UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Pechiney
(Name of Issuer)
Class A Common Shares
Nominal value Euro 15.25 per Common Share
(Title of Class of Securities)
F71851137
(CUSIP Number)
Louise Guarneri
Credit Suisse First Boston
Eleven Madison Avenue
New York, New York 10010
(212) 325-2000
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
December 5, 2003
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of ss.ss.240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box. |_|
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See ss.240.13d-7(b) for other
parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
-------------------
CUSIP No. 705151967 13D
-------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Credit Suisse First Boston, on behalf of the Credit Suisse First
Boston business unit
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
3 SEC USE ONLY
4 SOURCE OF FUNDS*
WC, OO
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) |X|
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Switzerland
NUMBER OF SHARES 7 SOLE VOTING POWER
BENEFICIALLY OWNED BY
EACH REPORTING PERSON See Item 5.
WITH
8 SHARED VOTING POWER
See Item 5.
9 SOLE DISPOSITIVE POWER
See Item 5.
10 SHARED DISPOSITIVE POWER
See Item 5.
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
See Item 5.
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* |_|
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
See Item 5.
14 TYPE OF REPORTING PERSON*
BK, HC
*SEE INSTRUCTIONS BEFORE FILLING OUT!
This Amendment No.1 amends and supplements the Schedule 13D, originally
filed on October 6, 2003, (the "Initial Schedule 13D"), with respect to the
Class A Common Shares, nominal value Euro 15.25 per Common Share (the "Shares"),
of Pechiney, a French corporation (the "Company"), filed by the Reporting
Person. Unless otherwise indicated, each capitalized term used but not defined
herein shall have the meaning assigned to such term in the Initial Schedule 13D.
The principal executive offices of the Company are located at 7 Place du
Chancelier Adenauer, 75116 Paris, France.
Item 2. Identity and Background.
Item 2 is amended and supplemented by inserting the following after the
last paragraph of Item 2 of the Initial Schedule 13D:
"On October 31, 2003, the U.S. District Court for the Southern District
of New York (the "SDNY") approved the global settlement among a number of Wall
Street firms, including CSFB LLC, and a coalition of state and federal
regulators and self-regulatory organizations (the "Global Settlement"). CSFB
LLC, without admitting or denying any alleged violation, consented to the Global
Settlement and thereby resolved a Securities and Exchange Commission's ("SEC")
complaint filed on April 28, 2003, in the SDNY. In this complaint, the SEC
alleged that, from July 1998 to December 2001, CSFB LLC engaged in acts and
practices that created or maintained inappropriate influence over research
analysts, thereby imposing conflicts of interest on research analysts that CSFB
LLC failed to manage in an adequate or appropriate manner. The SEC's complaint
also alleged that CSFB LLC engaged in inappropriate "spinning" of "hot" IPO
allocations in violation of New York Stock Exchange ("NYSE") and NASD Inc.
("NASD") rules requiring adherence to high business standards and just and
equitable principles of trade, and that CSFB LLC's books and records relating to
certain transactions violated the broker-dealer record-keeping provisions of
Section 17(a) of the Securities Exchange Act of 1934, NYSE Rules 401, 440 and
476(a)(6) and NASD Rules 2110 and 3110.
Under the terms of the Global Settlement:
o CSFB LLC agreed to pay the following amounts: $75 million as a
penalty, $75 million as disgorgement of commissions and other
monies for restitution for investors, and $50 million to be used
to fund independent research. This $50 million to fund
independent research is payable over a five year period.
o CSFB LLC is required, among other things, to: (i) separate its
research and investment banking departments and make independent
research available to investors, (ii) prohibit its analysts from
receiving compensation for investment banking activities and
prohibit analysts' involvement in investment banking "pitches"
and "roadshows," (iii) contract, for a five-year period, with no
fewer than three independent research firms that will make
available independent research to CSFB's customers, and (iv) make
its analysts' historical price targets (among other things)
publicly available.
o CSFB LLC is permanently restrained and enjoined from violating
Sections 15(c) and 17(a) of the Exchange Act, Exchange Act Rules
15c1-2 and 17a-3, NASD Rules 2110, 2210, 3010, and 3110, and NYSE
Rules 342, 401, 440, 472, and 476.
Other Wall Street firms were subject to similar requirements."
