Skip to main content

Full text of "International Herald Tribune , 1994, France, English"

See other formats



Bead Qf, 


* of Your 

iergsur. 
andAlir. 
option of 
rrs? 

'«b ■»> 
b> a h- 
rcopuia- 
-3. Jphr. 

tio game 

cha:*- 
2 fcKcnc- 
ill as the 
ready ?? 
tieni" ir. 
**t> iha: 
mu? the 
’«0s ev 
counter- 

*h; ►;.- - ■ - 
ag sense 
, or **'i. 
of “sho 
UTiie:- 
Ol !fc- 
ajfv the 


*<Il\ ;r.- 
icie *U7.- 

-■ »knc-js 
•'nsurjL- 
>r> frr.r 
ivillair.?. 

asats v: 

ther car 
,4 trv>: " 
y in ih.? 

*J.*- HZ' r 

Wicksd- 

)licr.s of 
or some 
i>e ikea 
^ .*:* 

:j rre.-:- 
Siais .:•• 

surto- 

?JV!‘.T.^c 

1*4 


'I.., 

’ He r. 'M-. 

n-w - : •■•I , 


T'f- I k INTERNATIONAL M | 

Itcralo ^is& .gribiinc 

PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON POST 




Paris, Tuesday, March 22, 1994 


No. 34,542 


■ r : , Ui O 

■.' 0-r . I J'S.. 

■'. 1 . ■ -IlfJ _■ 

** 1 '■-■ o •*'’"] ryl ■'• 

. -• • i‘ ' i’, 

* •■ '=• . --V, 

;fVV ’ ( 1 

r -•■ 'CJH 

"7,1 "■ :, i‘u'v’ r ' 

• - ■" i ^ 


«..*• - j-u; i>t- . 

r- . '■ -''nsafc, 

■ . , ", r IT, 

iy. 

'.M - . J- \t 

. • « I'tan. 

•• v 

...r: r:v V*.i lf : • 

. " • - r nr ^- 

. •■'•tit. 

;■ 

.. 

_•• ■ — .:j.: ir Ijji, 


INTEIIWTios 

t'l.ASSIFlil 


A Wireless Project That’s Out of This World 


By Edmund L. Andrews 

Nm rar ^ runa Service 

WASHINGTON — Two of America's wealthiest emrepru- 

“S^, con ™™“ lio “ “d computers, Craig 0. McCaw 
and William H. Gates, on Monday announced the formation 
nLw^rt 71 ? 1 aity 10 devcl ?P a satdihe communications 
befo^ ^ m ° re an, ^ lUous dian any^ng coaiemplated 

“ w b>g “cl so radically different from 
current saiellne systems that it might be dismissed as an idle 
!^ no1 ^ p^ple behind it: Mr. McCaw, 
who bum McCaw Cellular Coinmunicaiions into the largest 
ceuular telephone company in the industry, and Mr. Gates, 
who turned Microsoft Corp. into the biggest software compa- 
ny in the world. ^ 

- or businessmen with their records, the task is daunt- 
» “ ie,r new company, Tetedesic Corp. based in Kirkland 
Washington, is proposing to build a S9 billion svstem with 840 
small satellites. 

The network would transport information ranging from 


ordinary telephone calls to high-resolution computerized 
medical iraagb and two-way video conferences to and from 
virtually any spot on the planet. 

As envisioned, the system would be able to deliver almost as 
many services as the new fiber-optic networks being built by 
many telephone companies. But it would be able to reach 
underdeveloped and rural areas that are typically cut off from 
advanced communications. 

“The real promise of this system is to bring access for rural 
and remote areas of the world to the health and education 
services that you con gel in major urban centers,** Russell 
Daggait, president of Teledesic. said. 

Mr. Daggait, a tdecommunications lawyer who has worked 
closely with McCaw Cellular, will be leading a project that has 
been under secret development by Mr. McCaw and Mr. Gates 
for three years. 

In a filing with the Federal Communications Commission 
on Monday, the company outlined the system and requested 
permission to begin construction with a view to providing 
service by 2001. 


Some industry analysts cautioned that it would be prema- 
ture to dismiss ihe concept simply because of its extraordinary 
scale. Indeed. Motorola Corp. has defied many skeptics in its 
effort to build a S3 J billion satellite telephone svstem called 
Iridium that would use 66 spacecraft. 

"iridium seemed like a wild idea, too, but Motorola has 
been able to raise S8Q0 million." said Richard Shaffer, a 
principal at Technologic Partners, a New York firm that 
tracks the computer and communications industry. “It's a big 
idea, but Craig McCaw got where he is today because he had a 
big idea about cellular telephones and be' pursued it when 
skeptics said he was going loo far." 

Right now, the plan is still little more than a vision. Aside 
from the tiny fraction that Mr. McCaw and Mr. Gates have 
personally contributed so far, the company has yet to raise 
any of the construction and launch money it will need. 

The plan depends on signing up big corporate partners 
from around the world, which might include state-owned 

See NETWORK, Page 8 


Clinton Will Send 
Missiles to Seoul 

UN Expected to Opt for New Appeal 
As Crisis Grows Over Nuclear Issue 






By Barry James 

Intenumcmai Herald Tribune 

President Bill Clinton said Monday that be 
had agreed to deploy Patriot anti-missile bat- 
teries in South Korea, and the United States 
announced that plans for war games on the 
peninsula were revived, putting new pressure 
on North Korea to open its suspect nuclear sites 
for international inspection. 

Mr. Ginton. who was in Florida to promote 
his health plan, said that the deployment oT the 
Patriot missiles was a “purely defensive” re- 
sponse to the crisis caused by the North’s refus- 
al to open all its nuclear plants to international 
inspection, feeding suspicions that it is building 
a nuclear bomb. 

The United States and South Korea also said 
they would reconsider whether to resume prep- 
arations for the military exercises known as 
Team Spirit, which North Korea has con- 
demned as a preparation for war. The exercises 
were suspended in the hope of coaxing the 
North into allowing full inspections of its nu- 
clear plants. 

The moves were designed to allow more time 
for a diplomatic solution, administration offi- 
cials said. They said the administration wanted 
to show China. Japan and South Korea that it 
was doing everything possible to settle the dis- 
pute without a confrontation. 

The Patriot missiles, for instance, will be sent 
to South Korea by sea, a voyage that could lake 
30 to 45 days. And while the administration has 
begun to work on a United Nations resolution 
to apply fresh economic penalties to North 
Korea, the first move will be only a warning. 

North Korea, accusing the United States of 
strong-arm tactics and saying it had no nuclear 
secrets to hide, threatened to pull out of the 
Nuclear Nonproliferation Treaty, the 1970 ac- 
cord to limit the spread of nuclear weapons. 

In Vienna, the International Atomic Energy 
Agency on Monday referred the North’s refusal 
to comply with the treaty to the United Nations 
Security Council. 

Fearing a Chinese veto, the United Slates 
stopped short of pushing for economic sanc- 
tions against North Korea on Monday, and 
instead began a drive in the Security Council 
for another appeal to Pyongyang to cooperate. 

The chief U.S. delegate to the United Na- 
tions, Madeleine K. Albright, said the United 


Stales had drafted a resolution calling on North 
Korea to allow the inspections. 

“This is not a sanctions resolution.” she said. 
“This is one which really calls on them to return 
to an inspections’ regime.” 

The threat of sanctions could be made in a 
second resolution ir the first fails to persuade 
the North Koreans to cooperate, diplomats 
said. 

The Chinese are likely io support or at least 
abstain in a vote on a resolution that stops short 
of sanctions, but they did not state their posi- 
tion in Monday's Security Council meeting 

North Korea's ihreaL to pull out of the non- 
proliferation treat)* came on the day that it was 
to have met in Geneva with American envoys to 
resolve the crisis. Washington called off the 
talks because of Pyongyang's refusal to fully 
disclose its nuclear plans. 

Mr. Clinton said: “We have agreed that it is 
in our national interests and the interest of the 
people of South Korea and the security of our 
armed forces there to proceed with the Patriot 
deployment. So we will do that" 

He" did not disclose the dates ol the deploy- 
ments or the numbers of Patriot units involved. 
“I want emphasize that this decision on the 
Patriots is purely defensive in nature,” he said. 

Patriot missiles were used in 1991 during the 
Gulf War to defend Israel and Saudi Arabia 
against Iraqi Scud miss iles. 

In South Korea, President Kim Young Sam 
said the missiles would be deployed around 
U.S. military bases and other key sites “as soon 
as possible.” a spokesman said. 

South Korea also said it would discuss re- 
suming preparations for the Team Spirit ma- 
neuvers with the United Slates. The exercises 
were suspended'Manch 3 on the condition that 
North Korea allow inspection of its nuclear 
sites. President Kim said he would decide 
whether to go ahead with the exercises at the 
end of this month, after reluming from trips to 
Japan and C hina 

Secretary of State Warren M. Christopher, 
referring to the joint exercises, said in Washing- 
ton: “Now that the negotiations are at an im- 
passe, I can tell you well be talking to the South 
Koreans about reinstituting them and doing it 
in the very near future.” 

The atomic energy agency's governing board 

See KOREA, Page 5 


UN Finds Heavy Weapons 
Serbs Hid Near Sarajevo 



Ak under Inc Afcncr F ns rat- Pirn* 

THREATENING — Sooth African police near Durban taking aim at people Monday after a boy was lulled by gunfire. Throughout Natal Province, 34 people were killed. PageX 

A Worldwide Oil Hunt Leads to China’s Savage Sands 



By Steven Mufson and Steve Coll 

Washington Pail Service 

BEIJING — Out beyond Outer Mongolia, a 
long day's-drive past sheer mountain peaks, yet 
another day’s journey across a swamp where an 
explorer would sink to the waist, there lies a 
forbidding wasteland whose name in the local 
Uighur tongue means “you can get in, bat not 
oul" 

This is where travelers along the ancient silk 
route had to detour — there was no way 


through. Sand dunes tower as high as 75-story 
buildings. Temperatures plunge below zero 
Fahrenheit (minus 17.8 centigrade) in winter 
and soar to 120 degrees in summer. It is a 
landscape so desolate, said Galen Cobb of 
Halliburton Co„ a Dallas-based oil services 
company, “it looks like you're on the moon.” 

Yet lately Halliburton and scores of other 
foreign od prospectors have been trekking to 
the Tarim Basin, as it is called. Their surveying 
equipment disappears in shifting, sands. Bull- 
dozed roads vanish. Still, they press on. Wang 


Too, president of the Chinese National Petro- 
leum Cotp.. said, “We do not fear hardships.” 

Not when such riches beckon. Some oil spe- 
cialists believe the Tarim Basin may hold nearly 
as much oQ as Saudi Arabia. For 45 years, the 
basin has been sealed off to foreigners by a 
Communist Chinese government proud of its 
self-sufficiency and hostile to Western capital- 
ism. Now Beijing has done an about-face, de- 
riding that the only way to profit from Tarim's 
treasure is with Western technology and West- 
ern money. 


China’s turnaround in Tarim is part of a 
momentous opening of the global economy, the 
biggest reorganization of world economic activ- 
ity since the cataclysms of World War I and 
World War II. 

With the Cold War's demise, international 
capitalism, in the form of free domestic markets 
and open borders to trade and investment, has 
become the closest thin| to a guiding ideology 
throughout the world with its spread has come 

See TARIM, Rage 8 


By David B. Ottaway 

Wasbmgtrm Past Service 

SARAJEVO, Bosnia-Herzegovina — UN 
troops have discovered a large cache of Serbian 
heavy weapons hidden inside the exclusion 
zone around Sarajevo in the worst violation of 
NATO's ultimatum requiring that all heavy 
arms be withdrawn at least 20 kilometers from 
the capital, UN officials said here Monday. 

The arms cache, found by Canadian UN 
troops just inride the zone, includes four tanks, 
three anti-aircraft guns, four howitzers and 18 
mortars that the Stabs had refused to withdraw 
or hand over to the United Nations. 

The discovery of the weapons, on Sunday, 
raises questions about whether the Bosnian 
Serbs, who had agreed to comply with the 
NATO ultimatum, have other such stockpiles 
inside the exclusion zone, as the Bosnian gov- 
ernment has consistently alleged. 


The Dual- Justice System 

Settlers Are Governed by Israeli Law, 
'But Arabs Answer to Military Rulers 




; ra.M V:r 


lfcl-.v *-* J 
xionpia: 




a?* 55 *' >;£ 


By David Hoffman 

Washington past Service 

HEBRON. Iraeli -Occupied West Bank — In 
the last few days, Rabbi Moshe Levwger and 
the Zemarva brothers took a trip.lhrough Isra- 
el's justice system. But they went in very differ- 
ent directions. 

Mohammed Zemarya. 20, and bis brother, 
Raed, 19, were accused of throwing stones at 
Israeli cars. When their turn came before Isra- 
el’s military court in Hebron, no witnesses 
showed up. Their lawyer gave them two op- 
tions: Accept a three-month sentence immedi- 
ately, without a trial, or wan m detention for 
the witnesses and probably get 'a year in prison. 
They took three months- 
Ihe dav before, Rabfai 

fleer of the mfliiant Jcw^ settinnent^^ 
mem in Hebron, was cbargedwA 

an order from the iX mfiwm 

Although he claims a bibheal nght to bvem 

HebronT be did not go t0 , tb ^.^f e 
courtroom as the Zemarya brothers. 

Rabbi Levmgcr wait » 


out of the courtroom and acknowledged that he 
may have violated the law. 

“In every democratic slate, people demon- 
strate;" he said. “Perhaps some of my demon- 
strations were also a little bit against the law.” 

The separate treatment of Rabbi Levinger 
and the Palestinian brothers underscores one of 
the most enduring legacies of Israel's quarter- 
century occupation of the West Bank and Gaza 
Strip. Since Israeli Jews began settling the 
rocky spine of mountains in the West Bank and 
the sandy dunes of Gaza after the 1967 war, 
Israel has created a dual system of rules, laws 
and procedures based cm nationality: one for 
Arabs and one for Jews. 

As Israel built 144 Jewish settlements across 
the territories, it also sought to protect the 
Jewish residents who lived there. They were put 
inride a legal, social and economic bubble and 
offered the same rights and privileges as if thev 
had never left Tel Aviv. The Arabs were exclud- 
ed from this system and were governed instead 
by brad’s military occupation. 

When the militant Jewish settler. Dr. Baruch 
Goldstein, walked into the Tomb of the Patri- 
archs in Hebron on Feb. 25 to cany out the 



Kiosk 


7 Killed on Swiss Train Hit by Crane 


Svj Down 
| 3080 ^ 

3.864^5 T 

The Dollar 


Mon, dose 
1.6895 
1.4885 
105.875 
5.7605 


Down #.* 
0.88% ** 

112.38 

aewiuadpsa 

1.6968 

1.4905 

106.12 

5.781 


Hmms Qmt'Agtna Fi 

HANG SENG FALLS —A stock broker 
checking ftgiffes in Hoag Kong, where the 
index plunged 5.09 percent Monday. Ibe 
fall led to an Asia-wide sell-off. Page 17. 


Sports 

Tonya Hanfing’s former husband and two 
other men have been indicted on racketeering 
charges connected with the attack on skater 
Nancy Kerrigan. Page 22. 


Book Review 

Chess 

Crossword 


Page 4. 
Page 4. 
Page 24. 


DAEN1KEN, Switzerland (AP) — The 
crane of a work train sliced through a passing 
express train at window level Monday, killing 
seven passengers and injuring at least IS 
others, the police said. 

The crane apparently swung into (he pas- 
senger train, cutting the top off a baggage car 
and forcing it off the rails, said a spokesman 
for the Solo ih urn canton malice. It then cut 
into the next three cars, which were carrying 
passengers. 

The accident occurred between Daeniken 
and Sch5nenwerd, near Aarau, in northern 
Switzerland. The train had originated in Brig 
and stopped in Lausanne and BieL It was cn 
route to Romanshorn on Lake Constance. 

Regional train traffic was halted on the 
line, a spokesman for the Swiss Federal Rail- 
ways said. Longer-distance trains on the 
main western corridor were rerouted, causing 
delays of up to an hour. 


The UN Protection Force rushed an addi- 
tional company of 100 Canadian troops to the 
rile late Sunday. The Canadians were described 
as involved “in somewhat of a face-off” with 
Serbian troops, who had laid mines to prevent 
the Canadians from seizing the weapons. 

A UN spokesman. Major Simon 
MacDowalL, said that while the two rides had 
their guns pointed at each other, there had been 
no shooting and the situation was “not too 
tense.” 

Talks with the local Serbian commander had 
achieved no results, he said. 

The Serbs are disputing the UN force's con- 
tention that the heavy weapons lie inside the 
exclusion zone. They are at Cifluk, which is 
between 1 8 to 20 kilometers northwest of Sara- 
jevo, near the main highway to Visoko. The 
highway is scheduled to be opened Wednesday 
to civilian traffic for the first time in two years. 

None of the weapons has a long enough 
range to hit Sarajevo, but they would be capa- 
ble either of hitting the Sarajevo- Visoko high- 
way or Visoko itself, Major MacDowall said. 

The weapons were found by a platoon of 
Canadians in the UN force stationed at Cifluk 
to keep track of six other Serbian howitzers 
□ever surrendered or withdrawn by the Feb. 21 
deadline set by NATO for the pullback of the 
Serbs’ heavy weapons. 

Platoon members had begun exploring the 
area to see if there were other arms. 

Major MacDowall said that there was no 
plan to call in an air strike by NATO to destroy 
the Serbian weapons or to use force to seize 
them. Instead, UN officials were pursuing 
“strong forceful negotiations” with leaders of 
the Bosnian Serbian military and civilian lead- 
ership. 

“The UN is not prepared to enter into this 
war as another combatant,” he said. “We’re not 
going to stan a ground-air operations to seize 
these weapons by force.” 

The UN force's chief of staff. General A. Van 
Baal, went on Monday to Pale, the headquar- 
ters of the Bosnian Serbs, to talk to their mili- 
tary commanders and to by to see their presi- 
dent. Radovan Karadzic. 

Despite the reported Serbian violation. Ma- 
jor MacDowall insisted that the UN peace- 
keeping force had achieved its main objective: 

See SERBS, Page 8 


•' l - , 




MUU! ^*-**“S-* . m nrrrl in fflflp- Hltna 111 ueuiuu vu * »»• « w/ ikuij uui 

Israel's pre-1967 borders. He appears* mag 0 f Muslims at prayer, he was in 

isirate's court under rides set by man y m y S sl jn shielded by this bubble. And 

nal code and was freed on bail me sam * questions raised in the aftermath of his massa- 
with a trial date set for next month, tie ere of at least 29 Palestinians have cast light on 


Wolf in Monk’s Robes? A Lurid Tale Binds the Thais 


«***’-. 
Sc;*x' .. • 

'TJ***.. 


Newsstand Prices _ 

Andorra .....9-00 FF jr. y 0 x ^ ur9 

Antilles.....! T^OFF Rials 

Cameroon. . 1400 CFA .u .20 FF 

Egvpi E.P. 5W« Arabia ..9.00 R. 

France 9.00 FF Senegal .....960C FA 

Gabon....— 960 C FA Spain ......200 PT AS 

Greece 300 Dr Tunisia -. 1-000 Dm 

53S:Ii*nB 

uSTw-USSl^O U.S. Mil. (Eur.) SI. 10^ 


the dual system. 

According to testimony given to the five-man 
commission under the president of the Supreme 
Court, Meir Shamgar. that is investigating the 
killings, soldiers and policemen who were 


ating under the dual system. 

For example, when Dr. Goldstein arrived 
that morning in his settlement's security jeep, 
he was armed, wearing an army uniform and 
carrying a bag with seven magazines of a rnm u- 

See JUSTICE, Page 8 


By Wniiam Branigin 

Washington Pal Service 

BANGKOK — In a country that had its share of Lorena 
Bobbitts 20 years ago, where men routinely take “minor wives” 
and where politicians offer prosti cutes like party favws at their 
celebrations, it takes a pretty lively sex scandal to hold people s 

attention. . , . 

The case of Phra Yantra Amaro Bhikkhu has certainly done 
that. Two months after the charismatic Buddhist monk was 
first accused of various sexual transgressions and other un- 


German disciple, had sex with a Cambodian mm on the deck 
of a cruise ship and courted female followers in long-distance 
phone calls? Or is it all a conspiracy by a gang of anti-Buddhist 
women called the “monk hunters”? 

Is Phra Yantra a wolf in monk's clothing, as detractors 
allege, or are rival monks jealous of his shaven-headed good 
looks and large, heavily female following? Are Thai authorities 
engaged in a cover-up in the case? And wOl he or won’t he be 
defrocked? 

The episode has also raised questions about monks’ relation- 


lion alized and reaches into the highest levels of society. So, too, 
does the practice of frequenting prostitutes. 

At a celebration last year titled “Parliament Closure: The 
Bachelors' Style,” a political party in the governing coalition 
gave away about 20 call girls toils members of parliament after 
a Chinese dinner at a Bangkok hotel Thai newspapers report- 
ed. 

Sometimes, however, men’s philandering has pushed Thai 
women over the edge. There were numerous penis-lopp ing 
incidents here long before "Bobbitt” became a household 


Ukeasoap opera aboul an international jel-Ktter femm.sls desmbe as sCTist.lt has ltd lo some unusually canid ^ Yantra on the other hani h:« 

than the tele of a BUdSiisi .preacher. And they are waiting for ^ “ 8 of «wmy revelations’ and an open 

“M“eTdS‘heTJr“Sd tn Bdgtad, .dating ^ taUng “ ^ ““ ^ mMt 

vows of celibacy? Is it true he seduced a Danish harpist and a mistresses, known as “minor wives," has been all but institu- ^ MONK, Page 5 




Page 2 



UJL Stands Fast on Dilution of EU Voting Power Touvier 


WORLD BRIEFS 


BRUSSELS — European Union foreign 
ministers will tty again Tuesday to break 
British and Spanish resistance to changing 
voting rules in an expanded EU, bin Britain 
warned of a continuing deadlock. 

The British foreign secretary, Douglas 
Hurd, said the meeting, the third in as many 
weeks, m ay not be decisive in resolving a 
battle over national veto rights when, as 
planned, the EU expands to 16 nations from 
12 next year. 

“Sometimes agreement takes lon g er than 
we hope, and this may unfortunately be true 
again this week, 17 Mr. Hurd said Monday to 
the Institute of European Affairs in Dublin. 

Diplomats from other countries also were 
pessimistic about chances of a deal since the 
issue has become embroiled in British do- 


mestic politics, with anti-European hard-lin- 
ers in the ruling Conservative Party warning 
the government against backing down. 

A stalemate Tuesday is expected to worsen 
the crisis atmosphere m the Union. 

Norway, Sweden, Finland and Austria 
completed negotiations on membership 
terms earlier this month. But the 12 current 
members have continued bickering over 
whether to reduce the rights erf a minority of 
nations to block EU decisions. 

Until the issue is resolved, expansion pro- 
cedures are blocked. 

Britain and Spain want the level of votes 
needed to form a “blocking minority’ to stay 
at the current level so the new additions will 
not dilute their influence. 

The 10 other nations want to increase it to 
make decision-making less cumbersome. 


Members are assigned votes in proportion 
to their size. Currently, 23 votes out of 76 are 
needed to block a proposal within meetings 
of EU ministers. All EU members, except 
Britain and Spain, want to raise the thresh- 
old to 27 votes out of 90. 

Mr. Hurd insisted member states need to 
be sure their views would “not be steamroll- 
ered.” If the blocking minority is increased, 
that can no longer be assured he said 

The foreign ministries of France and Ger- 
many said Monday that they had agreed over 
the weekend on a joint position ahead of 
Tuesday’s meeting. They declined to specify 
further. 

France last week became embroiled in a 
diplomatic spat with Germany when its am- 
bassador was reported to have expressed 
worries that Bonn was riding roughshod over 


Paris’s interests in pushing so hard to bring 
the new mambas into the Union. Both gov- 
ernments have since been at pains to insist 
that their relationship at the heart of the £U 
is as strong as ever. 

If the EU talks fail Tuesday, the enlarge- 
ment could be delayed beyond the target of 
Jan. 1, 1995. 

The European Parliament has to approve 
the expansion, including any change in vot- 
ing procedures. The Union’s 5 1 8-seal assem- 
bly is backing the 10 other EU nations 
against Spain and Britain. 

After approval by the European Parlia- 
ment, the tour applicant nations win bold 
referendums on membership and the parlia- 
ments of the current ELI nations also must 
approve expansion. (AP, Reuters) 


PlayS Down Racism on Rise in France, Panel Says 

° PARIS (Reuters) — An offitial human rights commisaon voice 

Oath to 


Fight Jews 


The Associated Press 

VERSAILLES, France — Paul 
Touvier, the Nazi collaborator 
charged with crimes a g a in st hu- 
manity, admitted Monday that he 


concern Monday that the French were becoming more racist, and it 
iraigh new immigration laws as a retrograde step in efforts to 

safeguard basic rights. , . _ 

Pad BoucbeL preadenl of the National Consultative Commission, 
said that there was less racist violence in France than in neighboring 
countries. But he added: “What is worrying is that the racist virus is 
continuing to spread in people’s minds. Racist statements and behavior 

are becoming commonplace." ... , , 

Mr. Boucfaet said North Africans were the mam victims and that there 
were signs of growing racism toward people from sub-Saharan Africa. 
According to an opinion poll for the commission, two out of five French 
people ctmcede that they are “rather” or “a little" racist Twenty-seven 



had taken an oath to combat “Jew- percent ^ ** stalenients ’ °r having a racist 


outlook, “often or “sometimes. 


Kremlin 
Will Probe 
Rumors of 
Coup Plot 


By Fred Hiatt 

Washington Post Service 

MOSCOW — Russia’s top law 
enforcement officer said Monday 
that he would investigate the coup 
rumors now swirling through polit- 
ical Moscow and, u they are un- 
founded, might sue for libel the 
newspaper that published them. 

An unsigned but extremely de- 
tailed scenario for a palace coup 
was published Friday in the Obsh- 
chaya Gazeta and has since been 
widely discussed on television and 
in the halls of parliament. 

Alexei Qyushenko, recently ap- 
pointed acting prosecutor-general 
by President Boris N. Yeltsin, said 
he would use his own officers as 
well as the Interior Ministry and 
the Federal Counterintelligence 
Service to investigate the report, his 
spokesman said. 

Few here believe that the scenar- 
io, which names several Yeltsin 
supporters among the supposed 
culprits, is exactly what h purports 
to be. But that has not stopped 
Moscow politicians, jittery after 
having weathered two coup at- 
tempts in less than three years, 
from speculating on who might 
benefit from circulating such a doc- 
ument — and who might be plot- 
ting for power. 

Reformers said Mr. Yeltsin’s 
hard-line opponents were behind 
the rumors about Mr. Yeltsin's 31- 
health or political peril, because 
they allegedly hope to destabilize 
society. Hie hard-liners in turn ac- 
cused reformers of preparing a 
coup in revenge for their loss in last 
December’s parliamentary elec- 
tions. 

The jitters were energized when 
Mr. Ydtsin left town last week for 
a two-week vacation in Sochi, in 
the relatively warm southern region 
of Russia. The rumor meter spiked 
again when Defense Minis ter Pavd 
S. Grachev delayed a trip out of 
town last week. 

And the rumor meter spiked 
even higher Monday when Prime 
Minister Viktor S. Chernomyrdin 
revised his schedule at the last min- 
ute to fly to Sochi, where officials 
said he and Mr. Yeltsin conferred 
on a range of issues. 

If political Moscow was feverish, 
many Russian voters this weekend 
showed themselves increasingly ap- 
athetic and disillusioned with dem- 
ocratic politics as a means to im- 
prove their situation. In dozens of 
local districts across the country, 
elections to city or regional coun- 
cils failed to attract the necessary 
25 percent of votens to become val- 
id. 

The local elections had been 
scheduled last fall, after Mr. Yelt- 
sin urged the dissolution of Com- 
munist-era “soviets," or councils, 



C&vcSkirtqr/ Reims 

PAN-EUROPEAN NUCLEAR PROTEST — Policemen battling protesters in Brokdorf, Germany, mho were trying Monday to 
Mock a convoy of trucks carrying nuclear waste materials from a German reactor to the reprocessing plant in Seflafidd, England. 


ish leprosy,” but he denied that he 

Testifying for the first time in his Pakistan Shuts Consulate in Bombay 

trial. Mr. Tooviersaid he was BOMBAY (Reuters) — Pakistan and India, locked in confrontation 

over Kashmir, blamed each other on Monday over Pakistan’s closing of 
its popqilflte in Bombty, India's commercial capital. 

“We c onsider it unfortunate," said the Indian minister of state for 
external affairs, Salman KhurshkL “It is designed to create an atmo- 
sphere that is not conducive to talks.” 

The Pakistani consul-general, Shahiyar Hashed, called the dosing “a 
step backwards” and said the decision was made a/Ler a leading hotel 
refused to bold Pakistan Day celebrations on March 23 on its premises. 
Mr. Rashed said he had searched without success or help from the Indian 
government for 19 months to find a suitable place for a permanent 
consulate, which has been operating from a rented office since August 
1992. Asked if Pakistan would shut down the Indian consulate in 
Karachi. Mr. Rashed said: “We have not taken the next logical step yet." 


shocked by the anti-Jewish rhetoric 
of his comrades in a militia that 
collaborated with the Gestapo in 
German-occupied France. 

Mr. Touvier, 78, is charged with 
ar rangin g the executions of seven 
Jewishbosiages near Lyon in June 
1944 while serving as the militia's 
intelligence chief. 

The bead of the three-judge pan- 
el Henri Boulard, led Mr. Touvier 
through his life story. 

“I never considered myself anti- 
Semitic,” Mr. Touvier said. “I am a 


P He denied knowing anything of Clash Raises 2-Day Egypt Toll to 15 

German massacres ofFrench dvO- ASSYUT, Egypt (Reuters) — Egyptian security forces hunting gun- 
ians after D-day, or of roundups of mejl who ambushed a police vehicle in southern Egypt shot and killed six 

Jews in 1941 ** - . -•* 

“I wasn't aware, not at aU,” he 
said. “There was no television and 


we only listened a little to the radio. 
It was censored. We didn't know 
anything about roundups or depor- 
tations.” 

Judge Boulard read documents 
giving the ideology of the pro-Nazi 
militia in which Mr. Touvier 


Thatcher Faints Briefly During Talk 

“ c *■ “ — ” SANTIAGO (AP) — Former Prime Minister Margaret Thatcher of 

Britainiainted badly Monday and struck her face against a microphone 
while delivering a speech before hundreds of Chilean businessmen. She 
did not fall and was not reported hurt in the incident. 

Mrs. Thatcher, 68, was nearing the end of a 10-page speech at a hotel 
luncheon in her honor when she suddenly stopped, remaining silent for a 
few seconds. Her face then fell onto the microphone, and her husband. Sir 
Denis Thatcher, and two businessmen sitting nearby rushed to help her. 

She recovered quickly, however, and returned to the microphone to 
apologize for what had happened. She then left for her room at a Santiago 
hotel, where she was reported resting a couple of hours after the incident. 
Earli er, she met with President Eduardo Frei. 


U.S. to Focus More on Ex-Soviet Republics 


By Steven Greenhouse 

New York Tunes Service 

WASHINGTON — Stung by months of crit- 
icism that it has unduly favored Russia, the 
Clinton administration has altered its policies, 
adopting a tougher tone toward Russia and 
focusing more on other former Soviet republics. 

Although the administration seems too 
proud to admit that any new approach was 
needed, there is an unmistakable change in tone 
toward a newly nationalist Russia and far more 
emphasis on bolstering the security and econo- 
mies of the other republics. 

The recent visits here by the presidents of 
Ukraine, Georgia and Kazakhstan- have dem- 
onstrated this new focus and appear, at least in 
part, to be a response to the many criticisms 
trom Congress and foreign polity experts that 
the administration has maintained a Russia- 
first policy. 

“The administration is reding from the criti- 
cisms of its Russia policy,” said Mortal L 
Abramowitz, director of the Carnegie Endow- 
ment for International Peace: “I think we’re 
seeing a certain amount of rethinking and repo- 
sitioning.” 

Evidence of that can be seen in President Bill 
Clinton's decision to double economic aid to 
Ukraine and Kazakhstan and bis call for an 
international peacekeeping force to help end 
Georgia’s dvil war — a move that is widely seen 
as an effort to check Russia's muscle- flexing 
beyond its benders. 

Officials say their stepped-up efforts to bdp 
the economies of Ukraine and other non-Rus- 
sian republics are another way to ensure their 
continued independence. 

“We fed economic security is inextricably 
related to political and military security," Dep- 
uty Secretary of State Strobe Talbott said in an 
interview. “If these countries undergo a pro- 


found and protracted economic crisis, it will 
undermine their viability as states. Ukraine is a 
particularly vivid example of that." 

Reinclam to give an inch to critics who have 
attacked their policy, Mr. Talbott and other 
administration officials deny that the visits of 
the leaders presage a change. 

But at the same time, the administration is 
proud to point out that it is spending more 
energy and money than before on the 14 non- 
Russian republics. 

Officials are also happy to note that while 


NEWS ANALYSIS 


When President Leonid M. Kravchuk of 
Ukraine visited two weeks ago, Mr. Clin ton 
emphasized UJL support for the “territorial 
integrity” of Ukraine at a time when Russian 
nationalists are clamoring that Crimea belongs 
to them and not Ukraine. 

Perhaps because they do not want to offend 
their friend. President Boris N. Ydtsin of Rus- 
sia, or perhaps because they do not want to 
acknowledge that there may be a need for any 
midcourse corrections in policy, administration 
officials are reluctant to discuss their approach 
in toms of a tougher stance. 

Mr. Talbott said the administration bad al- 
ways stressed maintaining the territorial integ- 


Russia received more than half the aid to the rity of the former republics. Nonetheless, many 

r ,U. I . . r * .1 i - • ■ .t 


farmer Soviet Union over the last two years, 
next year more than half will go to other repub- 
lics. 

After the surprising surge of nationalist 
forces in Russia's elections in December, Mos- 
cow’s foreign policy statements have grown 
more shriH and in response Washington has 
shown a new toughness. 

While there is plenty of talk about the need 
for Rusaan cooperation to bring peace in the 
Middle East ana Bosnia, the administration’s 
warnings about Russia’s nationalist ambitions 
are more frequent and firmer than before. 

In a speech last week. Defense Secretary 
William J. Perry said the United States must 
help Russia consolidate its transition to democ- 
racy, but cautioned that “it is possible that 
Russia will emerge from the turbulence as an 
authoritarian, militaristic, imperialistic nation 
hostile to the West.” 

Mi Perry’s recommendation — one that 
should please those who say the administration 
has pampered Russia — was that Pentagon 
most keep up its defenses. He is traveling this 
week in Russia, Kazakhstan, Ukraine and Be- 
larus. 


foreign policy experts say the a dminis tration s 
frequent recent assertions of that view regard- 
ing Ukraine, Georgia and the Baltic republics 
signal such a change in the face of increased 
Russian nationalism. 

“They’re moving in the right direction, but 
I'm not going to start applauding the adminis- 
tration yet,” said Senator Mitch McConnell, 
Republican of Kentucky, the senior Republi- 
can on the Senate Appropriations subcommit- 
tee on foreign operations. 

He has threatened to vote against new Rus- 
sian aid because he says the a dminis tration has 
improperly favored Moscow. “Tm still not con- 
vinced we've seen a real change in policy,” he 
said. 

The wav Mr. Talbott explained it, the admin- 
istration has naturally paid more attention to 
Russia than to other republics because it is the 
biggest republic and because the others would 
be greatly affected if Russia's democratization 
and economic reforms fail 

He described the wanner relations with 
Ukraine and Kazakhstan as a response to their 
decisions to eliminate nuclear weapons and gel 
serious about economic reforms. 


French parity." 

Mr. Touvier was asked if he took 
this oath. 

“Yes,” he replied, “but in a 
group. It shocked me. I didn’t see 
anything anti-Semitic in that. 
They’re just words. The author 
didn’t intend to have a mean tone.” 

Mr. Touvier also said he was 
“very shocked” when the chief of 
the Vichy regime's militia, Joseph 
Damand. swore allegiance to Ger- 
many. 

According to the charges, Mr. 
Touvier banded over the seven Jew- 
ish hostages following the death of 
Philippe Henriot, propaganda min- 
ister of the Vichy regime that gov- 
erned occupied France. 

The hostages were taken to a 
village cemetery, lined up against a 
wall and shoL 

Mr. Touvier worked closely with 
a local Gestapo chief. Klaus Bar- 
bie, who died in a French prison 
after being convicted of crimes 
against humanity in 1987. 

After the war, Mr. Touvier was 
protected and f inancially support- 
ed by Nemen is of the Roman Cath- 
olic Church. At the behest of 
church officials. President Georges 
Pompidou pardoned Mr. Touvier 
in 1971. 

He surfaced briefly after the par- 
don, but went underground again 
when outraged Resistance groups 
and Jewish survivors came forward 
with evidence to bring new charges. 
He was arrested in 1989 at a priory 
in Nice. 


U.S. Sweetens the Pot for Ukraine 


MOSCOW (AFP) —The United States is adding S50 million to a $135 
million allocation for Ukraine's program to. get rid of nuclear weapons, 
visiting Defense Secretary W IlHam J. Perry said here Monday, Interfax 
news agency reported. 

Mr. Peny signed an agreement with his Ukrainian conterpart, Vi tali 
Redetski, for the added funds, saying cooperation between the two tides 
had great strategic importance, Interfax said. Mr. Perry is expected to 
sign further aid agreements totaling $100 milli on during his stay. In 
W ashington at the start of the month. President Leonid M. Kravchuk 
won pledges almost doubling American aid this year to $700 million. 

Under an agreement with Russia and the United States signed in 
January, Ukraine is to scrap its entire nuclear arsenal the third largest in 
the world, sending the wameads to Russia to be dis man tled. 


For the Record 


4 ANC Officials 
Are Among 34 
Killed in Natal 


across Russia to pave the way for a 
democratic era. But in St 


new democratic era. But in St Pe- 
tersburg on Monday, Mayor Ana- 
toli A Sobchak had to order the 
polls to stay open an extra day after 
only 21 percent of voters turned 
out Sunday. He said the rity could 
not afford to reschedule the elec- 
tion, bat could not live without 
local legislative bodies. 

In dozens of other cities, turnout 
also fell short in many voting dis- 
tricts. The head of Arkhangelsk re- 
gion called the local election there 
“a total failure." 


Somali Accord Imminent , UN Says 


The Associated Press 


NAIROBI — Rival Somali fac- 
tions are expected to announce on 
Tuesday an agreement for a cease- 
fire and for choosing the next lead- 
ers of the country, a United Na- 
tions official said Monday. 


An announcement by Somalia's 
principal warlords, Mohammed Ali 
Mahdi and Mohammed Farrah Ai- 


j« ask the butler... Hi 

I' 

S l 

,7 r, t,. J 


did, was abruptly postponed three 
times over two days. 

But a UN spokesman said Mon- 
day afternoon that he was relative- 
ly confident that the pair, along 
with 13 other faction leaders, 
would announce an agreement cm 
Tuesday. 

“We expect that the IS faction 
leaders and their entourages will 
present a new declaration on the 
political future of the country: a 
cease-fire and peaceful reconcilia- 
tion between themselves the UN 
spokesman, George Bennett, said 
at a news conference. 

“It’s a major step forward for 
Somalia," he said. “They have cer- 
tainly been able to put past differ- 
ences behind them and look to the 
future." 

Faction leaders and their aides 
have been meeting in Nairobi for a 


week with funding from the United 
Nations Operation in Somalia. 

If they fail to reach agreement on 
Tuesday, Mr. Bennett said, “I don’t 
think the UN is gang to fund their 
stay for any longer in Nairobi" 

The international community 
has feared that Somalia will revert 
to chaos after most Western forces 
withdraw in the coming days. Gen- 
eral Aidid and Mr. Ah Mahdi pre- 
viously have announced separate 
plans to set up a transitional gov- 
ernment after foreign troops leave. 

The last 330 Italian troops are 
scheduled to leave Mogadishu by 
ship on Wednesday. The Ameri- 
cans will complete their withdrawal 
on Friday. Germany, France, Bel- 
gium and a number erf other coun- 
tries have already pulled their 
forces out. 


Kurd Supporter 
Slain in Nicosia 


The Associated Press 

NICOSIA — A prominent cam- 
paigner for Kurdish independence 
m eastern Turkey was shot and 
killed outside his home here, the 
police said Monday. 

TheophQos Georghiades. 37, a 
member of the Greek Cypriot 
Kurdish Solidarity Committee, was 
slain Sunday night, the police an- 
nounced. 

Witnesses reported seeing a mo- 
torcycle with two people on it flee 
the scene, the police said. No ar- 
rests were reported. 

A Cyprus government spokes- 
man blamed Turkish secret services 
for the slaying^ 

Mr. Georghiades worked for the 
governments Press Information 
Office and specialized in Turkish 
and Kurdish affairs. 


Reuters 

DURBAN, South Africa — 
At least 34 people, including 
four African National Con- 
gress officials, were killed in 
Natal Province during the 
weekend, the police and the 
ANC said on Monday. 

The police said gunmen 
shot and killed four ANC offi- 
cials at Ndaleni black town- 
ship, near Richmond in the 
Naial Midlands on Sunday af- 
ternoon. 

Nearly 15,000 people have 
died in political violence in the 
past four years of apartheid 
reform, at least half of them in 
Natal which is the power lose 
of the Inkatha Freedom Party 
leader, Chief Mangosuthu 
Bmhdezi. who is refusing to 
take part in South Africa's 
first all-race elections in April. 

Meanwhile, a fire that pris- 
oners demanding the vow in 
the upcoming elections appar- 
ently set in their own cell 
killed 21 inmates, officials said 
Monday. A prison spokesman 
said the fire, at Qneenstown, 
in Eastern Cape, was pan of a 
mass action by the South Afri- 
can Prisoners’ Organization 
for Human Rights to secure 
the vote for prisoners in April 
26-28 polls. 


Gimmes killed two people in ra Algiers newspaper office and wounded 
three on Monday. More than a dozen journalists have been killed in 
recent months by Islamic militants. The attack on Hebdo Libere. a 
weekly, was the first on the offices of a publication. Security forces said 
three men armed with automatic rifles carried it out (AP) 

An Aviaco airlines DC-9 broke its front (anting gear as it hit the runway 
in heavy fog Monday and skidded 600 meters on its belly in Vigo, Spain. 
At least 12 of the 110 passengers suffered minor injuries, authorities in 
the northwestern rity said. (AP) 

A SiriBan tfjacker dammg to hare a jpenade hdd 160 people hostage 
aboard a plane at Rome's Fiumirino airport for three hours Monday 
before giving up, officials said. Giuseppe Cizio, 67, took over the the DC- 
9 belonging to the Italian airline Meridian a. He is from Trapani in 
western Sicily and has a criminal record and psychological problems, the 
police said. (AFP) 


TRAVEL UPDATE 


Tourists Find Britain a Better Value 



Muslim militan ts in a dawn raid Monday, security sources said. 

Two policemen, including a senior commander, were killed in the raid, 
rakin g the A»aih toll in violence between militants and security forces in 
two days to 15. The security sources said the shooting occurred near the 
town of Abu Tig, 345 kilometers (215 miles) south of Cairo. 

police^vehide on Sunday^in^ nearby town, killing five policemen and 
injuring six people. Also Sunday, police found two bodies in a Geld in the 
area where the police had earlier dashed with militants. 


Hite r 


* .? * 


1*3 v PfC re ?c 


i 


LONDON (Reuters) — Foreign tourists found Britain's public trans- 
port, shopping and restaurants a better value last year than they did the 
year before, a British Tourist Authority survey said Monday. 

It said 55 percent of overseas visitors thought London’s public trans- 
port system was good value in 1993 compared with 50 percent in 1991 
The pound's value declined by about a fifth against most foreign 
currencies in September 199Z 

At least 47 percent thought shopping was good value, up from 35 
percent the year before, and 42 percent considered British restaurants 
and cafes well-priced, compared with 28 percent in 1 992. Approval rates 
for London hotel charges were still low, but rose from 12 to 17 percent. 
Last year a record 19.3 million overseas visitors spent £9.1 billion ($13.6 
bQhon) in Britain. 

The restored MtefaefamgeJo cdBng of the Sistine Chapel at the Vatican 
was opened to the public in 1989 after more than two decades of study 
and work. Since then his other great Sistine Chapel fresco, “The Last 
Judgment" has been concealed behind a high scaffold. Now, at an Easter 
week Mass to be celebrated by the Pope, it too. will reappear. (NYT) 

Areas of the world considered (he most dangerous for air travel have .% 
been listed by the International Airline Passengers Association. They are 
Chura, South Korea and India; all countries in Central Africa; all 
republics of the former Soviet Union; and South America, specifically 
flights through the Andes, and trips to or within Colombia. The organiza- 
_ flights in those regions should be avoided, except with the large 
U.S. airlines and major foreign carriers. (NYT) 

HAl Royal Dutch Airlines cut fares to South Africa and Jordan on 
Monday in what a KLM spokesman said was a response to similar 
reductions by South African Airways. The new round-trip fare from 
Amsterdam to Johannesburg and Cape Town is 1 .780 guilders ($932) and 
to Jordan, 1,175 guilders. ^P) 

be , a0<wed site of the CM War irondad 
Monitor off the North Carolina coast. The National Oceanic and Atmo- 
spheric Administration said it had decided to look for a company to 
matrage dives at the. Monitor National Marine Sanctuary. The^reck of 
the ship was found in 1973 at a depth of 230 feet. (AP) 


ULl 




v r.. 


o 

V 

E 

R 

H 

E 

A 

R 

D 



For heaven’s sake, Grace, i know it’s easy. 
But ya gotta stop talking up a storm. 


With MCI CALL USA and MCI WORLD REACH services, 
reaching around the world has never been easier. 


To react! around the world, use your MO Card or call collect . 0 Just select the number next to the country you're calling from An EneJish-sneakmo 
operator will put your call through to anywhere in the SO States as well as a growing list of parttapating Wfona Reach rountnes'^ 8 


i coun tries" 


Austria 

022-903-012 

Ecuador 

170 

Italy 

Belgium 

078-11-00-12 

Egypt’ 

355-5770 

Kenya" 

BoiMa 

0-800-3323 

Finland 

9800-102-80 

Kuwait 

Brazil 

000-8012 

France 

19*00-19 

Lebanon 

Chile 

00*0316 

Germany" 

0150-0012 

Mexico** 

Colombia 

980 16-0001 

Greece 

00-500-1211 

Netherlands 

Cyprus 

080-90000 

Hungary 

00*-800-OKH 

Norway 

Czech Rep 

00-42-000112 

India” 

000-127 

Ft hi* 

Denmark 

8001-0022 

Ireland 

1 800-551-001 

Poland 

Dominican Republic 

1-800-751-6624 

Israel 

177-150-3727 

F^xtugaf 


173-1022 

oeoon 

BOO-MCI I800 62A) 
435-036 

95-600-674-7000 

06--023-9122 

050-12912 

001-190 

0*01-04-000-222 

05-017-1234 


Saudi Arabia 
Slovak Rep 
Spain' 

Sweden 

Switzerland 

lurkey 

UAE 

United Kingdom 

Uruguay 

Venezuela' 


1-800-1! 
00-42-000112 
900-99- OOK 
020-795-922 
155-0223 
99-8001-H77 
600-111 

0800-89-0222 
000 412 
800-1114 -0 


■Coumrv-io -country cjfUnc may nor oe MMDfe ro 6 fmm ail MO CALL USA tatafons Certain reironwis "Via* lor second cut lone *■*««* trom mua mant nj** 

■Whenmaiineouraioe or Cam* dial Q? first When doing ouisnJe of Uiu. tne access r*jmber a 190 -Unwed ara*tt»bry °Coi»?ci cars to US arty 
In some countries. pubic pnonesmay requeeoeMM of con or phone cam tor oat tone ^Service from putfc telephones may be limn w 
Raie.de pends 4" ciw otigm m Mewo "Set wee *<a**le on a lumen basis n eastern Germany C MCI memal tonal Me . 1995 
MCI IP logo ano as other MCI pttxfccisaw serves mennoned hensn, are proprietory mala of MO Cormumcaiiorts Corporation 











Imprime par Offprint, 73 rue de I'Evangilc, 75018 Pais. 







^Nation* 

t imu. _'OriMi:. ^*. 


kucs-^ cl , 

■ imir-l _ . - — *1 . 


■ 1 ‘k h'- \' 


Consulate i 

ASSIST. 3T.Z ■ 


Lilts 


0 find 2 


■- r a &*. • 


ehiclein ^„:h- T j., ^ 

lid Mor.d”.. 
ieniur soir.r.aiv'-r _ 

:c hctu rcr. trj, • ■ ^ ^ * : ' lc ^ rc ^ 

ources >«->.; ■-- *T".\~ - • ,Sl! -‘nnjJ 
«fi> i 2 1 5 ru.s,'. ( VICCUri «l &*> 

« ;h.r /■’ .. , l' 4i: ‘ 
i near*} u-u-. ,~'.V i :' r - :r '^h^ 

JV, Yf ; P'^vsnuj 

iter clashed - V~ : .’ £*' ,ri ^- 

^ Briefly DiirincT fl |i 

*r Pnr ;c NL-r-^r Ms-^ ~ 
v anc struck jr-- • . . . - ^ 


sn Pnne M;. 
|i anc struck t:; 
*r hundred' _• 
tel ti-n ;r: ih: 
rag thee:’.* ::' 
* sudiicr.!'. -■.. 
»tcU ihs m,.r..' 
aeisn-cn 
•ever. 22.Z 'i„ 
a*. She :^n.= 
resun^^ .2_r 
u EdiH'u.: rr-j 


r-t'i: 


B -Psdia,* 

’’•■unir 

■sale’ 

•C h:t 


■u-r-i 

! I- ser- 

.'r IT: 

lLr 'Tk 


v 


ie Pot for Ukraine 


nii su y.z.f ■. 

■> r-c'-n. ;r. v 

itusT. J re— : - 


•I.riU' j[i 


acr.: m.:: 
. va>:r.^ ' 
r. k:cr 

se m-r.-.f- 

Ansr 

Ru.- V \: 

.- 

si> !»• ?- .. 




' “ * -irr.i'j'i 

Le.-.::'M Lv 


a jai \ljjers u?fi« ri-z 

a Li 

i&UE.'^ irr 

!fw» a 


ifaerf;-.. ---• • • 5 

4c is fc«r -=c-_r.: - • ' - 

Mcs:^* ' ■• *• ■ ■' l, i v: 

l?crv . • - -• •'• ---"'• 


to (ki^r i ^’c"-Z: : ‘ ' 


'->■ - ' • 

wtor 

;‘i: - ' • 


iLt'PDATE__ 

ritaiu a Better V* 


:> a I'v.irr . . 


Wi. 7T-- 

4- r*'* - ■’ 

id - • 


l- 1 liar 




rK.'::;:- - 


tt I It* 3*; 

d .AiJ-TT 1 ' * 


cuS Sen' 

*i' i -'-j“ • 


' lrVJ '■ 




- .1 «i?- 


- v r ; 


j »•< - • 


MCI 




INTERNATIONAL HERALD TRIBUNE. TUESDAY, MARCH 22, 1994 


Page 3 


THEAMERICAS / m in akstmi* 



*£ r?^r."T rr 

a:’r28 



f SA -^r: 


Clinton Testy on Whitewater 

r;?^ FIELD Florida - President 

B iL C ^^/“ cled ^Rrily Monday 10 questions 
about the Whitewater affair, telling reponmS 
it was a bunch of buD" and that thevSukl leave 
Ae^mvesugatuig to the prosecutors" handling the 

^ ^ out has b«n 

sordy^ tested in the last few weeks, but it’s still 
there, the president said. “Why don't you guys 
J»y« jhs spwial counsel do his job?" 8 * 

r u S? 10 ? ^ Gening to Robert W. Fiske 
^ * e fcder^counsel investigating 1980s business 
dealings of the Clintons and ana their ties to a 
failed savings and loan bank. 

A fonner Arkansas municipal court judge, Da- 
vid Hale, has said that Mr. Clinton, then the 
governor, pressured him to make a loan that indi- 

twfltr iitaiiM L*... L.i . . 1 «in ■ 


Choice Act. M As a practical matter, when pro- 
choice groups meet, we don't even discuss itr 

Proponents have argued that the Freedom of 
Choice Act would codify Roe v. Wade, the 1973 
Supreme Court ruling that legalized abortions, and 
prevent states from further chipping away at a 
woman's right to terminate her pregnancy. Ms. 
Maraido and others say that with a supportive 
administration and prospects of a friendlier Su- 
preme Court, abortion rights advocates are con- 
centrating less on protecting a woman's right to an 
abortion and more on expanding access to repro- 
ductive health services. 

Abortion opponents have argued that the Free- 
dom of Choice Act would wipe out popular state 
laws, such as wailing periods and parental notifica- 
tion requirements, that regulate abortion within 
the boundaries of the Roe decision. (WP) 


^ .1 * . * — H IVOU LU04 UiUJ" 

rectly would have helped Whitewater Develop- 
ment Co., the now-defunct real estate venture at 
the center of the investigation. 

The White House has denied that Mr. Clinton 
P[ es ^ u ®d Mr. Hale, and officials have suggested 
Mr. Hale was bargaining with prosecutors to try to 
save himself. 

Court papers revealed Monday that Mr. Hale 
has agreed to plead guilty to fraud charges and 
would be sentenced Tuesday. (Reuters) 


President Pans Health Foes 


Abortion BUI Loses Impetus 

WASHINGTON — Once promoted by abor- 


DEERFIELD BEACH, Florida — President 
Bill Clinton on Monday accused right-wing Re- 
publicans of guiding the special interests who 
oppose his health reform plan. 

“The opponents of our plan are trying to con- 
fuse the issue by making it seem complicated,” Mr. 
Clinton said. “They ignore the fact that the system 
we have today is (he most complicated on the face 
of the earih." 



Arkansas Can’t Figure It Out 

Just When Its Image Had Started to Shine 


By Peter Applebome 

N>h York Tima Service 

LITTLE ROCK. Arkansas — 
Just as Arkansas basked in the re- 
flected glory of Bill Clinton's elec- 
tion as president 16 months ago. it 
is stewing and reeling to the 
degree today because of the unfold- 
ing stoiy o'f Whitewater and the 
travails of some of Mr. Clinton's 
home-grown appointees. 

Whether in terms of lives shat- 
tered or turned upside down, or of 
the state's image and reputation, 
events in Washington are turning 
this capital city into an aggrieved, 
edgy mirror image of the giddy 
place that savored the spotlight 
during Mr. Clinton's canquign and 
election. 

Many people here contend that 
much of ihe news reporting of 
Whitewater reflects a lack of un- 
derstanding of the politics and 


manners of a small state with a tiny 
cadre of major players who all 
know each other, if only because 
there are so fen' of them. 

Whatever the case, the joy and 
hope that saw tens of thousands of 
people from this southern state 
stream into Little Rock for Mr. 
Clinton's victory celebration on 
Nov. 4, 1992, and then saw dozens 
of Arkansans head triumphantly 
off to big-lime jobs in Washington, 
has been replaced by a far more 
somber mood. 

“It's gone from a feeling of ex- 
citement and optimism to a feeling 
of bewilderment, amazement and 
consternation.'’ said Jeff Rosenz- 
weig, a local lawyer. 

In the last few months, the Clin- 
tons have faced unrelenting scruti- 


WASHINGTON — Once promoted by abor- 
tion rights advocates as a legislative priority, a bill 
in Congress that would ban most state restrictions 
on abortion is virtually dead, according to propo- 
nents of the measure. 

While some abortion rights activists hope to 
revive the Freedom of Choice Act in a future 
congressional session, they acknowledge that their 
movement is now focused on ensuring that the 
health package Congress passes includes pregnan- 
cy-related services. 

“For all intents and purposes, it is dead because 
we've gone on to more pressing priori ties," Pamela 
J- Maraido, president of the Planned Parenthood 
Federation of America, said of the Freedom of 


The president insisted that the principles of his 
sweeping plan were simple and that they would 
guarantee private health insurance 10 every Ameri- 
can, outlaw insurance abuses, preserve and extend 
Medicare benefits for older Americans and offer 
more people a choice of health coverage. 

“What are the special interests saying?” he 
asked. “Led by the extreme right of the Republican 
Party, they are warning of a grim future." ( Reuters \ 


Quote /Unquote 



Robert 0. Boorstin, a White House adviser, on 
polls that suggest people are confused about the 
Clinton health plan: “People really like the presi- 
dent's health care plan, but they don't know what's 
in the plan." (AP) 



P.nJ J. {bcfcanfo/Agaicc Fraocc-Pituc 

The Clintons arriving in Miami to promote their health plan. 


ny over their finances. Last July, 
Vincent W. Foster Jr., the deputy 
White House counsel who was not 
only Hillary Rodham Clinton's law 
partner but also one of (be most 
admired lawyers in little Rock, 
killed himself. 

Last week, Webster L Hub bell, 
the No. 3 person at the Justice De- 
partment who had been a mayor of 
Little Rock and a state Supreme 
Court justice, resigned to deal with 
accusations that he overbilled the 
Rose Law Firm where he, Mrs. 
Clinton and Mr. Foster were part- 
ners. 

“Some of what's happened has 
been sad beyond belief, and people 
are getting hesitant to comment 
publicly because no one knows 
what to expea next," Mr. Rosenz- 
weig said. 

No state in recent memory has 
had as much of its soul invested in a 
presidency as Arkansas has. Partly, 
that is a reflection of Mr. Clinton's 
12 years as governor, which left 
him with personal relationships 
with virtually everyone of impor- 
tance and many ordinary dozens. 


presence of grim-faced lawyers 
working with Robert B. Fiske Jr- 


working with Robert B. Fiske Jr n 
the speml prosecutor appointed to 
look imp the Clintons' investment 
in the Ozark mountain real estate 
development known as the 
Whitewater Development Co. 

Reporters, once welcomed for 

putting Little Rock on the map. are 
now viewed as buzzards inexplica- 
bly picking at andent financial 
transactions. 

Instead of the barroom gossip of 
who was going to get whai job. 
there are dark rumors about wbo 
may be the next to come home. 

“It's horrible, it's horrible,” said 
one leading businessman, who 
would only speak anonymously. 
“Every time 1 think we've hit a low 
point from which we might begin to 
rebound, it gets worse. And I think 
there will be more. You've got East 
Coast people people coming with a 
preconceived notion that they 
won't let go of. It's this century’s 
version of carpetbagging.” 


And partly, it reflects the hope that 
Mr. Clinton's election would erase 


Mr. Clinton’s election would erase 
the old Dogpaidh stereotypes of a 
state that George Bush derided in 
the presidential campaign as “the 
lowest of the low." 

Unlike Karl Marx's axiom that 
history repeats itself, occurring ini- 
tially as tragedy, the second lime as 
farce. Little Rock seems to be do- 
ing the reverse. 

Instead of the youthful army of 
campaign staff members and off- 
beat political celebrities like James 
CarviHe, there is now a permanent 


White House Political Strategists See California Statehouse as a Must 


By R.W. Apple Jr. 

New York Times Service 


SACRAMENTO, California — 
The most important electoral battle 
of 1994, they say with metronomic 
regularity at the White House, is 
the contest for the governorship of 
California. 


“From President Clinton's point 
of view," agreed Bob Mulhoilland 
of the California Democratic Party, 
“it's even more important than 
keeping control of the Senate. If we 


shoot ourselves in the foot and lose 
this race — and we well may — the 
Republicans could have 54 elector- 
al votes in their hands.” 

That judgment, which is shared 
by many here, rests upon the con- 
viction that Governor Pete Wilson, 
a Republican, has a solid chance to 
defy the odds, win re-election this 
fall and set himself up for a 1996 
presidential bid. 

For all its recent economic tra- 
vails and natural disasters, this vast 
state has the kind of raw political 


power few have wielded in the long 
history of the reoublic. 


history of the republic. 

It is the first state ever with more 
than 50 House seats. It has grown 
so much faster during the last three 
decades than the big states of the 
East and Midwest that it can now 
deliver, by itself, one-fifth of die 
electoral votes needed for victory. 

Winning California “is like lul- 


ling a 515 million lottery." says 
Stuart Spencer, a veteran Republi- 
can strategist. “None of the rest is 
worth more than 52 or 53 minion” 


Away From Polities 


policy after complaints that racist comments bad 
been 'made about the two non-Spanish-spealting 


• The Supreme Court allowed the seizure by the 
government of more than S10 million that allegedly 
represented drug proceeds laundered through variv 
ous bank accounts by the Cali, Colombia, drug 
ring, which sends more than three tons of cocaine a . 
month to the United States. 

• The Supreme Court has asked the Justice De- 
partment for the government's view on whether a 
company’s requirement that employees speak only 
English at woik violates the federal dv3 rights law. 
A San Francisco company with 33 employees, 31 
of whom are bilingual in Spanish, adopted the 


been made about the two non-Spanish-spealtiug 
workers, a black and an Asiatic. 

• Hie feffler of two women in 1969, who was pa- 
roled last .year, despite the efforts of his victims' 
relatives, is- back bound bars in- Eugene,_ Oregon, 
accused of sexually abusing a 4-year-old girl- Judge 
Loren L. Sawyer, who had sentenced him, said of 
Russell Obremski, 49: “From what I know of him, 
there was no indication that he was a pedophile." 

• Konrad Kak$s, 80, an accused officer in a Nazi 
execution squad in Latvia during World War II, 
lost a Supreme Court appeal challenging his depor- 
tation from the United States to Australia. 

Reuters, AP 


The presidential calendar has 
just beat changed in a way that 
rives the state even more political 
leverage. Instead of voting in June, 
when the race is usually all but 
settled, Californians will now vote 
in a presidential primary in March, 
when it is usually not. 

And the Republicans, who will 
presumably have the more in teres l- 
mg primary contest two years from 
now, intend to keep their winner- 
take-all role, which guarantees the 
viaor a huge block of delegates. 

Mr. Wilson has mounted an im- 
pressive comeback after a disas- 
trous start marked by tax increases 
and fumbles on important issues, 
including homosexual rights. 

His most likely challenger, the 
state treasurer, Kathleen Brown, 
has raised a $5 million war chest 


into the state as possible, given the 
straitened condition of the federal 
purse. 

He won the state with only 46 
percent of the vote in 1992, and the 
21 percent that went to Ross Perot 
may well be up Tor grabs by the 
major parties in 1996. 

Mr. Clinton's task is complicated 
by the slate's anxieties, born of 
floods, fires and earthquakes, riots 
and bank failures and base clos- 
ings. Californians have become a 
cluster of Cassandras, fretting in 
the sunshine. 

While other local industries are 
flour ishing , including biotech, en- 
tertainment and computer soft- 
ware, and while reconstruction ef- 


forts have given the Los Angeles 


economy a tempo! 
quake lift, California has been dev- 
astated by base closings and die 
shrinkage in military procurement. 

The total job loss has been vari- 
ously estimated at 500.000 to 
800,000, and some economists have 
suggested that 100,000 more may 
go before the state finally joins the 
national upturn. 

What has helped the president 
most, potitirians of both parties 
agree, has been his prompt assur- 
ances of help and hisjrersonal visit 
after the earthquake m January. 

Statewide, according to the Field 
poll, more than two- thirds of voters 
say Mr. Clinton responded well to 


that crisis, though 57 percent de- 
scribed his response to the state's 
overall problems as either poor or 
only fair. 

“Clinton is in far better shape 
herein 1994 than Bush was in 1992, 
even with all the base dosings,” 
said the pollster, Marvin Field. 
“People rive him credit for trying.’’ 

Still, Tom Epstein, the White 
House official who spends full time 
worrying about California, ac- 
knowledges that “we have only a 
limited capacity to fix things out 
there, and if the Southern Califor- 
nia economy doesn't come back 
strong in the next two years, then 
all the good deeds in the world 
aren’t very likely to save us." 



but has failed, so far, 10 project a 
clear picture of herself. She is still 


known mainly as the daughter of 
one former governor of California 
and the sister of another. 

Mr. Clinton has taken California 
more seriously as a political base 
than any modem Democratic pres- 
ident, traveling here nine limes 
since he took office, sending top 
aides when he could not come him- 
self and funnehng as much money 


T e l e v i s i o \ ’s Only 24-Hoir Global IVews .\ethork 


Four hundred of the 
world’s most prominent families 
call Fisher Island home. 


A 



Fisher Island is one of a few places 
in the world where people can truly 
enjoy a remarkable lifestyle. 

It is a 216-acre sanctuary of 
lovely homes, beaches and recre- 
ational pleasures, providing the 
finest in a serene, pampered 
environment. 


Im J. and Audrey B. Kaufman 0* their UO-Jbot 
yacht, Gray Mist //, moored at Fisher Island. 
Formerly Chairman and Chief Extensive Officer 
of Exchange National Bank of Chicago, Mr. 
Kaufman is Chairman Emeritus of Rodman 
& Renshas Inc. 


Its seaside residences are as huge 
as 9,000 square feet, with 5,000 
square-foot terraces overlooking the 
Gulf Stream, Biscayne Bay and the 
skylines of Miami and Miami Beach. 

Created by William K. Vanderbilt 
II, great grandson of Commodore 
Vanderbilt, Fisher Island has been a 
favorite of the world's important peo- 
ple for 70 years. 

The family's spectacular winter 
estate included a dramatic home by 
the ocean and charming cottages and 
guest villas amid resplendent gar- 
dens and fountains. The mansion 
and surrounding structures have 


INTERNATIONAL 










K£ 


m, 


m 



been restored to their former 
grandeur as centerpieces of The 
Fisher Island Club. 

In recent years, impressive recre- 
ational facilities have been added. 
There is a P.B. Dye championship 
golf course; an international spa 
lauded as one of the finest of the 
1 990s; a racquet club with clay, 
grass and hard courts; two deepwa- 
ter marinas; a mile of Atlantic beach; 
and a variety of restaurants. 

There also are manicured parks; 
an island shopping plaza with a 
bank, post office, trattoria and dock- 
master’s office; and an atmosphere 
of security that allows residents to 
lead a life of privacy and pleasure. 

LinJe wonder, 400 of the world's 
most distinguished families, hailing 
from 39 countries, call Fisher Island 
home. 

TYe invite your inquiry. 

Residences $800,000 - $6,000,000 


FISHER ISLVND 





Unlike any community 
in the world 




Fisher Ishind, Florida 33109 
(3051 535-6071 / (B001 624-3251 
Fax (305)535-60011 

Restored Cottage and Villa accommodations 
available from $425 ro $1,000 per night 


•h hcNcwkrw Rnl B%mw tlnmmfaMPiL NjRKC W-71 1 w 716. Rgffnwiinn duemutamwfamean cn d oncmc w t of ihe mcri&nr wlue iif the pft> 
Thh propM » K|!Mcreii nM » { HTerinR wsrcnww hefurc xiftnlitA anydilo*. 'ITU* li IHK sn ofTcrinK «» »ny peoan In uty sww where such on offciin* n»? nw tawftdl> 

j ecu ni*nn end rwd d* V" J"** 

he nude. KuusHlnuu-naHW^"""^- — 


For more information regarding advertising opportunities, please contact 
Kay Delaney in New York City, at (212) 852-6956, Nan Richards in London, 
at 44-71-637-6700, Nobi Hashimoto in Tokyo, at 81-35-466-1561, 
or Lynne Kraselsky in Hong Kong, at 852-802-7228. 


i 




Page 4 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, MARCH 22, 1994 


pa rtn • rta 



Ungain 




4 * 


8 » 


*9 


PARTNER COUNTRY HUNGARY 
at the Hannover Fair '94 


Ideas 
for the 
Industry. 


its itself as an industrial 
nation with high research and 
development potential. 


■ ■ HEIS5T IDEE UND GEIST 

Ungarn 



f 


HANNOVER 
MESSE 94 

20. -ZZ ANN.HM 


Further information: 

Deutsche Messe AG - 1 
D-30521 Hannover - tel. +5ft-89-0 
Telex: 92 27 28 
Fax: +511 -89-326 26 
Teletext: *30 143# 


Teaching Hospitals 
Make Their Point 

President, Heeding Doctors, 
Promises Increased Funding 


By Adam Clymer 

New York Times Service 

WASHINGTON — Heeding 
complaints from several major 
medical schools and teaching hos- 
pitals that their precarious finan- 
cial futures would become worse 
under the proposed health care 
overhaul. President BOl Gin ton 
has agreed to support revisions that 
would provide more money for 
them. 

At a meeting last week in Boston, 
Mr. Clinton also pleased represen- 
tatives from academic health cen- 
tos by pronuring a slower pace of 

diany. 

Doctors who were present said 
they were impressed with his un- 
derstanding of the predicament 
(hey face: that they are already 
losing patients to other institutions 
that can offer lower prices because 
they do not have the extra costs of 
teaching and research and that 


those losses threaten the future of 
medical education. 

More federal money would allow 
them to cut their rates and compete 
for business, they said. 

Politics was clearly an element, 
too. Seeking expert witnesses who 
can help persuade the public that 
his plan would mean better health 
care for the nation, the president 
mged the doctors to voice their 
support 

No deal has been struck. In fact, 
few doctors or administrators in 
the aeademic world, except those 
who met with Mr. Clinton, are 
aware of the president's position 
and the backing it has in crucial 
Senate committees. 

But Mr. Clinton got the first in- 
stallment on the support he sought 
when the meeting aided and Dr. 
Mitchell Rabkifl, bead of Boston’s 
Beth Israel Hospital and the 
group’s spokesman, said: “The 
consensus is: The president’s bill is 
a winner." 

Since Mr. Clinton’s health plan 
was first proposed last September, 
the academic institutions had com- 
plained that provisions intended to 
correct academic medicine’s diffi- 
culties were inadequate. They also 
said his goal of producing more 


UJ&. Promises Refugee Aid 

Reuters 

LONDON — ■ Britain on Mon- 
day pledged to provide $3.35 mil- 
lion m aid to Armenia. Azerbaijan 
and Georgia to help more than 1.25 
million refugees- 


p rimary care physicians and fewer 
specialists was too rigid. 

The medical leaders have two 
principal spokesmen in the Senate, 
and Mr. Canton has met with both 
and made his shift dear. In Boston, 
be met not only with the doctors 
but also with Edward M. Kennedy, 
the Massachusetts Democrat who 
heads the Senate Labor and Hu- 
man Resources Committee. In 
Washington on Thursday, he met 
with Daniel Patrick Moynihan of 
New York, chairman of the Senate 
Finance Committee. 

Their panels are handling health 
legislation in the Senate. The chair - 
men said that their committees, re- 
Hess of whatever else was in 
sir health care bills, would write 
legistation to protect the future of 
medical research, medical schools 
and teaching hospitals. 

“We are in the great age of dis- 
covery in medical science, and it is 
taking place here in the United 
States.” Senator Moynihan said. 
“That’s a responsibility to human- 
kind, not just our own citizens, and 
well do it" 

There is no precise dollar com- 
mitment yet But Dr. Philip R. Lee, 
assistant secretary for health in the 
Department of Health and Human 
Services, said he expected the ad- 
ministration to support more than 
the 59.8 billion a year that Mr. 
Clinton first offered for academic 
institutions. 

Without predicting what that 
amount would finally be, Dr. Lee 
cited arguments presented by Dr. 
Michael Johns, dew of the medical 
school at Johns Hopkins Universi- 
ty in Baltimore, who has said that 
an additional $9 billion a year 
would be needed to keep the aca- 
demic centers “on a lewd playing 
fiekL” 

In ample terms, the problem 
faced by the academic centers is 
that teaching new doctors and con- 
ducting research is an expensive 
and ineffirient way to run a hospi- 
tal, which forces the institutions to 
charge high rates. 

As pressure has grown nationally 
to hold down medical costs, insur- 
ance companies have placed limi ts 
an what they will pay, driving pa- 
tients away from the academic cen- 
ters. 

Leaders of academic centers ar- 
gue that the federal government 
should recognize their importance 
to the nation both as training 
grounds for doctors and as the in- 
stitutions best able to deal with the 
rarest and most difficult medical 
conditions. 



A 53-POINT REPLAY —A bulldozer leveling rubble Monday in Van Nuys, California, after an earthquake registering 53 on the 
Richter scale hit the Los Angeles area. The aftershock to the Jan. 17 quake set several fires and cracked freeways, but high ways a nd 
schools were open Monday. Two people were hurt, and rehearsals for the Academy Awards ceremony were briefly mterrapfed, 


Capital Blues: Red Ink , White Knuckles 


By Karen De Witt 

New York Times Service 

WASHINGTON — This city has such huge 
financial problems that it may be forced to 
borrow money from (he federal government to 
pay its bills, officials say. Such a move would be 
a blow to efforts by the District of Columbia to 
win more independence from Congress. 

“The situation is that they have really had 
unbalanced budgets for the last several years,' 1 
said Philip M. Dearborn, a financial research 
director of the U.S. Advisory Commission on 
Intergovernmental Relations. “They’ve used up 
all their cash and are in a very difficult cash 
situation now." 

Already, the district gats about one-fifth of 
its S3. 4 bdlion budget from the government; the 
rest is supposed to come from taxes and fees. 

To avoid a bailout, which many politicians 
here would see as undermining the district’s 


efforts to gain more control over its own affairs. 
Mayor Sharon Pratt Kelly has proposed post- 
poning a required payment of $230 million to 
the city’s pension fund this year. That would 
allow the district to end the year with 575 
million, but it would also face challenges in the 
courts and in Congress and seemed unlikely to 
succeed. 

Cutting spending enough to find the pension 
money is virtually impossible, officials say. 

The District of Columbia, though governed 
by a mayor and a 13-member City Council is a 
unique entity whose political decisions, includ- 
ing its budget, can be vetoed by Congress. The 
district does not have the power that the states 
and some cities do to raise money, but it still 
must provide the kind of services that states do 
— welfare, Medicaid, prisons and courts. 

The district is also prohibited by Congress 
from taxing commuters to recoup the cost of 
public services used by suburban residents who 


work in the city. Moreover, half the real estate 
in the district is exempt from taxation because 
it is used by the government, wtibasaies ot 
nonprofit institutions. 

The city has faced financial problems once it " 
won limited political independence in 1974. 
During Mayor Markin S. Barry’s 12 years io 
offioe, the city borrowed 5150 million to 5300 
million a year firm private lenders. Mayor 
Kelly etimmated that practice with a 5336 mil- 
lion band sale in 1991, at the end of her firtt 
year in offi«-Thrt erased thedty’saccmriulai- ' 
ed deficit and put the district in its best firris^: : 
dal condition since limited home ride began. 


experts say. 
But o' 


Jut over the last three years, tbe city’s budget . 
has been balanced only through a series 7 of.-' 
accounting maneuvo-s. Now tlw mayor's office, 
projects that if nothing is done the city’s annual 
deficit will increase to almost S8p0 ja3fiDh bjr 
the year 2000. 


Rightist Falls Just Short of Victory in El Salvador 


Reuters 

SAN SALVADOR — The gov- 
erning rightist ARENA party led 
El Salvador’s elections Monday, 
but its presidential candidate was 
short of the 50 percent of votes 
needed for a first-round victory, 
official results showed. 

With 63.25 percent of votes 
counted, the candidate of the Na- 


tionalist Republican Alliance, or 
ARENA Armando Calderon Sol 
had 49.62 percent of the vote. 

His archriva] Ruben Zamora, 
whose leftist coalition is headed by 
former guerrillas of the Farabundo 
Marti National Liberation Front, 
had 26.67 percent, the Supreme 
Electoral Tribunal said. The Chris- 
tian Democrat candidate. Fidel 


Chavez Mefia trailed with 14.97 
percent A runoff is to beheld with- 
in a month. 

Mr. Caldenta Sol had claimed 
outright victory late Sunday when 
eariy returns showed him with 
more than 50 percent of the vote. 
But iris share slipped steadily over- 
night as results came in from rural 
areas where the Farabundo Marti 


National Liberation front had. 
most of its support throughout a 
civil war. .• . 

The elections were seen -as the 
c ulmina tion of S Salvador's demo- 
cratic transition after United Na- 
tions peace accords ended the war 
in 199Z bat leaders of the oppoa- 
tion have claimed widespread 
toral irregularities. 



BOOKS 




EVENING 



MARK YOUR AGENDA 

And plan to attend this two day summit, which 
will provide an up-to4he-minute overview of 
Malaysia's economy, with a particular focus on 
opportunities for foreign investment 

The conference format of plenary sessions 
and open discussion periods will offer a 
unique opportunity for in-depth dialogue with 
a distinguished group of government and 
business leadezs from Malaysia 

FOR FURTHER INFORMATION, PLEASE CONTACT: 

Fiona Irwin 

International Herald Tribune 
7th Floor; Malaysia Building 
50 Gloucester Road 
Hong Kong 

TeL- (852) 9222 1176 Fax:(852)92221190 

Beralh3»ibutte 


‘ PU-T 


v *. * :^C-‘ .^1 


•Sg, 

> . V.jv 


>*■ , 

■Vti 


F 


THE HISTORY OF THE 
GINGER MAN 

By J. P. Donleavy. 517 pages. 
$32.50. Houghton Mifflin. 

Reviewed by Robert Day 

T HE reader gets three books for 
tbe price of oue in J. P. Don- 
Ieav/s “The History of the Ginger 
Man." Tales of literary Dublin af- 
ter World War O are intertwined 
with a loopy autobiography of 
Donleavy (called “MfloT by his 
friends) that is in turn bracketed by 
an impassioned account of the pub- 
lishing of Donleav/s celebrated 
first novel, “The Ginger Man." The 
last story is worth the candle; the 
other two: maybe. 

The original “Ginger Man," 
mblished by Maurice Girodias in 
1955 in his Olympia Press Travel- 
ler’s Companion series, featured 
Sebastian Dangeifidd, an Ameri- 
can law student studying at Dub- 
lin’s Trinity College. Sebastian was 
| something of a brawler and a he- 
donist. He's the character who a 
reviewer in the Toronto Globe and 
Mail said gave “moral turpitude a 
new lease on life.” Like his charac- 
ter. Donleavy was an expatriate; it 
was not until 1967 that he became 
an Irish citizen. 

The problem with telling the tale 
of literary Dublin after World War 
□ is that there was no there there. 
Beckett had left for Paris; Yeats 
and Synge and Shaw were all dead. 
Dublin circa 1 946 is not Nabokov’s 


WHAT THEY BE READING 




• The Reverend Jesse Jackson is 
reading "The Rape of a Privileged 
Class" by EDis Cose. 

“This is must reading for anyone 
who wants to understand the feel- 
ings of African Americans today." 

(flise Gersten, IHT) 



Berlin circa 1935 or Edith Whar- 
ton’s Paris circa 1905. Donleavy is 
of course in Dublin (as a student at 
Trinity), as are a number of his 
friends who make their way into 
“The Ginger Man." Beyond this 
largely student tribe, there is the 
drunken, profane Irish writer Bren- 
dan Behan. At the end of 50 pages 
Donleavy bolts the Dublin pubsTor 
western Ireland. 

Who can blame him7 Anthony 
Burgess once remarked that to live 
in Dublin as a writer was to talk 
away all your stories over pints of 
Guinness. You save tbe taxes, but 
saving the taxes on zip royalties is 
the land of fiduciary policy that 
seems sound only to an in-his-cups 
Irishman. Donleavy — if not Behan 
— seemed to have figured this out It 
is after DonJeavy moves to the rural 
village of KDcode that be begins 
serious work cm “Tbe Ginger Man." 


Our author might be able to leave 
Dublin behind, but not Behan. The 
profligate Irishman shows up from 
time to time to scribble coalmen is in 
the margins of Donleavy’s burgeon- 
ing text Behan isn't so' much T. S. 
Ehot's Ezra Pound as Hemingway’s 
Fitzgerald. There is more outra- 
geous behavior than audacious liter- 
ary advice. But then there are the 
Behan oaths: neat strings of pro- 
fanity going off like IRA bombs in 
the midst of manicured garden par- 
ties. How lovely it is to read about a 
time, not so long ago, when vulgar 
language and personal insults had 
the explosive power of rudeness in- 
stead of turning into the switch- 
blades of litigation. 

Literary autobiography is a curi- 
ous form. Authors as writers make 
little happen. Nevertheless, it is their 
writing that usually makes their lives 
worth writing about. The problem is 


that moving die pen (or carriage or 
cursor) across the page (or screen) 
from left to right a bcwpfc of hub-' 
died times a day is hot the fodder? 

[or stimulating description. As Bob- 
wefl has taurfit us, it is wbat authors 
say that makes for good literary bi- 
ography. 