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 is hereby amended in its entirety to read as follows:
"As of October 2, 2003, the aggregate consideration (exclusive of
commissions) paid by CSFB LLC, CSFB-E and CSFB-Int for the acquisitions of the
Company's Shares was Euro 301,768,723.88. The aggregate consideration (exclusive
of commissions) paid by CSFB LLC, CSFB-E and CSFB-Int for the American
Depository Receipts ("ADRs") was $31,602.00. The aggregate consideration
(exclusive of commissions) paid by CSFB LLC, CSFB-E and CSFB-Int for 1.25%
convertible notes due 2006 (the "Notes") was Euro 6,567,519.00. The funds used
by CSFB LLC, CSFB-E and CSFB-Int to make these acquisitions came from a
combination of working capital and client funds.
"During the period beginning October 3, 2003 and ending December 15,
2003 (the "Reporting Period"), CSFB-E bought and sold Shares in numerous
purchase and sale transactions as a part of risk arbitrage trading strategies
and for hedging purposes in relation to customer facilitation trading
activities. Without taking into account any sales of Shares by CSFB-E during the
Reporting Period, CSFB-E made purchases of 5,882,684 Shares in the aggregate
during the Reporting Period in connection with these risk arbitrage trading
strategies and hedging purposes. After taking into account dispositions of
Shares made by CSFB-E during the Reporting Period in connection with these risk
arbitrage trading strategies and hedging purposes, CSFB-E held 229,370 Shares,
180 ADRs and 80,000 Shares issuable upon conversion of Euro 6,020,000 aggregate
principal amount of Notes, as of December 15, 2003. See Item 5(a). At no time
during the Reporting Period did these risk arbitrage purchases and sales of
Shares and purchases and sales of Shares for hedging purposes, in and of
themselves, give rise to a filing obligation under Section 13(d) of the Act.
Without taking into account any sale proceeds from dispositions of any Shares
during the Reporting Period, the aggregate consideration paid for Shares
purchased by CSFB-E during the Reporting Period as a part of these risk
arbitrage trading strategies and hedging purposes was Euro 280,615,058
(exclusive of commission). The funds used by CSFB-E to make these acquisitions
came from working capital and client funds."
Item 4. Purpose of Transaction.
Item 4 is amended and supplemented by replacing the first paragraph of
Item 4 of the Initial Schedule 13D with the following:
"The Shares, ADRs and Notes were acquired by the Reporting Person for
investment and customer facilitation purposes.
"Prior to October 3, 2003, CSFB-E acquired 3,300,000 Shares, and CSFB
LLC acquired 1,000 ADRs, as part of arbitrage (including risk arbitrage) trading
strategies. (Each ADR represents one-half of a Share.) These trading strategies
were the result of ongoing tender offers by Alcan, Inc. for certain securities
of the Company. The remaining Shares were acquired for hedging purposes in
relation to customer facilitation trading activity. The Notes, 280 ADRs and
180,400 Shares were acquired for investment purposes.
"During the Reporting Period, CSFB-E bought and sold shares in numerous
purchase and sale transactions as a part of risk arbitrage trading strategies
and for hedging purposes in relation to customer facilitation trading activity.
See Item 3."
Item 5. Interest in Securities of the Issuer.
Item 5 is hereby amended in its entirety to read as follows:
"(a) As of December 15, 2003, the Reporting Person may be deemed to be
the beneficial owner of 316,866 Shares which consist of 229,370 Shares held
directly by CSFB-E as part of a risk arbitrage strategy and for hedging purposes
in relation to customer facilitation trading activity, 180 ADRs held directly by
CSFB-E as a part of a risk arbitrage strategy, and 80,000 Shares issuable upon
conversion of Euro 6,020,000 aggregate principal amount of Notes held directly
by CSFB-E as part of an index arbitrage strategy, 100 ADRs held directly by CSFB
LLC for investment purposes, and 7,306 Shares held by CSFB-Int for hedging
purposes in relation to customer facilitation trading activity.
"Accordingly, the Reporting Person may be deemed to be the beneficial
owner of 0.3% of the outstanding Shares.
"To the best knowledge of the Reporting Person, except as described
herein, neither the Reporting Person, CSFBI, CSFB-USA, CSFB LLC, CSFBH,
CSFB-UKI, CSFBM, CSFB-UKIH, CSFB-E or CSFB-Int nor, to the best knowledge of the
Reporting Person, any other persons listed on Schedules A-1 through A-10
attached to the Initial Schedule 13D, beneficially owns any additional Shares.