It is what writers think that 
makes them interesting: Nabokov 
in “Speak Memory” daydreaming 
about the color of words; Hettfflg- 
way in “A Moveable Feast” pofr . . 
templating the nature of rich wom- 
en; Edith Wharton in “A Backward 
Glance" considering a writer’s duty 
to society. •- 

“The History of the Ginger Man" 3 
— at least until we grt to kgalwran- ■ : 

gles over the allegedly offenaveiKW- 
el — doesn’t seem to have much rf ^ -- 
the author’s mind at work. Maybcit 
is a case of modesty. Modesty u opt 
a virtue in literary autobiography, 
and the result for “The Ffistoiy of 
the Ginger Man" is that tbe mmor . 
characters are more interesting than 
the major cares — Girodias. for 
example, who published the nnex- ;V - 
puigated "Ginger Man” in Fari&iri ,-X 
1 955 (that veraum didn't make h id *' 
the United States until 1965). 

The book’s best story is the legal -T 
battle between Donleavy and Giro* i.\> 
dias over the publishing rights, to ■ 
“The Ginger Man," with one Ugh- . 
light being what Donleavy consd* ^ 
end the initial betrayal of iadodr # ■:/; 
ing the novel among the press’s •' 
pornographic titles. “I had fo-db it : -V 
to make money," the publisher d- 
“And of — 


: fc; ^ 


plained, 
body I like 


CHESS 


£ •v.-.-'t ! 




By Robert Byrne 

V ISWANATHAN ANAND 
faced Artur Yusupov in the 
Internationa] Chess Federation 
elimination matches. In Game 5, 
Anand's victory featured a new 
idea in a sharp variation. 

That there is no rhyme or reason 
to the naming of chess openings is 
shown by the Siesta Variation. Far 
from sleepy, its key move, 5...f5. is 
the introduction to a tricky gambit 
Most players avoid that kind of 
trouble by continuing to develop 
with 7 O-O, as An and did. But after 
i T„Bd3 8 Rel Be7, it does not pay 
for White to become greedy with "9 
Re3?! e4 10 Ncl because lQ...Bg5 
II Nd3 Be3 12 Nb4 Bf2! 13 Kf2 
Qh4 14 Kgl Nh6 15 Qfl Ng4 16 
Qf4 Rf8 17 Qg3 Rfl! 18 Kfl Nh2 
I9Qh2 20 Reagns was the outcome 
of a Michel Adams-Jeroen Piket 
game in Wijk-aan-Zee in 1991. 

After 9 Bc2 Bc2 10 Qc2 Nf6 1 1 
d4 O-O, the previously accepted 
One, 12 de NeS 13 Ne5 de 14 Nd2 
(14 Re5? Ng4 15 Re2 Bc5 16 Be3 
Qh4 17 h3 Ne3 18 fe Rae8 wins for 
Black) yields White little. Bui An- 
and produced the inspiration of 
dosing the center and establishing 
a grip on the light squares with 12 
H? The pawn was immune be- 


VUGUPOV/BUtCK 



abed • I a 
ANANOfWHfTE 

Position alter 24... Qc6 

cause 12_.Nd5? 13 Qb3 costs Black 
a piece. 

Rather than retreat with 
12-.Nb8 and let Anand assure him- 
self of a slight superiority with 13 
NgS Qc8 14 c4 Nbd7 15 Ne6 ReS 
16 Nc3 NfS 18 Nf8 Bf8 19 Be3, 
Yusupov chose the aggressive 
12~e4 13 Ng5 Ne5 14 Ne6 Qd7. He 
was undoubtedly hoping for 15 NfS 
Qg4! 16 Nd2 NI3 17 Nf3 er 18 g3 
Qn3 followed by mate. 

But Anand cut down Yusupov’s 
attacking chances with 15 Nd2!. 
one point being that IS...Nd3 
would be defeated by 16 Re4! Ne4 


17 Ne4 Ncl 18 Nf8 Rf8 19 Rcl. 
Also, I5.J4d5 16 NfS Rf8 17 Ne4 
; Qg4 18 Ng3 leaves Black the ex- 
change down for nothing. 

The result of I5_x3 16 Re3 Nd5 
17 Nf8 Ne3 18 Qh7 Kf8 19 fe was 
to put Anand a pawn ahead. More- 
over. alter 19_Re8 20 e4 d5 21 
Nb3! de 22 Be31. threatening 23 
Rfl Bf6 24 Rf6! gf 25 BhtiTthe 
Indian showed that he could switch 
powerfully to attack. 

Anand's 24 Bd4 threatened 25 
BT6 Nf6 26 Rf6; there was no use 
defending by 26— Kf7 because 27 
h3 Ne5 28 Nc5 Qd5 29 Ne4 would 
speed the white attack. Yusupov, 
having less than a minute on his 
clock and lacking a defense any- 
way. blundered with 24_Qc6 and 
was struck by 25 Bc5! Since 
25„.Kf7 drops the knight to 26 
Qh5, Yusupov gave up. 


course, like any- 

- ? rich." 

The charm of “The History of 
the Ginger Man" lies in those 
scenes that glow in your mind: 
Donleavy walking through Lon- 
don’s Fulham neighborhood 
pounding the covet of his just-pub- 
lished novel and saying: Tf It's the 
last thing I ever doTi will avenge 
this book." Or Girodias signing ms 
letters to Donleavy "Toodle oo.” 
Or Donleavy writing on die wrap- 
per in winch he seat the manuscript 
of “The Ginger Man " to Pans: 
“Manuscrii Htteraire, suns valor 
commerdale" (literary manuscript 
with no commercial value). In these 
moments the book springs to life 
with as much vigor as did Sebastian 
Dangerfield nearly 40 years ago. 

Robert Day, ike author if -vJSr'. 
Last Cattle Drive ” and " Speaking 
French in Kansas,” wrote . this far 
The Washington Post. 


Vi ' ” 


BUY LOPEZ 


wttu 

Btncic 

While 

Anand 

YnsapOT 

Attend 

1 e4 

1 ND 

eS 

Nc8 

13 NgS 

MM 

IBM 

of 

15 M2 

4 Ba4 

os 

10 ReS 

5 C3 

n 

17 Nfl 

0 ef 

BtS 

10 Qb7 
W fe 

704) 

Bd3 

t Bel 

Be? 

20 ed 

1 Bc2 

Bc2 

2i ran 

SF 

Ntt 

22 Be3 

W> 

22 Rfl 

12 as 

ei 

24 B44 

25 Bc3 


Black 

Ynsapav 

NeS 

sr 

NdS 

NeS 

KA 

Red 

dS 
6e 
Bn. 


To our majors in Germany 

Vs new been eewer ' . 
b subscribe and sow 
-just cal our 
Franfcfurt office 
jpg-fee 0130-848585 
or fee 069-175413. 

From Austria 

aJ us loanee 0660 81 55 : 
err fax: 060691 7541 1. : 












INTERNATIONAL HERALD TRIBUNE, TUESDAY, MARCH 22, 1994 


Page 5 






Cambodia Japan Backs China on Rights 

Builds Oil Western Ideas Have Limits, Hosokawa Told Li 

A \ / -J c*79«/f j h- Oar Ann DupaicAa conference on human rights last during Mr. Christopher’s visit, ant 

T lLlOrV TOKYO — In a slap at Wash- year. told him Beijing would never b<w 

J mgton's policy on China. Prime . ™ r - Hosokawa explained to to foreign pressure. 

» Minister Morihiro Hosokawa of wwii u iimim t.:«i «- S.Jj — w. /-•v— 

Japan said Monday that he had 
told his Chinese counterpart, U 




Fresh Troops Sent 


conference on human rights last 
year. 

Mr. Hosokawa explained to 
journalists accompanying him on 


during Mr. Christopher's visit, and 
told mm Beijing would never bow 
to foreign pressure. 

On Sunday. Mr. Christopher 





Tn CnnhiTtoJ the Western concept of 

A It LUpiUiou DOSS human rights should not be blindly 

■ „ applied to all nations. 

■ Compiled by Oar Staff From Dispacha “I told him that it is not proper 
KON DAMREI, Cambodia — t0 force a Western- or European- 

Ine Cambodian Army poured re- 9P* democracy onto others/ Mr. _ 

mforcements into the former Hosokawa said while flying back to favorable trade privileges. 
Khmer Rouge headquarters erf Pai- Tokyo via Shanghai after his three- The latest remarks bv il 
hn cm Monday, and a gove rnment ™y trip >0 China. 


journalists accompanying him on On Sunday, Mr. Christopher 
the flight back to Tokyo on Mon- said he r emained optimistic that 
day that he did not intend to rebuff China would meet Washington's 


Peng, that the Western concept of recent efforts of the United States demands for improvements in hu- 
human rights should not be blindly to pressure China to improve its rights and avoid the loss of 
applied to all nations. human rights record. But his re- favorable trade benefits. He held 

“I told him that it is not proper marie was an implicit rejeoion of out prospects that the United 
to force a Western- or European- the U.S. policy of linking China's States might separate its human 
type democracy onto others/ Mr. human rights policies to giving it rights and trade policies in the fu- 



■«? 


«*ewa\<Lh> I »w&r s 


u ner iS ou f B hea<3< l uar rers of Pai- Tokyo via Shanghai after his three- The latest remarks by the Japa- 

"P.PP Monday, and a government trip 10 China. ncse prime minister could set off i 

commander said the bade of the “I made the same stat emen t fresh dispute with Washington and 
gucr nUa resistance had largely when I met President Clinton last deteriorate already worsening rda- 
r°. fo L? ow ' November," Mr. Hosokawa said, dons with the United States. A 

■ ■# • “ c ^” me r Rouge have His remarks were made at a ban- meeting between Mr. Hosokawa 

just uicd to escape whenever they Quct given by Mr. U on Saturday, and Mr. Clinton broke down last 
cam ont tnqj don’t know where to Japanese Foreign Ministry o fficials month after Japan rejected a U.S. 
8°' said. General Pol ;Saroeun, traveling with Mr. Hosokawa had demand for numerical targets to 

r^ 11 ^ *he general staff. not made his statement public to measure market-access improve- 

, n s P°^® sinan ssid reporters in Beijing. They had only ment in such areas as insurance, 

m 1 €ambodi- said the Japanese prime minister medical equipment procurement 

ans had sought refuge in Thailand urged Beijing to improve its human and telecommunications. 

S. , a^-SSSSiESf. w : «f &«« w«*» m. 


deputy chief of the general staff, 
j A Thai military spokesman said 
in Bangkok that 25,000 Cambodi- 
ans had sought refuge in Thailand 
to escape the fighting around Pai- 
lin, and that they would be allowed 
to stay on humanitarian grounds 
remonv were bri*>n, “til die situation returned to nor- 

,en > dWenimy mal. 

""" Thai military officers said those 

__ fle ein g into Cnanthaburi Province 

1/ -a -m included Thais who had been log- 

f\ Iff J I /» f/» I- ging or mining for gems in the Pai- 

hn area under contracts that pro- 
^ vide large revenues for the Khmer 
Aec:i\. , Rouge. 

istnet if exerr.pi f‘«r! n i»» But ref hgees also included 

sd rv ths families of Khmer Rouge soldiers, 

it institutions u It was the fust significant refugee 

itx has exodus imo Thailand since the 

:u ted poh u - .wlTj tb, United Nations finished repatriat- 

Mavor M - i -.i T* . w in to ta B 360,000 Cambodians in April 

he ci f v x— . Z7 : i l: ta- 1993 * 

J \ - / r . ,-r, ' ^on b g A Reuters correspondent on the 

iCTden )£ ■ Thai side of the border estimated 
id ACrO a $33fe that hundreds of unarmed Khmer 

4 f , CV” the end of jgL Rouge guerrillas were among the 

refugees. 

V ‘.'L “*? id i is hen Eft A Cambodian government offi- 

; " ' !r -“ -reitej Home rukte, cer said the town <rf Pailin, which 

^ _ ^ the government says it occupied on 

iTT .'* n 5 ri? - j“- K > eirs. the cin'sii^L Saturday, was still coming under 

mroiiEh a harassing fire fran guerrillas in 
reg ir^r.eu’.c:.. No-* thc'mavoi'j* surrounmng hills. • 
i Ihj'. -.fr. ’ h:r£:> cone the aVs to A helicopter due to take the 

yiii .Tei-c S^OO Cambodian chief of staff, General 


n El Salvadtt 

•f L-rr-a:j« Franh 

m- -upper, throws 


r r/.: : rt.. were «3 b: 

" • * E' Stfl-.aacrJE 

' rcr. -..:: 

e:.-Jsda*i 
■1 y. s-xe 

.-.i-trec *’ce^rtS5 


Rouge guerrillas were among the 
refugees. 

A Cambodian government offi- 
cer said the town of P ailin , which 
the government says it occupied on 
Saturday, was still coming under 
harassing fire from guerrillas in 
surrounding hills. ■ 

A -helicopter due to take the 
Cambodian chief of staff, General 
Ke Kim Yann, to the town had to 
land about four kilometers away, 
the officer said. 

Pailin is about 355 kilometers 
(220 miles) northwest of Phnom 
Penh and 12 kilometers from the 
Thai border. 

General Saroeun said the gueril- 
las had split up into small groups to 
carry out ambushes and harming 
actions. He estimated Khmer 
Rouge casualties at more than 100 
killed, compared with government 
casualties of 7 killed ana 22 wound- 
ed in the operation. 

“It’s not been easy," he said at 
his tent headquarters 24 kilometers 
from P ailin “We’ve gone through 
many difficulties.'* - • 

But the general said he doubted 


not made his statement public to 
reporters in Beijing. They had only 
said the Japanese prime minister 
urged Beijing to improve its human 
rights record. 

Japan is locked m a difficult dip- 
lomatic situation: It wants to 
strengthen ties with China, the 
world’s fastest growing economy, 
while facing a bluer trade dispute 
with the United States. 

A spokesman at the Chinese For- 
eign Ministry said Mr. Hosokawa 
had said at the banquet that he 
fully understood Mr. Li’s position 
on human rights, and lauded Mr. 
Li for China's active role in a woiid 


KOREA: 

Crisis Deepens 

Continued from Page 1 

expressed “grave concern’* over 
North Korea's refusal to allow in- 


Christopher, in Tokyo earlier this 
month before going on to Beijing, 
asked Mr. Hosokawa to cooperate 
with Washington in pressing China 
to better its human rights record. 

Mr. Christopher later warned 
China’s leaders that they stood to 
lose their preferential trade status if 
they did not show progress on hu- 
man rights. 

Chinese police rounded up more 
than a dozen dissidents before and 


hire. 

“I still have high hopes they are 
going to be doing enough so we can 
find them in compliance" and re- 
new the trading status, he said, not- 
ing two months remained before a 
decision was needed. 

Chinese leaders have vehemently 
Opposed linking the tWO, elfliming 
that its human rights standards are 
an internal matter and that Asian 
nations have a different concept of 
rights than the United States and 
Europe. 

In Honolulu on Sunday, a top 
Chinese official welcomed signs 
that the United States might com- 
promise in its dispute with China 
over human rights and said Beijing 
was willing to discuss the issue as 
long as it was not linked to trade. 

‘^The Chinese government has 
made it very dear that we are will- 
ing to discuss the issue with other 
countries,** Finance Minister Liu 
Zhongli said. lKaanAf) 


Tiananmen Police 
Seize Leafleteers 



Compiled by Our Staff From Dispatches 

BEIJING —At least two women 
tried to distribute leaflets in Tian- 
anmen Square on Monday before 
dozens of policemen rushed to sub- 
due them and seized at least one 
foreign journalist's film, witnesses 
said. 

In a separate inddent, a man was 
detained outside one of Beijing's 
special residential compounds for 
foreigners after showing reporter 
leaflets supporting democracy that 
he said he planned to throw m the 
square. 

The witnesses in Tiananmen 
Square said they saw leaflets being 
thrown into a crowd in the square, 
site of the 1989 student-led demon- 
strations for democracy, which 
were brutally crushed by the army. 

The police immediately scram- 
bled to gather all the pieces of pa- 
per and to deal with the leaflet 
throwers, the witnesses said. There 
was no indication what the leaflets 
said. 

The Foreign Ministry, in effect. 


vision network. Die reporters were 
covering a meeting of the national 
legislature, which is at the Great 
Hall of the People on the west side 
of the square. 

Later Monday, a government 
employee named Gao Hongmii^ 
visited the office of a Western tele- 
vision network to show them copies 
of a leaflet he said he wanted to 
distribute in Tiananmen. 

The leaflet called for a fully free- 
market economy, gradual steps to- 
ward democracy and a reversal of 
the official verdict on the protests 
for democracy in 1989. 

Mr. Gao, 44, said he was work- 
ing alone and had no connection 
with the morning leaflet attempts. 

He was grabbed by security 
agents upon leaving the guarded 
compound and thrust imo a car. 
witnesses said. 

The police in recent weeks have 
detained and interrogated a num- 
ber of dissidents. 

In addition to a tiny democracy 
movement, Beijing also has a Quin- 


ine roreign Ministry, m effect, movement, Beijing a iso nas a num- 
denied that the police had taken the ber of people who have expressed 
pamphleteers imo custody, saying, anger at the current visit of Prime 


_ , _ _ Miaad CMrauAjeaLt Franec-ftc-c 

A Chinese di ssiden t. Can Ho ngmin, showing his protest leaflets cm 
Monday in Beijing. He was arrested in & street a while later. 


pamphleteers into custody, saying, 
■‘Two Chinese women were 
stopped by other citizens for dis- 
turbing public order.** 
Piainciothesmen wrestled a cam- 
era from Manuel Ceneta, a photog- 
rapher for Agence France- Presse, 
and returned it only after exposing 
the film. The police also hindered a 
cameraman from a Canadian tele- 


Mims ter Morihiro Hosokawa of 
Japan because of Tokyo's war re- 
cord in China. 

A Shanghai-based dissident. Bao 
Ge, who is fighting for compensa- 
tion from Japan for wartime atroc- 
ities, was detained by the police as 
Mr. Hosokawa arrived in the city, a 
family member said. (Reuters, APj 


. - : _*r per. • w csbe 

uipazswB 
r ■: “iv. j u^si’z 

.. u tr. mete 
.. -so::* 




: -‘irs 
*»: iitrr- 


' _ A-:rr- is» : 

^ ^ . ■ S£>: 

v-,. ■ 


the guerrillas could launch a suc- 
cessful counterattack as they did 
after the government overran their 
northern baseof Arilong Veng last 
month. 

“We’ve captured ammunition 
stockpiles ana they have split up,” 
he said (Reuters. A?) 


MONK: 

Thailand Scandal 


>s u occupied on ai, tne agency remains unable io 
! coming under verify that there has been no diver- 
m guerrillas in son of nuclear material," it said 
In referring the matter to the 
te to take the Security Council, the agency did 
f staff, General not recommend any specific action, 
the town had to The 15-nation Council is empow- 
ilometers away, ered to impose sanctions, but UN 
sources said the Council mi gh t give 
355 kilometers North Korea one more chance to 
vest of Phnom resolve the dispute through diplo- 
leters from the made channels before moving 
ahead on trade sanctions, the ster- 
said the guerril- nest measure the United Nations 
small groups to can take short of military force, 
s and banying Mr. Christopher said mat Wasb- 
nated Khmer ington would push for a UN resolu- 
more than 100 don against Pyongyang and that 
ith government ultimately it was “preparing for 
; ana 22 wound- trade sanctions." 

He predicted that China, North 
sy ," he said at Korea’s mam ally, would go along 
s 24 kilometers with such action for its own securi- 
■ gone through ty reasons, and would not use its 
- - veto power to block a sanctions 

lid he doubted resolution, 
launch a sue- China “has indicated in the past _ 
k as they did it would be very undesirable to 
it overran their have a nudear capability on the 
long Veng last Korean peninsula, Mr. Christo- 
pher said. 

I ammunition But China abstained from voting 
have split up," on the decision by the atomic in- 
( Reuters. AP ) spection agency, a UN body, to 
_______ refer the matter to the Security 

Council 

North Korea said in a statement 
l that U.S. actions, including the 

cancellation of the scheduled Ge- 
ncva meeting, were pushing the 
JlAMJUMM country toward withdrawing from 

.... . r. * the nonproliferation treaty. But 

Continued from Ptige 1 ^ ^ the United 

Phayom Kallayano. Phra Yantra, States had proceeded in a “patient 
43, aroused controversy initially and deliberate way” to make North 
for traveling abroad with large en- Korea open up suspect facilities, 
tourages of devotees, some of them He said the Clinton adminis tra- 
women, staying in hotels instead of xion would continue to proceed 
Buddhist temples and possessing “very deliberately" while taking 


- J / . ' ‘ ' <#i ,. 

" ; - r 

M V/. ^ 

-- ‘ =*:■ 
- ■/ — ' ^ ^ “ • cs- - 


two credit cards. He also often into account concerns that sanc- 
walks on pieces of white doth, tions could cre a te added tension on 
which followers lay on the ground the peninsula. Some strategists in 
for him to step on to bring them Washington fear that pushing 
good lock, a practice that some North Korea’s largely isolated 






.J 


' 7 VJ." 


- 


Buddhists believe leads to an un- leaders into a corner could goad 
due emphasis on the individual rhrm into an attack on the South, 
rather than on religious te achin g s . “I’m not trying to ratchet up the 
Some Buddhists have been tension," said Mr. Clinton, who 
jarred by published photos of Phra added that the North Koreans 
Yantra wearing Mongolian doth- could still avoid sanctions by coop- 
ing during a visit to Mongolia and era ting with the international corn- 
sitting on the back of a cow in munity. The president said that he 
Thailand. Buddhist monks must held out “some hope" that North 
not wear anything but their saffron Korea would allow foil inspection 
robes, especially not dothing made ofits nudear plants. 

. of fur or animal skin, and are for- Mr. Christopher said that there 
f bidden to ride on animals. _ were no immediate plans to aug- 
But the most serious charges are ment the 37,000 American troops 
that he violated his vow of cdibacy in South Korea, but that “well be 
with at least four women, including looking at that situation day in and 


-. r *: ■" 


~ V./ 

n-e j. 


a Thai who allegedly bore him a day oul 
daughter in Belgrade six years ago. 

Phra Yantra, who has been a monk g Hjr< 
for 20 years, denies the charges. 

A Cambodian-born Buddhist Times n 
nun, who is now a U.S. citizen, has Hour 
said that Phra Yantra seduced her Atomic 
on the deck of a Scandinavian ^ N 

cruise ship last year after temii| ber ^ j t , 

that they had been married in a 
previous life. A German femme ^ m 
devotee has written that he made non 0 f i 
improper sexual advances, and a ^ [jj e 
D anish harpist who performed for bj 

him at a monastery in Copaihagen Mmis tr; 
has said that they twice had sex m qynr in 
her van. . “the Ui 

Three investigative committees, 
induding one from the Education 
Mmistry s Rdigjcms Affairs Ue- confroni 
partmoiL have ruled that thjreis if the 
insufficient evidence of sexual nns- ^ 
conduct ... prolifers 

; last month, as the controvaw a signifi 
intensified, Phra Yantra checked ^ adn 
into a hospital after apparently suf- Northfl 
fering a stroke that temporary come tl 
paralyzed his left side. He left the nouncc 
Wjital March 10 to convalesce at wollW i { 
a Buddhist temple- dear we 


■ Unseats From the North 

David £ Sanger of The New York 
Tones reported earlier from Tokyo: 

Hours before the International 
Atomic Energy Agency look ac- 
tion, North Korea said Monday 
that it would no longer allow in- 
spections of its nudear sites. 

In an angry, six-page denuncia- 
tion of the Clinton administration 
and the atomic energy agency, is- 
sued by North Korea’s Foreign 
Ministry, the Communist govern- 
ment in Pyongyang charged that 
“the United States committed a 
perfidious act” that “may bring the 
Korean nation bade to the phase of 
confrontation and war." 

If the North carried through on 
its threat and left the Nudear Non- 
proliferation Treaty, it would mark 
a significant setback for the Clin- 
ton administration. Ever since the 
North threatened a year ago to be- 
come the first signatory to re- 
nounce the treaty — a step that 
would leave it free to produce nu- 
clear weapons — the United Slates 
has engaged in an enormously Com- 
dex effort to use economic and 




Since then, other monks have has engaged man enormously com- 
so^iSdy about the previ- plex effort to use economic and 
ouriv taboo sutteci of sexual urges, diplomatic incentives to _ k«p 
of being bom- North Korea wuhm the treaty. But 
b^SSSfby fJL i»- i. k» Mri te U* Nonh open 

flin-nrM in Thailand's increasingly up to inspections. . 




fluences in Thailand's increasingiy 
marraifllis tic sodety. 

“If we lower our eyes, *e cannot 
see the duttered way, a 

monk said. “If we look up. there it 

is — the advertisement for wom- 
en’s underpants.’* 


nutiurtvivte — - u 

it has insisted that the North open 
up to inspections. 

Until a little more than a week 
ago, when the Neath refused to 
allow inspedois to take radioactive 

3 1es from critical parts of the 
ty, it appeared that the effort 
was making significant progress. 






TWO GIANTS. 



A.' ' ,. ■.is/./.. 


J 




. *r ~- 1 * 



/A - 

■ 




.f /j 


These days the Welsh Dragon is a real high flyer since two 
international giants of the aero engineering industry chose Wales. 

British Airways has its new engineering base at Cardiff 
Airport and recently General Electric (USA) has moved to nearby 
Nantgarw, where they service aircraft engines for famous names 
like CFMI, Rolls Royce and Pratt &. Whitney. 

With more than a little help from the Welsh Development 
Agency, both companies were not merely able to find the right site, 


but also the right people from Wales’ skilled and flexible workforce. 

The WDA has also assisted in the development of a local 
supplier infrastructure to ensure vital components are always at hand 
1b get your business off the ground, put the Welsh Advantage 
to your advantage Call 'the team at Welsh Development Inter- 
national on +44 222 666862, or write to Welsh Development 
International, Welsh Development Agency, Pearl House, Greyfriars 
Road. Cardiff CF1 3XX. 


ONE 



THE WELSH ADVANTAGE. 


■* ••• • --v.-.' - 0 ; v V,:.';. 


o&9.g 9:s*a‘ K X ns 





r 


Page 6 


TUESDAY, MARCH 22, 1994 

©PINION 


Reralb 


INTERNATIONAL 



PUBLISHED WITH TBS NEW YDfUC TIMES AND THE WASHINGTON POST 


Sribunc In It Together for South Africa 

i WR WASHINGTON POST A-' V V 


P RETORIA — There has never 

been any thing exactly like it: an 
advanced industrial country trans- 




f; ' 

i • r- 
t> 


Toward Nuclear Security ££ 

* Iran rule by an elite racial minority 


Amid all the talk about renewed rivalry, 
Russia last week took two welcome steps 
toward nuclear cooperation with the United 
States. It shut down the three nuclear reactors 
that were stiD producing plutonium for nucle- 
ar arms. And it agreed to mutual monitoring 
of nuclear storage sites where both countries 
will store plutonium extracted bom disman- 
tled warheads. These moves win help reduce 
and secure the volume of fissionable material 
in circulation — thereby Huntin g the chance 
thm other countries with nuclear ambitions 
can get their bands on that material. 

The next useful step is for the two nations 
to speed deactivation of nuclear forces sched- 
uled to be dismantled under two strategic 
arms treaties. 

It mak es sense for Moscow to shut down its 
plutonium-producing reactors; Russia has 
more weapems-grade nuclear material than it 
needs or can safely keep track of. 

Russia thus joins the United Stales, China. 
Britain and Fiance in halting production of 
weapons-grade plutonium and uranium. A 
global ban is possible if Pakistan, India and 
Israel follow. 

Mutual monitoring erf nuclear storage sites 
also sets a useful precedent The United States 
and Russia have long accepted procedures for 
observing each other’s missile and bomber de- 
ployments and tests. But never have they al- 


lowed mutual monitoring of storage sites^ hd^p- 
ing to secure nuclear material against theft 
They now need to agree on proposals to 
monitor the dismantling of warheads and to 
measure the nyueruii extracted. Under new 
procedures devised by the Pentagon, disman- 
tling could take place without revealing war- 
head designs. The plutonium cores would be 
put in special containers that would permit 
the amount of plutonium to be measured 
without examining the cores. 

There are other ways in which the two 
countries could extend die spirit of coopera- 
tion. Moscow and Washington have begun to 
retarget thrir missfles so they are not aimed at 
o a ch other, in effect taking them off hair- 
trigger alert That step, however, is too easy to 
reverse. To further reduce the risk of nuclear 
accident, they could deactivate aO missiles 
for dismantling — removing the 
warheads and staring them separately. 

Thai is already being done for missiles 
covered by tire first Strategic Anns Reduction 
Treaty but not for those under START-2. 

While they are at it Washington and Mos- 
cow could do more to broaden military coop- 
eration beyond nuclear matters. This sum- 
mer's joint peacekeeping exercises in 
Russia’s Volga military district, another 
first, provide a useful start 

— THE HEW YORK TIMES. 


Backward in East Europe 


Two months before national elections, Hun- 
gary's rigfaKrf -center government has sacked 
200 radio and television journalists, allegedly 
for budgetary reasons. It is no accident, to use a 
locution often heard in Communist times, that 
those dismissed included Hungary’s most pop- 
ular and independent broadcasters. 

Though the post-Marxist regime pretends to 
denounce the old autocratic ways, its moves 
against the press are indistinguishable in princi- 
ple from thos e iimW fnrmnimiian Heading the 
list of those dismisse d are the presidents of 
Hungarian Television and Hungarian Radio, 
who were appointed in 1990 with the agree- 
ment of aQ major parties to put the state-owned 
system under an autonomous corporation, 
along the lines of Britain's BBC 

New guidelines were instituted to assure in- 
dependence, vastly annoying the government, 
which assumed it would get the same favored 
treatment as its Communist predecessor. In 
the words of an ultranatioualist government 
official, Istvan Csuika; “If these media are the 
most important power factor, it is justified for 
the winners of the Gist free election to gain 
possession of them." That is the common as- 
sumption of all leaders who wish to permanent- 
ly wield the whip of power. 

The Hungarian government was deeply an- 
noyed by live coverage of a Budapest taxi 
strike, and hy the rrfusal to give a sitting prime 


minis ter exclusive air time before municipal 
elections. So budgets for broadcasters were 
savagely slashed, and then Mr. Csuika trum- 
peted the charge that many offending journal- 
ists woe “not Hungarian,” a code phrase for 
Jews in a country where fasdan flourished 
between the world ware. 

This was finally followed by mass dismiss- 
als. With variations in detail, similar assaults 
on independent journalism, especially 
broadcast journalism, are now commonplace 
in former C ommunis t countries. 

Hundreds of broadcasters were sacked in 
Belgrade after ejections in early 1993. In Slova- 
kia, former Communists and their nationalist 
allies cut budgets and forced the resignation of 
independent broadcast journalists, whose of- 
fense, as the minis ter of culture pats it, was to 
give “too much space to the opposition." 

Fortunately, these attempts to stifle debate 
and limit accountability are the focus for im- 
passioned arguments in new democracies. 

About 30,000 people joined demonstrations 
last week in Budapest to protest the purge rf 
broadcasters. A newspaper poll shows that 
most Hungarians believe the dismissals were 
inspired by politics and not the result of bdt- 
ti gh tening Concern is justified. When journal- 
ists are fired, starved and forced into exfle, it is 
the first big backward step to tyranny. 

— THE NEW YORK TIMES 


Let Aristide Strike a Deal 


Conditions in Haiti are deariy growing 
worse Soldiers have now undertaken another 
wave of terror intended to stamp out support 
for the exiled president, Jean-Bertrand Aris- 
tide. Dozens of mutilated bodies have been 
found in the streets in recent weeks. Mean- 
while, other countries, in an effort to force the 
sddiere out of power, have been applying eco- 
nomic sanctions that so far have most hurt the 
people they are intended to help: Haiti’s poor 
and disenfranchised. Food prices are soaring, 
the country’s rudimentary transportation sys- 
tem has collapsed, and there are widespread 
reports of malnutrition and even starvation. 

Some of Haiti’s friends in the United States 
want to respond to the latest murders with 
broader and tighter sanction*. But if sanctions 
work, they wffl work only slowly, at an unac- 
ceptable cost to the health and lives of inno- 
cent Haitians, particularly children. 

Another idea is to send in troops from the 
United Stares or other foreign countries to 
restore Mr. Aristide, as the country’s elected 
president, to his office But if foreign troops 
brought Mr. Aristide home, they would have 
to remain for a long time to prevent the 
military rebels from throwing him out again. 
It is hard to think that a long foreign occupa- 
tion would be good for democracy in Haiti. 


If neither harsher sanctions nor an invasion 
seems promising, what mig ht work? The U.S. 
administration says the political ali gnmen t in- 
side Haiti may be shifting. Appalled by the 
bloodshed and the deterioration of the econo- 
my, Haitians who are no supports* of Mr. 
Aristide are said to be ready to enter into an 
alliance with him and isolate the nrihtary com- 
manders responsible for the mayhem. 

It is far from certain that this strategy would 
work. But it may never even be tried. Mr. 
Aristide is mistrustful of this kind of compro- 
mise with his adversaries and suspects it is 
intended to reduce him to the status of a 
fi gurehead. He points out that a similar deal 
collapsed last year, when the military com- 
mandos refused to dear out on schedule. Since 
the United States and the United Nations 
organized that deal, he argues, h is up to them 
to think of another way to return him to Haiti. 

That logic, unfortunately, does not lead 
anywhere. He is the president of the country, 
and if he does not begin to construct the kind 
of compromises that can create a coalition 
capable of government, no one else can do it 
for him. Amid great suffering, Haiti is waiting 
for a new political initiative. It can come best 
from its elected president. 

— THE WASHINGTON POST. 


Other Comment 


Tap the r Apartheid Dividend’ 

Another event that took place in Bophuib- 
aiswana a few days after the tattle with white 
extremists went largely ignored by the madia 
but also has important implications. Nelson 
Mandela went to Mmabalho, the homeland's 
capital, and received a hero’s welcome. Among 
those cheering were the numerous rivil servants 
of the former homeland who could support Mr. 
Mandela because they had been assured they 
would keep their positions and their pensions. 

To make a dent in inequalities in homing, 
medicine, education and infrastructure inherit- 
ed from white rale, the new government should 
fire thousands of these civil servants. Eliminat- 
ing the duplication would be a critical part of 
the “apartheid dividend" needed to address the 


social backlog. But the ANC agreed to protect 
civil-servant jobs and pensions as part of the 
price of haring to negotiate for power. 

Having to keep on so many agents of the old 
regime win be an enormous financial burden at 
precisely the time when every last rand will be 
needed to address social problems. Indeed, (he 
irony that the Africans and whites who worked 
for and supported President Lucas Mangope 
until the end will be among the most prosper- 
ous in Mmabalho for a long time to crane, 
while those who helped overthrow him will 
remain poor, win be a permanent source of 
anxiety for the new government 

— 1 Jeffrey Herbst, an assistant professor 
of polities and international affairs at 
Princeton’s Woodrow Wilson School, 
writing in the Los Angeles Times. 



International Herald Tribune 

ESTABLISHED 1887 

KATHARINE GRAHAM. ARTHUR OCHS SULZBERGER 
Co-Chairmen 

RICHARD McCLEAN, Publisher &. Chief Executive 
JOHN VINOCUR. Executive Editor & VkePntidm 
•WALTER WELLS. Afrwififcr • SAMUEL ABT. KATHERINE KNORR and 
CHARLES MTTCHELMORE. Deputy Editors • CARL GEWIRTZ. Avwaaar Editor 
•ROBEkTJ. DONAHUE Editor cf the Editorial Pages* JONATHAN GAGE, Business and Finance Editor 
• REN£ BONDY, Deputy Publisher* JAMES McLEOD, Advertising Director 
•SUAMT\LCASPAJSI,bOemi^onat[MvieloptnmiDmaare ROBERT FARR^CSrc^aimDfncKv.Estfw 
Dirraairde la PubGoatkm : Kkhoid D. Samwns 

Irflenonoral Herald Tnbure, 181 Avenue Oiarlcs-de-GauBc. 92521 NaiUy-sur-Sdnc, Franx. IQ59B 

TeL : < 1 >4&3753ti0. Pax : C5re,4637.06Jl; Adv„ 463752. 12. Induce MT«eun*anje 
EdaorfrrAsta: Midud Rkfunkun 5 Gtnfofary Rd. StngqxnrOStLTd (651 472-7788. Far (65< 274-2334 iHKi 
hbg.Or.Asia. RoffD. KimepuhL 50 Gloucester Rd . Hoag Kong TeL 852-9222- 1 188. Fas 852-9222-1 190. gs™S 
Mn S - Dir. U.K- Pun Diacre. 65 Long Acre. London WC2. TeL <0711 836-4801 Fas : (071) 240-2254 
Gen. Wgr. Gemary: W Lauurbah, Friedrifar. 15. (0323 Fra&nM. TeL mi 726755. Far mi 7173 10 ! ©ffi 
PasUS: Michael Ctmor. 850 Kid Aw. New font NY. 10021 TeL (212) 752-3800 Fac (212) 755M5 4-5J i 
SA au capital Je 1. 200.000 F. RCS Nantene B 732021126. Commission Pariudre No. 61337 
6 199f.lnurjKSdand Herald Triute. AS rigkaresavaL ISSN: 0294-8Q51 


That is the extraordinary process 
now taking place in South Africa, 
pointing to an election April 27-28 
m which the black majority will be 
able to vote for the first time. 

The process produces daily won- 


Mandda and de Klerk 
are political opponents, 
but both are intent on 
getting to the election 
next month, and they 
will not let differences 
over the past or the 
present distract them. 


ders and ironies, none more sym- 
bolic than the scene in a lofty round 
chamber of the main government 
building here the other evening. 

Judge Richard Golds tone, chair- 
man of a commission investigating 
the sources of South Africa’s politi- 
cal violence, unveiled an emergency 
report. In measured lawyer’s lan- 
guage it alleged a conspiracy by 
high police officials “aimed at the 
destabilization of South Africa.” 


By Anthony Lewis 

The report said that the deputy 
commissioner of the South African 
police and other career officers se- 
cretly supplied a large volume of 
weapons — AK-47s, mortars, gre- 
nades — to the infcaiha Freedom 
Party, which is boycotting the elec- 
tion. It said they trained killers and 
ordered murders, including the 
slaughter of commuters on trains. 

President Frederik de Klerk, sit- 
ting next to Judge Goldstone. said 
that he had put the officers men- 
tioned on immediate leave while a 
new international prosecutorial 
team looked into the matter fur- 
ther. A reporter asked whether 
they would be arrested. 

“We cannot just arrest a person 
because his name is mentioned,” 
Mr. de Klerk said. “We have a civi- 
lized legal system.” 

A civilized legal system: in a 
country where 95,000 people have 
been detained without trial since 
1963, when Mr. de Klerk's Nation- 
al Party introduced the idea of 
such detentions. Most were de- 
tained without any evidence of 
crime, for political reasons. A large 
□umber were held in solitary con- 
finement for months or years. 
Some, like Steve Biko, were killed. 

Mr. de Klerk’s answer might, 
then, have dialed cries of outrage. 
But Nd son Mandela, leader of the 
African National Congress, made 
no complaint about the president's 
handling of the Goldstone report. 


Nor did he say “I told you so,” even 
though be bad long charged dial a 
“third force” led by police officials 
was stirring up violence. 

Mr. Mandela and Sir. de Klerk, 
though political opponents, are 
united in one fundamental respect 
in this transitional period. They are 
intent on getting to April 27 and the 
election, and they will not let re- 
criminations about the past or dis- 
agreements about the present dis- 
tract them from that goal. 

In fact, they are already working 
together on mg questions as if Mr. 
de Klerk were part of a coalition 
under Mr. Mandela — as is likely 
after April 27. Judge Goldstone 
consulted Mr. Mandela as often as 
he did Mr. de Klerk during the 
investigation and preparation of 
his latest report 

The most dramatic evidence erf 
partnership was the decision to inter- 
vene in mythically independent Bo- 
phuthaxswana when violence erupt- 
ed there March 10 and II, and to 
install officials to nm it instead of 
President Lucas Mangope. That de- 
cision was taken by the Transitional 
Executive Council set up to oversee 
the government until the election. 

Many expected the council to be 
a facade. In fact it is functioning. 
One reason is that it mdades the 
two men who successfully negotiat- 
ed the new constitution, Cynl Ra- 
maphosa of the ANC and Rodf 
Meyer of the National Party, who 
became friends in the process. 

In a sense, perhaps, that strange 
scene Mien Judge Goldstone pub- 




>/ 




lished his report reflected the new 
South Africa stru gglin g to emerge 
from the old. For the hope is that 
from here on South Africa will 
have a civilized legal system, with a 
new constitutional court enforcing 
a detailed bill of rights and police 
obeying the law. 

And after all. President de 
Klerk’s appointment and support 
of Judge Goldstone represent a 
commitment to that kind of future. 


By GRAFT* la tafjbtadci iChlot CftW Syntott 

But first the country has to ge 
ist April 27. And there the oil 


past April 27. And there the Big 
hurdle is the man whose inkatha 
Party got all those weapons from the 
alleged police conspirators: Chief 
Mangosuthu Butheferi of KwaZulu. 

Chief Buthdezi is doing his best 
to sabotage the election ana prevent 
its taking place The reason is sim- 
ple: If he takes part in an election, 
he knows be will do badly. 

The New York Times. 


Asia: Economic Growth and a U.S. Role Don’t Guarantee Peace 


C ANBERRA — Asia is in vogue these days, 
with pundits East and West proclaiming 
the dawn of a peaceful Pacific century. Secre- 
tary of State Warren Christopher says there has 
not been a better time for peace in the region in 
this century. 

Such optimism is based on two assumptions. 
First, that Asia's rapid economic growth and 
increasing economic interdependence will re- 
duce the reasons for, and raise the costs of, 
aimed conflict. Second, that America mil con- 
tinue to play a key security role in the region, 
thus maintaining the current balance of power. 

But Aria is a region where there are stiD 
serious ideological, territorial and religious dis- 
putes, historical antipathies and the clash of 
cultures. It also is the world’s fastest growing 
arms market- Defense spending in the region, 
which is set to outstrip that of Western Europe 
by the year 2000, exceeds $100 billion a year. 

Growing concerns ova Pyongyang's nuclear 
ambitions are just one sign of the spread of 
nudear weapons and ballistic missile technol- 
ogy evident in China, India and Pakistan, as 
wdl as in North Korea. There are dear signs 
that several Asian countries are covertly devel- 
oping chemical and biological weapons or the 
capacity to make them. Advanced conventional 
weapons are increasingly being introduced 
throughout the region. 

As the constraints imposed by the Cold War 
are released and new tensions emerge, a period 
of change and uncertainty is likely in Aria. And 
as countries enlarge their military stockpiles. 


By Paul Dibb 

collective security arrangements are in flux. 

Klaieral alliances created in tire Cold War are 
changing. There is new interest in multilatera- 
lism. The military buildup is oocuning just Mien 
alliances are becoming Iras predictable There is 
potential for great change in the regional balance 
of power as the strategic roles of the United 
States, China, Japan and India evolve. 

In these uncertain c i rc ums tances, the inter- 
ests of the middle powers in the region — 
including Australia and members of the Associ- 
ation of South East Asian Nations — are likely 
to be best served by the preservation of an 
equilibrium between the large powers. The 
smaller players would fed threatened if any 
angle country appeared set to d ominate the 
region. Their own security and freedom of ma- 
neuver is best guaranteed by a system in which 
the large powers balance mi* cither. 

For most countries in Aria, the United States 
is the key to main tainin g a favorable balance at 
power. It is important to continue to engage 
U.S. military interest in the Asia-Pacific region. 
But there is a general view that, following the 
collapse of the Soviet Union, U.S. security 
interests in Asia have lessened. Thus the middle 
powers must do more for their own defense. 

America win continue to have important stra- . 
tegc interests in Asia but they wEQ be focused on 
North Asia — on the Korean Peninsula, China, 
Japan and Taiwan. Even so, there are doubts 


about the strength of America's commitment 
to this part of the world in the longer term. 

China is an ambitious power and its strategic 
influence wQl grow over the next decade as its 

tynnnmi c stren gth gives it the means tn become 

a more powerful actor in the Asian security 
equation. Beijing is the one power with the 
potential to contend with the United States for 
regional leadership m the 21st century. Already 
it has the ability to project military forces 
superior to those that Southeast Asian nations 
could deploy to the South Chm« Sea, where 
there are senous territorial disputes. 

Economic rationalists argue that China wfll 
never actually use its mOrtaiy forces abroad 
because it has too much to lose oven its increas- 
ing dependence on world trade. But when its 
senior-leader, Deng Xiaoping, (ties, China will 
undergo a major political transition transition 
that could produce instability ax home and 
more aggressive policies abroad. 

The other Asian great powers, Japan and 
India, do not give cause for such cancan. Mili- 
tarily, they are hkdy to remain essentially region- 
al powers. And RussiajHeoccupied by serious 
domestic problems, wfll have few interests in 
Asia for some yens. 

Rapid economic growth in Asia will cause 
chang es in political power. If the region can 
continue for the next 20 years to outgrow the 
rest of the world, as it has done for the past 20 
years, it will account for more output than 
North America and the European Union com- 
bined. By early next century, the Chinese econ- 


omy may be largo- than that of the United 
States. Such developments eventually would 
produce a new correlation of power in Asia and 
substantially different military possibilities. 

As Aria becomes a tougher economic com- 
petitor, rivalry and a desire for advantage over 
others mil grow apace. Amid such strategic 
uncertainties, it is far from dear that Asia will 
evolve peacefully. Strang historical enmities 
and rising economic power could well produce 
a dangerous level of tension. 

Ima ginati ve policies are required that focus 
rax the need for multilateral cooperation and 
military dialogue between the countries of the 
region, as well as greater economic exchanges. 

The creation of APEC, the Asia-Pacific Eco- 
nomic Cooperation forum, and of the ASEAN 
regional security forum, are sensible steps. 

To the extent that understanding ana con- 
structive contact between military forces in 

the region can be developed, the chances of 
miscalculation, surprise attack or any un- 
leashing of nationalist forces will be reduced. 

But it would be unwise, for now, to take the 
currently favorable economic and political 
trends in Asia for granted. 

The writer, head of the Strategic and Defense 
Studies Center at the Australian National Uni - — 

versify in Canberra, is a former senior official 
of the Australian Defense Department and di ■ 
rector of the Defense Intelligence Organization. H 1 

He contributed this comment to the Internation- 
al Herald Tribune. 


A Difficult Inquiry Into Lithuania’s Holocaust Bears Grisly Fruit 


L ONDON — Amid aU the atteri- 
/ tion being paid to Steven Spiel- 
berg's Holocaust film, “Schindler's 
List,” another list, drawn up by the 
Nazi butcher Karl Jaeger, has 
emerged from a recently discovered 
German file in Moscow. 

There I found the Jaeger list 
among closely typed documents, 
some stamped" with the Nazi eagle 
and swastika, in the so-called Special 
Archive. Kail Jaeger was the man 
principally responsible for the exter- 
mination of 9o percent of Lithuania's 
Jews, the highest proportion feu any 
country. The yellow Moscow bttild- 

but those of more semo^I^azis^uch 
as General Ronhard Heydrich, bead 
of Reich security, which were carried 
away by the sackful from Gestapo 
headquarters in Berlin in 1945. 

The Nazis were punctilious about 
recording genocide — the list breaks 
down the death roll by execution site 
and by the victims' sex and place of 
origin. One entry mentions “two 
American Jews killed at Kauen.” The 
date was seven days before Pearl 
Harbor and 10 days before war was 
declared, a time when these anony- 
mous Jews were at real risk. 

What were they doing that late fall 
of 1941 in Kauen (today Kaunas)? 
“They were doubtless relatives 


By John F. Crossland 


who had emigrated,” said Efraim 
Zuroff of the Simon Wiesenthal Cen- 
ter in Jerusalem in a telephone inter- 
view. ‘They were caught up while on 
a rare visit in the German invaders’ 
net” In fact, a third of all Lithua- 
nians ore estimated to have settled 
overseas before World War L most of 
them in the United States, and a 
quarter of the emigrants were Jews. 

The subject of Lith uania distressed 
Mr. Zuroff. “Our investigations are 
not going wdL” he said. “Ever since 
Lithuania became independent, alti- 
tudes on the ground there to finding 
the people who were involved in these 
crimes has left a lot to be desired.” 

The center, which has its interna- 
tional headquarters in Vienna, has 
helped bring many prominent Nazis 
to justice. But it suffered a double 
setback over the New Year. First the 
new Lith uanian government turned 
down its request to open an office 
there so that evidence could be gath- 
ered in situ, with the help of the 
Lithuanian legal authorities. 

A government spokesman ex- 
plained the refusal this way: “This 
Jewish organization applied to investi- 
gate when it is for Lithuanians to 
decide on courses of action. Our law- 
yers don’t know all the facts and there 


will be no action taken at ^present” 

Mr. Zuroff said, “The Lithuanian 
government is afraid of the informa- 
tion winch wfll be made public if we 
are allowed to do research and find 
witnesses. The nationalist opposition 
has incredible difficulty acknowledg- 
ing the role played by Lithuanian 
collaborators in the mass murder 
of Lithuanian Jewry.” 

The second blow was the recent 
decision of Scottish legal authorities 
to drop investigations into the war- 
time rote of one of those collabora- 
tors, Antanas Gecas, a retired mining 
engineer living in Edinburgh. Mr. 
Zuroff contends that there is enough 
evidence to prosecute Mr. Gecas, 
who lost a libel case against Scottish 
Television u 1987 over a program on 
the activities of Lithuanian police 
units under the Germans. 

The Gennans filmed some of the 


Somalia: lessons of a Rescue 

W ASHINGTON — As the last U.S. military forces leave Somalia. 16 
months after Operation Restore Hope was bunched by President 
George Bush, what conclusions can be drawn? 

One must start by recalling the fall of 1992, when Somalia was a 
devastated country, with more than 300,000 people dead There were no 
prospects for an aid to this terrible paroxysm. Yet within six weeks after 
the first U.S. Marines landed on Dec. 9. 1992, clan warfare had practical- 
ly ceased and mass famine and disease had been brought under control 
U.S. and other mflitaiy forces came with overwhelming power and an 
evident will to use it If need be. But there was an equally evident desire to 
rave lives and restore peace, not to treat any Somalis as enemies or take over 
their country. There was continuous dialogue with Somali leaders of all 
kinds, and a broadening of political power was encouraged. 

Perhaps overly emboldened by the surface appearance of stability, or 
too eager to test new theories of rebuilding failed states, the United 
Nations and the United States decided to greatly expand international 
action in Somalia. This included civil administration. Plunging so deeply 
into Somalia’s internal affairs inevitably brought the- peacekeepers into 
political confrontation and then military conflict 
President Bill Clinton resisted powerful congressional press u re to pull 
out at once. He succeeded in getting a five-month period to pursue a 
corrected policy course. Had the United States pulled out right away, it 
would certainly have meant the end of all hope for Somalia. 

The new course focused upon political rather than military methods, 
cooperation with all factions in encouraging them to determine their future 
and preparation for a UN military and civilian operation after March 31. 

On the negative ride, political rivalries continue to block agreement on 
a governmental structure and inhibit cooperation on establishing the 
ponce force and combating banditry. The hugely spontaneous but 
increasing violence poses a threat to international assistance. 

But Somalia has been an invaluable lessen for the United States and (he 
UN in what is likely to work and unlikely to work in the complex politico- 
humanitarian emergencies that have become all too common. 

— Robert B. Oakley, former ambassador to Somalia and later U.S. 
special envoy to that country, writing in The Washington Post. 


pare, foflowing Operation Barbaros- 
sa, the Nazi invasion of the Soviet 
Union. We are famffiar with the im- 
ages of the victims, caught wide-eyed 
with terror, seconds before the fatal 
volley from their captors. But here, 
available to the public for the first 
time, is the chillingly i m personal re- 
port of a mass murderer of the earli- 
est phase of the Holocaust. 

The report is that of Standarten- 
fuhrcr Jaeger, commander of Ein- 
satzgruppe 3 and regional head of the 
Sicberbeitsdienst, or Special Security 
Force. He avoided arrest at the end of 
the war and worked as a farm laborer 
near Heidelberg until discovered in 
1959. He hanged himself in his prison 
cell while awaiting trial. 

Karl Jaeger wrote to his superiors in 
Balm from Kauen, Dec. 1, 1941: T 
am in a position to give you evidence 
that the Jewish problem has almost 
been solved here. Today there are al- 
most no Jews left in Lithuania, except 
the Jews who are working for us." 

He puts this number at 34,500 and 
adds: “I was about to kill these peo- 
ple too but the dvD authorities were 
against it. The Retchskonumssar [Al- 
fred Rosenberg] issued an order not 
to shoot them.” 

Such special operations are pri- 
marily a question of organization, he 
says. “The Jews must be driven to 
one, or to several sites, depending 
cm the numbers, and the distance 
between the assembly point and the 
grave should be more than 4 or 5 
kilometers.” 

He continues: “The Jews should be 
divided into subgroups, 500 in each, 
and the distance between the groups 
should be at least 2 kilometers. What 
hard and nervewracking work this is 
for us I wiD illustrate with tins exam- 
ple. In a small place called Rokidds, 
3,000 men woe moved 4j kilometers 
to the execution place. To do tins job 
we used 80 collaborators. Sixty woe 
used to drive (he trucks and as guards; 


the other 20, together with my men, 
(fid the shooting itself. We lacked 
transport and there wore numerous 
attempted escapes, which were 
slopped by men at the risk of their 
fives. One team at Mariancpol shot 38 
Jews and Communists who were try- 
ing to escape into the woods." 

Standarienfflhrer Jaeger proudly 
announced that 143 Jewish children 


Recently discovered 
documents describe 
the extermination of 
96 percent of Lithuania's 
Jews, the highest figure 
of any country. 

had been murdered in Kaunas and 
59 9 tn nearby Keriaininc. He praised 
his “rank and file, who had worked 
very hard." He concluded: “The Jews 
who have been kept alive for work 
should be lolled after tire winter. I 
also believe that after sterilization of 
the male Jews an end wi2i be put to 
them, and if any Jewish woman gets 
pregnant she should be lolled.” 

Since the start of Baxbarossa, the 
total number of Jews tailed in Lithua- 
nia alone was 137,346. 

Kari Jaeger’s enthusiasm brought 
him the displeasure of the bead of 
the Gestapo, Heinrich Mailer, who 
in a dispatch of May 18, 1942, said: 
“According to the OKH [the Ger- 
man high command] in Minsk, 630 
Jewish craftsmen were given special 
protection because of their exper- 


tise. Despite their qualifications 
they were later lulled. 1 a future 1 am 
asking you to take into consider- 
ation the opinions of the Reichs- 
fflhrer SS Himmler and police chiefs 
not to kill Jews in the age bracket 16 
to 32, who are capable of doing 
work. These Jews must be senteitber 
to concentration or labor camps.” 

In the same captured files I discov- 
ered evidence that RdchsmarshaQ 
Hermann Goring, far from “never 
having decreed the murder of a angk 
individual” as he claimed at Nurcm- 
burg, was a prime mover in the earli- 
est stage of the Holocaust, a year 
before the plan for the diminatinn of 
Europe^ Jews was drawn up ai the 
Wannsee conference. 

The darker ride of this top Nazi is 
revealed in a 12-point memorandum, 
drafted by General Heydrich on 
March 26, 1941, after a meeting with 
Rachsmarabal Gtiring to discuss the 
exploitation of conquered Soviet ter- 
ritory after Barbarossa. Above bis 
signature. General Heydrich wrote 
this: “The Reichsmaishal said that 
the troops should be warned about 
the danger of the OGPU, the political 
commissars, the Jews and so on. The 
. soldiers should know who to put up 
against (he wall and shoot!” 

The whole truth about wbat hap- 
pened in Europe must be revealed. 
Thus the interest in being given ac- 
cess to witnesses of the Lithuanian 
Holocaust — one of the last unre- 
solved and unpunished chapters of a 
story of which the world is once more 
being reminded. 

The writer is a British journalist and 
archivist. He contributed this comment 
to The Washington Post. 


’ - . 


IN OUR PAGES; 100, 75 AND 50 YEARS AGO 


1894: Corean Conspiracy 

NEW YORK — According to mail 
advices received in San Francisco 
from Corea, a plot has been discov- 
ered to blow up the King and his 
Ministers, and to overthrow the gov- 
ernment. Twenty-seven conspirators 
have been arrested and will be be- 
headed in order, it is said, to prevent 
them making revelations regarding 
some high State dignitaries who are 
involved in the plot. 

1919: Tension in Siberia 

WASHINGTON D.G — Washing- 
ton officials are much disturbed over 
continued reports of anti-American 
agitation in Siberia, much of which is 


a tion is recognized as having an ele- 
ment of danger to the friendly rela- 
tions between the United Slates and 
Japan. There is no hint of actual 
disagreement between the two Gov- 
ernments, but representatives of the 
old war party, which was displaced 


by the present Japanese Administra- 
tion and who are now active in Sibe- 
ria, have brought about a certain de- 
gree of tension. So far than has been 
no official cognizance of these al- 
leged anti-American activities but 
conditions are such that serious com- 
plications may arise at any rime. 

1944: Patton Replaced 
ALLIED HEADQUARTERS, Na- 
ples — [From our New York edition:] 
Major General Alexander M. Patch 
Jr., hero of Guadalcanal, today 
(March 21] was named commander 
tf* e United States 7th Army, for- 
oieny commanded by Lieutenant 
General George S. Patton Jr„ who 
was rebuked by General Dwight D. 
Eisenhower for cuffing a shell- 
sbocked soldier in a Sicilian hospital 
last summer. Patton’s new assign- 
picnt was not announced, and there 
has been little news of the activities of 
the colorful tank warfare expert 
suice the affair of the ill soldier was 
made public last November. 




■’vwJsfo' • 




•iSoi o* 






Say It .Ain’t So, Chairman, 
And Let Whitewater Flow 


By William Safin* 

W EgJ ” members came urgent — 1 called my frequent 
■ . F“ . C 5j ca S° w hte Sox source and asked: Henry, where are you? 

SH 'SJS for conspir- “As soon as I ^»ne legislative 
to ^ row * c 1919 purpose to hearings.** he promised. “1*11 

{*“•. **“* in his hold them." Pressed about the oversight 
10 r b oeless Joe Jackson and responsibililv of his banking committee, 

P n£?ri,.S,‘ t "i* s0 : Jl *" Mf- Gonzaln pointedly nowd ihafstv- 

1 ieei trial way about the House kink- eral crack Kinffcr®** trnrr, it,* CmiiMinn 


Ba: f:r - 


pas: Apn. 1' 

•' -■‘ir. r, . 

hcrdlc :• ^ 
Party ^ '■ 
uilevee r>. • 
\fenao-ui-. 

• lff> i fr- 

■ ■ -■■ ■ ■ fv. 

CScf 

" ■ V P* j 1 

. . , 

tosjbjijjs:-.. - 

- '■ : v >; >. 

1 touLn/p^V 

pic !: hr 
he kr.ctc.-. . 

r 

"• f/ - '’’Mj.r 

7>, \ c _ 



rantee Peace , 


tna\ be ■■ 
i. SuJ; Jr-.V 

1ST it Ti iT" J 

anna'.!*. zr/.e-. r 
Asli pc«. ~ 

•r. n-.2>. .. 

s tt'j; i: v„ jr _ 

Uunt:e=. .: 

e • >-■ 

*aw“5 (w:::: 7 

e-f ■ 

7 . 

« rcac 
try li’j-.-c-. - 

1. il> 

flSV ;■ L- 

. . . . 

»!.•»..?....■■ 

ta: **. 

the CV.r: • • i 

*®f - 

t 'I 'iC-. 
fltiv '.j,- : 

- - • 


•*; :k U 




1 " ‘.i -- 


y 


>r 


^Nossadajf, 


.LAV FIRM 




i f 1 V ■* Joe, 

I f«»l that way about the House bank- 
ing committee chairman, Henry Gonza- 
lez, a Democrat of Texas. He was mv 
hero For years, while Beltway elitists 
joined bankers 1 lobbyists to sc6ff at his 
ponderous style, 1 admired his courage 
m taking on the titans of the executive 
branch and the regulatoiy agencies 

Long before the Banca Nazionale del 
Lavoro affair blossomed into the Iraq* 
gate scandal, it was Mr. Gonzalez who 
saw through the flimflam of the 
attorney in Atlanta. Chairman Gonza- 
lez, droning on late at night to an empty 
House chamber, put into the Congres- 
sional Record evidence of the Justice 
Department's connivance in silencing 
inquiry imo President George Bush's 
misbegotten financing of President Sad- 
dam Hussein of Iraq. 

That was during a Republican admin- 
istration. Surely. I thought, when the mo- 
ment came for investigation imo the sav- 
ings and loan debacle and abuse of 
federal power in discouraging and “moni- 
toring" of criminal referrals of bank regu- 
latory agencies. Chairman Gonzalez 
would see his nonpartisan duty and lead 
the way in Whitewater, no matter what 
the pressure from Democratic satraps. 

Last month, as evidence mounted of 
While House and Treasury meddling in a 
banking prosecution — and as the need 
for the banking committee's oversight be- 


Russia’s Helping Hand 

Regarding “A Modest. Fragile, Partial 
Success, but Still a Success" (Opinion. 
March 15) by William Pfaff: 

To call President Bill Clinton's latest 
initiative in the Balkans “a significant 
foreign policy success" is being exces- 
sively generous. To deplore the Europe- 
ans' failure to conduct an effective for- 
eign policy in the Balkans as a political 
“inability” is being lavishly forgiving. 

All of this does not mean that one 


eral crack staffers** from the Republican 
minority were hard at work and he 
would study their findings. I wrote reas- 
sured: Henry might not be in the fore- 
front, but would do the right thing 

What a foolishly idealistic pundit am 
1. That was before staffers working for 
Representative Jim Leach, the soft-spo- 
ken Iowan who is the banking commit- 
tee's ranking Republican, began hitting 
pay dirt about the costly manipulation 
of Madison Guaranty Savings & Loan 
by the Clintons’ lawyers and partners. 

At that point Henry the Unstoppable 
was transformed into’ Henry the Stop- 
per. Nothing is subtle about the Gonza- 
lez stonewalling: Never in the history of 
the U.S. Congress has there been such a 
blatant effort by a committee chairman 
to protect the White House by stran- 
gling a needed investigation in its crib. 

Hearings? Henry won’t bear of them. 
Although he cannot block the lawfully 
mandmed semiannual oversight hearing 
of the Resolution Trust Corp., he insists 
that all the witnesses be jammed imo a 
s i n gle day on Thursday of this week. 
When Mr. Leach offered to postpone this 
hearing a few weeks to accommodate the 
nonindependent counsel's desire for first 
bile at the testimony apple. Henry said 
nothing doing: one day new or never. 

Worse, by notifying administration 
witnesses called by Mr. Leach that they 


Cheap 

ms 


ASIC A6»UT 

OuR 

(Tramp 

oPEN'MG 

SPECIALS 


-OF COURSE, WE STILL NEED ■ 
SOMEONE in REAL E5TATE*.. 

itadb A WOMAN, 

\2fiW PERHAPS- 



do not have 10 cooperate, he undermines 
the House’s power to check the execu- 
tive branch. This is unprecedented parti- 
sanship, probably against House rules, 
but the Democrat in the speaker's chair, 
Tom Foley, isn't enforcing rules that 
might embarrass Democrats. 

Who is this Leach? He's the last of the 
Rockefefler-Javits Republicans, a pariah 
at national conventions; yet this unrecon- 
structed moderate is shrilly denounced as 
politically motivated by Clinton crony 


All of this does not mean that one 
should belittle what recent progress has 
been made. But history mil condemn 
the West for having bom a bystander 
when the worst violation of human 


Letters intended for publication 
should be addressed "haters to the 
Editor ” and contain the writer's sig- 
nature, name and full address. Let- 
ters should be brief and tee sidyect to 
editing We cannot be re^mnsiUe for 
the return of unsolicited manuscripts. 


LETTERS TO THE EDITOR 


rights and international law since the 
Holocaust was being perpetrated. 

And has it noL been President Boris 
Yelisin's belated intervention in Bosnia 
that brought the Serbs to their senses? 


keen on joining NATO when it’s good 
old Russia that seems to achieve the so- 
called breakthroughs. 

KARL H. PAGAC. 

London. 

Japan and Plutonium 

Regarding “ Taking 2 High-Tech Hits, 
Japanese Bow to Reality ” (Feb. 23): 

The Atomic Energy Commission of Ja- 
pan is deliberating over the revision of the 
long-term program for development and 
utilization of nuclear energy, taking pub- 
lic opinion into consideration. The pro- 
gram has generally been revised about 
every five years, and the latest one is the 
result of a revision in 1987. 

During the six years since then, there 
have been some delays in the programs 


for the demonstration fast-breeder re- 
actor, the commercial reprocessing 
plant and so forth. These delays are 
pan of any technological development, 
and are a result of our policy of main- 
taining the proper supply and demand 
balance for plutonium, based on the 
principle that Japan should have no 
more plutonium than necessary, that is, 
no surplus. 

David Sanger's assertion that these 
delays are the result of Japanese bowing 
to overseas pressure is inaccurate. 

YASUTAKA MORIGUCHi. 

Science and Technology Agency. 

Tokyo. 


Vietnam War had only one thing on 
their minds: how to avoid the draft. 
Mr. Clinton did what millions of others 
did (including Dan Quayle). 

Second, more than 65 percent of 
American married men (a smaller per- 
centage of women) have had or will have 
at least one extramarital sexual experi- 
ence. Voters did not think Mr. Clinton’s 
private life mattered. 

Third, the Whitewater details seem to 
indicate activities that are pretty com- 
monplace in the U-S. business world. At 
least Mr. Clinton lost money on the deal. 

ERIK H. THORESON. 

Alesund. Norway. 


Media Missing die Point Speaking of Japanese 


I continue to be ama7«ri by how far 
from the mainstream of America the 
news media have strayed. The media 
contended that Americans were con- 
cerned about Bill Clinton's avoidance 
of the draft It never occurred to the 
patriots who control the front page that 
the vast majority of men during the 


Regarding Christopher Lehmann- 
Haupi's review of “ On Familiar Terms: A 
Journey Across Cultures" (Books. March 3): 

1 was shocked to read in this review 
that “after Pearl Harbor, he (the author, 
Donald Keene] learned that be was 
among only 50 Americans who spoke 


David Wilhelm, ihe Democratic National 
Commiiiec's pit chihuahua. 

Henry. listen to your longtime admir- 
ers: You are turning Thursday's hearing 
into a televised trial of the Democratic 
stonewall. Every time Mr. Leach asks a 
searching question, and you rule it out 
of order or not germane, that will infuri- 
ate the watching public. Every wrongful 
rap of your gavel will drive a nail in the 
administration's coffin. 

Repent before its too late. Don't fall 


From 2drFloor Potting Soil 
To Our Half Acre of Eden 

By Linda Angeloff Sapienza 

F ORT WASHINGTON, Pennsylva* us. its brightly colored, bushy leaves on 
nia — Be careful what vou wish for. the side farina the sun. The olant’s 


11 Its Chmnin Seder Mfrattf 

U& flngrt". Tim Seniatc 


for “unless it’s criminal, it remains se- 
cret." Remember Shoeless Joe. acquit- 
ted by a jury, but driven frc>m the play- 
ing field forever by the overseer 
demanded by the fans. 

Do not bnng shame and obloquy on 
the good citizens of San Antonio, and on 
Clinton voters everywhere, by exchang- 
ing your hard-earned reputation as fear- 
less maverick for the shoddy shield of 
partisan hypocrite. Say it ain’t so, Henry. 

The Sew York Junes. 


Japanese." What about the Japanese- 
speaking Japanese- Americans? 

MARLAN CARLSON. 

Siena. Italy. 

Editor's note: The same review appeared 
in The New York Times, which a few days 
later printed a correction stating that the 
review “ included an incomplete paraphrase 
of one recollection by Mr. Keene about the 
aftermath of Pearl Harbor and the number 
of Americans who spoke Japanese then. 
Mr. Keene wrote, ‘Soon after the outbreak 
of war, / heard a ratio broadcast to the 
effect that only 50 Americans knew Japa- 
nese. This was absurd: There were hun- 
dreds of thousands of Japanese -Americans 
who knew Japanese.' " 


Better Than Gridlock 

Regarding “ Wheels in Singapore" 
(Letters, March 15): 

J. Everett Blackworth claims that by 
restricting car ownership, the Singapore 


F nia — Be careful what you wish for. 
You may get the half-acre lot where all 
of vour gardening fantasies are meant to 
come true. How many apanmeni dwell- 
ers have dreamed of' working the same 
magic outdoors that they do in small 
spaces, knowing they possess skills thai 
far surpass the limitations of the win- 
dowsill and balcony? 

What a thrill to decide where to put a 
tree, or what to plant in the vegetable 

MEANWHILE 

patch. Think of the satisfaction in gazing 
on an evolving color palette designed to 
keep flowers in bloom all season. 

Last month my family moved to a rural 
area near Philadelphia, ending 20 years of 
apartment gardening. When covered with 
snow, tire half-acre (0.2 hectare) looked 
like the proverbial blank canvas. But with 
spring here, the melting snow reveals 
challenges, far more daunting than choos- 
ing the best comer for the ficus. Can a 
green thumb earned above the second 
floor succeed with dirt that doesn't come 
from a bag labeled “potting soil"? 

We apartment gardeners begin our 
careers on a small stage. With each new 
lease we seek better light, and in rhe best 
of worlds we get a balcony large enough 
for two kitchen chairs. 

Most of us began with macrame plant 
holders and easy- 10 -grow spider plants. 
Philodendrons provided adequate win- 
dow treatment, the tendrils hanging 
down over empty curtain rods. The sun- 
niest window was reserved for the cole- 


government is “depriving citizens of ba- 
sic rights which many consider inalien- 
able" Can he name any country whose 
constitution guarantees the inalienable 
right to own cars? 

Of Singapore householders, 31 per- 
cent own cars, higher than the propor- 
tion in Hong Kong. High automobile 
taxes in Singapore are compensated for 
by low personal and corporate taxes. 

Overall, Singaporeans pay lower taxes 
than the citizens of most developed 
countries. This policy is imposed not by 
the “elite," but by a democratically 
elected government which must face the 
voters every five years. 

Nobody likes to pay high car taxes. 
But when the alternative is what has 
happened in New York, Los Angeles. 
Bangkok, Taipei and Seoul, high car 
taxes are the least objectionable and the 
most effective alternative to gridlock. 

TOMMY KOH. 

Singapore. 

The writer is a former Singapore 
ambassador to the United States. 


us. its brightly colored, busby leaves on 
the side faring the sun. The plant’s 
“good" side lent elegance to dinner par- 
ties if turned toward the interior a few 
minutes before the guests’ arrival. 

Long after the guacamole is eaten, the 
supermarket avocado seed sits in a water 
glass, held up by toothpicks until it takes 
root. The resulting skinny stalk with its 
three large shiny leaves proves to be the 
most accurate indicator of when to wa- 
ter the houseplants. Its tendency to 
droop at a moment's notice is legend. 

As we become more sophisticated 
about apartment gardening, we come to 
appreciate the absence of pests and 
guard our plants from any outside vege- 
tation. The 99-cem-speri'al houseplants 
outside the grocery store are not to be 
misled. And if an'infesied plant is dis- 
covered next to our carefully tended 
African violets, tossing it away is easier 
than treating its affliction. 

We learn which flowers can grow in- 
doors. and have mild successes with gera- 
niums and impa liens. The balcony is the 
perfect place 10 watch over summer 
blooms: Its small size assures that any 
wilted flowers will be promptiy noticed, 
then pinched off to encourage replace- 
ments. Border plants, like bright red sal- 
via, work well even when the only avail- 
able space is the border between the 
kitchen chairs and the street below. 

This is the knowledge I bring to the 
half-acre. Is it any wonder that Pm plan- 
ning the houseplants first? 

Spider plants and philodendrons j 
grow to immense size in southern Mexi- ' 
co. but we don't often see them in East 
Coast from yards. The outdoor coleus 
can't be turned in the direction of ap- 
proaching dinner guests, and avocado 
plants are quickly dwarfed by fast-grow- 
ing weeds. The pinching-off process 
goes a lot slower when more than six 
flowering plants are being observed. 

And then there are caterpillars, 
aphids, whileflies and neighbors — 
neighbors who will know if the new guy 
can't control pests. And bees! Just how- 
does one share space with them? 

My blank canvas is turning into a 
nightmare. What if the misplaced tree 
grows 10 feet (3 meters) over a single 
summer? Or if the vegetable patch yields 
not a single zucchini? Don't squirrels eat 
everything in sight? How are they kept 
away from the bird feeder? 

A landscape architect's help seems 
logical. Unfortunately, all funds not 
funneled into rent over the years went 
into the down payment for the half-acre. 

The stonemason left a few pieces of 
golden-vein granite in the backyard, 
perhaps sensing that we are new at this 
stuff. Maybe a rock garden is the answer 
. . . and a’ gazing globe. 1 have found a 
perfect comer for the ficus. 

Ms. Sapienza is a writer and illustrator. 
She contributed this comment to The New 
York Times. 


1 Aus:r . 
■ c-f ih . 


•s Grislv Fni 


■ „ 


75 A.NP 3U 


Credentials 


The Mitsubishi Pajero’s long list of T2 class victories proves the durability and driveability of Mitsubishi cars on the highway 

111— Miii— 1 ■ iii 1— MIIIW— MMUHfff i kfiT MflMBMBI WMBBMI HUM Hil 1 ’WHIUBBMH 1 Tnrier rhe harshest conditions, a Mitsubishi does trvine conditions. The Paiero's lonn list of victories 


i*i in*: 


Under the harshest conditions, a Mitsubishi does 
more than survive: it conquers. The Pajero's record in 
the T2 class at rallies proves it. 

T2 cars are regular production vehicles with only 
basic modifications for racing. They’re very similar to 
the cars you see on the highway. In long- 
distance rallies, these T2 cars are 
pitted against conditions no 
ordinary driver should have to 
endure — blinding sandstorms, 
bone<hilling snow, searing hear. 

Only an extremely durable 
vehicle can thrive under such 



trying conditions. The Pajero's long list of victories 
shows the - strength and reliability of our techno- 
logy — the same technology found in Mitsubishi 
vehicles on highways all over the world. 

So when you drive a Mitsubishi, you can just enjoy a 
relaxing cruise. You don't have to conquer 
knee-deep mud, treacherous ice at high 
speeds or mysterious unmapped 
courses in the Sahara Desert. We've 
already done it for you. But you 
ahvays have that option. 

MITSUBISHI PRJERO 

In wmr roumric* (hr MIUubMiJ Pajen, r crallrcl ihr Unctrm 


t IVt J: 


W*KH p I*lL<«r 


A 

MITSUBISHI 

MOTORS 


CREATING TOGETHER 


I 


1 


§'?S.g BIS’S' 




Page 8 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, MARCH 22, 1994 


SERBS: UN Troops Find Arms Cache Near Sarajevo 


Cntiniied bom Page l 

to end the shelling of Sarajevo. This 
has been accomplished undo: a 
NATO threat of air strikes if the 
Bosnian Serbs did not silence and 
pull back their heavy weapons or 
place them under UN control 

Last Friday, Bosnian Serbian 
soldiers fired a half dozen mortar 
rounds and hit a UN armored per- 
sonnel carrier on a reconnaissance 
missi on of a damaged bridge at the 
Serbian-Muslim confrontation 
lines outside Gradacac in northern 
Bosnia. 


After returning fire, the Scandi- 
navian crew was forced to evacuate 
the vehicle, which was then de- 
stroyed by Serb gunners. Major 
MacDowaD said that what was par- 
ticularly disturbing was that the 
UN force had been asked by the 
local Bosnian Serbian command to 
cany out the mission and had been 
given written security assurances. 

On Sunday, Bosnian Serbian sol- 
diers also fired on UN vehicles that 
were escorting a UN convoy carry- 
ing humanitarian relief supplies 
from Sarajevo to Kiseljak. 

UN officials in Sarajevo said a 


second relief convoy carrying 94 
tons of food coming from Zagreb 
left on Monday for the town of 
Maglaj, which is under siege by the 
Serbs, in north-central Bosnia, The 
first convoy in six months arrived 
there Sunday after Serbian forces 
partly withdrew under threat of 
UN mDitaiy action. 

A UN relief official Kris Jan- 
owskl said food shortages in Mag- 
laj bad proven “not as bad as origi- 
nally reported,*' although be said 
“not a single house” bad been left 
undamaged during the six-month 


JUSTICE: One Law for Jews and Another for Arabs 


Continued from Page ! 
nition — about 160 bullets. But be 
was able to walk unimpeded into 
the Muslim prayer hall because the 
established rales say Jewish settlers 
in Hebron can be armed for self- 
defense and can carry their weap- 
ons into the hall for worship, but 
Arabs must be unarmed. 

It was the Jewish festival of Pu- 
rim Benny Benyamm, one of the 
soldiers outside who first saw Dr. 
Goldstein arrive, said be 
him by saying, “Happy 
Mr. Benyazmn said he then asked 
Dr. Goldstein “why he didn't come 
in his Subaru family car” since he 
had a preferential parking space. 

“He mumbled something and 
entered," the soldier said. “1 didn’t 
pay attention." 

He said he was told not to check 
bags carried by Jews. Rotem Ra- 
the last passageway before^}!. 
Goldstein opened fire, was asked 
how he could have let someone into 
the Muslim hall with seven maga- 
zines of ammunition. 

“I didn't see them." he said. “We 
don't check the bags of Jews." 

But outside the gate where Mus- 
lims entered, there was an explicit 
order to check all handbags carried 
by Arabs, according to Sergeant 
Kobi Yosef. And Lieutenant Qan 
Bit Ion said the metal detectors in- 
stalled at the gates were not used 
for Jews. 


To ssibscribe in Germany 

just call, loll (rise, 

0130 84 85 85 


The dual standards also applied 
to one of the most sensitive and 
irrevocable decisions of aD: when a 
soldier can open fire. Although it is 
unclear whether an Israeli soldier 
could have shot Dr. Goldstein to 
stop him, many of the soldiers on 
duty that day said they were under 
standing orders never to shoot at a 
Jewish settler. 

By contrast, the army sanctions 
shooting at Palestinians when a sol- 
dier feds mortally threatened, and 
soldiers also may fire at Arabs 
when trying to apprehend them. 

An army tank driver, Richard 
Cohen, who ran to the site from the 
barracks nearby, said he was under 
orders not to shoot a Jewish settler 
“under any circumstances.” Eli 
Barakat, a policeman, said he was 
told “not to shoot at Jews unequiv- 
ocally, even if he shoots at us." An 
army document said, “It will be 
emphasized that soldiers are not to 
use weapons against Israelis." 

A soda! sdentist Meron Ben- 
venisti, who has chronicled how 
Israel gradually created a separate 
set of rales and arrangements for 
the Jewish settlers, said the orders 
on when to shoot reflected a pecu- 
liar and “murky” mindset that 
viewed the conflict as tribal war. 

“if the world is divided into two, 
a Jewish soldier and settler belong 
to one tribe,” he added. “People 
have to understand that in this sav- 
age environment, people krilL Shoot 
an enemy — be belongs to the tribe 
that is waning with us. But he can- 
not shoot a Jew because he is a 
friend." 

Ami ram Gonen, a Hebrew Uni- 
versity professor, said Israel de- 
vised the separate rules to avoid 
having to annex all the Arab lands 
it occupies. “What they’ve done is 
functionally create islands of Isra- 


el in the sections settled by Israe- 
lis,” be said. 

In the Jewish settlement of Kir- 
yat Arba where Dr. Goldstein 
lived, next to Hebron, the medical 
clinic is part of the Israeli medical 
system. When Arab residents of 
Hebron need medical care, 
to hospitals run by the Israeli 
tary government or by private Is- 
lamic institutions. 

Drivers who come to the army 
checkpoints outside of Hebron find 
two lanes of traffic. One is for Ar- 
abs, who usually must wait in line 
for their papers to be checked. The 
other is for Jews, who are waved 
through by soldiers. Arabs in He- 
bron who want to go to Jerusalem 
must apply for a permit from the 
nribiary. Jews are allowed to cross 
from the territories to Israel with- 
out permits. 

According to a study released 
last week by the Israeli h uman 
rights group Btselem, Jewish set- 
tlers have been given only light sen- 
tences for killing Palestinians in the 
West Bank and Gaza Strip. Of 48 
cases in which Palestinians were 
killed by Israeli civilians from 
1988-92, the study found that only 
a quarter of the Israelis ever went 
to trial and that only one was con- 
victed of murder. 