"(b) With respect to any rights or powers to vote, or to direct the
vote of, or to dispose of, or direct the disposition of, the Shares referenced
in paragraph 5(a), there is shared power to vote, or to direct the vote of, and
to dispose of, or to direct the disposition of, such Shares and ADRs.
"(c) Pursuant to the terms of concurrent French and U.S. tender offers
by Alcan, Inc. for certain securities of the Company, the Reporting Person
tendered an aggregate of 6,700,416 Shares consisting 6,699,916 Shares held
directly by CSFB-E and 1,000 ADRs (each ADR representing one-half of a share)
held directly by CSFB LLC. The tender period expired on November 24, 2003, but
the offers were contingent upon the condition precedent that valid acceptances
in respect of Pechiney securities representing a majority of the total share
capital and voting rights in Pechiney, calculated on a fully diluted basis on
the closing date of the offers, were tendered in the U.S. and the French offers,
on a combined basis. On December 5, 2003, the Commission des Marches Financiers,
as required by the terms of the tender offers in respect of the satisfaction of
the aforementioned condition precedent, announced that the condition precedent
had been met. As a result, pursuant to the terms of the tender offers, the
above-described dispositions by CSFB-E and CSFB LLC were deemed to have occurred
on November 24, 2003.
"For each Share or two ADRs tendered by the Reporting Person, the
Reporting Person will receive 0.5441 of an Alcan common share and Euro 28.60
(plus the additional consideration described below, if applicable).
"Alcan has re-opened the offers from December 9, 2003 to December 23,
2003. If, at the expiration of the re-opened offers, the aggregate number of
Pechiney securities tendered into the initial offers that had expired on
November 24, 2003 and the re-opened offers corresponds to over 95% of Pechiney
share capital and voting rights (on a fully diluted basis), Alcan will pay the
following additional consideration to the Reporting Person for the securities
tendered into the offers:
o Euro 1 for each Share;
o Euro 0.5 for each ADR; and
o Euro 32,000 for the Notes.
"Schedule B, which is incorporated herein by reference, sets forth all
other transactions in the Shares effected by the Reporting Person and its
subsidiaries during the period beginning 60 days prior to December 15, 2003.
"(d) No other person is known by the Reporting Person to have such
right or power with respect to the Shares beneficially owned by the Reporting
Person, CSFBI, CSFB-USA, CSFB LLC, CSFBH, CSFB-UKI, CSFBM, CSFB-UKIH, CSFB-E or
CSFB-Int.
"(e) The Reporting Person ceased to be the beneficial owner of more
than 5% of the Shares as of November 24, 2003."
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: December 16, 2003
Credit Suisse First Boston,
on behalf of the Credit
Suisse First Boston
business unit.
By: /s/ Louise Guarneri
----------------------
Name: Louise Guarneri
Title: Director
Schedule B
Transactions in the Shares effected during the past sixty days are reported in
the following table. All Share trades were effected on Euronext.
---------------------------------------------------
Trade Date Buy/Sell Quantity Price
(Euros)
---------------------------------------------------
OCT 17 2003 Sell 170,000 47.849
---------------------------------------------------
OCT 17 2003 Sell 40,000 47.870
---------------------------------------------------
OCT 17 2003 Sell 210,000 47.925
---------------------------------------------------
OCT 17 2003 Buy 3,732 47.850
---------------------------------------------------
OCT 17 2003 Sell 172,930 47.849
---------------------------------------------------
OCT 17 2003 Buy 40,800 47.870
---------------------------------------------------
OCT 17 2003 Buy 237,919 47.848
---------------------------------------------------
OCT 17 2003 Buy 150,000 47.850
---------------------------------------------------
OCT 20 2003 Sell 6,022 47.860
---------------------------------------------------
OCT 20 2003 Buy 6,501 47.859
---------------------------------------------------
OCT 20 2003 Sell 6,022 47.932
---------------------------------------------------
OCT 22 2003 Sell 900 47.670
---------------------------------------------------
OCT 22 2003 Buy 10,000 47.667
---------------------------------------------------
OCT 22 2003 Buy 1,135 47.650
---------------------------------------------------
OCT 22 2003 Sell 48,321 47.522
---------------------------------------------------
OCT 22 2003 Buy 80,000 47.580
---------------------------------------------------