In the mDitaiy courts, Palestin- 
ians face laws carried over by Israel 
from the previous British and Jor- 
danian administration, and to these 
are added more than 1 J00 Israeli 
mDitaiy orders. According to Ken- 
neth Mann, professor of law at Tel 
Aviv University, the evidence in 
military court is presented to the 
judge, and often kept secret from 
the defendant. As a result, Palestin- 
ians are regularly given sentences 
based on evidence they do not have 
access to. 


Reuters 

TUNIS — Dennis Ross, the US. 
Middle East peace process coordi- 
nator, emerged from talks with the 
PLO leader, Yasser Arafat, on 
Monday saying the meeting bad 
been “useful" but PLO officials 
said there had not yet been a break- 
through. 

A PLO Executive Committee 
member, Yasser Abed Rabbo, said 
after the meeting that no agreement 
had been reached on implementa- 
tion of last week's Security Council 
resolution on protection for Pales- 
tinians in the occupied territories. 

Mr. Abed Rabbo also said there 
had not yet been any breakthrough 
in talks on Monday with an Israeli 
team that is seeking to renew talks 
with the PLO on Palestinian self- 
rule. The PLO halted the talks after 
the Feb. 25 Hebron mosque massa- 
cre. 

Mr. Ross, speaking after a two- 
hour meeting with Mr. Arafat, said 
talks were to resume later in the 
day. Mr. Abed Rabbo said talk* 
with the Israeli team would also 
resume later in the day. 

In the occupied territories Mon- 
day, shots were fired at an Israeli 
bus traveling to a West Bank settle- 
ment north of Jerusalem, wounding 
two passengers seriously and three 
lightly, settlers and police said. 

The identity of the gunmen was 
unknown, but Muslim groups have 
vowed to avenge last month's mas- 
sacre of worshipers in a West Bank 
mosque by a Jewish settler. 

“Near the village of Bir-Zdt, 
shots were fired from an ambush 
on the left side of the road towards 
the front of the bus,” said Yehiel 
Hamdi, secretary of the Jewish set- 
tlement of Aieret, where the bus 
was headed. 

He said one woman from the 
settlement was shot in the lung and 
was in a serious condition. The 
driver was also seriously wounded, 
and both were evacuated by ambu- 
lance to a Jerusalem bospitaL 

Three other passengers were 
lightly wounded and treated at the 
settlement, settlers and security 
sources said. 


Continued from Page 1 

a historic expansion in the world’s exchange of 
goods, services and capital. 

With so many new areas opening at once. 
Western multinational corporations are moving 
to exploit large stocks of natural resources that 
had been unobtainable for decades. At the 
same time, lor many countries in the dev dop- 
ing world, the exploitation and export of natu- 
ral resources is offering the quickest and easiest 
way to join the world trading economy. 

Yet some people working today on the new' 
trading frontiers are more worried than bullish. 
Some fear that rapid integration of so many 
newly free economies is undermining standards 
of living established in the West during the 
Cold War period, by exposing affluent workers 
to competition from poorly paid labor in the 
developing world. Others worry that the global 
opening is resulting in too much new oil being 
pumped, too many new mines opening and too 
much new manufacturing. 

World trade in fuel and metals totaled $875 
billion in 1992, or about 12 percent of the total 
merchandise crossing national borders, accord- 
ing to World Bank figures. The percentage is 
much greater outride North America and west- 
ern Europe. Fuel and metals account today for 
about 30 percent of Latin America’s exports, 35 
percent of Eastern Europe’s and 65 percent of 
Africa's, according to statistics from the Gener- 
al Agreement on Tariffs and Trade. 

As the world's economic doors open, West- 
ern natural resource companies are leading the 
charge across the thresholds. 

In the oQ industry, Chevron Coro, has signed 
a $20 hillinn, 40-year deal in Kazakhstan. Penn- 


zoD Co. and Amoco Corp. are drilling off the 
Azerbaijan coast in the Caspian Sea. British 
Petroleum Co. is sinking new weQs from Chi- 
na’s shores to Colombia's jungles. French oil 
explorers are swarming over West African off- 
shore fields. 

Richard H. Matzke, Chevron's vice president 
and head of its overseas exploration and pro- 
duction arm, estimates that half of the poten- 
tially oil-bearing sedimentary basins of the 
world were previously closed to foreign invest- 
ment by countries that have now opened their 
doors. 

China offers a compelling case of what is at 
stake on these new oil frontiers. “Petroleum is 


postponed for decades whfle China seesawed 
through various ideological development strat- 


U*S* Holds TARIM: Worldwide Hunt Leads Oil Prospectors to China's Savage Sands 

Useful’ Talk 
With Arafat 
In Tunisia 


No country in the reforming global economy 
is more vital than Ch i na . Ii absorbed about half 
of all new cross-border investment made in the 
world last year. Its domestic economy grew last 
year an estimated 12 percent, the second 
■straight year of double-digit growth. 

Many economists expea China's economy tQ 
double in size before the year 2000, and China 
needs oil In 1985, China was Aria's biggest 
crude oD exporter. This year it is expected to 
become a net importer. Indeed, C hina could be 
importing as much as 1.7 million barrels of oD a 
day by the turn of the century unless it makes 
major new discoveries, according to David 
Fridley, an oD analyst 

China has moved to meet this challenge only 
recently. Its long march to Tarim with Western 
o3 partners — a program now in early but 
vigorous stages, and involving most of the 
world's laigest oD multinationals — had to be 


By the 1980s, however, trouble was brewing 
behind the Chinese National Petroleum Corp.’s 
showcase of Communist self-sufficiency. Only 
three fields produced the bulk rtf China's oQ, 
and all three were nearing peak production, 
meaning total output would soon decline. At 
the -wnig time, energy consumption climbed 
alarmingly: China doubled its gasoline use be- 
tween 1980 and 1988. 

These developments led to a leap in thinking. 
Beijing decided in the early 1990s that it had no 
choice but to open its onshore oD industry to 
outside explorers. 

The richest target for joint enterprise, the 
Tarim Basin, is almost as big as Texas, yet it is 
as remote as remote can be. Situated within the 
Central Asian province of Xinjiang, the oil 
exploration area is bordered on the south' by 
Tibet To the west lie Pakistan and the framer 
Soviet republics of Tajikistan and Kyrgyzstan. 
To the east is the relatively sparsely populated 
Chinese republic of Qingha. - 

The pipeline carrying the oil out will have to 
travel to the east, making a 2,400-kilometer 
( 1,500-mfle) journey dear across China to the 
country's more populous and industrialized 
eastern seaboard. 

Chinese geologists have estimated that the 
geological reserves of the basin could be as 
much as 74 billion barrels of oil and 283 triDioa 
cubic feet (7.9 trillion cubic meters) of natural 
gas. If true, that would be three tiroes the 
remaining U.S. proven oil reserves and nearly 
twice the remaining UJ5. proven natural gas 
reserves. 


NETWORK: U.S. Firms Seek to lift Satellite links Into a New Orbit 


Continued from Page 1 

telephone companies. Beyond that, it will re- 
quire regulatory clearances from the United 
Slates and several other governments. Then 
would come the technical challenge of building 
a huge system unlike anything now in existence. 

Mr. McCaw, 44. is chairman of McCaw Cel- 
lular Communications, America's biggest cellu- 
lar telephone company, with $12 billion in 
annual revenue. A strong believer in wireless 
communications, he defied skeptics and bor- 
rowed billions of dollars during the 1980s to 
buDd cellular systems around die country. 

Last year, he agreed to sell his company to 
American Telephone & Telegraph Corp. for 
$12.6 billion. If the sale is completed on sched- 
ule this year, Mr. McCaw will emerge with 
roughly $1 billion of AT&T stock. He appar- 
ently means for Tdedeac to serve as the next 
act in his business career. 

Mr. Gates, 38, dominates the computer-soft- 
ware industry as the chairman and chief execu- 
tive of Microsoft With $4 bfiHon in sales, 
Microsoft dominates sales of computer pro- 
grams that govern the basic operations of IBM- 
compatible personal computers. 


It is also a leading provider of applications 
software — word processors, spreadsheets, 
games and the like — for International Busi- 
ness Machines Corp. computers as well as the 
Macintosh computers made by Apple Comput- 
er Inc. His net worth is estimated at $4 billion. 

Mr. McCaw is chairman of the new compa- 
ny, of which he and Mr. Gates each own about 
30 percent. Mr. Gates will hold no executive 
position in the company. McCaw Cellular wDl 
own a little las than 30 percent, and its stake 
wOl be transferred to AT&T when McCaw is 
sold. AT&T’s future role remains unclear. 

Neither Mr. McCaw nor Mr. Gates could be 
readied to comment. 

As envisioned, the new fleet of satellites 
would be placed in what is known as low-earth 
orbit, about 435 miles (about 700 kilometers) 
above the Earth. Circling the globe from pole to 
pole, these spacecraft would be far closer than 
traditional “geostationary” communication 
satellites, which keep pace with the Earth's 
rotation from positions 2Z300 miles above the 
Equator so that they remain over the same spot 
on Earth at all times. 

The proposed system beats some resem- 


blance to the Iridium project. Bui that system is 
to provide the satellite equivalent of a cellular 
telephone link, good for carrying mobile voice 
conversations and linking people with laptop 
computers. 

The Tdedesic system essentially sacrifices 
this mobility and would require people to re- 
main at a fixed location as they communicate. 
Id exchange, it would offer much more capaci- 
ty, or “bandwidth,” so customers would be able 
to link computers over worldwide networks, 
beam X-rays or other medical images or cariy 
on two-way video conferences. 

The most astonishing feature of the Tdedesic 
system is the huge number of spacecraft h 
would employ. Each of the 840 satellites, which 
would be munched over several years, would be 
about four meters long and one meter wide and 
would be launched in clusters of as many as 
eight at a time. Once in orbit, they would circle 
the Earth along 21 separate orbital paths* to 
cover abou 1 95 percent of the plana at aD times. 

Before anything goes into orbit, however. 
Mr. McCaw and Mr. Gates will have to raise a 
lot of money. 


*; 


EDUCATION DIRECTORY 


ULS JL 



WITH 
THE EAGLES... 
SELECT A 
REE 

IN AVIATION 

At North American Institute of Aviation, well put 
our 22 years of experience to work sharpening 
your knowledge and skills. NAIA graduates fly for 
airlines around the world, including Air France, 
American, British Airways, KLM, SAS, Swissair, 
United and US Air. 

At North American Institute of Aviation, there 
are no gimmicks or quick licenses. In fact, you 
must pass an entiy examination just to attend 
We are serious about flying. Call us if you are. 



NORTH AMERICAN INSTITUTE OF AVIATION 
DEPT. 33— CONWAY HORRY COUNTY AIRPORT 
CONWAY S.C. 29526, USA 
Tel: (803) 397-9111 Fax: (803) 397-3776 


FAA APPROVED SCHOOL- 
# C18S061Q 

Designated as a USLA Exchange- Visilor 
Program Sponsor fJ- 1 ) 



coufcri at rroMOun 


C* 


I 


do you want concrete results 
in a foreign language ? 






■ Choose your programme (fully adapted to your personal learning style) to 
| have a maximum return on your investment of time and money. 

I 
I 
I 
I 
I 
I 
I 
I 
I 
I 


A 

L 

A 

e 

A 

R 

T 


Length of stay: from 1 day to several weeks. 

Afl programmes include: 

- 8 lessons per day; 

- in mini-groups and/or private lessons; 

- from 8 a.m. to 10 p.nL, die opportunity to practice what you 
have learnt in the company of native speaking teachers; 

- socxHXittural activities. 

Centres in Fiance, Belgium, Ireland and Spam. 

Languages: French, Dutch, German, Spanish, Italian, 
Japanese and English. 

In Belgium; Intensive French courses Ira young people 
aged from 13 to 18. 


CERAN 

Avenue du Chateau, 264 
B-4900 SPA 

Tel. (32) (0)07 79 1 1 22 
Fax (32) (0) 87 79 11 88 



Since 1975 


In USA : Tel. (413) 584 0334 
Fax (413) 584 3040 
In Switzerland : 

TeL ( 41 ) 21 3235 397 
Fax (41) 21 3117 403 




GKATBHTJUN 


ErigUph S»*B®Kt.&rHs>9l 

Raidntial Summe r HotUal Fm g ihk Language Cwwfl 

* 1 J July in S .Aiipus hie 10 - 16 tot cMs * ewflcnr can: 4nJ supervision ml mill classes * 
* braurifut rural frcnnrei iKjr&lisliurY * compfehwisive spurts und reenanmal Beilina * 

SEND FOR FREE OUR VIDEO: 

For junker mfomaaoa cmuiscr;- 

The Principal, The Burton* S umme r School, Suite 2, 4 Crick Raid, 
Oxford OX 2 6 QJ, England « TcVFnc: ( 44 ) ( 865)512149 A 


GERMANY 



UNIVERSITY OF MARYLAND 
UNIVERSITY COLLEGE 

Schvvabisch Gmund, Germany 


Degree Programs 

Bachelor of Arts (BA) * Bachelor of Science (B.S.) 
Master of-lntemattonal Management (M.I.M.) 

Study Abroad 

Academic Year • Semester • Summer 

Academic Concentrations 

Business & Management • International Studies 
German & European Studies • American Studies 
Computer Studies 

Residential Campus 

Dormitories • Dining Facility • Student Center 

For ackftional Information, contact UMUC at 


A dmissi on s Office. Box 328 

UiftmMUparic 

73525 Schwtfbtoch GmQnd, Germany 
Tab +48(7171)18670 
Fare +49(7171)37525 


International Programs, Box 4A 
Urfwxsily BM. at JUNpW Rood 
colego Park. MD 20742-1644, USA. 
Tel: +1(301)985-7442 
Fax; +1 (301)985-7578 


A Major American University 
in the Heart of Europe 



RIS 

MrttSRAMS 1994 

- July 22 
•‘S*. v#’ jfa&K- 2-5 -^Axtgvs c 12 

- *----! i4.-v ■ i_ 


Vcurri col turn, 




of Paris - Summer Programs 
. --54 a rearoe dcNevv-.York - 75116 Paris 

47 20 45 64 

/•' 

’ ' ' ■ T' --'• .. THR 

l OF PARIS 


INTENSIVE, SHORT-TERM 
TRAINING FOR WORKING PROFESSIONALS 

3 CERTIFICATE PROGRAMS; 

Business Management, 
Internationa] Marketing, 
Advertising Strategies & Techniques 


AMERICAN l, MYERS ITY 
OF PARIS 


The American University of Paris 
34. St. de New-York, 75116 Paris 
TeL: (33-1)47 2044 99 
Fax: <33-1)47 2045 64 


INTERNATIONAL CLASSIFIED 


ANNOUNCEMENTS 


Attention visitors 
from the U.S. ! 


ALCOHOUC5 ANONYMOUS frofah , 
HulS i 

1 4$ # » r 

:<g80B2tf,l 



If you enjoy reading the IHT 
when you travel, why not 
also get it at home ? 
Same-day delivery available 
in key U5. cities. 

Cal (1)800 882 2884 

(in Now To* a* 212 752 3890) 

ICCTathSKSrUnmft 


hfcUMG low? — baring 
SOS HBP criss-ina in Ewfah. 3 fwn. 
1)pjn.TefcPnm(l)47l3l»aa 



REAL ESTATE 
TOR SALE 


PARIS & SUBURBS 


HUBS, 7*. RUE DE BOUiGOGNE 
Double tiring + ) bedraani iJ con 
forts. Banovaied. Tefc (1] 40 51 00 54. 


SWITZERLAND 




UHEBEKH& 
MXRini 8ES0RTS 


Sc* to 


BAREME AS 24 

DD 22 Man *94 

Air Hon TVA m deiiu bade 
pmdKtion (hpontie sue demart) 
fa mpfoce tat berimes ort tirie u ri 

HIAMCEJnne q an FF/I. TVA 1 


GOsI. 

SOT: 4/2 


FOO*: 1,96 
SC5P : 4,45 


\)Xon«1-TVA ! W 1 » 

GO: 0 A2 fOT: 02 6 

AUEMAGNE on DM/I - TVA: l$0X 
GOc SCSftlJO 

GO: 1,03 (Berfin 

GO: 0,94 (Abba) SOP: 1,29 

GO: 0,95 puHT FOD: 0,43 

BBLGKXiEen FB/I - TVAi 20.5DK 

FOO: 9,56 
SCSI* =25^8 


GO: 2075 
SOT: $05 

BHkGNE «i PTAS/1- TVA: 15JK 
00:70,61 

SOT:92J6 SCSfc9287 
* l&qga rtgkmeMt 


_ ^ Iff! 

Mled APAKTtfENTS/OiAlEIS 

In MONIUBIX, VUARS, IEY5W, 

LES DUSJBEI^ GSTAAD, 
OANS-MONTANA. VBSB, Ml, 

From Sir. ^OMX-^MortBOy«] 

5JL MooHrikxit, (H-121 1 Cm 2 
7? 4123-734 15 40. Fax 734 12 20 


vmass 

New luxury mm bwfcoom apntmanl 
54 n n, + befcofijr 10 kla, oarage, 
raedace. 70 mnules G«>evo. 

Sfr 4JO.OOO. Morfuaoe ovrfoWe. 

733.1449 


KOUGEMONT NEAR GSTAAD. beau- 
#M, recenl 2-flat CHAlfT in calm aid 
snip dorian. Srie aultaraed to 
foremen. Veorf)> rental cfao paniNe. 
TA +41-22731 66 31. 


USA RESIDENTIAL 


MAUI HAWAII, OCEANFRONT 

Cmdoi. S20JH0+ down/ful price 
S140rcO-KWw« - 
qualifying. Col 24 houn. Tefc 
QUO. Fob 808469-1228 USA. 


LOW COST FLIGHTS 


OAMT RIGHTS a Iowa I faretai^ 

. | tourist ' 


mil otport on 1st, brinejs & 
JeHFTfeii fl) 47 55 13 13 


REAL ESTATE 
TO RENT/SHARE 

HOLLAND 


GB APARTMENTS •••• long 
& Short Term Leases for bend fur- 
nished houses & fiats. Tefc +31 20 
taxon. Fa* +31 20 6390475. 
Jteaersgah^^lOTS'CjC^taMrdara 

PARIS AREA FURNISHED 


APARTMENT. 1 ROOM, ■ Paris Idris 
Pie de SI. Good, new, wel deew irid , 
furnished, Been, crockery, trashing 
modiine..35 iqja. F5,20a/ month n- 
o. Serious le fa ai u n a 
12421 72. office hours 


• ■ • • * • TOBBIT* • 
Hfflidpicted quaby t cu ti n enri, 

saw, Fads aid suburbs CAPITi 

PAHhgRS Tefc 01.44 14 82 11. Ft nt 
(1)47-72 30 96. 


PABS ffih, 2 mine CHAMPS ELYSES 
Luxurious 40 sqjit, 4* floor, on forge 
heed cou 1 — 1 “ 

F3L500net 


cowjyad. 
net 1efc 1-4 


PARIS LA DEFENSE I south Montparnasse, 2 roan. 


r RESIDENCE CARTEL 

Spacious 2 or Jroam apartments 
to rert for 3 days or more. 

G tamedaie Reeer»- 

frit fti: {*3-1)4125 16 16 
Tax 133-1)4125 16 15 


AGENCE CHAMPS EY5HS 

speaafoh in Furnished o pu rt i i w S s . 
residential area* 3 monte and more. 

Td: (1) 42 25 32 25 

Fax (I) 45 63: 


37 09 


AT HOME tt PARE 

PAR15 PROMO 

apartments to rert Furmhed or nor 
Soles ft Property Management Services 
25 Av Hodie 75CDB Pom Far 1-456 11020 

Tefc (I) 45 63 25 60 


74 champs ayss 

CLABJDGE 

FOB 1 wax OR MORE Mi doss 
stac b, ? o r 3-rtxm wrtnenh. FULLY 
KXJfpfm (MMSfATtRESEBVATIONS 
Tel: (1) 44 13 33 33 


LAMY, 75116 PARIS 

5 Awe. Rare Ter de Sortie 
Tefc 1-40 70 18 B4 or 1-47 23 53 14 
Stxxl and Long Term Hamah 


I1E SAMI LOUS. 1 Bedroom 


Tel 


75 77 


BUSINESS MESSAGE CENTER 


mSJOSAK ADVISED 

that the International 
Hertdd Tribune cannot be 
heUemponeSdbtbeheeor 
da mages incurred aearo- 
ssdt of tro nee t a hm st em 
using horn odm t k mn onts 
wbkh appear in ourpapor. 
tt is theinforo swBosswmsd- 

od Art readers make op- 
proprksto inquiries before 
teadmrg any money or en- 
tering Info eery bhtdksg 


BUSINESS 

OPPORTUNITIES 


OFFSHORE CO WPAMB 
* Tree profound u wdMiofl: 

’ Worldwide mcoporohom 
’ hw edfole oratabKty 
“ W) conWertid services 
1 London repre s entative 
1 FuB o dmms m ft n n services 

ASTON CORPORATE TRUSTEES UD 
19. Fed Rood. Doughs. We of Mai 
Tefc 0834 626571 ^0624 625126 


COMMERCIAL/ BUSINESS flNANCE 

ssfiHaHe for an* viable prefects 
worldwide. Fm brief nmopsri in 

*5, Corprtrte Advances, 44. 

300- Onto RefeTI 


OFFSHORE COMPANIES: JPO, 1/5 

Ouch She* Dough*. We of Mon. 
Tefc (0624) 629529 fa»P6241 629662. 


REPRESENTATIVES NEEDED to note 
loan Ptuuye Ccrtod: Law Office* 
USA. PAX.- 5)2-795-8126 USA 


CAPITAL AVAILABLE 


CONHRMABLE DRAFTS 
BACKS BY CASH 

* issued m Your None 

* Confined by Major tall Bonks 
to Prove AvriatAy of Funds 

* Docked byPrivcfe Investors 

CAPITAL SUPPORT COUP. 
OS. (71 4) 757-1070 Fax 757-1270 


BUSINESS SERVICES 


XFSHORE COMPARES. For free 
brochure or advice Tel: London 
ii B1 741 1234 Ffou 44 81 748655B 


PROJECT IHANCE MTBMATIONAL 

44 603 762239. 


$AVE ON 
International 
Phone Calls 


OWMnx xx Sjpte SplSie 

arfitaSKss: 


Col now far r e in aid we ho w 
UnesopenLH horn. 

ggUbacIs 

Tel: 1/206-284-8600 
FOX: 1/206-282-6666 

417 Second Awnw Wen 
Sertlte, WA 9B1I9 USA 

Agent inqwriH wriceme 


GENEVA 

SWITZERLAND 
Rffl Service 
b our Business 

■ hriemoiiand law and kacet 

• Morfoax. telephone, tele* and 
tafocopier sennens 

• Translation and se cre tarial sennees 

• For morion, AmwAotexi and 
□damtratai of Swiss and foreign 
composes 

• Fwrrtied offices aid cen t er er n e 
rooms for drily or leorthly rente! 

Fril confidenc e and dsaetwa assured. 

BUSINESS ADVISORY 
SERVICES SA 

7 Rue May, 1207 GBSEVA 

Tel 736 05 40. 11x413222, Far 796 06 44 


OFFSHORE COMPANIES 
FROM £150 

Various eowrinee. FiA sennas. 
WTBtNATTONAi. COMPANY 


SBTVKB FUK) LIMITED 
SfandbmcNc Hatt. 2 ■ S 
Old Bond Street. London W1X 3TB 
Tel: + 44 71 493 4244 
Tel: + 44 71 491 0605 


SERVICED OFFICES 


FEW 

.YOUROFHCEW PARIS 

upped aid servant! offices, 
on Saif nuM r Or ^morthlv 


Anwto __ 
pmonaEted 


Sepetonol i 

wricei 


YOUR ADDRESS dot OflBEA 1 9 tins | 
tewwn oddro, Fox/phone nuntoer 

BUROCUie FRANCE MAOBBNE 
WBIdModrteira.fVsroWi 

Tel 33-I44 51 SOM Fax 33-1-44 51 9091 


45 O 52 49 or fl) 


F^OOO + charge*, tefc fl 
” ’ 45 04 7393 


INVALIDS - 60 n) jn, APASttNBU. 
2 rooms + fcege drrasmg roam, Brfi 
floor. Free end March Tefcj+555<675 


16% RUE BQHEAU, beartiM ftxfa 
wkn bdeany, new. on ooden. F5£00 
Mdurinn ctogra. Tefc 1-45 1 6 01 TtT 


NEUR1Y, near metro, 7th floor, 100 
Kfcin- AfiMx. ErpbaL 2 bedrooms, 
wew, sunny. F7^fe Tri: 1-47200484 


PARIS AREA UNFURNISHED 


Embassy Service 

YOUR REAL ESTATE 
AGENT M PAHS 
Tefc (1) 47.20.30.05 


PLACE BRBHJU. . 
Ugh drat, 5 rooms, 


w, cupboenfa, fire- 


trapomAL AKA. 

'.*Un- t rooms, triple re- 

raptwi. 3 beekwms, certrol hecrino, 
, efoYotor. Mad’s room. 

■ Tefc fl) 42 36 00 04. 


16(fi, rSOCADfflO, 
room with bricon,. , ^ .... IDUUQ| 
FWOO + dupes. Tefc MS 1601 76 . 


CHAMPS DE MARS, 2 receptions, 3 
be rfc u m i B . fireptaoe, 3 bads. FHfijKO 
l Free 


44 53 5ff26 
Paris 1-47 05 


AKAGO 

2 room, 10 th 

3 rooms, 6th 


immer&eehr. Tefc 
(tons dd 16) or 
(XL Fur 1-34 60 3) 90 


3 roans 6 
Arwale Tefc 


JULf 


PANTHEON, HK3H CLASS, new, 
160 5 rooms with terrace, 

F24JOO 


kitchen. 


.. Parking. 

ges. Tefc 1-45 16 0176 


EMPLOYMENT 


CSNEBAL POSITIONS 
AVAILABLE 


HOTB. CONTROUB 

Uodng fiw star hotel in Ldmon, 
Ernt of Krai, seeks 0 highly mowctod 
untroDer with excelent mterpersond 
skm lo oversee finance, acaxrttag ond 
. mtatnol contraL Paitian avrikne 
■"necfcieiy. Canddafn murt hose a 
Bachelor's Degree in accounting, at 
least 5 ye*i experience m HdM 
oocowtang monggenwrt, and soM 
knowledge of computerized oanutfmg 
jjstena and hotel mfarmalian systems 
otvertag Front Offiat. Food ft Beverage 
and Pcinb of Sde. Fluency in 
and French required; German and 
aditioncl fcmguoges an aArartcgt 
5°*! OT with photo, r e hf U M and 

WGTTOGJc^raWUffANrS 
7. roe de Mtw terid fc o . 751 16 Paris 


gensbal positions 
WANTED 


PJL - PA POSITION waved, by 
vputifl cfokognted French Vjdy. m 
Perns, tady or USA Tefc 1-W53M74 


LEGAL SERVICES 


WTORCE EAST. S29i0a PO. Bo* 
8W, Aiohom CA 92802. CdUhe 
(7iq9Sft8695 USA 


flcral b^& rihim* 


Place 


planning to run 

A CLASSIFIED AD? 


and easily, corrinct your 
nearest IHT ottice or rmresertative wifh your text. 
You will be informed of fhe cosf immediacy, and 
4QL? l 5 . m °y e Ypur od wil appear wifhin 

48 houn. All mapr Gedtf Girds Acc^ed 
EUROPE 


BWKElHQfcPtaa, 

StWSSSSt 

GBMANT. AUSIRU ft CENIRAL 



GOEOE ft CYPRUS Ah**, 
Tel: I3011OS35246. 
fisc 654 5513. 
DENMARK: — 

Tri-3142 
PMANDs H 
TeL 358. 

Foe 6121 
HALT: Micro. 

TeL: 5831 5738. 

Fax: 5402573. 
fcmaLAN^Ammnd*, 
Td Jtt&St 
foe 6737627. 
NORWAY ft SWEDEN: 




H.M7|S59f3Cro. 
Foe 147)55 913072. 
PORIUGAL Lntoo. 

Jdj 351-1 -457-7293 

Fox 351-1 -457-7352. 
SIWtMafcid. 

Tel: 3506789. 

Foe 3509257. 
SWITZERLAND: FVJy. 

ftue (021)728 30 91. 


UN 1 TB) STATES 

NEW YORK: ' 

TeL pi 21 752-3890. 
175^8785 
1 572-7212. 

175 

OKAGO: 

ftl PI 3 201-9393. 

facjaiaxii-vm 

Toi fWjaOO) 535-6208. 
IOSANGBES: 

TeL Q] 3) 850-8339. 
Foe5ll851-15DB. 
lol (ok (800| 648-4739. 
■iXASc Houstart 

TejTFfocma 496-9603. 
fcklrogfeOOl 526-7857. 


CANADA 

TORONTO. 

TeL: (903833^5200. 
foe (905) 833-2116. 


MBIPIf EAST 

«AB EMMIBe Shojriv 
TeL p61 351133 . ^ 

fac |0d) 3748888 
Tfllsc 6B484 TBNGtF. 

ASIA/PAOBC 

HONGKONG; 

&L (852 922211® 

6T17D NlHC 
Ftac (8529222-1190. 
SWGATORE: 

Tit: 28749, WT 
, ta (65] 224 1566 . 

T>e 133673. F* 32 01 02 09 







Nina’s Savt 


S V. w 1 

«■* fee «!«**_. 

* Chj p.ese \ -..'“ * r *toi h|* 

-’Ufn^S 



International Herald Tribune \ 
Tuesday r March 22, 1994 . 

Page 9 


«s develop^".. . ^ ' "V 

giltedeain^^^ilcap ' 

; b u * » ores Ib^.V 

icexpicrtft. ‘ ‘“* n, ^«aiS 

: rich?*? 


riches-; tarae; -,«■ -“}, 

: ®i«n. L> a]rn,->; V. f,V; ri1 ^Icm. 
i«*; as remoie c^n u '= * TnJ^i 


--‘tiV»; •« f -Menu 

*9*““ remote car- h* c * 

TMfe wK! lwp^«!^\J: 

^B'-her^: V nd ^C : 
sc republic of <w;. pir ^lv'pB 
•pirciu^camif.VtC . -l > 

lc» rhe ew'n;i:!." lll ; 'uiM, 


'-niLei ! oume\ c _ ‘ -•+'Jiul^ : 
*'* more p*'^::. 
a *eu board. “ ' ‘ a Hiding 
sese ceoloai.vis ;-, .. ., ** 


aese zto.^.-'.s ;. _ ** 

acal nstfnV\if“v: 

as .-4 billion n * . '“' lr) CfBilrfT* 


. V ” «»« U - m “4- 
35 ■ 4 bliaon n^*— •• . ' ": in Could l" 

fceir.y snllhc'.-V.im 

Mnw. that 


runs L.n. p:o\ c - • . ‘ ,hr * njJ 
we rerr.ivr.i72 •, , 

-S. ‘ CT| nauw. 


s Znfo a 


Mo tie Iricsurr.- 
vidc the * 2 :d:rl 
iMie :;nk. good i 
tut ins s »r.i; i:r 

ners 

- T'ilOWi >i j[ 

ttNiirt ar.c ic- ; 

3t 3 fixed !iw.i 
•hang;. ;i 
•bardw:J--h.- v 
k computer. - 
X-ray? :r c-r.cr 


-Veir Orbj 


• l!M But ihais 


1 ■* '- irr ‘'ns nrta^ 


. yns 

'" re.-pic 4-iiU 


'. m>X*£ .i* 1 1 *ru ■* ~ : r: 

n :s the 
lerop.o> L-.i . 
Icviijr.ctsj % 
f.'UT nwzer- 
i be .'wjr.c'-.^ • 
i!-Lr.; \.‘rre 


" T "' r: '' *Poi«H 

'■'■ -• •istf.mfi 

• ••i 


-5 r-.’.’rr 


LVu’a -rv V- 
•:a)r.c- 


r: -:^.r . :-;U. Pi;. 
'■• M TT -.fl- 




an, -• : f. - r--t¥* mass . .j.. 


iH' • -. ■- “ ••■<•• 

TU-: TfiT' • r__ - 1 ■: 

2JZV.‘ : Max" u>.!* -r 

IT - - - “ • ■ «■ 

l^f-r ‘ •.■■■_ gif' 

'. • • ‘ : • ■■■ ' • • ' •■ 

i ■* :'b ; ji :iN*-:Cs -5-M 


iWKt-'lai 

i* K(*. : • - 

- r - 

»Ti ■“ 


h!VPLO\ME>! 


sat ■ — 

'■- . . a *. : (i Vl KSIiVfr 


1MTMTV 


.11 »3I ■ 


»*!*'* '■ 

AC ir 


r nT5 CONiSCS 




aeiwe 

ISTATS 

FA1I5 

0.3C35 




’ u-.sTrr. 


ikir*. tat 




ANNINGTORUN 

'CUSSSIFIEO AD; 


pp t =* v - j; ;" . • % ^ 

r* r ' ; "J _ ;7^- 

rt 


»tK»- 


r .W- ' ' ■.;>: 


S^- . 




. - J,. — ' 


:.Tt , v* 

JA % . 





^kvLr Ytanii IHT 


Riding to Hounds: Jewelers and Mailmen 


f: ye* 

- u ;;-r cpeo ^ ^ 

■ •;/; !hc - t'Tinna; ^ 

• • fr-’-A etnet 

*;*;■ r ; er > 

* : ‘• •' I 3*i(l c toil 


By Jean Rafferty 


P ARIS — The echo of a hunting 
bom in the crisp forest air. the 
glimpse of a graceful stag leaping 
through the underbrush, the bay- 
ing of the hounds and then the flash of red- 
coated riders in hot pursuit. To the weekend 
promenader, riding to hounds, known as 
chaise a courre in France, may seem as 
anachronistic as the anrien regime, when 
stag hunting was a royal privilege. 

The reality, according to the French 
sociologists Michel Pintjon and his wife, 
Monique Pui 9 on-CharloL, is very differ- 
ent In their recent book. “Chasse a 
Courre." they say that after a three-year 
investigation they found that far from 
being a pastime indulged in by a few, the 
hunt has never been more popular nor 




Eiko Jshioka, an Oscar-winning designer ; refuses to "stay in the same place. 


Hifmuii Ankm 


Dressing Up the Movies 


books, investigations of smart Parisian 
neighborhoods. 

Outlawed in Germany and Denmark, 
violently contested in Britain, the cha&se a 
courre came close to being banned in parts 
of France 10 years ago. 

The Pinions began their investigation 
believing "what everyone told os, that the 
hunt is practically finished.” They found, 
however, that the hunt is thriving, with the 
number of registered hums up from 218 in 
1914 to 381 in 1991. Twice a week from 
October to the end of March, almost 
60,000 French men and women head for 
the forest to bum with a pack of hounds. 
The most glamorous equipages, dressed in 
jackets of their bunt colors and mounted 
on horseback, hunt the stag to the trumpet 
of hunting horns. Others pursue female 
deer, foxes, wild boars or hares on horse- 
back. by bicycle or on fooL 

Hun ting stags is the most expensive, not 


in hunting with hounds has taken place. 

The Pinqons, who attended more than 
SO hunt meetings, discovered a rarefied 
world of ritual. An insider's vocabulary, 
the code of the hunting horn fanfares and 
strict rules of hunt courtesy (there is a 
protocol guide to help neophytes) bind 
members (called boutons for their distinc- 
tive hunt buttons) and followers into a 
close-knit circle of initiates. 


by only a hoof prim, perhaps, and a broken 
branch. “It's an extraordinary moment, 
there is something very mysterious and im- 
pressive how he can read the earth and 
between the leaves where I see nothing.” 
says Monique Pinion. 


By Andrea Foraes 


T okyo — Eiko ishioka 

feels as though her eyes 
are becoming blue. The 
Japanese designer, who 
won the Oscar in 1993 for best 
costume design in Francis Fond 
Coppola's movie “Bram Stoker’s 
Dracula," is. coming to a new un- 
derstanding about her country. 

“I am booming more like a gai- 

,.i : .t. T 


Calls started coming in from 
abroad. "Some of the producers 
and directors had enormous cour- 


and whether she is married or has 
children. 

The only personal information 


possessed a wider following. Ivot all hunt- nun ting sta|s is the most expensive, not 
mg aficionados are hunters; the Ptncons surprisingly. Members' subscription to the 
report that an estimated 50.000 people in BonneUes, whichhunts in the Rambouillet 
France are regular observers. The Pincons forest west of Paris, was 22.000 francs 
also came to defend a sport that is highly a V? 3 * ^ At * c * 15.000 

controversial 10 30,000 francs for a saddle horse plus 


age to hire an outsider like me,” she she offers in an interview is that her 


They found that one of the choicest 
hunts, the Bonneiles, attracted a large 
number of devoted and knowledgeable 
onlookers, since following the event is free. 
Riding to bounds, say the Pinions, “is 
doubtless the only form of hunting where, 
as long as he doesn't hamper the work of 
the pack, every spectator is welcome:” 
Bonneiles’ followers range from postmen 
to professors, nurses from the nearby hos- 
pital to Paris taxi drivers. “After the hunt, 
everyone speaks to everyone else,” says 
Dauchez. "It's a wonderful chance to 
m«L” 


T HE hunters then rendezvous at a 
clearing. After a report on the 
animal's whereabouts, a “Run- 
offer” or “Let’s Go” is sounded 
on the horns, the pack picks up the scent 
and the hunt is on. 

“It is difficult to explain that one loves 
the animal and one kills him,” says Cava- 
lade. Dauchez points out that the culling is 
strictly controlled. “We have a quota, be- 
tween 25 and 30 out of 600 stags.” 

“The drama being played out in the 
forest is the drama of life,” says Monique 
Pinion. “The idea or nature includes life 
and death. In our society, death has been 
pushed aside, one mustn't speak of it. 
Even in our food, there is no trace of the 
living animal just fish fingers, pieces of 
chicken wrapped in plastic. Our society is 
very hypocritical about death. Death by 
car accidents doesn’t shock at all but 
death in a hunt provokes a violent senti- 
ment.” 

Like many of the friends postman Cava- 
lade has introduced to the hunt, the Pin- 
ions seem won over to the cause. “The 
chasse & courre couldn't be more con tan- 


said. 

Ishidka formed a dose bond with 
Coppola, who like herself, refuses 
to ^stay in the same place, to tty 
again and again the same thing." 
Coppola had similar praise for her 
designs for “Dracula." “By bring- 
ing in Eiko I knew I was Insuring 


most recent project has been to 
organize an office, described as 
cluttered with books and sketches, 
and that her free time has been 
spent visiting museums and dining 
with friends. 

Among the proposals she is eval- 
uating are two American film pro- 


jhC she says, using the Japanese th, ‘ 1,1 l ag , t .? le , elcm ? 1 ~ tte ” 8C “ d 

JLa tZ. feLLZ T 6 -! costumes, which were so important two books, one an essay about her 

-word./orfyoguer. I used to gel fa of pto ^. oa _ ^ the other a collection of 


taEJIC in my scheme of the production- life and the 

would be completely atypical ab- recent works, 
couldn t look at modern aspects of Ja niWuT- 


“We went from surprise to surprise” says 
Monique Pinion. “The first was the social 
mix: chtkes and bankers with street sweep- 
ers and postal workers. The two extremes of 
society that have everything separating 
them come together deep in the forest unit- 
ed by a mutual passion for the hunt." She 
adds; “1 1 is a social situation rare enough to 
interest the sociologist” 

The Pinsons decided to study the chas- 
se a courre while working on two previous 


10 jfu.uuu irancs lor a saddle uorse plus 
almost 3,000 francs a month upkeep, along 
with 15,000 francs for riding equipment 
and wardrobe and it’s not surprising that 
Bonneiles members have names like the 
perfumer Guerlain. Hum master Alain 
Dauchez is part of the Mellerio dynasty, 
Parisian jewelers since 1516. 

Hunting hares, on the other hand, is 
done on bicyde or foot with fewer dogs 
and a lower annual subscription (about 
2^00 francs), and it is among the hunts of 
smaller animals that the major expansion 


And when followers are bunt connois- 
seurs like the Rambouillet postman who 
appears in the book as Gfrard Cavalade. 
they find doors open serially all over the 
hunting world. “You are a member of a 
family, recognized as a pan of the hum.” 
be says. “When 1 visit small hums in the 
country, Fm greeted as if 1 were the presi- 
dent of the republic!" 

in the morning before the meet, the mas- 
ter scouts the stag to be hunted by “working 
the woods.” With a specially trained silent 
dog, he picks up the trace of a suitable sta& 
determining the sex and age of the animal 


porary," they say. “It is traditional but 
full of vitality " 


Jean Rqffeny is a Paris-based journalist 
who specializes in design and lifestyle 


Japan. Now, like them, I spend my 
time and money with Kaboki, 
shiatsu, ikebana, temples, tea cere- 
mony and onsen (hot-spring 
baths].” 

Ishioka lives in Japan half the 
year but does most of her work 
abroad, where, she says, there are 
more talented film and stage direc- 
tors. “I love the challenge to collab- 
orate with very important people 
because 1 want to study more and 
more. Of course, I have had offers 
to work as a set and production 
designer for Japanese, but when 
I’ve considered tlx director and the 
story I've said: Tro sorry but I 
don't want to do it.’ ” 

The development of Ishioka’s 
alien perspective got its start in 
1983 when she worked as a produc- 
tion designer for “Mishima,” a film 
about the Japanese writer Yukio 
Mishima that was directed by Paul 
Schrader and produced by Cop- 
pola. 

“It was a disastrous experience. I 
started to hate this country. 1 saw 
the negative character of Japa- 

« T«l,inlrq caul MTchima’s Wld- 


solutdy original and unique,” be 
said in the book “Coppola and 
Eiko on Dracula.” 

Coppola’s appreciation of Japa- 
nese culture was based on familiar- 


ity with Kabukl Noh and Bunraku, 
she said. Nonetheless, he embraced 


she said. Nonetheless, he embraced 
the designer’s work, even though it 
was only abstractly related to these 
traditions. 

“Why did Francis want to get 
Eiko?" she began, using the third- 
person voice maintained through- 
out an interview. “He explained to 
foreign journalists be wanted Eiko 


She is also preparing for several 
lectures. 

“Japanese invited me to lecture, 
to hear how I became internation- 
ally known as a Japanese artist. But 
they have the freedom and the 
money to do the same, so why don't 
they?” she asked. 

“Perhaps one reason is that they 
are not hungry. But I am hungry 
and angry most of the tune, and 
that makes me stronger, more cre- 
ative and passionate.” j 


SPRING SUMMER 
COLLECTION 


THE BEST OF EUROPEAN BUSINESS TRAVEL 


ESCADA* [ ABANOTERME 


Paris 

For orders 



B]R©SSELS 

HI 


FAX: (1) 42 84 24 15 


MONTGOMERY 


Marie-Martme 


ARABELLA 

Grand Hotel 

Frankfurt am Main 


MOnchen 
Sheraton Hotel 


TOKAWVOODiA 


to get the Kabuki style. But 1 never journalist. 


Andrea Fames is a Tokyo-based 


felt 1 could develop the Kabuki 
style. I developed Eiko style. Once 


8, rue de S&vres, 

Paris 6th 


Swimming Pools. Tennis Courts. 
Golf. Evening Emeruinmexu 
Beamy & Fimess Center 


Beauty & Fitness Center 
3503 J Abano Teime. Italy 
Tel : 139-491 866 9IOI 
Fax ; (39-191 SA6 9779 


style. I developed Eiko style. Once 
we started working together be nev- 
er asked me to create Kabuki 
style.” 


BratseK Finest Small Holel 
Elegant St Intimate Almospben? 
Beautiful Library 
Private Fax in all Room. 

134 Avenue de Tervueren 
1 150 BruxseK Belgium 
Tel: 132-2) 74 1 8511 
Fax: (32-2) 741 8500 


Downtown Local ion. 

7 Rotauranu. Bar with Uvermivic. 
Complete Health Club 
with Swimming Pool 
Konratt-AdenaucT-SLrassc 7 
D-6Q3 13 Frankfurt/Main 
Tel : (49-69) 298 10 
Fax : (49-69) 298 1810 


All Sberaton Comfort* 
ulm a Great Pool 

Delightful" Outdoor Bin Garden Ca/t* 
A Munich Innituikw 
Aiabcllasintui! A 
D-K000 Munich. Germany 
Tel :( 49-89 J 92640 ' 

Fat : (49-89) 9IA 877 


AMSTERDAM 


BUDAPEST if 


NAPLEfiT 




nese.” Ishioka said Mlshima’s wid- 
ow, along with Japanese journal- 
ists. movie directors and rightists: 
bad worked to prevent the film's 
being shown in Japan. “At the time 
I felt ridiculous, l felt Japanese 
people were dead.” 

Fortunately, Ishioka’s rebellion 
against her homeland coincided 
with the release of “Eiko by Eiko,” 
a collection of her works as a 
graphic designer. The book, pub- 
lished in En glis h and Japanese, ex- 
tended her reputation to America 
and Europe. 

It showcased her best creations, 
including campaigns for the de- 


I N a way, though, what 
Ishioka delivered was Kabu- 
ki, where, as Coppola de- 
scribes, “Each element 
comes forth to tefl the part of the 
story rhfli it is best suited to teU.” 

In “Dracula," development of 
the characters is reflected in the 
costumes, which turn from inno- 
cent to evil as the story progresses. 

Ishioka's work had won critical 
acclaim even before “Dracula.” 
She received a Grammy for the best 
album design for Davis's 1987 
record “Tutu.” 

In 1988, her scenic and costume 
design for “M. Butterfly” at the 
Eugene O'Neill Theatre in New 
York also won several awards. 

After receiving the Oscar, she got 
invitations to work in four Holly- 
wood productions but turned them 
all down. 

“They were all similar and very 


1 02 3 wrc nerved VThtslati Church ili, 
Alexander of Yuchiflana, Marin to Dietrich and manti others. 
/lit of March 13th dt i rill he your turn. 



HOTEL 

“FLAMENCO 




Grew Views. Superb Hold, 
Private Canal Boat service 
An Amsieniam (iBuruiioa 



ApolloJaan 138 

1077 BG Amsterdam. Netherlands 
Tel: (31-201 678 0780 
Fax: 131-31) M2 6688 


348 Room, £ Junior Suite* 
wilh Bath. AC. minihar. TV 
ResuuranLv. Bers. Room Service 
Laundry. Busmcv. Service. Garage 
Pool & Sauna 
Tr. Ve/d r u.7 

H- 1 1 13 Budapest XI. Hungary 
Tel: (36- II 161 2250 
Fax: (36-1) 165 8007 


& 


Simply the Best Hotel in Glasgow 
AO Facilities Imaginable 
Including an indoor Pool & Health Club 
I William Sired 
Glasgow G38HT, U.K. 

Tel : (44-4 1 j 204 SS5S 
Fax : 144-411 204 5004 


NAPOLI 

298 Rooms and 32 sines 
Conference and Meeting Facilities 
Sauna, Gym and Whirlpool 
2 Restaurants 
Isola E/6 

80(43 Naples. Italy 
Tet : (39-8ti 554 7139 
Fax : (39-81) 554 K478 


ATHENS 


CRANS MONTANA 


HAMBURG 


PARIS 



STEIGENBERGER 


HOTEL 

GRANDE BRETAGNE 
The Best Hotel m Greece 


Xoupmmjt <u ManJi 1 5th. 


Constitution Square 
105 63 Athens. Greece 


105 63 Athens. Greece 
Tel: 130-1)323 0251 
Fax: (30-1 1 322 SUM 


HOTEL DU GOLF 

et des Sporti 

The Best H«el in the Alps 
Grea) SLi & GoH Packages 

CH-3963 Crans Montana. Switzerland 
Tel: (41-27)414 242 
Fox: (41-27) 419 758 


Downtown Location. Close to Shopping 
Arcades. Stock Exchange and City Hall 
222 Rooms and 12 Suites. 
Conference and Mediae Faculties. 

3 Restaurants. 2 Bars 

HeiheeitcetstbrOcke 4 
D-2D459 Hamburg 
Tel: (49-10)36 SOW 
Fax : (49-401 3b SO h7 77 


Saint James Paris 


A Grcai Chateau Hotel 
Very Prestigious 
Magnificent Library 
Gym. Excellent Restaurant 

5 Place ChurtceJier Adenauer 
751 16 Paris. France 
Tel: i33-J>4704 292V 
Fax: t33-l)4553006l 


partmOTl store Parco that featured superficuti work by wople who 
Faye Dunaway and Dominique don i imdasrand my deep con^ 
Sanda, as well as Japanese postere die said. “They thought I could 
for Coonoia’s "Apocalypse Now” design costumes for horror ot ghost 

record album of Miles Davts s mu- dntafe ^ lr ^ff ^ ^ 
sic. The book also included posters labeled. I always want them not lo 
for Issey Miyake's fashion shows undemand who Eiko is. 

Sd Stage desighs for Japanese She bk« to confiise even her 
seaweed^ friends, refu&mg to disclose her age 



BRUSSELS 


FRANKFURT 


LONDON 


VIENNA 


c^NCElc^llES 


ilr i/ Manh 13th. the Prince de CoSes is hath b< Us aripinal sf/kndar. 
During -/ ntiwr/r* nnuiduii, each <uvu of firs luxurious hotel built in 102$, 
has hcca entirely mlmil bti experts. (Ti.’ uriB continue to provide the best serrtee 
and eimifort £r our guests. aJrilst maintaining the specific • harm if the JO's. 

Fur itdditianol information and (or resamatrona. esJi .>3/ 47 23 SP I /- 


275 AC Deluxe Ronmv/Suitev 
‘4 Seasons' Restaurant. 2 Bars & Nigh) club 
Fitness Cub, Conference rowra. Parking 
5 rue DuuueMwy 
I0IK1 Brussels. Belgium 
Tel: (32-21 51 1 4215 


STEIGENBERGER 

(KACkfiriTER HO) 


Fax: (32-21 51 1 6MH 

A iwtahr* o ( 


The Most Famous Hotel in Frankfurt 
Katsciplau 

EW03I I Frankfurt Germany 


^nttf^sdm^bxedscitbdW^irf 


D-C031 1 Frankfurt Getma 
Tel: (49^121502 
Fax: 149-691215 900 


Five star hotel 

Loaned in fashionabli: Knightshridgc 
dose to Hotrods 
Friendly multi-lingual staff 
Spacious bright moms 
If)] Kniehtsbridee 
London. SW1X7RN.U.K. 

Tel : 144-71 1235 MJfiU 
Fax : (44-7 1 j 235 823 1 


Central Ciiv Location 
City Ail Terminal 
Business Services ind. ; 
Notebook. Pager. Mobil phone 
Am Sudlpark 
A- 1030 Vienna. Austria 
Tel: 14.3- 1 1 717 000 
Fax: (43-1) 713 0243 


c VI 1 1NG om: forkicn country 

I ROM A NOTH HR IS NO 


Whether you're nying to reach another counny ovetseas, or call had 10 the U^., Sprint Express’ 1 can help. Just dial the access code of the oountry you're in to reaefi an Ei^isb-speaking Sprint (^jeraicn: \bu don't even have to be a Sprint 
cusfoniei: All vou need is a U-S. kxad caUiag card or WbridThnelcr R5NCARD?” If you’re cafliag the U^.. you can even call coOecL But next time you call, use Sprini Express. It can make fordgn countries seem a Ihtle less £Dteign. 

. » .. i « i 



American Samoa 
o Antigua 
Argentina 


Australia 
+ Austria 


ABarbufo 


Belize (Hotel! 


6334000 

SO 

001-800-777-1111 

WB-55UK) 

0014-881-877 

02W034H4 

Mowawni 

140M77-8000 

078-11-00)4 

556 


CUk 0040317 

/+Chna 10843 

Colomin-EogEsh 980-13-0010 

ColottibohSpnadi 980-B4HJ0 

+CoaaRica 1W 

+ICypras 080-900-01 

+ Czech fepobBc mumi 

+Deomark 8001-087 7 

ADcrmdcai KfpohBc 1-800-751-7877 


VV I I H 


I H i: s I s 1 M P I K A c c i: s s 


CODES 


Belize impvpieMvi *4 
/Bemuda 1-800-623-0877 
Bctora ' 0800-3333 


Bcdirta ' 0800-3333 

Brazil 0004)016 

A British Vit^nbL 1-800-877-8000 


ooOmbHbinMM 22W 
-Canada M00-877-80O0 


Ecuador 
+E1 Salvador 

+Fmlmd 

+Fbb« 
+4Genaany 
+ Greece 
+ Guatemala 
▲Honduras 
Hong Kong 


171 

191 

9800-14)284 

1940087 

mm 

flffi-OOUU 

195 

001-800-1212000 

800-1877 


▲Hong Kong 

+/flaagay 

+huSa 

Indonesia 

■i-lKtond 

+ Israel 

+itd(j r 

+Japan 

4-Japan 

/Kenya 

44Kwea 

$ Korea 

TKorea 

+Kcrea 

Xmndt 

tUeckerttfetn 

/XithtaBB 

Loxeaibourg 


on 

0048004)1-877 

000437 

0080145 

1-800-55-2001 

177-102.2727 

172-1877 

0039-131 

0066455^77 

0800-12 

009-16 

550-2U5S 

550-FONE 

0039-0 

800-777 

155-9777 

84197 

mm 


o Macao 
Tillflbrjria 
Mezko 
+ Monaco 
-HHedierbiKb 


95-800-877^000 

1940687 

06402^ 


+Netberlmds Antilles 001-000-745-1111 
New Zealand 000-999 

Nkaaagn 02-161 


+Non»aj 05042-877 

I Panama 115 

Ao Paraguay 008-12-800 

/Peru 196 

Pfaffippoes US-01 

(Eftlnthnsody] 

/PUjpptaes 102-611 


+ Poland 0010-485-0® 

+Portsg*J 050174-577 

-Puerto Kco 1-8004774000 

+nRot«BBfl W-800-0877 

+nRastia 84)95455-6133 

+ Russia [Moscow} 1554133 

+ Sanaa 2354033 

■{-firman and Rod 1-2354U33 
+ Shi Marino 172-B77 

Saudi Arabia 1800-15 

+Sii»apOTe 8000-177-177 

✓ +&wjh Africa 0-800-9941061 


o Trinidad 4 Totego 11 
tTittfaj 00800-14477 

TfatedArabEmhAs 800-131 


-USA 


1-800-8778000 


Spain 

AStLuria 
+ Sweden 

+S«tafltaad 
O Taiwan 
/Thailand 


900-99-0013 

187 

020-7994)11 

65-9777 

0080-144)877 

001-999-13-877 


®° Uruguay 
f^tdcanOty 
Veiteznela-Engtish 
Vbezuela-Spanisfa 


000417 

172-1877 

800-1111-0 

800-1111-1 


Cohan nancliont arty Km cauvry to oxntry caltag h maMaUe LfitogsOiaa tecna^Fori^WICB^ Sari Accra Nmtw of the ourtiy you® cv or ■ t h»US Mfl Amlai 

eou«(vBia)uiwyia»iflanW>% MSns only Use ClcBtfC^^ tor second lone ohqnes may nm*e con orMWftwaabteamestphones 

•Eramtrttmnwu'iMpwsw^cot^ , --Ins^eimErt.Bw)(xSop«^tocotx»awulo^5orWOt»raw ♦•Fmow 

DltoMtDiahn3Sl»A^IWl0fle.tnen(W^ JAttalabteminJtefypiWBStWv c/WaD6Ctofrcni defied Phones torn santwn ooriBn vti nLa^DonflSsaxsdw^rsmeyBjxity 


Sprint 

Be there now. 






r 




Page 


NYSE 

Monday's Closing 

Tables include the nationwide prices up to 
the dosing on Wan Street and do not reflect 
late trades elsewhere. Via The Associated Press 

13 Month STS 

HWhLPwSx* Ov YMFE MBs High Low Late, PYge 


12 Monti 
Hsnuw Stock 


9s 


Pv HO H= 1 00s Utah Lon Late st Qi'or 


1 2 Monti 
tsotitowaocfc 


JB 


KHb_ 

lips? 

ux 

kk 


H B 'S ift IS z£ 
k - a 1 iw i|S 

8 S: 1 .f Hd .R h =? 

- is .» is - 
IS tf S *S& lift SB 53 


fl f, .IS 

id u „ n 

^ i 3 tlvoft 
Ji = = J 


Ofa YM PE 1 00s mow LOvrt-nwaOi'BB 

MB 4I'S 411* 4314 — H 

P r| is ts 

scs <1 ~ h3 - v 

al ff -3 

-A 


13% 111% —ft 

'ft 'ift =3 


& ^ 


fe £ 

£ £ *£3 

17% 17% -1% 

hi 


!£ 


£ft =? 
«J% 
s» 

E. 


in | 

ii 3 ■ 


ll 


f3 724 fi% 

Bif £ 

it a »% 


i|i 
ssEi 

i 




% am j 


i.so 2.1 * 15 


11-6 

p=f 

*** *1 


5% js 3 i 

,fc ifSgS* 

Ash lk Sfeift 
a S^Ain"* 

Lift 52533* 

15% 13* AMunMn 


«H —'4 
9*4 —14 
25% 


l&Sc 'ft 


| B r iffl ft 

* “ flnl« a 

, j fl 1 1 
y i 5iffi H d as 

_ _ £/ 4414 43*4 

vi 6 4.0 n acn iw an 

4 il =1 l“js 

£ l J 


hi 

40 - n 

15 = S 

42 128 

_ 417 I OH lavs 

H 8 1 1 * 

t.13 ii ' ifi lj !m 13% ~<4 
40 U IS lOiffll 53V. S1H S3H *1 
las 9,o _ p is* is is —vs 
9 3 _ 1M 18% 14% I4H 



1? Month 
mtfl LOW S lock 

SSSftj 

bb 


8% 14* H a nno n 


9s 

on Yld PE 100S Hah LowLcSefl OVge 


. „ I* 


,| a 

, £ 
.teift 
B’-ua 

1514 9 


5 B S 1 
afl a 


J " ff a-’*S JK! i«i iirt -H 

4 R # SI 3S |S 

58 a a K ^ - a 

,Bb ^ a 5K S« Bh -S 

,flSi»*i»Faassi ,! =3 

“ 8 M I ■ P 

I- E ^ “h 

Pf=S 


12 Month 
Hgh LwnBOCfc 

aa ilftagsas 

1714 SHMoamC 

Svi SlHMoonrto 
jp*l 


55 


14HI 
73. I 


ii»niia in 

iHH 


W PE 100s Hah mwLa tedQi'9e 

s* m g* -g 

|P||| 
^ si 

1 1 IS 

jfe II 
* s ll : 


3JH »H — 1 «n 


Sh S 

1 B 


X u fj 

n ifl « 



=S 


si !Sh =? 

OH 1014 
__ 3DH —' 
% ** 

£ 


1J5 9 3 - 194 m 14H 141 

1 To 5.1 _ 191 14 13H 14 

1J2 2J l| 15377 J3H 5|v* S3 


IljMSSSSn 

kAmtma 
j Arnriais 

liSSK 
55SSS. 

■Aim 
lAmreo 

is JSSj. 

■ AmWVAi 


j ,s 22 

u» u ii ® 
.lie 3 “ 

1^7 4.7 IS 4111 

H = *3 

5J0 4J) ii BISS 

Ihvs 


fill li 


27H C 

8&I 

25 1 -. Sh! 

^SKhSB^ 

%d!SS 

jfi Sw^sa 

gaiHiae 

77H 75<4SaoofM 


i8 R no 34 Vj 34 34'4 — W 49 41 Ear XB 

SlijEK&s .1 s 2Sg? di 

4.9 II »> 2W4 m — H 19'4 1714 PO&Sr _ 

H 14 Ja Ml4 3M MH _ 23 FoqStrn IJ0 

* 214 13H HH IJH - 4H 


214 13 

17 2B 
n WH 

is £* 


las 

93 

791 


■ 3 s .< 
IS =§ 

S3 S* S 

30 29H Sn — H 

jk fS iS 
p £ is i? 
S!?aS!£?^-S 

» 2fy* 

A'4 


414 tu 

2LSi 


« M *3 


If IIS 

^ Ss _ 

If .Itt His -« 

,a ^ P 11 3 

* h Is i :S 

J14 4014 4fl 4DH — H 

i b n s 8^ 


23 30 17 I4> 14H — H 

^ “4 SS ^SK f =S 

***“ “A sS 2 I5 

* ? ’i u*f] u 8 

71 H 

sa 




as 


n.V8 ^ 


M 1953 1DH 

* iBS S* 
s ii .i« JiS 

35 S5 




10% T V% 


assLi, 


7TV ~ «>04 73*4 2314 3aS + <5 

8 ?ll 


74*4 24141 
74*4 24HC 

r* 17HC 


u » 


V| 


« a is 3 in 

TjOO 74 _ ID HH 

3.13 i9 .- 11 3*4 

KM S3 „ 51 47H 

JB 1.1 3? 2248 24H 

rl j i I ^ 

_ _ a»7 15V. 

3fi S 


Ei 


¥ ?i 


iff If r' 2 ?-- 

j }i * i«) ^ 
rj _ h jg* 

110 42 2 j aS! 

4J0 TO 5 50 V. __ 

147 7.1 _, I 5114 S1J4 SfH - 

IJO 2J S 103* 35H 5*34 SJJ4 — V, 

_ Tj 1144 4144 41H 4J3J 
Jt a5 if <8 ii JE! t> 

« 15 fi * 


=s 


tS 


if SS S* tS 

as 36 -s 

12Hd 11H ij 

iS ® sa =f 

ia fes 


=5 


31 J* in AtMM 

HSiSsass^ 

ajJSSHA^HZ' 
13% 11% i 
!!% 


ffl* |/*IW 

zr% U_Va AV 

8 #?*® 


~ fi in 
i® 


hu a*. 

fi *« 

S7 Z3H 

g ?§ss 

IS I2H 


SfJSf zf 

«9i 8 V. — 




— _ a J M9 

.17. 3 “^R SS 

^4 7J I? *7 Wi 

ais ; J 3s 

.JO 1J » Mu 45 

IJO 12 17 3ca 57W 

= U -iK wss 


In 

uaisl 

5514 4M4( 

Piii 


MSggi 

4414 Bh( 

lifc 

41 « 


174 02 _ 10 31 9 

« » : ’» g 

129 7J _ 1294 244 

w T i ■» aff 1 

J 19 54 111 

f If 

MB § : 1 

j a = i 

i aiJ 

’51 H ,S^ 


m 7Jt - ? 

3 ^ a = s 

XflO VO _ 1U 

Bar*® 

JM l.l 9 Z! 


34V« —Vi 

srtHttrS: 
_£ 


r ^ s« 


IM k - 

?4mSpw 2.11. 


ASc 4J _ B* urn 

1J*» 5 W 18 MY, 

7J0 8.9 _ 2700 53 Vi 

■I 8 s s is 

24 M 10 40 17VJ 

_ _ IS JW8 14H 

a ll Sl»J5 42 
3 _ Wrfu JMW 

.15. i 1 Si wt 

.940 4J _ 171 19 

a i J ss 

I s e i ,m s s 
IH = 1 

AM 1.7 _ ll 
_ 22 74 

„ _ 10 1434 

.12 3 25tzm 

m a n US 

i\\ a z 

« H if 

M IS 


Lj 

l*| 


P; 


i« \i 

i3 a ii 


* ^ ifi 


IJ 


2354 24 


14*. 14 

£ n 


n 

29H 79*4 *H 


33 ^4 274 

7.0 _ 


s a 3 J 

.17 J 2? 714 


1 


a ® ’ss 

*3 ™ jfiff 

1 JO a t SI 

■Jl 3 « 2 

ljjj iT ii m 
S i ii im 
3J 12 4ig 


13 


fl 


494 . 

10H 10 

» ??i4 iA 


ufl 


39*4 n . 

a. Si 




fcIHS 


7J44 1u -. 30 

1 %ri 


33 1 ? .is as 

1 £ 


a - ™ 

J7J6 17iS ♦« 
19H 19Vi — <4 

14 M *H 

,»S«Y-SS 
W* ??S *H 


Pilg^ 

u i J in 


g r 
SS HtS §5 =8 

1SH 15H — V. 

Basa-is 


i 


Si 


. jfl 3J it 1377 24% 

aS § = '? s% 

SJ1? U _ 11520 94 

83S 


3114 241*4 ( 

khS ? 

rft 

sm 5 

JS 1744 

M 

Rasa 


ran m% 

i ms 


_ 545 




48% 54 

3* i 
&£” 
g^if 
fflSI? 

ex 


« 


a a = 

vn Uo xa 9 

eJll a = 

S a = 

Esssfe is a i is 
1#«: ,15 
ia a -9 isa 

its a * V»; 

.a r & 

2.72 111 - 5*5 


I 

m 

as /j 3 $3» 93% 

as p -*a is* Brews 

2.72 *J IS 144 43% 43% 43% — % 

J1« .1 „ 1B7* n% p 17% »% 

J2 o'°? % L Sft _c 

; a!j*p« 3 T 

ui u , in * “■ -* 

y ® s 

Id U U 70 

l.<* a 14 80 

ljo 23 17 3 m 

J « n‘I ^ P jj£=* 

s« 7J ^ ZT? «£U »J4 S -1 


tlSAf 

■■ 23%, 
70% 48% I 

meMH 


t'km 

sag'- 

41% j|v 


Sftp, 

PSi_ 


-<s 


iS 


3 s ^=ft 

s »3ft** , s 

43% 42% * W 

y% 

ZI'A 2Th — % 

iS?aiaj* =ft 


fS2 .. .- 

11*4 11% 11% — % 

m m-C 


3? 5 37^ ^5^4 

49% 48% 48% — % 

9 8% IH — % 

40% 4BH 40% — % 

$ M -s 


B . n, io 

- g» j 

,3 » € 

S 243 1370 __ 

- JJ* 30.% 77% 29% — % 

•U - 177 fg% 25% M% — % 

.7 - 258 40V, 39% 39JV — % 

- - TB 39 Vj 39% 39% — % 

fl - 301 an So 20% -% 

« -i J i* *?£ is “■* 

ts ,$ i 1* h w; -J 

: S “8 K 


1%, n»a I%| 


34 ll n «, 


31% 


:ffia 



» jii S g _75] 43% 5ji E% —% 


JS is 


s 

72% 43% 


Ingot* 

if 

BarnfplA 
ptC 

BatiMr 

isr 


^ H i £ IS 

IjHl 


2ft lift -5 
iasaift 

fe * a 

5% sft _c 

89% 89% — % 

® 5B-* 


»L . 

13% 7%t 

'ffiS 
i3 Jj5i 


{f 8*1 

24% 11 


21 931 

21 TOM .... „ . ._ _ 

« >? = 1 £ 

:S 

_ 27 7183 11% ' 

a e J 

“ oSS“ 

2 4503 


*rc Hft *s 
i?a m: -* 
r « 


Pi 
■Pis! 

7% %( 


Id 13 94 ,3% 

ai ”18 IB 


IS « r 


“ TB 


S3W 

MIN 

gft 


S fi ? 1 


£ 


ff! 


if* 1. 

5ft be 
§*g* 

25% 19% 


sa m 

g£-£ffi “ .S b ^ 

»- ;*?#§* is .. 

p 3 !i S % 

£3 S.I IS 3848 57% B S7% _ 

"38 fl § *£ w “ 

■* g « J 

» r *'«5 


j; fl ii tS »ii 

S I? J| « !? * 

ifl .a il .. 

s g * R 8 

Jl. 5l 14 71 13 


ft 

ii j 

$S2ft=ft 

.. g. -« 

W% m 23% — 1. 

OH 19% 10% -j* 
14% 14% 14% — % 

r 

-n. R 171% _ 

/S Hft Hft -5 

p p ^ 

!i 13% — <4 
13% U *% 

**% tK ->% 

s 85 3 


iP 


gft =ft 

fl g is ift B IS -* 

z”M rr%fl ift IKS =ft 

J4. u -1015 u% 12% 14% — % 

.aalllgg ss sft -* 

UO 4.1 _ .1 48 U 40% 48%— 3fi 

.US M _ .130 17 17 17 _ 

, - ,, ° « z 's„ k* aa lift :g 

* ^ .5 % % % ia 

- - 14 13V. 13% 13% — % 

,JM S 17 44 4 % 4% 4% +% 

's^Issrsaassift 

-a-g« J 1 SB4 

2 J 0. 101 _ :fi s% sS “* 

^ SilM iBSiB* -S 
Jifi p “ S *ft flft flft -* 

J2 £3 fK 57 14% 14% 14% 

;s a Si£ L i» 

H B =2 £ I* 

*l a fiH&aSft Sft 

us aj - rw sa% 57% 

fl S fi *S ^Sft ^ 

15 a n ill? tSS 37 jf« ^1; 

- g 01 28% 27% — % 

_ - 5?? 1». 18% 18% _ 

_»% ,4 • —A 




■N /3VN 



LT 


fl 


lift I 


*!% 12.. 
■,?! tS! 


Jt 1.1 SI 

“gn«* 

2.04 827 — 

^ f-i 2 


of -ft igz| 


dE 


?sa 


a 


wa’j 


ift d £ ii -« 




558 


SEP"* 


73 ff 1 

7i«’ ? 
'SS jl 1 

23 12 14 





ipP^ 

^ e! PS 

“sail »*3 




44% 47% — % 
25% 35% — % 
d 8% KV> — % 


1J 118 

fl ?J ~ M 8H n£ sit _ 
_.. „ _. 8S“> M% 14% 14% — % 

I? ’SB5-aFsrifi‘3 



rtf 




2400 10 
n jn. 2 
1M a 


3 i n 
- « .as 




II Bft 3 

i*Va 

M £ ^ _s 

% f f : 
J*3f -« 


;feft 


wniwi 


«8 fl: 

’«S: 




26% E5 

Ife 


15 i| 

15% 17 
15% 13 

'ft f 

0^ S-. 

}S 

ftii 

5% 12 

1% 7%Munrr 

iiSr 


a? « 

iil 

7.9 _ 5© 
4.1 fP 

ti z m 


ibsi> 
aoij 109% 10 


17% 12% — % 


a% 


Bftl ft 
]2% 


tftSS^ n n S 

P^3 

31*1 


JW rJ hi 

& tt Z 
.B « - 


13% 

lift 

14% 


Bf 

r * r " 


8 3? 

a j : 


14% 14% MkJrtno 

Inftffirtfflm 

I4%MMHU 
13H7UVJMY7 

IB 

IftJSS®' 

_> Munm 
T7H Murau 





S E ,r 3i 


,4ft %S^e 

if* P3 

4% 6% +% 

fel_g 

34% 34% ‘% 

k 

= 

sa s* 3 

i r_« 

if ** 


*»% »i 

34ft 
27% IT 

iP 

“•aai* 


sa 12 . 

80% 51%t 

3%^i 


2 8 ; J fl. 

J?« U _ - — 

flg if = 

3S « = 

IJD 10 | 

1 3 1’H 

JISic 

« _ 171 

;i s h ii s?s 

J 23 a 5 jf £ 
ii S 12 S Sft 

*fl If a to 

Uj g ? fe 

228 7J IS 
213 82-100 

J2 33 9 isn 

4 ® ,fl = - 


gft 

mm 


IP 

kr { 


f pt 200 SJ 


mm ti 


g « 1 is % 

, 1 % 11 % n 


s 


Ja ij%i 
g&iiJ 

v\ 


1 9 

J2 23 


z-H 3.» 

«,S 


3 


sf 


MBS. 


I&, 


'f 


=f 


Hft 




-Jfeo — ^ 


3ff 


15. 

Vfl U r 

fs a ii 


fft 


ft Sm. « -a 

S S% 24% — U 
* 14% 14% *(5 

t 7% 7K - 

H -V* 

3 
— » 

h 18% IMS — S 

: ga pdi 
' BftS *-« 


Ift Hi 

7We WVi W 

7 4% 7 

is sfti 



jgj 

llfi 1G 

ft 


M 3 ?T4 

fill 1 

n & i % 

200 4J j3 :cl 
2U 73 II 19?! 

# a a 3 

if » j 

ia ii ja 47 


. _ ... _ 1007 

J9n 87 _ 528 

ft H - iSS u , 

tjla 73) _ 124 14 


3 


33 


*s a fl 


SftiEHt 

IB* " 


. _ 7HK 

iftWft! 


J3 


p 

« pi KB' “ s - ft 

._ _ .— -., .7% 0% *% 19% mMofnM JO IJ 19 1 

^ K gS IS =a '•« 73 « i 

JsfJi^SftSSTS JgjjgMT 


“ g 5 ® 


‘SSS" 1 


i s = 

1.14 23 4g 
- -- IS 


3J 


a ssi 


114 

ii?Eg 

i i ei 


-»* ,s a ,r_T* 
Sft fft gft -ft 

24 25% 75% — % 


& 
|Sv 


8. 


g 1 * sa s% =s 

g% 3J% g% -% 
42% Ch S% • % 


JO 10 Tl 1875 57% 

’ s |gJP 

■" 3 “ m *s fie s* 


,i 


^ :r 


ii 


18% , ins Irtv —A 

^“RltlfU -iff 

a% 0% 8H ♦% 

44% 65% 46% >1% 

19% 19% 17% _ 

2I}’. 21% 21% — C 

53% 53% By, — % 

r U* 

■S ^ 0% aft -* 

, 0 4 76 4 ??ft na n* 

. 39 77 t% t% 6H • Hi 

tS !4 *• nas 33% 33H 31% — % 

i| $ fl {r Si *'-* *- «*• ->• 


ifl |3 r *‘,S 

2 eft* 


13 


9% *9% 

8%d 5% 


S H L !4 . . . . 

ft J : 'S '.tt a ifft lift rft 

71 88 _ 718 7% 7% 7% 


>S£3.n 


W _ 178 14% 14% 14% — % 

JO g - Is a - ft l}g -* 

£ H r. 'ffi ilS Jft ,1ft -S 

1T3 10-5 _ 7J9 10% 10% 10% 

AM,. 1881 ■% 8% 8% - 

.JO fj _ 1854 V%d 8% 7 

I Mr 1 0 - 80 16% 16% 14% • % 


"rillS f 

1 Danner 

1 r 

8*4 
«W - 

...jTftf 
SftSftl 

7% 8% E 
90% J7rt( 

iBfcl 

61% SlVDcttnAIr 

iy, VDoHona 
7H 30% EHknm 
IBHDaMMn 


- — 5 


1% 1% 1% _ 
D'4 701% 701% — tS 

j 3 314% if4t — •* 
KM 10 10 —•«» 


S£ 

!£ 

- 14% 

'.ffc'ft 
lift 


1 B E 3 1% ! sa 
a g ^ 58 8 

14 - 2W 114(1 1IH im _ 

K 3 _ Sf lft AS lift — c 

: B j jfjjt ]9 * 

i3 " 


. — 1 3% 

-193 8% 

»U 47% 

S sa 


lift ift ^ 

6^ SW T3 


.18 


„ - a K sa fft ffft nft 
iJ| 4 8 TTfi Sft Sft -» 

j| .j a 1171 40 38% « ns 

-- SsSa 


15% 13% 

■K'jv. 
— 37% 


£6 . ... .... 

14 To 3048 34 B% 

§J - 1464 8% 8% 

|3 30 2499 89% 88% 

73 



ll:| f .rv 9 

- - *55 n 4% 4% ♦« 

_ _ 208 7% m n .<! 

1J1 llT _ rHtd 12% 17% — % 


'IS: _. 

lift il 
8% 


« iS 

IJO 33 « W 


14% 13% 13% — % 

730 21% MH 71% — % 


'fl M z .. .. 

** 8 ”S £ 

- .! MO I4H 


1J4 


2M {3 1 nia ^7% ct SS ms -L% 

748 7* - 140 M 91 Op 


IS 


=. 


KooPO 


7J - In 34% 
40 A I7?u 77% 

lT s ss » 


Mfi M'b 

14 il MU 

§ft i w -* 


pa PltGrnHHl 
3S fiV, HIATPr 
04 64% gn.tQi | 

43% Sl|bd 

mhW 

■■ 13Vb d 

am 

LLJ fc as5r , 


"1 % '?% _% 
J*n 3BU 3V —•* 

S% 2ft Sft J-S 

i3?5 n% tin »*S 

*<% 43% 4M < H 

71% 20% 21% •% 

SH » .% 

67% 66% *7% • % 
“ ”% 


'J g . . 

% »>» 3,' flft SiS p t% 

JS 5 20 1282 77% 78% fr% «% 


*4 


H “ »*S «% _ 

w - ilg R ^ 


_ _. 10 % — 1 . 
17% 17% 17% — % 

gft s 

!T> l*% — H 


§ H S eS 3ft 3ft » r: . 
lUI 2 lft lft 1ft =£ 
= - ® *a ’i “ 

•* « ; "ss ift 


.40 2.1 18 141 18% IBVi 18% 


Ii — % 

[ft Jft lft 

% SH— 2% 
.. d »% 94 — Ita 

^ Sft Bw-ig 

23% 24 — % 


as 


ttfSt 

Ssu 


if 


* ! 


i*a 

3ft Eat 


*?I jl| 

Jn ' i I ^ 8**^ 

1« M fl .114 33% 27% a —I 


59H 

10% _ 

1% "oft “ft 
! - i as -G 




■i 45% NfOM 

IfeB 

§:|l 

I 74% H 


io3 ' 

40 13 

si 


15 


17 17H *A 

44% 88% — % 

si; as + * 

|p 


__ 3ft Ttt 
I? ng *{; 

34% 3r<4i *i 
21% 21% 


if 

%i4 


387 7% * 9% — > 

MB 44% 83% 44 . — > 
258 14 IMi 14 — 

11 77 71! D 21 H ilH —I 

6.9 — 1/ 75 25 35 — j 

— 14 73 10% id Tflu. *1 

9J _ 78 1 

33 14 SO | 

— Zr^ 11 ^ 

ig =3w ^2 $ 

. " ii f ^ ™ * 5 

;A» ffi B = as Sft -« 

— 17 135 V9 ( 8 — H 


TH Ifl* 

s: M *S 


m fl 5 zmI 

73 - 3S 
IJ fl 713 


ft 


y u I 

.717 

'J l 

Ml & =! 

4.10 CO _ I 


54% n% 




77H a% *H 


^ g - 1 ,p 

4 ?§!$ 

IJH 7.9 II ng tog 

£ d ft 'I £ 

aisS 7J 13 S lift 


12J - 


f'S = 

Will 


_ 17! 21% 
IDS 1SH 
4M 77. 




.IS 


- 10 »4 S% 

KO 14 B » . 

- - 113* 17*8 

93 _ .67 1018 

A — 118 18% 


27 Si. 

3ft ! ft 
r f -* 
SftS:_(s 

8% 8% — % 
^ 31% — % 

3 h - 

BH 


®=# 

r?sf 
”a ,r - 


ig S ’Z “S SK 

® %s 

.24 U la 629 77% 

.AS « Ii J ^ 
'& S 2 =€“ g 

S £? fl 93? 2% 

*fl H = 1«8 - B - 
- 81 
IJO 17 


37% 1__ . 

17% 9%( 

3-W 

jhjuiL 

^*7 gw*? pt 

1 e* 

26% py 

s® 

sou i 

1JH 

%5S»1 


S' lift i _ 

m% on *0*0 


'3 S S 7S} S3 aft 

iH|5* 

siB «J 1 ^ iL Bg 

!S sS 

J» 3 M ffi * St 

.& fl »t ,& aa jr® 

_ 37 5131 V7> l7% 

3 ,2 S £ 

— 19 207 *1% 21 

il B z ! f 

UD 11.1 I ,9 i 

ja h ^ *s 

JO 3l1 13 247 
.14 J 348 31 

"S Jf 


3Z H-* 

J0% 31% 
34% 34% 


ft 1ft 


34% 34*6 +* 

83 *g 
,,. a , jffi 1 1 n 

'!i , ' & .. S5 7% 7% 7% - 

■40 2J 12 1147 58 5S% 54 +6 

■ iN 


44 ,2 88 

JO 1.1 17 




ft 7H — M 
is* is% TS 
4% J — 


2—1. 


3a 

4907 44V. 


90% S% — % 

sags: 


J4 _ - 




lft 


’ft 


,J S S ® 'f 

1 3,11 

■a»;J 

4 sll 

■a “-III?! •; 

i« s * ^ 

*“ »8iB 


I s 1 B ES 
2 sS =g 

% 41% 41H — H 


« 25V. Lore* 1 _ It 1T4* « 39% 3«% — 

3“®™- IJO s 3 s% u 

«.. MLOW.. _J4 VI ,7 4118 40. jay, 38% —I' 


IftTSft 

B% SM* 

34% 30% 

saiaBH 


.. _-ji| 

sfl5 i 3i ,k fei s Tl|is% 

is a i s* Sb |% =a I ja 

.» llx iS Vt sS 22 % —A . -£ 

] I 1 »> 


9%MCR 

mm 


1J84 [3 ID 4 in? 
- 

1J4 SO >6 90 

3 m - Si 


CAB 

££ssstfi- s *! a # »% I? 