OCT 22 2003 Sell 30,000 47.570
---------------------------------------------------
OCT 22 2003 Buy 30,000 47.570
---------------------------------------------------
OCT 22 2003 Sell 25,000 47.580
---------------------------------------------------
OCT 22 2003 Buy 25,000 47.580
---------------------------------------------------
OCT 22 2003 Sell 25,000 47.580
---------------------------------------------------
OCT 23 2003 Sell 50,000 47.330
---------------------------------------------------
OCT 23 2003 Buy 300,000 47.300
---------------------------------------------------
OCT 23 2003 Sell 449,391 47.334
---------------------------------------------------
OCT 23 2003 Buy 30,879 47.331
---------------------------------------------------
OCT 22 2003 Sell 25,000 47.580
---------------------------------------------------
OCT 23 2003 Sell 25,000 47.409
---------------------------------------------------
OCT 24 2003 Buy 163 47.190
---------------------------------------------------
OCT 24 2003 Sell 3,635 47.288
---------------------------------------------------
OCT 24 2003 Buy 86,582 47.359
---------------------------------------------------
OCT 24 2003 Sell 163 47.190
---------------------------------------------------
OCT 24 2003 Buy 163 47.190
---------------------------------------------------
OCT 27 2003 Buy 30,000 47.229
---------------------------------------------------
OCT 22 2003 Sell 28,800 47.570
---------------------------------------------------
OCT 22 2003 Sell 1,200 47.570
---------------------------------------------------
OCT 27 2003 Sell 30,000 47.210
---------------------------------------------------
OCT 22 2003 Buy 30,000 47.570
---------------------------------------------------
OCT 27 2003 Buy 1,900 47.240
---------------------------------------------------
OCT 21 2003 Sell 6,022 47.860
---------------------------------------------------
OCT 28 2003 Buy 50,000 47.328
---------------------------------------------------
OCT 21 2003 Buy 6,022 47.860
---------------------------------------------------
OCT 27 2003 Buy 55,000 47.093
---------------------------------------------------
OCT 28 2003 Sell 3,305 47.300
---------------------------------------------------
OCT 28 2003 Buy 3,305 47.300
---------------------------------------------------
OCT 28 2003 Sell 50,000 55.327
---------------------------------------------------
OCT 29 2003 Buy 3,500 47.334
---------------------------------------------------
OCT 29 2003 Sell 6,700 47.334
---------------------------------------------------
OCT 29 2003 Buy 400 47.330
---------------------------------------------------
OCT 29 2003 Buy 20,000 47.390
---------------------------------------------------
OCT 29 2003 Sell 400 47.330
---------------------------------------------------
OCT 29 2003 Buy 28,200 47.358
---------------------------------------------------
OCT 29 2003 Sell 25,000 55.398
---------------------------------------------------
OCT 29 2003 Buy 50,000 47.391
---------------------------------------------------
OCT 29 2003 Buy 400 47.330
---------------------------------------------------
OCT 29 2003 Sell 400 47.330
---------------------------------------------------
OCT 29 2003 Buy 15,000 47.350
---------------------------------------------------
OCT 29 2003 Sell 15,000 47.350
---------------------------------------------------
OCT 23 2003 Buy 300,000 47.300
---------------------------------------------------
OCT 30 2003 Buy 50,000 47.349
---------------------------------------------------
OCT 30 2003 Sell 350 47.500
---------------------------------------------------
OCT 30 2003 Buy 16,500 47.330
---------------------------------------------------
OCT 30 2003 Buy 350 47.500
---------------------------------------------------
OCT 30 2003 Sell 25,000 47.370
---------------------------------------------------
OCT 30 2003 Sell 25,000 47.370
---------------------------------------------------
OCT 30 2003 Sell 15,000 47.414
---------------------------------------------------
OCT 30 2003 Buy 15,000 47.414
---------------------------------------------------
OCT 30 2003 Sell 25,000 47.370
---------------------------------------------------
OCT 30 2003 Buy 25,000 47.370
---------------------------------------------------
OCT 31 2003 Sell 2,400 47.552
---------------------------------------------------
OCT 31 2003 Sell 30,968 47.567
---------------------------------------------------
OCT 31 2003 Buy 80,920 47.559
---------------------------------------------------
OCT 31 2003 Sell 25,000 55.337
---------------------------------------------------