47%J*%MWy» - - 917 37% 31 1 

iiftlS^Kln = -i 21 loft || 

18% 13% 


31% —A 
9% ~% 

_ K fit *5 

•n s% 

9% *% _ 

7% 


ft! 


lft Ml 


^ ^«-gr=s 

iBilrCfcl 

s y = itt'CR-* 

il=iSC B -= 


? g e a 

4 a E 1 

ifi a = J 

,s 1 : a 

4 H E '$ ! 


30% 1 - 
I 40% < 

> IS j 

JMJ iff 
20 % 10 % • 


,d 

s 


„ 12% 
8: IP 
B : *2 fe 

61 _ 109 11% 

S : | IS 

IS _ in isu 

I s I {f- 
S: 81 

« „ ^ Iw 


E ffl 


*JW - 115 2 

Ml 

ii S *»S ? 
^ j< 4 j 
25 ” 1 ^ I 

? i t * 


1 

?*&> jo »3 3 & f«% 15% uv* Tft 

410 f« n '® ,a m' , 4‘S -rft 

£ S JB P 

-S’® 25% ™ tS *A 

ijh 6 -t '8 b® fa £ 38 

® “ H v C 8 # j* 

iSs" ,-«8 7s 1% pi =S 
V S E a ila P P -a 

-■« 13 7 2223 9% £% 51% —A 


» ia 3 

!& 3§ Tft 

... % ♦% 
1% jj% —v, 

13% 13% — % 
4% i2% — -J 

P fe* =5 

MHr i-ft 

Hi 


95% Nvnoai * 


K ig 3 

:ft iSftzft 
‘ Bftrft 
,- t lift =ft 
% ft ift -lft 

vft BS TS: 

in 8% lau _ 
13% 3% 13% —A 

36% O 35% Jo — % 


17% tf ._ 

'lift 0 lfft 


■ISo A 37 


ft =| 

-, 1" ZS 

■5% if% —ft 

14% 14% — % 


sft s ! ; 

26% 31V 

17% 171 


UH . _, 

-.if 

2ft Sft 

24% 71% 5 

S%,^ r 


17% n 


JV 14% 

ffir 

O 50% • 


if ,7H S 
49% 18% i 


75 17 


£ 


1ft =F 


3 

— 1778 Hi 9% 7% E_ft 

TS -A a iS « JS Tft 

9rffl“aas jt s?%P3 
B! k = *e «% 1 * s -« 

fl S d s% p 4 § 

» » gig 3a fl 3 2 ft-', 

g j IJl £ #•£=! 

-« k * 852 Ht ^ “ft-rS 
=ft 


pS 408 'an “ loft ifft in — v 

nn « H = -.17 SOH 50% SDH - 


<•9 fl 2489 S% 

- 94 89} HA 25% a% — % 

5 h i ]fi ii-I 


,C >Vr-. 


'!■}■ 


ii bj 


^ J fi iSf aft 


9% TV. — H 


A3 l3 


- 7 'ss ^ *ia 
2 8 S h » 


«?.. 


Continued on Page 19 


Wi. 







; : i 
*•.'* • 
J : . ■!'■ V* 

h it 

:i • ti’ !>’ - 
'= : «'•• i; 

■* * ;.: ^ . 

* < ■! .Jl 

■ r‘5- 

: : j' a -‘ 
• s 1-i 
•f ■ £? .S 
•■? ; $ ■£ ;.. 
: .» V- - 

H'Ei 

f?K 
S si: 

i‘-i .is' 

:> lift 

: . " ™ , 
: i : j:|3 !S; 




INTERNATIONAL HERALD TRIBUNE, TUESDAY, MARCH 32, 199+ 


; OC INVESTMENT * SERVICES rt. ip , 

20W52R3 **** S. 

.^S§gK:v,^iM 

:»tesssE=F || 

i* Airenia — I. 

3 1 ?.? H? 10 **S"«1mEHT Ltd 

if A GA«T!^r. Eq Trysi ■ m M u 

w AiG BaicncM wjrid En~j ,«?§£ 
rt« G £ in ecu Fima Plf— J su x»5 
- *'«? =<*■* Small Co Fa Plej ,5!5? 
rfiivEwwfepk. . ■ I3:^s?I 
■v f *& Jawirv F urd JZTZj II1KI 

■» America Fa Pie J JJjhi 

i» A.GMIticurrcrcv Bd Fo Piri iJHS 
FAIG Sauin e 05 » Asia fS_j -25^? 

e MlshLiie Fuim — __ rB — | 

J EiiraOpiunHfr Fund .Ecu ijS 

e KSS - iauh5,! » Fund s ...ft Jlliwf 

rsbtssffijsK^ia gs 
KffaKSr" — j 

,’>3 RjrEail 
K German 

' w r,lnhfli 


Page 11 


j i. CcV:- :■■ t.;.. r ,.. .„j 

■» >?:iuT.C-r f nr. *5 

( »Cc«il<(i f . fT fl 

1 Cc-i-t 

I C AMPBC- .4 Be C M'JOM LTD 
] .vMi'w.iinj'ijrrti.: 


ADVERTISEMENT — 

INTERNATIONAL FUNDS 

Qunl«ik«»« g f^^tanailtrtoa.l*>tw»t«»Bto>qwrt«liww»ai npi^»i< b»l>>»ti ma. B ^ a^lhoo»c«irtiagol»nm l 

Tte syntaota letOcale fcwptMCy <rf quotation* aupgOod: (d) - MffM ■ weekly M - bi-monthly; ff) tartjdghUy (ovary two **•*•]; 


ALPHA FUND MANAGEMENT LTD 

-tss 

m Alpha Furose Fa(Frtai cc 
m Alpha Futures Fd { Feb 28 1 J 
mAipnt Gibi Prp Troa Fct »$ 

.Ti Aiptic Global FatFehsm t 
m Alpha Hedge Fd ir>b ?si % 

m Alpha Jaswi soee ( Feb Ml A 

m Aibiid Latin Amw (Fab 2fl> % 
m Alpha Pacific Fd tFeo 201 J 

m Alpha SAM 

m Alpha Short Fd (Feb 21) 

/n Alptto Shl-T FU lac ( FeOTBlI 
mAWw nuaaie F« (Feb Mi j 
m Aloha MArtninotan l Fee MIS 
m Buctt-Alpho EurHOa Fea a Ecu 
mCwT -Alpha Htth Cr Fnaj 
m CMoaivesi v jive 1 Fee ai _s 
w Hwsei japan Fund v 
in Hemisphere Neutral Fee Ml 

m Lot invest value (Feb at s 

mNlchAppl Aurelia (Feb at * 
mPoeil RiMOpaBVI Mar 09 A 
m Ptaisoen iirt l Fund ( Fes Bl S 
/nSaae inti Fd (FebM). 
m Salus inti Fd (Fee Ml 

ABRAL associates ltd 
w Amtt American Quant f« , 

Arrol Asian Fund 

Arral Inti Hedoe Fund 

BAIL II Pfaco Vendame, 73001 

m Inter mart er Fund 

I Inlerplil Convert Bcb 
( Iraerattt trrtt Bds__ 

r interetH Obit Convemom^s 
■niermartet Muiiicurrenn Fima 
m Class A 
m Class B 

mCtossC 

BANK BRUSSELS LAMBERT «■» iOW 
a BBL Invest America - -=^- 

<f BBL Invest Bdolum. 
a BBL invest Far East 

V 0BL Invest ASkt____ 
e BBL Invest Latin Amor 

<» BBL invest UK 

d BBL Renta Fd Inti 

d Patrimonial 

d PeniO Cosh 5-Hledlum 6EFBF 
j Ft .la Cosh 5-Medfutn DEMOM 
a fie.ru Cash s- ‘Aedtum uso s 
a BBL ju" In. Goldmines 
d BBL (L 1 Invest Eurm 

J BBL (LI l.iv Euro-lmmo 

J BBL (LI Invest Wort d— I F 

BARQUE BELGE ASSET MGMT FUHtT^ 
sucre Dlsfriuufor Guernsey 0481 73MI« 

nr mri Eoultv Fund (Slccv) s 

M Ml Bond Fund (Slcav) s 

V Dolin' lent Bd Fd (SKOvt js 
S terling Soulfv Fd (Slcovl .1 

» Sterling Bo FdiSkiavl. 

»t Asia PsciiK Peston Fa 
UANQUE INDOSUEZ 

me Srviaon Fund Slcav 

japan Gta Fd a ta/w, MU 
m JOnan Gfd Fd B (3^KLT4I_S 
in Dual Futures Fd Cl A Units S 
in Dual Futures Fd Cl C 1/nHs J 
m Maxima Pul. Fd Ser. 1 Cl. as 
. 71 Marine Fur. FdSer. 1 Cl. BS 
m Maximo Fu\ Fd Ser. 3 Cl. C S 
7 i Maxima Fur Fd Ser. 2 Cl. DS 
mlpaosuM Cur r. Cl A UnllB_S 
m mdasuex Curr. Cl B Units 

* iPNA • 3 _ 

6 ISA Aslan Growth Fund 
a ISA Japan Reg. Growth Fd_v 
a ISA Pacific Gold Fund 
a ISA Asian Income Fund 
d mdosuu Korea Fund 
w Shanghai Fund 
iv Himalayan Fund 

Manila Fund 
w Malacca Fund 
wSlom Fund 

d Indosuex Hang Kong Funtf_S 
5 oriental Venture Trust 
d worth American Trust 
a Slrwaa ft Motor Trust 
a podfle Trust. 
d Tasman Fund 
d Japan Fund 
w Managed Trust 
d Japan Warrant Fund 

d World wide Growth Fund 

■v Indosuex High Vld Bd Fd AS 

* mdosuu High rid Bd Fd B 
a Maxi France 

r. Maxi France « FF S3HU7 

BANQUE SCAN Dl NAVE A LUXEMBOURG 
BS5 UNIVERSAL FUND (SICAVT 

0 Eurosec ECU A (Dlv) Ecu UBSSU 

d Eurosec ECU B (Cop) Ecu 

d intebec USD A (Dlv) 1 

J inteisoc USD B (Cop). . J 

d intelbond U5D A (Dlv) % 

d i metbona USD B (Cap) S 


, e Cl CmemM-jrteis Fe’-_ ."r» 

i a C Eu".i« 3 c t.ri Cl 

I 2 jjrrpfs ?uo' V.s twst Fd cj 
CAPITAL :riTCRHA7(ONAL 

I i» Capital ins : f .,;2 S 

•vCdFUai ::o.rj^A . . . _ .4 
CDC INTERNATIONAL 

j wCEP Ciur’ letmt ,FF \ 

1 * GFl Ljnp 'rrmf FF |j 

! CINDAM BRAZIL FUND 

i o Cinssn Ecvtr F«r« S 

a C-Tuam 'xictl Fund .. S 
CITIBANK (LUXEMBOURG) SJL 
•*03 ■J^Lu'.enibourg 71.1.4^95 it 
0 Citmves* G'Sfiai 3tlt n ...( 
d Ci"nvr*t fgp l'Sd. ; 

ff Cil<a«es< F0 e ECU. - Ecu 

a Liiinvr.t Selecto: j 

d Cn.e-jri-.-fKin c»D i 

a Citwrrncir' C'Er.i DM 

a cmemrentrtiCBP : 

a CM .current. er fin .y 

d CniporiNji Eauity S 

d C.ifaKir: Cam Eure Eomr. .Ecu 

i a Liiipon uv c q ..i», f 

j 9 'iliPO'IFrrf.TiEauiii FF 

d CiliPait 6e:mcn Eauitv CM 

o C.rtoort Jcsbr Count r 

j d CillLsri APEC 5 

<3 Citipoit Ecnrr 

I 0 Cllipon NA SEwd i 

| a CBi»ri Euro band, Ecu 

I ?.2i , V* S7rt Cu'rencr fund _S 
j CITIBANK (PARIS) SA 
. » _C.I. MCcoC- Id j l 

cititrust 

wL IS Equllie-. S S 

■rUiSr/^rt-, Market J 1 

nUisecna; j I 

;C.ijia««. i 141 

me t-Derlo-mence mi SA_1 i 

w rhe Earth Fund s I 

| CO MCE Sr (JJ-IJ .4 70 75 10 

wC«T»j«tAua s 

v -flmoeV SF 

CONCEPT FUND 

d wav. siaooi Hedge Fd A 

o viiam mtl Bo heaoe Fd S 

COWEN ASSET MANAOEAtENT 
Cowen Erie r prise Fund N.V. 

iv Class A in-. s 

wCtasiBCh-.. S 

CREDIT AGRICOLE 
INCEKIS 

d ■n3e4.5 I j£ArS&PS0D~ S 

a mde/g. Japgn/NiePtl / 

a tnee.lsG eror/FTSE E 

d mdefiiFrana-CACN) FF 

d inde.isCT FF 

MONAy.iS 

d Cajn Term USD i 

a Coin Terme DE M DM 

d Ceurt TcrmejPY r ; 

d Coon Terme GBP _r 

tt Court Terme FRF FF 

d Ccxjrt Terme ESP Pro 

d Court Terme ECU Ecu 

MOSAIS 

a Aehens mi i D.vcrk.liees FF 

d Artrans Norc-Amencolnn J 
0 ieitcn-. jotanoisn 
d Actions Angiaises „ 
d Actions Aiiemandes 

d Actions Fronecises 
d Actions Esp. ft Pen 

d Actions uaiwms Lit 

d action: Bassln r»ccilRiuc — S 

d Obtig mt l Diverslliees FF 

a ODiig NonhAmericalnes 
a Cblig Jctmnolses 
d Obtig Angiaii»._ 
d Mila Allemendas 
a OHig Franecises. 
d Cbl.c Esc- ft Port. 
d CtiCn Conven. I merit, 
d Court Termp ecu. 
tf Court Terme use 

d Court Terme FRF FF 

CREDIT COMMERCIAL 06 FRANCE 
d El. ices Monetolre_ "*■ “ 

a 'em a encash USD b 
CREDIT SUISSE 

d CSF Bones 

d Bond Volar Swt 

or Bond Valor US - Dollar . 

d Bond voicr D • .‘/art DM 

d Bond Valor yen 

d Bond Valor: St or 1 1 no 

d CCftvert Valor Sul 

d Convert 'Tolor us - Dollar 

a Convert Volar r Sterling t 

d CSF international SF 

d Actions Sulsses SF 

d Credis Smtl+Mtd Coo SwMzlSF 
d Eurooo Valor, 
d Energle - Valor 
d PdCtllC- Valor 
d CSGoW'/otor 
d CS Tiger Fur.O 
a CS Ecu Bond A 
4 CS Ecu Bond B 
d CS Gulden fiand A . 
ti CS Gulden Band B 
d CS Htspano leerloFdA 
d CS Hlwono Iberia Fd B — Pta 
d CS Prime Bond A 

d CS Prim* Bond B 

d C5 Europa Bond A. ■ ..-.-DM 

d CS Eutdpo Bond B DM 

CS Fixed I SF 1% 1/9* SF 

Fixed I DM B% 1/M. DM 

Fixed I Ecu R 3/4% l/M-£a» 

Strips Franc Bond A SF 

d CS Stria Franc Bond B SF 

ECS Bond Fd Lire A/B LN 3551 

d CS Bcrxf Fd Fosvt05 A/0 — PTua 112 
GermonvFundA DM 






TyT 



'y. ■! Mfl »^TT— 



Tr'n 



f St* 




FiNMANAGEMENT SA-LugoiM«IJI/2mUl 

w DeM Premium Carp * llfrgo 

FOKUS BANKAi02«iSK 

■» Sconfonda inn Growtn Fd_S l.lj 

FUND MARKETING CROUP (BID) 

PO Bax SOL Hamilton. Bermuda 

m FMG Gtobol (3 Feoi S u.n 

m FMG N. Amer. {» Few * 1131 

mFMG Eurap* (»Febi s 1130 

m FMG EMG MKT (3 P«I.J lXAl 

mFMGQ (70 Fml S lfl.09 

FX CONCEPTS (BERMUDA! LTD 

iw COneePh Fare, Puna s 1041 

GAIA CURRENCY FUNDS 

w Gala Hedge 1 1 i ix»» 

» Gaia Hedaa III .J uo3 

w Gaia Swiss front Fd SF 522* 

wGAIAFx_^ s I14S5 

mGalaGuaranlcedCt. I~ — «u 

mCaia Guaranteed Cl II 1 tftjs 

GARTMORE INDOSUEZ FUNDS IUIVH 
T« : (J5ZI 46 54 24 470 
Fax : (3S2I44S4 53 
BOND PORTFOLIOS 

fl OEM Bald Dlsi7D DM »J7 

d Diverboad. Dlsl84 SF «D 

d Dollar Bond — Ole 2-T9 s 2.4) 

d European B4L -Dis 122 Ecu 1 jj 

a Frencn Fronc_Dls 1041 FF Ua« 

d Global Bond — D*s 2J0 j 2.48 

EQUITY PORTFOLIOS 

0 ASEAN 1 814 

dAslo Pacific S 4 44 

0 Continental Europe-— Ecu 1S3 

a Devwcolng Morkelti ..5 u) 

0 France FF 1221 

0 German* .DM 5.73 

0 nuprrmtlnnnl— _ , 

0 Japan y aiM 

0 Nortn Amerlgi... ... l 2.74 

0 Switzerland SF JB) 

d Untied Kingdom ( 144 

RESERVE FUNDS 

d DEM — DIS 544 DM iCt 

0 Dollar. Dh Z08 5 2.155 

d Frencn Frgnc FF 1202 

d Yen Reserve y jmj 

OEFINOR FUNDS 

Lorrien : dti - 499,1 71. Geneva : 41-223555* 

w East investment Fund J 747* 

w Scottish World Fund s 441 j?w 

n Stale S3. Anwrlcon S 348.97 

GENESEE FUND Ud 

w IAI Genesee Eoslc S 1*02 

w Ibi Genesee snort- « eft o e 

w 1C) Genesee Opoortunl|y_j 15204 

w IF) Genesee Non-Eaultv ft IW* 

GEO LOGOS 

» 1 1 Straight Bond B Ecu 105409 

ur II Pacific BandB SF 145148 

GLOBAL ASSET MANAGEMENT 
OFFSHORE FUNDS 
1 1 Atnof SiAtaaios.l 01 Man 4442M2U07 

w GAMerlco ft 458J7 

wGAM Arwtrooe i JV4J7 

w GAM ASEAN ft 4J0.77 

w GAM Austrnllo S 222.1} 

iv GAM Boston t 156X1 

mCAM-Coralll Minnetonka S 1QSJI 

wGAM comolned DM 134* 

w GAM Cross-Morte! S M0.4S 

wGAM European. S 9171 

wGAM France FF 2021* 

iv GAM Franc-urn _ 5 F 274J15 

■v GAM flAMCO , JUBJe 

WGAM High yield S 1S9J2 

WGAM East Asia Inc ft 71248 

wGAM japan 5 17140 

w GAM Money Mkts USft ft 100* 

0 Do Sterling i 101A1 

0 DoSwlS5 Franc SF 10CLBS 

0 Do Deutschemart DM lB1.1t 

0 Do Yen Y 100160)0 

wGAM Allocated Mltt-Fd_j 17183 

w GAM Emerp Mkts MItFFd _S IK. 70 

wGAM Mlll-Eurepe USS ft 141,51 

wGAM M/I I- Europe DM DM 14154 

nr GAM Mltl-GfotMl USS ft 185.91 

w GAM Market Neutral ft 1)7.73 

wGAM Trod tap DM —DM 13386 

w GAM Trading USS 5 I7U7 

w GAM Dveneas— 1B&2B 

«v GAM Pacific ft 800.97 

wGAMSeWCtlcxi- 5 6*454 

wGAMSlnoapore/Mataysla_ft 47189 

wGAM SF Speclof Band SF 132J8 

w GAM Tyche 5 36785 

wGAM US. ft 20&S4 

w GAMut investment* ft SOLDO 

wGAM Value s 11SA2 

w 6AM White [horn ft 191.54 

wGAMWwhtwlde ft «4JP 

w gam Bond USS ora . 144.74 

wGAM Band USS SpedOl ft 19147 

WGAM Bond SF xc 10409 

WGAM Bond Yen Y 1459a® 

wGAM Bond DM DM 1215S 

WGAM Bondi I 14483 

wGAM c5eedul Bond— I 144.94 

wGAM Unlveraal USS > 1S7JB 

w GSAM ComoMlte I 3478* 

SWISS REG ISTE R E D FUNDS 41-W22 2*24 
Muhlebachstraw 171CH 8034jurlch 

0 GAM ICH) Amortca SF 142459 

0 GAM (CHS Europe SF IQU* 

0 GAM <CH) Mondial SF 17X74 

d GAM (CHI Pndflr SF 2BU.9S 

SEC REGISTERED FUND5 

115 East 57rtl Street.NY 10022512083-000 

wSAMSuron 1 9075 

WGAM Global 1 14&M 

wGAM International— J 19S79 

wGAM North Anarlco 1 K35 

wGAM Pacific Basin ft 1801 

IRISH REGISTE RED UCITS 
EarWort Terrace, Dublin 2.353-U?6ft*30 

w GAM Americono Acc^ DM fUM 

wGAMEurOPPACc DM 13SJ7 

wGAM Orient Aa DM 159, 16 

WGAM TakVO ACC DM T7A14 

WGAM Total Bond DM ACC-DM 11046 

w GAM UnMraal DM ACC DM 1717* 

GLOBAL CAPITAL MANAGEMENT LTD 
Banmx>a:(B9*) 2954000 Fax;(8091 29S41* 

! JWH GLOBAL STRATEGIES LTD 

w (Cl Financial ft Metali s 1*4.11 

, w(Ql KTGffltJOl S 10420 

w (F) G7 Ciiirmcy s BS27 

.w (HI Yen Financial ft 16755 

,w(J) Diversified RskAa 1 5 m3 - 

•w IK) lidl Currency ft Bond J 11255 

WJWH WORLDWIDE FND-S 17J0 

GLOBAL FUTURES ft OPTIONS SICAV 
m FFM ltd Bd Progr<HF Cl jf iau» 

GOLDMAN SACHS 

w GS Adi Rate Mart. Fd 1 1 — S 9.13 

mGS Global Currency 1 125157 

V* GS G local Equity 1 113* 

W GS World Bom Fund ft 1050 

w GS Wttld Income Fund 1 fJ6 

OOTTBX FUND MANAORMBNT 

w G. Swap Fund -—Ecu 12Q2J7 

GRANITE CAPITAL INTL GROUP 
w Granite CaoHnl Equity . 187* 

wOnmHeOsiHtii WO Neutrals 11005 


GT ASSET MANAGEMENT (IRELAND) LTD 
TM: (44) 71-7104567 

0 GT Asaan Fd A Sham 1 

0 GT4Mon FOB Shares —_S 
0 GT Asia Fixid A Shores — j 

d GT Asia Fund B Shores S 

0 GT Aslan Small Come A Sh8 
0 GT Aslan Small Camp B ShJ 
0 GT Aunroilo Pd A SharakA 
0 GT Aiarrafla Fd BShareftjt 
0 GT AuBtrftmoli Co A Sfv — ft 

0 gt Austr. Small Co B Sh s 

0 OT awry JaoCTi Fd A Sh — ft 

d GT Berry Japan Fd 8 Sh ft 

0 GT Bond Fd A Shorn 

0 GT Bond Fd B Shores S 

0 GT Dollar Fund A Sh ft 

0 GT Dollar Fund B Sh . ■ ft 
0 OT Emerging MMtl A Sh— I 
0 GT Emerging Mkts BSh_3 
d GT Em M*t Small Co A Sh J 
0 GT Em MU Small Co B Sh J 
w GT Eure Small Co Pd a Sh_S 
pr GT Euro Small Co Fd B Sh J 
0 GT Kong Kane Fd a Share** 
d GT Hone Kang Pd B Stares* 

0 GT HantlUl PqfMMOor A Sh* 

0 GT Honshu Pathfinder B Snft 
wGT JapOTC Sloan Fd A ShS 
Mr GT Jan OT C Stochs FdBlM 
w GT Joe Small Co Fd a Sh — J 
w or Jap Small Co Fd B Sh-A 
w GT. Latin Americo Fd — J 
0 GT Strategic Bd Fd A Sh — ft 
0 GT Strategic Bd Fd B Sh_5 
0 GT Telecomm. Fd A Shares; 
d GT Tetocodim. Fd B Shore* ft 
r GT Tedwolcoy Fund A Sh J 
r GT Technolosv Fund B Sh J 
GT MANAGEMENT PLC (41 71 718 45 67) 

0 G.T. Biotech/ Health Fund_l 24A 

d G.T. Deutschland Fund ft 1329 

0 GT. Europe Fund — ■ . ..» 5287 

wGT. Gtt« I Small Co Fd ft 29AJ 

0 GT. investment Fund 5 2551 

w GT. Korea Fund — 5 551 

wGT. Newly indCountrFd _s u m 

w G.T. US Small Companies —ft 2575 

GUERNSEY CAPITAL MANAGEMENT LTD 

1 GCM Global SeL Ea. — —ft 109X 

GUINNESS FLIGHT FD MNGRS (G4«eyl Ud 
GUINNESS FLIGHT GLBL STRATEGY FD 

0 Mcnaoed Currency _s 3938 

0 Global Bond S 3753 

0 Oiobai High income Bond— 1 2380 

d Gilt ft C Bend 1 1155 

0 EuroHicti me. Bond 1 2379 

0 Global Equity ft 9132 

0 American BtaeOite ft 

0 Japan and Pad Be —ft 13057 

0 UK C 2789 

0 European- ft IK32 

GUINNESS FLIGHT INTL ACCUM FD 

a Deutschemart Money -DM 8L333 

0 US Dattar Money ft MJ* 

0 US Do I tor HWl Yd Bond — ft 7544 

0 Inti Balanced Grift i 3858 

HASENBICHLER ASSET MANGT G i t . tttb H. 

wHasendanerCom AO s S5HJK 

w HasetiUcMer Cam Inc- ft 1UJM 

nr HasenfalcWg’ Dhr .1 115. U 

tvAFFT S 1347JS 

HEPTAGON FUND NV Uf99415SSS) 

1 Heptagon QLB Fund j 10005 

m Heptagon CMO Fund S 16985 

HERMES ASSET MANAGEMENT LTD 
Sermuda; [859)295 4KL Lux : IJSMW M 51 
EsHmoXM Price*/ Band Pltal 

/h Hermes European Fund Ecu 3647S 

m Hermtt North Americsn FdS 301.17 

m Hermes Aslan Fund s 48151 

m Hermes Em erg Mkts FundJ 14228 

mHWrttsStrflteste Fund^S 74L73 

m Hermes Neutral Fund S 11087 

GMbal Fund S «8e84 

Band Fund— Ecu 12988) 

Staling Fd i H4.1S 


rmfffmw Dow fiuna 5. _ *27.15 

INCOME PARTNERS (ASIAJ LIMITED 

w Asuii FivM income Fd ft '0715 

INTER INVEST (BERMUDA! LIT) 

C. a Banfi of Bermuda, Tel : W 2W 4*0 
m Hedge HHft Conserve Ffl-S v*7 

INTERNATIONAL ASSETS FUND 
2. Bd Rural. L-244" Lu-embours 

w Europe 5ud E — 97 ■ il 

INTERNATIONAL MGMT INCOME FUND 

0 Amerioue du Nord— > <0010 

0 Europe Continental* — ’OB* 

a Ifni* U> IOOJ258B 

3 Zone Asotnue f 1030*80 

INVESCO INTL LYDi FOB 371. Jersey 
T**: 44 J34 73114 

0 MO* Imum income Fund — ( IJ1200" 

a Sterling Mngd Pill _l 2JW0 

0 Plonrer Markels t HW 

o Okasen Global yrwo» — s 17 aiob 

0 UK) Super Growth S 230800 

a Nieoun Warrant Fund ft 255® 

0 Asia Tiger Warrant— S un» 

0 European warrant Fund. — ft 38408 

0 Gtd N W. 1994 ft 951® 

PREMIER SELECT FUNDS 
0 American Growlh— . S (JWO 

a American Enternnse ft ICUi® 

j Asia Tiger Growtn —ft lUDtc 

d Donor Reserve- — ) 51(40 

fl EurtPCon Gravrth™-^ S 5790C 

d European EmerprHa ft t49® 

0 Global Emerging Markets _S 95700 

a Global Growth ft 570® 

0 Nippon Etaeroflse ft 7.1200 

d Nippon Growth ft 511® 

0 UK Growth i 554® 

a Staling Reserve - .—.ft 

d North Amer^ooWoTronl— i 58'M 

0 Greater China Oops ft UdO 

ITALFORTUNE INTL. FUNDS 
wCfatkAiAggr.Growthltal.lS B0931U 

wCioss B (Gloool Equhv) S 1)80 

WCIOMC (Global Bona) ft 1105 

* Class Di Ecu Bondi Ecu itJB 

JARDINE FLEMING. GPOBM 11*48 Ho Kg 

d JF ASEAN Trull 5 SOB 

0 JF Far East wrnt Tr ft 3157 

a JF G label Cany Tr ft IftH 

d JF Hong Kong Trujf— ft 116(1 

0 JF Japan 5m. Ce Tr Y 50711® 

0JF Japan Trust - .V 13383® 

0 JFMcJevski Trust ft 2551 

d JF Pacific me Tr. J 12® 

d JF Thai Iona Trust J 3452 

JOHN GOVETT MANT [IJ5JAJ LTD 
Tol: 44824 - 62 94 20 

w Oovert Mat. Futures— ( 1381 

w Gavett Man. Fut. USS s 921 

» Govcti ft Gror. Curr S 1130 

w Covert t GlbJ BaL Hdge ft 112529 

JULIUS BAER GROUP 

0 Baeroonn SF 

O Cenoar SF 

0 Eoulboer America— ft 

0 Equibaer Europe -5F 

0 SFR- BAER SF 

0 Stock bar SF 

O Swnstw SF 

d LlquIOoer S 

0 Europe Bond Fuoa Ecu 

d Dollar Bond Fund S 

0 Austro Bond Fund a * 

0 Swiss Bono Fund SF 13*80 

d DM Bond Fund .DM 12110 

0 Convert Band F-w * F 

a Global Bond Funa DM 

0 Eure Stack Fund Ecu 

0 US Stock Fund— ft 

0 PDcItic Stock Fund ft 

0 Swiss Start Fund— SF 

0 Soecloi Swiss Stock SF 

0 Japan Stock Fund Y 

0 German Stack Fund____DM 
0 Korean 5 rock Fund - « 

0 Swiss Franc Cash SF 

0 CM Cosh Fund DM 

0 ECU Cmh Fund Ecu 

0 Stating Casn Fund t 

0 Dollar Cash Fund S 

0 French Franc Cash FF 

w Mult lad visor Forex Fd ft 10105480 j 

KBY ASSET MANAGEMENT INC 

nt Kev Global Hedge ft 27474 

m Key Hedoe Fund fnc ft 14771 

m Key Hedge investments s l«83 

KIDDER, PEABODY 

I b Cnosopmke Fund Ud S 2*9055 

1 bill Fund Lfd I 1W8 80 

b inti Guaranteed Fund S 121*30 

o Stonehenge Lid i I445.il 

LATIN AMERICAN SECURITIES 

i T« : London 071 4* 1234 
d Argentinian Invest CO Slavs 2751 

d Brazilian Invest Co Slcav _S 3*72 

0 CotomeJan Invest Ca Slcav J 1*82 

0 Latin Amer Extra Yield F«s 11.11)4 

0 Larin America Income Co —ft 979 

0 Latin Amencai invest Ca^ft 11.71 

0 Mexican Invest Co Slcuv I 4192 

0 Peruvian InvtS Ca Slcav ft 1*55 

LEHMAN BROTHERS 

0 Allan Dragon Port NV A S 987 

0 Aslan Dragon Pori NV B_4 987 

0 Global Advisors II NV A S 

0 Global Advisors II NV B—J 
0 GloboJAdvbor»PorlNVA_s 1L3* 

0 Global Advisors Port NV B-S 104 

d Lehman Cur Adv. A/ B 1 1.1* 

d Premier Futures AOv A/B-S 95* 

LIFPO INVESTMENTS 
24/ F Llnpo Tower Centre, 19 OueencnavJfK 
Tel (8521 8*7*888 Fax (BSU 596 QW 

w Java Fund ft 1053 

wAseon Fl»ed me Fd I 989 

w IDR Money Market Fa ft 1255 

w USD Money ktarxrt Fd _S 1081 

wlndoreelnn Growth Fd ft 2159 

w Allan Growth Fund 5 11.72 

w Aslan Warrant Fund 1 882 

LLOYD OEORGE MNGMT (852) 845 401 

wAirtemo Fund 8 1770 

wLO Aston Smaller Cos Fd_! 197443 

W LG India Fund Lfd— —ft 1*36 

LLOYDS BANK INTL (BAHAMAS) LM 
Ltovds Americas Portfolio (809) 22M711 
w Balanced Moderate Risk Fdl 10.12 

LOMBARD. 0DIERB CIS 'GROUP 
OBLIFLEX LTD (C() 

rf.MuHloiTTency - . ■ - ft 3174 

0 Dollar Medium Tim ft - 2585 

0 Donor Long Term ■ ■ J 2179 

0 Japanese Yen— _Y 4915® 

0 Pound Sterilnp t 28® 

0 Deutsche Mork DM 1117 


d Dutch Florin . 
0 HY Eure Cur i 


0 HY Eure Currencies Ecu 

0 Swiss Franc SF 

0 US Dollar Short Term S 

0 HY Eure Curr Dh/W Pay — Ecu 

0 Swiss Multicurrency SF 

tf European Currency-.— Faj 
0 Beta ton Franc- — BF 


0 Convertible. __ 

d French c "r“. - i ft 

0 Swiss Multi-Dividend . SF 

0 Swlie Franc Short -Term _5F 

0 Canadian DCItor □ 

a Dutch Florin Multi .FI 

0 Swiss Franc Dtvld Pay SF 

0 CAD Multtajr. Dlv Cl 

a Mediterranean Curr SF 

d Convertible* SF 


d Mediterranean l 
d Convernwe* 


MALABAR CAP MOMT (Bermuda) LTD 

mMotabqrimi Fund S „ 20.9S 

MAN INTERNATIONAL FUTURES 
mMInt Limited • Ordinary __ft 49.T7 

mMint Umittd - income 1474 
mMint Gta Ltd - Spec issue—! 3a r? 

mM|rrt Gtd Ud-Hov JOQJ 1 2*99 

m Mint Gfd Ltd -Jon 1994 ft 22.14 

mMint Gtd Ltd -Dec 1994 ft 1)87 

mtwrri Gtfl Ltd ■ Aug 1995 i 1*55 

fllMMGtti CuTToncleft- — _S 1021 

m Mint Gtd Currencies 2® I__S 10*5 

mMIntSp Res Ltd (BNP) S 11072 

mAJhena Gta Futures ft 1253 

m Athene Gtd Currenrtoe ~8 9-B 

m A the he Gta Financial* rnc_l 1057 

m Atheno Gtd Financials Cap 5 1189 

mAHL Capital Mkti Fd ft 1254 

m AHL Commodity Fund S 1083 

mAHL Currency Fund ■ I 954 

mAHL Real Time Trod Fd __* io.i* 

mAHL GW Real Time Trd — J 1133 

m Mop Guaranteed 1994 LM — I 98* 

m Mop Leveraged Recov. Ltd 5 1155 

m MAP GuarartKfl 2000 s 1152 

mMint GGLFhl 2903 S BJ3 

MARITIME MANAGEMENT LTD 
71 Fran) St Hamilton Be rrmxia W»292.<m» 
w Maritime MlMector I Ltd J 107984 

wMoritimo GIW Beta Series _S 6B185 

wMnrttlmeGftl Delta Series 5 864J? 

wMorltlme GM Tou Sorifft-J SJB87 

MATTHEWS INTERNATIONAL MOT 
EMERGING ASIAN STRATEGIES FUND 

rnCtassA S 12009 

d Class B S 11788 

mPodtto Convert. Strat ft 9959 

MAVERICK (CAYMAN) (889) 999-7942 

m Maverick Fd 8 . 