OCT 31 2003 Sell 50,000 55.289
---------------------------------------------------
OCT 31 2003 Buy 30,938 47.567
---------------------------------------------------
OCT 31 2003 Sell 2,400 47.552
---------------------------------------------------
OCT 31 2003 Buy 2,400 47.552
---------------------------------------------------
NOV 03 2003 Buy 800 47.900
---------------------------------------------------
NOV 03 2003 Buy 10,670 47.733
---------------------------------------------------
NOV 03 2003 Buy 25,000 54.857
---------------------------------------------------
OCT 31 2003 Buy 25,000 55.337
---------------------------------------------------
NOV 03 2003 Sell 800 47.900
---------------------------------------------------
NOV 03 2003 Buy 25,000 47.847
---------------------------------------------------
NOV 03 2003 Sell 25,000 54.857
---------------------------------------------------
NOV 04 2003 Sell 143 47.670
---------------------------------------------------
NOV 04 2003 Sell 54,327 47.797
---------------------------------------------------
NOV 04 2003 Sell 276 47.764
---------------------------------------------------
NOV 04 2003 Buy 26,712 47.828
---------------------------------------------------
NOV 04 2003 Buy 270,802 47.762
---------------------------------------------------
OCT 29 2003 Sell 25,000 55.398
---------------------------------------------------
NOV 04 2003 Buy 276 47.750
---------------------------------------------------
NOV 04 2003 Sell 276 0.000
---------------------------------------------------
NOV 05 2003 Sell 4,316 47.669
---------------------------------------------------
NOV 05 2003 Buy 37,610 47.634
---------------------------------------------------
NOV 05 2003 Buy 650 47.550
---------------------------------------------------
NOV 05 2003 Sell 250,000 47.757
---------------------------------------------------
NOV 05 2003 Buy 250,000 47.685
---------------------------------------------------
NOV 06 2003 Sell 1,100 47.476
---------------------------------------------------
NOV 06 2003 Sell 728 47.580
---------------------------------------------------
NOV 06 2003 Sell 218,883 47.508
---------------------------------------------------
NOV 06 2003 Buy 1,965 47.519
---------------------------------------------------
NOV 05 2003 Sell 5,000 47.518
---------------------------------------------------
NOV 05 2003 Buy 5,000 47.518
---------------------------------------------------
NOV 07 2003 Sell 900 47.575
---------------------------------------------------
NOV 06 2003 Sell 900 47.476
---------------------------------------------------
NOV 06 2003 Sell 200 47.476
---------------------------------------------------
NOV 07 2003 Buy 349 47.610
---------------------------------------------------
NOV 07 2003 Sell 96 47.610
---------------------------------------------------
NOV 07 2003 Buy 915 47.610
---------------------------------------------------
NOV 07 2003 Buy 15,127 47.610
---------------------------------------------------
NOV 07 2003 Buy 992 47.610
---------------------------------------------------
NOV 07 2003 Sell 5,000 47.460
---------------------------------------------------
NOV 06 2003 Buy 1,965 47.519
---------------------------------------------------
NOV 07 2003 Sell 17,383 47.610
---------------------------------------------------
NOV 07 2003 Buy 5,996 47.480
---------------------------------------------------
NOV 06 2003 Sell 218,883 47.508
---------------------------------------------------
NOV 10 2003 Sell 7,500 47.470
---------------------------------------------------
NOV 10 2003 Buy 7,500 47.470
---------------------------------------------------
NOV 10 2003 Sell 500 47.550
---------------------------------------------------
NOV 10 2003 Buy 500 47.550
---------------------------------------------------
NOV 11 2003 Sell 8,500 47.354
---------------------------------------------------
NOV 11 2003 Buy 1,250 47.280
---------------------------------------------------
NOV 11 2003 Buy 3,844 47.351
---------------------------------------------------
NOV 11 2003 Buy 93,219 47.351
---------------------------------------------------
NOV 11 2003 Buy 8,500 47.354
---------------------------------------------------
NOV 11 2003 Sell 98,313 47.335
---------------------------------------------------
NOV 12 2003 Buy 960 47.007
---------------------------------------------------
NOV 12 2003 Buy 4,316 47.007
---------------------------------------------------
NOV 12 2003 Buy 1,646 47.007
---------------------------------------------------
NOV 12 2003 Buy 2,236 47.007
---------------------------------------------------
NOV 12 2003 Buy 2,830 47.007
---------------------------------------------------
NOV 12 2003 Buy 22,603 47.007
---------------------------------------------------
NOV 12 2003 Buy 6,073 47.007
---------------------------------------------------
NOV 12 2003 Sell 40,664 47.007
---------------------------------------------------
NOV 13 2003 Buy 9,426 47.311
---------------------------------------------------
NOV 13 2003 Buy 6,939 47.311
---------------------------------------------------
NOV 13 2003 Buy 18,201 47.311
---------------------------------------------------
NOV 13 2003 Buy 4,049 47.311
---------------------------------------------------
NOV 13 2003 Buy 95,308 47.311
---------------------------------------------------
NOV 13 2003 Buy 11,929 47.311
---------------------------------------------------
NOV 13 2003 Buy 25,609 47.311
---------------------------------------------------
NOV 13 2003 Sell 10,000 47.200
---------------------------------------------------
NOV 13 2003 Buy 13,448 47.216
---------------------------------------------------
NOV 13 2003 Sell 171,461 47.310
---------------------------------------------------
NOV 13 2003 Sell 1,400 47.311
---------------------------------------------------
NOV 13 2003 Buy 1,400 47.311
---------------------------------------------------
NOV 13 2003 Sell 15,000 47.270
---------------------------------------------------
NOV 13 2003 Buy 15,000 47.270
---------------------------------------------------
NOV 13 2003 Buy 14,100 47.311
---------------------------------------------------
NOV 13 2003 Buy 25,000 47.392
---------------------------------------------------
NOV 13 2003 Buy 84,300 47.311
---------------------------------------------------
NOV 13 2003 Buy 5,200 47.311
---------------------------------------------------
NOV 14 2003 Sell 1,130 47.280
---------------------------------------------------
NOV 14 2003 Buy 5,584 47.220
---------------------------------------------------
NOV 14 2003 Sell 5,584 47.220
---------------------------------------------------
NOV 14 2003 Buy 200 47.479
---------------------------------------------------
NOV 14 2003 Sell 200 47.479
---------------------------------------------------
NOV 14 2003 Buy 2,200 47.479
---------------------------------------------------
NOV 14 2003 Buy 16,800 47.479
---------------------------------------------------
NOV 14 2003 Buy 800 47.479
---------------------------------------------------
NOV 17 2003 Buy 8,551 47.471
---------------------------------------------------
NOV 17 2003 Buy 5,903 47.471
---------------------------------------------------
NOV 17 2003 Buy 508 47.471
---------------------------------------------------
NOV 17 2003 Buy 9,188 47.471
---------------------------------------------------
NOV 17 2003 Buy 56 47.471
---------------------------------------------------
NOV 17 2003 Buy 1,742 47.471
---------------------------------------------------
NOV 17 2003 Buy 4,373 47.471
---------------------------------------------------
NOV 17 2003 Buy 2,146 47.471
---------------------------------------------------
NOV 17 2003 Buy 3,008 47.471
---------------------------------------------------
NOV 17 2003 Buy 1,129 47.471
---------------------------------------------------
NOV 17 2003 Buy 5,138 47.471
---------------------------------------------------
NOV 17 2003 Buy 2,801 47.471
---------------------------------------------------
NOV 17 2003 Buy 12,450 47.471
---------------------------------------------------
NOV 17 2003 Buy 48 47.470
---------------------------------------------------
NOV 17 2003 Buy 8,950 47.433
---------------------------------------------------
NOV 17 2003 Sell 80,091 47.442
---------------------------------------------------
NOV 17 2003 Sell 8,950 47.433
---------------------------------------------------
NOV 17 2003 Buy 13,500 47.372
---------------------------------------------------
NOV 17 2003 Buy 4,500 47.372
---------------------------------------------------
NOV 17 2003 Buy 5,050 47.372
---------------------------------------------------
NOV 17 2003 Buy 5,050 47.372
---------------------------------------------------
NOV 17 2003 Sell 5,050 47.372
---------------------------------------------------
NOV 17 2003 Buy 13,500 47.372
---------------------------------------------------
NOV 17 2003 Sell 13,500 47.372
---------------------------------------------------
NOV 17 2003 Sell 12,450 47.471
---------------------------------------------------
NOV 17 2003 Buy 12,450 47.471
---------------------------------------------------
NOV 17 2003 Sell 1,129 47.471
---------------------------------------------------
NOV 17 2003 Buy 1,129 47.471
---------------------------------------------------
NOV 17 2003 Sell 3,008 47.471
---------------------------------------------------
NOV 17 2003 Buy 3,008 47.471
---------------------------------------------------
NOV 17 2003 Sell 2,146 47.471
---------------------------------------------------
NOV 17 2003 Buy 2,146 47.471
---------------------------------------------------
NOV 17 2003 Sell 4,373 47.471
---------------------------------------------------
NOV 17 2003 Buy 4,373 47.471
---------------------------------------------------
NOV 17 2003 Sell 1,742 47.471
---------------------------------------------------
NOV 17 2003 Buy 1,742 47.471
---------------------------------------------------
NOV 17 2003 Sell 56 47.471
---------------------------------------------------
NOV 17 2003 Buy 56 47.471
---------------------------------------------------
NOV 17 2003 Sell 5,903 47.471
---------------------------------------------------
NOV 17 2003 Buy 5,903 47.471
---------------------------------------------------
NOV 17 2003 Sell 508 47.471
---------------------------------------------------
NOV 17 2003 Buy 508 47.471
---------------------------------------------------
NOV 17 2003 Buy 4,500 47.372
---------------------------------------------------
NOV 17 2003 Sell 4,500 47.372
---------------------------------------------------
NOV 18 2003 Buy 652 47.442
---------------------------------------------------
NOV 18 2003 Buy 1,898 47.442
---------------------------------------------------
NOV 18 2003 Buy 60 47.442
---------------------------------------------------
NOV 18 2003 Buy 7,026 47.442
---------------------------------------------------
NOV 18 2003 Buy 1,669 47.520
---------------------------------------------------
NOV 18 2003 Buy 1,908 47.442
---------------------------------------------------
NOV 18 2003 Buy 5,341 47.442
---------------------------------------------------
NOV 18 2003 Buy 30,000 47.523
---------------------------------------------------
NOV 18 2003 Sell 16,639 47.447
---------------------------------------------------
NOV 17 2003 Buy 4,500 47.372
---------------------------------------------------
NOV 18 2003 Buy 1,100 47.514
---------------------------------------------------
NOV 19 2003 Sell 354,279 47.428
---------------------------------------------------
NOV 19 2003 Buy 570,100 47.427
---------------------------------------------------
NOV 19 2003 Sell 240,000 47.477
---------------------------------------------------
NOV 19 2003 Sell 300,000 47.529
---------------------------------------------------
NOV 19 2003 Sell 50,000 47.410
---------------------------------------------------
NOV 19 2003 Buy 340,000 47.430
---------------------------------------------------
NOV 19 2003 Sell 50,000 47.410
---------------------------------------------------
NOV 19 2003 Buy 50,000 47.410
---------------------------------------------------
NOV 19 2003 Buy 6,900 47.437
---------------------------------------------------
NOV 19 2003 Buy 53,300 47.437
---------------------------------------------------
NOV 19 2003 Buy 2,600 47.437
---------------------------------------------------
NOV 19 2003 Buy 2,500 47.437
---------------------------------------------------
NOV 20 2003 Sell 626 47.300
---------------------------------------------------
NOV 19 2003 Buy 700 47.437
---------------------------------------------------
NOV 19 2003 Sell 700 47.437
---------------------------------------------------
NOV 21 2003 Sell 995 47.460
---------------------------------------------------
NOV 19 2003 Buy 700 47.437
---------------------------------------------------
NOV 24 2003 Buy 4,371 47.650
---------------------------------------------------
NOV 25 2003 Buy 100 47.685
---------------------------------------------------
NOV 25 2003 Sell 100 47.700
---------------------------------------------------
NOV 26 2003 Sell 100 47.920
---------------------------------------------------
NOV 27 2003 Buy 6 47.970
---------------------------------------------------
NOV 28 2003 Buy 10,300 48.057
---------------------------------------------------
NOV 28 2003 Sell 10,000 48.060
---------------------------------------------------
DEC 01 2003 Buy 33,470 48.301
---------------------------------------------------
DEC 01 2003 Sell 275 48.280
---------------------------------------------------
NOV 24 2003 Buy 4,371 47.650
---------------------------------------------------
NOV 25 2003 Sell 100 47.700
---------------------------------------------------
NOV 26 2003 Sell 100 47.920
---------------------------------------------------
NOV 27 2003 Buy 6 47.970
---------------------------------------------------
DEC 03 2003 Buy 526 48.830
---------------------------------------------------
DEC 03 2003 Buy 149 48.830
---------------------------------------------------
DEC 03 2003 Buy 14,854 48.830
---------------------------------------------------
DEC 03 2003 Buy 1,060 48.830
---------------------------------------------------
DEC 03 2003 Buy 524 48.830
---------------------------------------------------
DEC 03 2003 Buy 476 48.830
---------------------------------------------------
DEC 03 2003 Buy 1,552 48.830
---------------------------------------------------
DEC 03 2003 Buy 255 48.830
---------------------------------------------------
DEC 03 2003 Buy 740 48.830
---------------------------------------------------
DEC 03 2003 Buy 4,775 48.830
---------------------------------------------------
DEC 03 2003 Buy 89 48.830
---------------------------------------------------
DEC 03 2003 Sell 26,255 48.830
---------------------------------------------------
DEC 03 2003 Buy 48,143 48.834
---------------------------------------------------
DEC 04 2003 Buy 8,000 49.100
---------------------------------------------------
DEC 04 2003 Buy 100 48.810
---------------------------------------------------
DEC 04 2003 Buy 91,619 49.071
---------------------------------------------------
DEC 04 2003 Sell 8,100 49.096
---------------------------------------------------
DEC 05 2003 Buy 18,369 49.244
---------------------------------------------------
DEC 08 2003 Buy 1,369 49.364
---------------------------------------------------
DEC 08 2003 Sell 1,369 49.400
---------------------------------------------------
DEC 08 2003 Sell 200 49.212
---------------------------------------------------
DEC 08 2003 Buy 200 49.212
---------------------------------------------------
DEC 08 2003 Buy 2,100 49.212
---------------------------------------------------
DEC 08 2003 Buy 17,700 49.212
---------------------------------------------------
DEC 09 2003 Buy 31,625 49.382
---------------------------------------------------
DEC 09 2003 Sell 10,000 49.356
---------------------------------------------------
DEC 10 2003 Sell 4,865 49.160
---------------------------------------------------
DEC 10 2003 Sell 1,236 49.160
---------------------------------------------------
DEC 10 2003 Buy 6,101 49.160
---------------------------------------------------
DEC 10 2003 Buy 561 49.091
---------------------------------------------------
DEC 10 2003 Buy 15,133 49.135
---------------------------------------------------
DEC 10 2003 Sell 6,662 49.154
---------------------------------------------------
DEC 10 2003 Sell 6,101 49.160
---------------------------------------------------
DEC 10 2003 Buy 6,101 49.160
---------------------------------------------------
DEC 11 2003 Sell 315 48.825
---------------------------------------------------
DEC 12 2003 Buy 99 49.000
---------------------------------------------------
DEC 12 2003 Buy 38 49.000
---------------------------------------------------
DEC 12 2003 Buy 16 49.000
---------------------------------------------------
DEC 12 2003 Buy 16 49.000
---------------------------------------------------
DEC 12 2003 Buy 16 49.000
---------------------------------------------------
DEC 12 2003 Buy 112 49.000
---------------------------------------------------
DEC 12 2003 Buy 110 49.000
---------------------------------------------------
DEC 12 2003 Buy 644 49.000
---------------------------------------------------
DEC 12 2003 Buy 1,000 49.000
---------------------------------------------------
DEC 12 2003 Buy 500 49.000
---------------------------------------------------
DEC 12 2003 Buy 5 49.000
---------------------------------------------------
DEC 12 2003 Buy 50 49.000
---------------------------------------------------
DEC 12 2003 Buy 56 49.000
---------------------------------------------------
DEC 12 2003 Buy 150 49.000
---------------------------------------------------
DEC 12 2003 Buy 3,380 49.000
---------------------------------------------------
DEC 12 2003 Buy 8 49.000
---------------------------------------------------
DEC 12 2003 Sell 6,200 49.000
---------------------------------------------------
DEC 12 2003 Buy 6,200 49.000
---------------------------------------------------
DEC 15 2003 Buy 500 49.130
---------------------------------------------------
DEC 15 2003 Sell 500 49.130
---------------------------------------------------