MCKINLEY CAPITAL PARTNERS. LTD 
mThe Corsair Fund Ltd -.— ft 12*50 

MEESPIERSON 

ROkln S5v imzkk, Amsterdam (20-B1HBS) 
w Alia Poc Growth Fd N.V — I 4288 

tr Aslan Capital Koidlngs ft 6289 

w Aston Selection Fd N.V FI TO81 

w DP Amer. Growlh Fd N.V,_ft 3*77 

w EMS Offshore Fd N.V FI 1 089! 

w Europe Growth Fund N.V. -FI 8756 

wJOPonDtvifftUled Fund — ft 5589 

tv Leveraged Cop Hold 5 *372 

W Tokvo Pac. Hoi d. N.V. ft 25370 

MERRILL LYNCH , 

rf DoltorAsMtaPorttaito S 180 

0 Prime Rate Portfolio S 1080 

MERRILL LYNCH SHORT-TERM 
WORLD INCOME PORTFOLIO 

0 CkresA —S AM 

0 Class B 5 AM 

MERRILL LYNCH 

GLOBAL CURRENCY BONO SERIES 
AUSTRALIAN DOLLAR PORTFOLIO 

d Category AS 1A» 

0 Category B ■ Aft 1848 

CANADIAN DOLLAR PORTFOLIO 

d Category A. Cft 1A60 

— -i- ■ rs 1479 

CORPORATE HIGH INCOME PTFL 

0 OassA-1 ft |M7 

d Class A-2 S W7 

0 Class B*1 1 U7 

0 Class B-2 —ft 9075 

DEUT5CHE MARK PORTFOLIO 

0 Category A — DM UB 

0 Category n -»** 13® 

EUROPEAN BOND PORTFOLIO (OMI 

0 Class A- 1 8 MJ 

0 OS44A-2 1 Art 

tfCJOSSB-1. l J* 

tf Class B-2. S 1A37 


EUPOPEAN BOND PORTFOLIO I Utfti 

0 Class a-i dm taot 

0 Class A-3— — DM 1B73 

0 CtossB 1_ ft igg; 

0 Class B-7 S t(L&t 

POUND 5TEPLING PORTFOLIO 

d Category a t 1636 

d Coteoor, a_ r t »r,i 

US DOLLAR PORTFOLIO 

dCaiegorr* s 1177 

0 Cetcoerv p s 1JM 

YEN PORTFOLIO 

0 Category « Y 12*! 

U Category & V IjM 

MULTI CURRENCY BOND PTFL 

. d Class A ft 72.75 

d Class a s 2U4 

US FEDERAL SECURITIES PTFL 

0 Class a S 973 

0 Class B ft 1031 

MERRILL LYNCH 

EQUITY / CONVERTIBLE SERIES 

BASIC VALUE PORTFOLIO 

0 Class A __i 1531 

0 Class B ft 14.54 

CONVERTIBLE SECURITIES PTFL 

0 Class A S 14*5 

0 Class B J 143* 

GLOBAL ALLOCATION PTFL (USft) 

d Class A _ft 19.(8 

0 DimB S 1083 

GLOBAL EQUlTr PORTFOLIO 

0 ClMs A s 10.12 

0 Cioss B S 988 

EURO EQUITY PORTFOLIO 

0 Class A — ft UJ3 

d Ctoss B ft 1357 

LATIN AMERICA PORTFOLIO 

d Class A ... — 1*78 

0 Class B ft 168* 

WORLD NATURAL RESOURCES PTFL 

0 Class A ft 1131 

0 Ctoss B s 11® 

DRAGON PORTFOLIO 

a Cwss A s 15® 

0 Class B — i 1572 

MERRILL LYNCH INC I PORTFOLIO 

0 Ckm A 1 9® 

0 Class B ft 9® 

0 Class C s 9® 

MIRRILL LYNCH MEXICAN INC PORT 

0 Mexican me I Ptfl Ci A s 9.97 

0 Mexican me ft Prfi CIB S 9® 

d Mexican Inc Pusa Phi Cl A 8 951 

0 Mexican Inc P«o Ptfl CIB 5 9j! 

MOMENTUM ASSET MANAGEMENT 
w Momentum Novel Ita Peri_s 10*59 

m Momentum Romtxiw Fd s 128® 

m Momentum RxR R.U ft 89® 

m Mom e nt u m SMOuaoMer— 5 1*158 

MORVAL VOKWILLER ASSET MGT Ca 
w Wlltorfunds-WJ i teroona COPS 1584 

w Wllleriuftds-wiiiertxxxl EurEcu 1286 

w Wlllerfunds-Wll tor eg Eur_Ecu 1479 

w WUieriunas-wtitaeg Italy _Ut \3BX1® 

w Wltiertands- Wllleraq NA —ft 1 1.90 

MULTIMANAGER N.V. 
wCcsh Enhancement— _| 10® 

w Emerging Markets Fa S 2354 

w European Growth Fd— .Ecu 1*® 

w Hedge Fund S 135* 

w Japanese Fund Y 88* 

w Market Neutral— — : ft 1 1.7* 

w World Bond Fund Ecu 138* 

NICHOLAS-APPLEGATE CAPITAL MGT 

w NA Fie. tote Growth Fd ft I57®*8 

wNA Hedge Fund s 13670 

NOMURA INTL. (HONS KONG) LTD 
d Nomura Jakarta Fund— J 8.95 

NORIT CURRENCY FUND 

mNCFUSD ft *20.95 

mNCFDEM- DM 89589 

mNCFCHF SF 91479 

mNCFFRF FF 4440® 

mNCFJPY Y 62*95® 

mNCFBEF BF 77033® 

ODEY ASSET MANAGEMENT LTD 
21 G rosvencr St.Ldn WIX 9FE84.71-499 2998 

d Odpy Eurwwxt— DM 160.93 

w Oder European S 

wOdev Eurep Growth Inc— J3M 1548* 

w Odcy Eurap Growtn Ace— DM 15521 

w Odev Eure Grth Ster Inc I *1.12 

wOde* Eurn Orth Star Ate l *1® 

OLYMPIA CAPITAL INTL. INC 
Williams House. Hamilton HMD. Bermuda 
TH: 809 292-101* Fax: 809295-2305 

w Finsbury Group S 221.95 

w Olympia ScairiteSF—SF 17181 

P- Olympia Stars Emero Mkts ft moo; 

wtoitKA. Eastern Dragon ft 1158 

w Winch. Frontier ft 32280 

w Winch. Fut. Olympia Stor_S i«8» 

w Winch. Gi Sec Inc Pi (A) s 9® 

p> WbtoJt. gi sec Inc Pi (0—3 9® 

w Wlncn. H Idg Inti Mod Ison _ Ecu 146776 
w Winch. HUG infl Ser D— Ecu 172A® 

w winch. HidBlnrT Ser F —Ecu 172115 

n> Winch. HldgOly Star Heapeft 116503 

to Winch. Rescr. Mufti. Gv BtLft 19.97 

to Winchester Thailand.— ft 30® 

OPTIMA FUND MANAGEMENT 
73 Freni St. HantMeruBermudo 809 2954*58 

to Optima Emorofd Fd Ud I 9.97 

w Optima Fund— 8 188* 

to Optima Future* Fund ft .1780 

w Optima Global Fund— ft 1454 

toOpNma Pericuto Fd Ltd ft 9.99 

iv Optima Short Fund ■ 877 

FACTUAL 

0 Eternity Fund Ud S 3487821 

d infinity Fund Ud ft 5435151 

0 Star High Ytoto Fd LM ft 12U255 

PARIBAS-GROUP 

— 1 « 

0 Pnnmet USA B ft 

0 Parvtst Japan 3— Y 

0 Pomes) Asm PoeHB s 

0 Parvejt Eurnee B— — Ecu 

0 Porvest Holland B FI 

d Porvest Frtxtce B FF 

0 ParveilGermonyB DM 

0 Parvaet OttihOotlar B 8 

d Parvwt Obti-DM B DM 

d Pnrvest 06 1 1- Yen B . Y lenarMi 

d Parv®) ObiLGahten B Ft 1455® 

a Parvtsf ObJLFranc B FF 211*57 

0 Porvesl Obti-ftter B 1 1*751 

d Parvesf OnihEcu B Ecu 

0 Porvest ObU-Bekix B I F 

0 PoriS fT Dottor B ft 

0 Pnrvest S-T Eunv>e B Ecu 

0 POTWtS-TDEM B DM 

0 Parvwt S-T FRF B. ... _FF tmrrrm 

d Parvest S-T Bet Plus B BF 10*53® 

0 Parvest Global &_ LF 8102® 

0 Parvusl im Band B 8 II® 

0 Parvest Doll-Uro B Lit 5452®® 

0 Parvest Inf Equities B s 11257 

0 Parvest UK B K 97® 

0 Portrait USD PI® B 5 99® 

0 Parvests-T CHF B SF 250.98 

d ParvMt Dbtl-Carsdo B Cft 19288 

0 Parvest ObJFDKK B — DKK 987® 

PERMAL GROUP 

1 CommodlTiesLtd 8 99259 

1 Dm lUtor Growth N.V 8 306581 

/ Emerging Mkts Hldg* * 95075 

1 EuroMlr (Ecu! Ud Ecu 1778® 

t Investment HI dpt N.V. ft 1364.4* 

r Media 5 Commvmtcanonj-ft 1099® 

f Noscal Lld__ ft 181051 

PICTET G CIE-GROUP 

to P.C.F UK Vol (LUX) .. .ft 6*59 

iv P.C.F Getmaval (Lux) h m 97® 

w PG.F Neramvof i Lux) ft 2981 

toPJLF Vollber{Lwf) Ptat I073S® 

to PX.FVal Hallo (Lux)— Ul 17*9*2® 

wP.GFVol!rano!Lux) FF 1408® 

wP.U.F.VitibondSFR (Luxt-SF 29854 

, to P.U.F. Valbond U6D (LUX) J 234.97 

t*P.U.F.Voaiond Ecu (Lux! -Ecu 1W.I4 

to P.U.F.Valbond FRF (Lux).PF 997® 

i toP.U.F.VotixrdOBP(Lu»U 9U3 

w P.U.F.Valbond DEM (Luxl DM 300M 

to PJJ.F, US ft Bd Pit) (Lux)_ft 1021ft*® 
to P.U.F. Model Fd,— — .Ecu 12196 

iv P.U.T. Emerg Mkts (Lux) -ft 70115 

to P.U.T. Eur. Oppert (Lux) — Ecu 7SJ.13 

0 P.U.T. Global Vatu* Lux I -Ecu 1SU3 

toP.U,T. Euravul IU»J Ecu 23350 

a Pictet voisuine (CHI sf «®.ts 

m Inti Small Cob (IOMJ I 49884 

PREMIER INVESTMENT FUNDS LTD 
Gta PA Bax 1 1*1 Grand Cayman 
Fax: I8W) 949-0991 

m Premier US Eauity Fund— S 121*07 

m Premier EaRtei Mat Fd— i lier.fs 

m Premier inti Eq Fund ft 131BW 

m Premier Soveretei Bd Fdj TO*® 

m Premier Gloool Bd R3 * 1502.17 

mPremler TOfat Return Fd—ft 119277 

PUTNAM 

0 Emerging Hlth Sc Truaf S 43® 

to Putnam Em. Info. Sc Trust S 42.99 

0 Putnam Glob. Hltoi Growth J 1832 

0 Putnam High Inc GNIWA FdS B53 

0 Putnam I nil Fund— ft 1572 

QUANTUM GROUP Of FUNDS 
to Emerging Growth Fd N.V_A 200.98 

w Quantum Fund N.V ft 160 0 35 2 

>v Quantum Realty Trust— ft 13481 

w Quantum UK Reattv Fund_£ 104.16 

to Quasar I nil Fund N.V $ 147.9S 

toQuata Fund N.V. ft IS875 

QUARRY MANAGEMENT LTD 
Telephone : SW-94M050 
Facsimile: 809 - 94MM2 

0 Atlas Arbitrage Fd Ud ft .98® 

0 Hesperls Fund Ltd ft 10*90 

0 Meridian Hedge Fd Ltd sit ft 101® 

d Zenith Fund Ltd sta S 8*62 

REGENT FUND MANAGEMENT LTD 

to New Korea Growth Fd S 1184 

»r Noye Lor Pacific rnv Co — s 48*5 

toPoriflc ArbltrcweCe— ft 9® 

<n Rj- Country WmtFd s 27124 

d Regent GIW Am Grth Fd — ft 6J7t5 

0 Regent GlbJ Euro Crtti Fd_S 4JSS2 

0 Regent GW inti Gfth fd ft 2-3236 

0 Regent GW Jog Grth Fd— 5 10352 

d Regent GM Padf Basin — S 453B2 

d Regent GDX Reserve ft 2.16*1 

0 Regent GIW Reftcurats ft t*»9 

0 Regent gw Tiger,— ——ft 
d Regent Olbl UK Grth Fd — ft 1.9716 

w Regent htaehuf Fd LM ft HUB 

m Regent Pacific Hd{ Fd 8- 111*529 

d Regent 5rl Lanka Fd.— — J 1250 

to Undervalued Assets Ser l_S 11.10 

ROBECO GROUP 

POB 9713000 AZ RatterttenUn 110 ZM!2Z*_ . 

0 RG America Fund ■ ■ ....FI ISI.M 

0 RG Europe Fund FI 13150 

d RG Pacific Fund FI 14*80 

0 RG Dlvl rente Fund FI 5480 

0 RG MOW* Plus FFL FI 11141 

d RG Money Plus FJ J 10353 

0 RG Money Plus F DM DM 1V09B 

0 RG Money Ptaft F SF SF 10*28 

Mare Rodra see Amsterdam Starts 


March 21, 1994 

r quotec based on resue prices. 

W * NSlUMjl PI - twice weakly; (mj . monthly. 

ROTHSCHILD (GROUP ESMOND DE) 
IN-HOUSE FUNDS 

w Asian cents! tmumgs Fa -ft 6133 

to Da'wc LCF RLTftCTHId Bd_S 101401 

to Dalwa LCF Ratascn Fa ft 11S077 

« Force C«fi Tradition CmF -SF 103023? 

wLeiCjn _ 1 2477® 

a Lcverosed Cca hcaing* ft e!22 

b Pri ClUJIengr Smftft Fd SF 110471 

P Prteoultv F 3- Europe Ecu 117550 

b Pri«n.itt Fd-Meiratu _5 f 114.9M 

b Prieou::» Fd-LO-m Am s 11*7*2 

D Pr.baiw =una c,.. f 21934 

O Pnbond Funs USD S 113847 

b Pnoond c anr r me , 1175*7 

i* Select rue Invest SA ft 354561 

t Seurce j 1E948S0 

to US Bcno Plus ft 10015*1 

* VortaPhiJ Ear 1M3J8 

gS^ C F H S CB0UPEDMM,>M> 

tf Asia. Japod Emerg SrawtnS 178*140 

w EftPril Eur Parta mu T» Ecu 1*5197 

w Eureo S'rateg tn.efttm IQ „Ecu 10* 480 

0 Integral Futures S 1QSO50 

o Oohge-3 Gtaoai Fd General DM 19400* 

a Optigett Glptol Fix IncameDM 1*7552 
a Psclllc Nies FunC S I® 

it, Permalcr&Ucr Growtn NV1 30*857 

/ Selection Horban FF B11M.1J 

O Vleiair r Arione ft 508959 

ROTHSCHILD ASSET MGMT (Cl) LTD 

m Nemrpc Levercon Hta ft 94950 

SAFDIE GROUP/KEY ADVISORS LTD 
m Key Diversified irtc Fd Lttt5 I L668C2 

SAFRA REPUBLIC HOLDING 

tt PeooCIIC GA M f 1449* 

to Rep-JbliC GAM tmrf tf-n ft 12288 

to ROB GAM Em AM Is Global -ft 15175 

w Rep GAM Em Mkts Lot Am ft 125.1* 

to Republic GAM Earooe SF _$F 1 a.9* 

to Resubi-C GAM EureM USS5 1 1358 

w Republic GAM Grwrh CHF.SF 1)389 

i* RecuWie GAM Growth I L 10*97 

to RepuBI>c GAM Growtn USftft is?® 

•v Reausit: Gam Ooportumrv ft 11*92 

■V Republic GAM Pcofrf s 152.71 

w PinuWlc Grrve. Dol Inc ft 1057 

w Republic Greet Eur Inc DM 1058 

■v Republic La> Am Alice S t045l 

ur Feouhllc Let Am Argsnl ft )tfJ3 

toReoutncLai AmBraili x 11082 

■V Renubiic Laf Am Mnlea ft 10370 

<• RenuOlu: Lot Am Venez. ft 10086 

w Rep Soiomon Strel Fa Lid -ft 9531 

SANTANDER NEW WORLD INV. 

m Corr.nvmder Fund % 104759 

m Fyalorer Fund _ ft 120JD7 

SKANOtNAVISKA BNSK1LDA BANKS N 
S-E-BANKEN FUND 

0 Europe me ft un i 

a Florron Ostern ire S 094 

0 Global inc S 1® 

d LoKamedel int ft 136 

tf Varteen me ft 1® 

d jaoan Inc Y tBUQ 

0 /M4l|o Inc t 1-07 

0 Sverige inc See 10® 1 

0 Nor darner lice Inc ft 1 JH 

a Teknelegt inc ft l.u 

0 Svertae Rcxitefond inc —Set 1082 

SKANDIFOND5 

0 EouHv fnf I ACC I 17® 

0 Eauftv Inn me S 1413 

0 Eauity Global S 181 

0 Equity Nat. Rncureeft ft 156 

0 Eauity Japan V 11X03 

0 Equity Nordic - - ft 184 

a Eauity U.K ■ 1® 

0 Eauity Continent Europe J 1® 

0 Eoulty Mediterranean ft 1® 

0 Eauity North America— S 2-15 

0 Eauity For East ft 459 

d Wtl Emergfng Markets S tJC 

0 Bend mtl Acc S 125* 

0 Bond MM Inc ft 787 

0 Bond Eurooe ACC ft 180 

0 Bona Europe inc s o.99 

0 Bend Sweden ACC Sek 17® 

0 Bond Sweden inc Sek 11 £7 

0 Bond DEM ACC DM 130 

0 Bond DEM Inc. DM 0.97 

0 Bona Dollar US Acc ft 182 

d Bond Dollar US me. ft 187 

d Curr. US Dollar ft 155 

d Curr. Swedish Kronor __5ek 1251 

SOCIETE GENE RALE GROUP 
SOGELUX FUND (SF) 

to 5F Bonds A U5A S 1*83 

to SF BonOftB Germany —DM 3518 

toSF Bonds C France FF 11278 

wSFSond-.E.G.B. ft \1M 

to SF Bonds F Japan v 2341 

to SF Bonds GEuraoe Ecu 1405 

toSF Bands H World WMe—S 1857 

iv SF Bonds J Betetam BF 83500 

toSFEa-K North America _S 18® 

to SF Ea. L Wfaraae ___—Ecu 1600 

toSF Ea.M Potlfle Bnsln. Y 1600 

w SF Ea. P Growth Countrleeft 1881 

wSF EB.Q GofdMlnej ft 34® 

trSF Eo-R World Wide ft 1*09 

toSF Short Terms France — FF 1695363 

iv SF Short Term T Eur. Ecu 1*27 

SODIT1C ASSET MANAGEMENT INC 

to SAM Brazil % 330.12 

W SAM Dhmralttea ft )«X03 

to SAM/McGorr Hedge S 11187 

toSAM Opportunity ft 127® 

iv SAM Strategy— ——5 131® 

m Alpha SAM S 12955 

wGSAM Composite S 347® 

SR GLOBAL FUND LTD 

mSR European ft 9882 

mSR Asian ft too® 

mSR internet lanal S 101.13 

5VEN5KA HAHDELSBANKEN U. 

14* Bade la Petruew. L-2330 Luxembourg 
bSHB Bond Fund 8 5587 


b SHB Bond Fund t 

to Svensko SeL Fd Amer Sh— 5 
wSvorehn Sei. Fd Germany _5 
ir Svensko SeL Fd mn Bd Sh J 


to Svensko Sel. Fd irtTI Qt % 

w Svensko SeL Fd Japan Y 

iv svensko Sal Fd Mltl-Mkt— Sek 
to Svensko SeLFdPacHSh —ft 
w Svensko Sel Fd Send Bdi„Sek 

0 sbc Equity ptn-canedo— cs 

0 SBC Eauity Ptfl- Europe Ecu 

0 SBC Ea PHI NethartrexU— R 

0 SBC Govern Bd A/BS 1 

tf 58C Bond Pffl-Aufttr ft A— AS 
0 SBCBandPtfi-AiNtrSB — Aft 
d SBC Bond PtfVConft A— CS 

0 SBC Bona PHftCmUB .cs 

0 SBC Bond Rtf-DM A DM 

0 SBC Band PtfFOMB DM 

0 SBC Band Ptfl-Dutc3i G. A— FI 
d SBC Bond PHI-Duteh G. B_FI 

d SBC Bond Ptfl-Ecu A Ecu 

0 SBC Bond Pffl-Ecu B Ecu 

0 SBC Bond PtfLFF A FP 

0 SBC Bond PtfFFF B FF 

0 SBC Bond PHl-PtaiA/B — Plot 
0 SBC Band pifkSloriing A — i 


Ut 1(0208X00 


IZZdm 
A s 


0 SBC Band Plfl-Slerilno A — l 
0 SBC Bona Ptti-Slerllna B — i 
d SBC Bond Porttollo-SF A— SF 
0 SBC Bond Fort9otiu-5F B — SF 

d SBC Bond PtfHJSl A 5 

0 BBC Bond PtfWJSJ B ft 

d SBC Band Ptfl-Yon A Y 

0 SBC Bona Pill-Yen B Y 

0 SBC MMF-Aft Aft 

0 SBC MMF-BFR BF 


0 SBCMMF-L 

0 SBC DM Short-Term A— DM 1019® 

d SBC DM Short-Term B dm 13)9.14 

0 SBC MMF - Dutch G. Ft 73U® 

d SBC MMF ■ Ecu Ecu 373S.11 

0 SBC MMF. ESC Etc 450781M 

0 SBC MMF - FF PF 2H3184 

0 SBC MMF -Lit Ul 532823750 

0 SBC MMF- Pins Pta 36002*0* 

0SBCMMF- Schilling A5 3183650 

0 SBC MMF - Sterling— C »H58 

0 SBC MMF-SF SF 5M0J5 

0 SBC MMF -us -Dollar 1 7195® 

0 SBC MMF - USft/ !l l 208412 

0 SBC MMF -Yen Y 597mD0 

0 5BC Glbi-Ptfl SF GrttU— SF 122757 

0 SBC GlbJ-Ptfl Ecu Orth Ecu 1327® 

0 SBC GIM-PItL USD Grtti ft 120886 

0 SBC Glbl-Ptfl SF Ykl A SF 113751 

0 SBC GtiP-Ptfl SF Yid B SF 1240.98 

0 3BCGJW-PMI EcuYWA — Ecu 1 23491 

0 SBC Glbl-Ptfl Ecu Yld B ECU 13*5® 

6 SBC GftiLPlll USD YW A_ft 109*77 

rf 5BC G164-Pttl USD Yld B_ft 1199® 

d SBC Glbl-Pttl SF Inc A— SF TT0654 

0 SBC GrW-Plfl SF Inc 8 SF 112580 

0 SBC GlW-Ptf I Ecu IliC A. — Ecu 115432 

0 5BC Gtat-Pftt Ecu I IK 8 ECU 1179® 

0 SBC Glbl-Ptfl USD inc A ft 101989 

0 SBC Glbl-Ptfl USD InC B ft 1043.97 

-d SBC Glbl Ptft-DM Growth _ DM 1110.9* 

0 SBC Glbl PtiFOM Yid Ata -DM 107S57 

0 SBC Glbl Pffl-DM Inc A/B -DM 105653 

0 SBC Emerging Mnrkefs__5 1171.7* 

d SBC small ft mu cops Sw_sf 5**oo 

d AmericoValor S 35650 

d AngtoVolor E ml* 

d Alio Portfolio S 66220 

d Convert Bond Selection SF 11151 

0 D-Mark Band Selection DM 117® 

0 Dollar Bond Seta) lor, ft 13J51 

0 Eaj Bono Selection Ecu 10*80 

0 Florin Bond Selection F| 12225 

0 France Valor FF 221358 

d Germontavoior- DM 537® 

d Gold Portfolio— 1 39026 

tf IMrtoVolor Pta 6444850 

0 Itatvotar Ut 4*8701® 

0 Japan Portfolio Y 2549150 

0 Sterling Bond Selection t not 

0 Sw. Foreign Bond Selection 5F 1115* 

0 SwtMValor SF 59400 

0 Unlversot Bond Selection — ST 79® 

0 Unlveraal Fund SF 12352 

d Yen Bond Select tan Y 117e250 

TEMPLETON W.WIDE INVESTMENTS 
GROWTH PORTFOLIO 

d CtasftA-1— ft 1359 

0 Class A-2 ft 1739 

d CrnsftA-3 J U20 

0 Class B-l 1 1ZS0 

0 Class B-2 . ft 1*88 

INCOME PORTFOLIO 

tf CtoSS A S 1050 

a CIO® B S 9.W 

THORNTON MANAGEMENT LTD 

0 Pocif Invt FdSA E C 1451 

d Pocif Invt Fd SA DM DM 37® 

d Eastern Crusader Fund — s 114S 

0 Thor. LOTI Drevene Fd Ud J 37.99 

0 Thornton Orient inc Fd Ud S 2t® 

0 Thornton Tiger Fd Ltd— 5 4*34 

d Manooetf Selection s 71,73 

w Jakarta 5 itfi 

d Korea — S 15.12 


.SF 1159® 
SF 1419.19 
5 10*48 

ft 111® 

Y 10950750 

y 11^00 

AS 42935ft 
BF 11157000 
CS 467*07 
DM 1019® 
DM 1319.14 

3 7311*5 

ECU 3735.11 


Other Funds 


Esc 4507*650 



a "o riK’ld Scntr. L)ift % . 5 

■ .. rj.-neid Str;'egw lK. — S 
■r Fjlum c und-.. — -~.-8 

rr F -reaira Dveroeci Lia_ s 

w FirMEC8i?Funa 5 

n FIrit Ecu LU Ecu 

m First Frontier Fund. ft 

■nFim mtl Inietimtnl Lw J - 

n FL Truti Aft« 3 

» FI Truftt S«i»5e»tanfl SF 

a Fonaitdiio ft 

» Foniu< 1 Money JF 

>v Fontv 2 Dolce SF 

n Fonlu* 2- inti Bond— SF 

a Formula Selection Fa 5F . 

m Future Ccnrroiiat UC ft 

nGE V Generation Ltd _S 

r. Gemini Co - slid ft 

■n Grrre Progr»si<e Fa Lia_s 

**> German 5«. Aftoocloles DM 

mGFnsC Gr.>etn Fund S 

* Clsbol 93 Futw Lid ft- ft 

» G*otol ArtKfroge Lid SF 

O Global CcoFdBvl Lid S 

to Giocci Future*. Mqt Ltd —ft 

mGfPbai Mencion Fd Lfd ft 

«* Gannord x e 

0 GrevnLlne Fiance FF 

mCuaranteea Capital imm m lf 
iv Narungrr Latin Amer ft 

/ Heuiimonn Wdoi ?J.V._ S 

w MB limefttmenti Ltd S 

r> Hemisphere Neutral Fro 785 
0 HerimeCop Growtn Fa Ltd! 

» Hestia Fund s 

o Hiehbrtow Carnal Carp 5 

wHori»n Fund FF 

to ibex HOWftgs Ltd SF 

w i c DC Jotxjn Fund Y 

b ILA-IGB^ ft 

b ILA-lGF s 

d 1 LA I til ft 

to Indigo Current, Fd Ltd 1 

r Inri securities Fund Ecu 

d InterliflWSA ft 

a intresta DWS DM 

iv Japan Pacific Fund t 

m Japan Selection Asses Y 

w Japan Selection Fund 5 

iv Kenmar Gfd, Senes 2 ... ..5 

* Kenmor Guaranteed ft 

m ki Asia Poaiic Fa Ltd s 

to KM Global ft 

0 KML - II Hi9h Yield ft 

iv Xoree Dynamic Fund ft 

iv Korea Growth Trust 1 

m LF Y.eln 8 Growth Fd—ft 

to La Foverte Hotdlngs Lid s 

mLo Joita Ini Grin Fd Lid .-ft 
O Lot er man: Oft snore 5trot_> 

w Leaf Slcav ft 

171 Leu Performance Fa j 

n LF InlenullDnol ft 

m London Portfolio Services.! 

mLPS Inti H.P3 ft 

to Lux fund i 

Iti Lynx 5eL Hnlrtino -. C C 

htM i Mutil-Stroiegv ft 

tr /AKingdon Offshore, n.v * 

m Master Cop ft Hedge Fd ft 

» Morfertwrn Offshore Fa - * 

w MBE Japan Fund LF 

mMeGfMfft Global (Fro 2B> 3 

171 MCM int. umiied s 

■v Millennium International S 

ntMJAl Internoitonal Ltd ft 

m Momentum Guild Ltd ft 

w MuttHufuraa FF 

0 New Millennium Fut. Ltd —ft 

0 Newbonk Debentures s 

m nmt Asian Sel. Portlollg S 

w Noble Partners Inil Ltd S 

fit MSP F.l.T. Ltd S 

m Ocean Jlrotegles Limited ft 

iv Old ironside irtri Lid ft 

m Omega Overseas Pori ners -ft 

mOpatnMimer U-S. Artx 3 

1 v Optimal Effect Fut. Ltd 
w Optimal Effect Fut. Ud B _SF 

mDpiimiim Fund I 

iv Oracle Fund Ltd ft 

m Overlook Performonce ft 

rt Padf RIM Opp BVI Mar D9 ft 
mPon Fixed Inc Fd iJon31/-S 

mPAN tnlernatlanal Lid ft 

w Pcncurri int s 

w Ponda Fund Pi e * 

mPanptaeft Offshore (Feb 28) 1 

m Paragon Fund Limited s 

in Parallax Fund Lid ft 

mProuor inn Fund 5 

w Pharmo/WheaUh ft 

toPlurlgestien PlurhWBn __FF 

to Phirigeftllan Plurivaieur FF 

iv Piurivesi Slcav FF 

m Pombov Overseas LM ft 

m Portuguese Smaller Ca 3 

m Prlma Bond Plus Fd Ltd ft 

m Prime Capital Fund i M -— » 

m Prime Mulli-in-csl ft 

mPrlmea Fund S 

0 Prof irenl SA. DM 

»* Pyramid inv Fd Coro _ . . ft 

0 RAD Int. inv. Fn x 

a Regal inn Fund Lfd t 

1 Ric I novest Fund A S 

l Rlc Incvret Fund B s 

w RlehcDUrt Beltwav me S 

w rm Futures Fund Slcav__ft 

iv Sailor's inti Equity — .Ecu 

•y Salieris imi Fixed Ecu 

0 Sanyo Kle. 5ualn Fd ft 

d Sareureek Holding N.V. ft 

•v So rum Fund ft 

m Savoy Fund Ltd S 

msc Fundcm. Vat BVI Ltd__ft 
d SCI r Tech. Sa Luxemboureft 

m Scimitar Guar. Curr fo s 

m Scimitar Guaranteed Fd — ft 
m Set ecto Global Hodge Fd — ft 

a Selective Ful. PHI Ltd ft 

msemoaes 1 

iv Sinclair Muttitund Lfd ft 

to SJO Global (6091921-6595 — I 
iv Smith Barney Wrldwd Sec_J 
iv Smith Bomev wrldwd Spec * 
ivSP imemcrtianai SA A Sh_s 
ivSP intemafiomilSABShJ 

m Spirit Hedge Hid— 1 

Btsolrti Neutral Hid..— ft 

to Stanley Ross Futures Fund JF 

toSietnhardt OSeaE Fd Lfd. ft 

iv stetatardt Reofiy Trust — ft 
m Stricter Fund — ... .... ft 
m stroma Offshore Lfd — . — . ft 

d Sunset Gtabal 1)1 Ud s 

0 Sunset Global One ft 

m Sussex McGorr ft 

n»Ta» Cat renev S 

«v Techno Growth Fund SF 

0 Templeton Gloooj Inc ft 

mTlw Bridge Fund N.V ft 

m The Gee-Global Offshore— I 
d The motif Mufti Advisors— ft 

mThe j Fund B.v.i. Ltd 5 

w The Jaguar Fund N.v. ) 

d The Latin Equities Fd ft 

0 The M"A"R’S Fd Slcav A__S 
0 The M-A'R’S Fd Slcav L— DM 

m The Seychelles Fd LM S 

m The Smart Band Ltd SF 

iv Thema*frM Future* s 

m Tiger Setae Hold N V Bid ft 

m Tlaer Setae Hold N V Otter _» 
b Tl iC (OTC) Joe. Fd Slcav _ft 
b Tokyo IOTC) Fund Slcav _S 

«v Trans Global Invt Ltd ft 

0 T ran specific Fund Y 

w Trinity Futures Fd Ltd 1 

m Triumph l, -I 

m Triumph II .-S 

m Triumph f 1 1 ft 

m Triumph iv — ... ..- ft 

a Turquoise Fund— ft 
m Tweedy Browne Int'l n.v,— ft 
to Tweedy Browne n.v. Cl A — S 
w Tweedy Browne nv. a B — ft 

0 llboFutures — -FF 

0 UboFutures Dollar ■ a 

/ Ultima Growth Fd Ltd ft 

0 Umbrella Debt Fund Ltd — 8 
d untDnHto Fund Lfd— I 

» Unf Bond Fund Ecu 

to UM Capitol Allomagne DM 

1 v Uni Cadial Convert lb Iog — Ecu 

w Unf -Global Sleov DEM dm 

to Uni-Gtabcd Steav Ecu. Ecu 

w Uni-Global Slcav FRF FF 

iv uni-Gtabcd Slcav F6 -SF 

to Uru-Gkwol Slcav USD S 

0 Unico Equity Fond— DM 

0 Union Inv. Fund —DM 

m UnllradH CHF ....SF 

m UnHradee CHF Reg SF 

mUnnredegFRF . FF 

mUntfrodes USD ft 

w urew 1 nr 1 LM., ft 

mVaiDome — Ecu 

ut Victor Futures Fund ft 

b Vovooer investments Pic — ft 

to Vulture LM 8 

m Welles Wilder mtf Fd I 

iv Witter Jopon y 

iv Wflter South East Asia— S 

toWlllowbridw Inti CFM 8 

0 Win Global Fd Bd. Ptfl Ecu 

0 win Global Fd Ea. PHI Ecu 

d Win Global Fd Res Ptfl SP 

0 World Balanced Fund SA-ft 

mWortdwWr Limited ft 

to WPG Forber O' seas Part S 

mWW Capitol Grin Fd Lid ft 

m Young. — SF 

roZeohvT Hedge Fund— —ft 
mZwelp tell Lid ft 


TO OUR 
READERS 
JN 

GRBCE 

It’s never 
beenecsier 
to subscribe 
and save. 
Just coil 
today: 
(1)99-19-328 
in Athens. 


10050 
1SD47.U 
208850 
1282.16 
239 J* 
1419 
111® 
99® 
*122 
105155 
129050 
327J99 

179.12 
128* 

14438 

11489 

1642550 

1*331 

642.43 

54525 

2850.70 

10775 

220199 

H2.1«E 

105.9* 

I5B8B0 

20840 

99801 

11084 

102S 

9184 

20331 

10077 

*7X81 

*1.15 

*5.19 

1IM52 

11-35 

9924 

IM® 

89225 

953 

13742* 

&30 

1437.15 

12508X49 

*482 

9452 

980.12 



tocaiwnaer eitxs . - 




* Francs; FL- ftitch Florin; 
AwdaHs; ILC:- 


For information on how to list your fund, fax Simon OSBORN at (33-1) 46 37 21 33. 


- ; : 


K,:: ;r • 


| The conference program 
| will highlight the investment 
| opportunities in 

J Latin America following the 
i region ’s economic revival 


Latin America 

A New Investment Partner 


LONDON • JUNE 9 - 10 • 1994 


HcralbSlSribunc 



wmcrwwt i*u 


FOR FURTHER 
INFORMATION ON THE 
CONFERENCE: 

Brenda Hagerty 
International Herald Tribune 
63 Long Acre. London WC2E 9JH, England 
Tel: 144 71 ) 836 4802 
Fax: (44 71) S36 0717 


BS ; 


i 

















• IKJSfc-,,.- . , r 


r 


Page 12 

ADVERTISING SECTION 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, MARCH 22, 1994 


AiWRRTlSrNG SECTION 


With economic growth running at 8 percent annually, 
Malaysia is quickly gaining ground among Asia’s 
developing economies. Current estimates predict that 
the per capita income of Malaysians, who currently 
number 18.4 million, will increase eightfold 
in the period from 1990 to 2020. 

Fast-Forward for Economy 


alaysia. its 
Eg L Vi VjJ economy ex- 
phs *’ -j Sis! panding at a 
steady clip, is 
confident of catching up 
with the industrialized West 
by the year 2020. 

Once a splendid mansion, 
the Coq d'Or on Kuala 
Lumpur's Jalan Ampang 
boulevard is favored by 
those who rate restaurants 
on atmosphere, not cuisine. 
Six years ago. so deep was 
the recession that some 
nights one could dine in this 


The debr-sen'ice 
ratio is only 
2.4 percent 


palatial canteen all alone. 
These days, patrons must 
book or stand in line - and 
sometimes both. The reces- 
sion over. Malaysia has sped 
into prosperity. 

Turning up late for a re- 
cent lunch date at the Coq. a 
business tycoon jumped out 
of his Jaguar and offered this 
excuse: "Sorry, it's the traf- 
fic - a side effect of our suc- 
cess." That just about sums 
up Malaysia in 1994: a 
country with growing pains, 
but confident that its 
progress is unstoppable. 
Such assuredness is under- 
standable, given Malaysia's 
record. “You can’t argue 
against success - and it's'bur 
success that makes us so 
confident about die future,” 
says Kuala Lumpur busi- 
nessman Liin Kok Wing. 

Malaysians are so confi- 
dent that they have set them- 
selves the goal of becoming 
a fully developed country' by 
the year 2020. The way to 
get there iv to achieve an av- 
erage annual growth rate of 
7.5 percent for the next 30 
years. Easy, say those who 
drafted Vision *2020, a na- 
tional mission statement is- 
sued in 199!. If the vision 
comes to pass. Malaysians 
will be four times richer in 
2020 than they are today. 

So far. things are going 
swimmingly for Vision 
2020. Economic growth, 
above S percent for the sev- 
enth vear running in 1993. 


should hit 8.2 percent this 
year. The rate of inflation, 
expected to be held below 4 
percent again this year, will 
show once more that the 
government has mastered 
the difficult trick of keeping 
prices steady in a fast-ex- 
panding economy. 

If. as expected, the current 
account of the balance of 
payments registers a healthy 
suiplus this year, claims that 
the economy has been al- 
lowed to overheat will again 
be proven False. Says a se- 
nior Finance Ministry offi- 
cial: ’Tf we pushed the right 
levers, we could make the 
economy go even faster. But 
what we are after is sustain- 
able development. We be- 
lieve we are achieving that 
with a growth rate of 7.5 
percent to 8 percent.” 

Some still worry about 
economic machismo: Is 
Malaysia risking everything 
it has achieved in a desper- 
ate gamble to catch up with 
the West? Nonsense, say the 
pundits at the Finance Min- 
istry. If proof of Malaysia's 
prudence, indeed conser- 
vatism, is required, it is there 
on the balance sheet. Central 
bank reserves are larger than 
the country's foreign debt. 

The debt-service ratio, 
which measures the value of 
annual exports against the 
cost of servicing the national 
debt, is only 2.4 percent. 
This compares with the 20 
percent that the World Bank 
says is acceptable for a fast- 
developing economy like 
Malaysia's. Little wonder 
that bankers engage in a 
mad scramble on the few oc- 
casions that the government 
asks to borrow money. 

What is the secret of 
Malaysia's success? Being 
at the epicenter of the 
world's most dynamic re- 
gion helps: Malaysia is the 
only member of the Associ- 
ation of South East Asian 
Nations that shares a border 
with all the rest - Brunei, In- 
donesia, the Philippines, 
Singapore and Thailand. 
Having lots of space and 
plenty of natural resources 
also helps; Malaysia's popu- 
lation density is one-quarter 
lhat of Singapore and half 
that of Thailand. 


Mix potent comparative 
advantages with clever gov- 
ernment policies and you 
have an unbeatable formula, 
says Mahathir bin Mo- 
hamad, prime minister since 
1981. He likes to put it this 
way: ■‘Wages may be lower 
in other countries, but the 
kind of political stability and 
predictability of government 
policies in Malaysia is 
something that most other 
countries cannot offer.” 

Investors like low wages, 
but they like stability and 
predictability belter. 
Malaysia, a country with 
just 19 million people, has 
become a location of choice. 
According to the World 
Bank, between 1989 and 
1992, the country attracted 
$12.1 billion in foreign di- 
rect investment, the third- 
highest rate after China and 
Mexico. 

Malaysia is not an easy 
country to manage. With 
Malays making .up 60 per- 
cent of the population, Chi- 
nese 30 percent. Indians 10 
percent and all major reli- 
gions represented, it could 
be a volatile mix. But the 
country’s peculiar brand of 
race-based politics has taken 
hold. In fact so successful 
has the Malaysian model 
been that the World Bank 
considers it could be adapt- 
ed for use in South Africa. 

Some call Mr. Mahathir's 
political style “soft authori- 
tarianism” and some call it 
“hard democracy.” Whatev- 
er it is called, his brand of 
strong government goes 
down well with the elec- 
torate. Through regular and 
democratic elections, the 
same government has held 
power since independence 
in 1957. 

Within the next IS 
months, there must be a gen- 
eral election. The ruling Na- 
tional Front is a coalition of 
Malay. Chinese and Indian 
parties that Mr. Mahathir's 
United Malays National Or- 
ganization l UMNO) domi- 
nates. The coalition is tipped 
to improve on the two-thirds 
majority in Parliament it 
won in the 1990 poll. 

“We will do belter this 
time, because the leadership 
question within UMNO has 



•fe-lSZOj'Z&il^erirenicif-' - 
Malaysia’s population lived, in 
tueb an areas. Bf. 1992, fezsftgoze . 
bad increased to 45 percent 
•-Malaysia's estimated vtfeaa 
groyvfe rate fair ‘1990415 i*4.3 • 
percent, faster than Iadiaatiri on a 


been resolved,” says Mr. 
Lim. Late last year, in a no- 
holds-barred contest. Fi- 
nance Minister Anwar 
Ibrahim became Mr. Ma- 
hathir’s understudy at 
UMNO. This made the 46- 
year-old former student 
leader his country's deputy 
prime minister - and the fa- 
vorite to succeed Mr. Ma- 
hathir, a 69-year-old former 
country doctor. 

The way others see it, sta- 
bility is what you get when ; 
you handle the economy 
properly: it is a result of 
good economic manage- 
ment rather than a prerequi- 
site for it. “An open econo- 
my. that’s the key.” says 
Tan Keok Yin, the chief ex- 
ecutive officer of the Feder- 
ation of Malaysian Manu- 
facturers. 

Malaysians are happy to 
discuss the reasons for their 
success, to weigh this factor 
against that one and argue 
about strong government 
versus liberal democracy. A 
pleasant place for debate is 
the Coq d'Or restaurant - 
but leave lots of time to get 
there. 

Sid Astburv 


pat wife Indonesia, but slower ffeamt 
China and Cambodia. 

“ Infent mortality decreased froEBi 
] &.S percent is 2 985 to 12.Scerce»t 
in 1990. Only Singapore has a 
lower tale among Southeast Asian 
countries. 



• ^ 1 "" | 

. ■ :i. * -v * Arid [ ‘^- t i 

rirr tv » i j i » v iy_\v "TT 


: ; r 

\i f ' '' ^ 

i/j- 


• - 


- 





... 


Increased Autonomy for Trade Sector 


C™ alaysia seems 

*3E) ' v s ‘vj to have reach- 
gji ira ed a turning 
point in terms 
of trade and industry. The 
country continues to boom - 
registering a robust S per- 
cent growth in gross domes- 
tic product last year - but 

Companies urged to 
launch their own 
consumer brands 


can no longer rely on exter- 
nal catalysis to stoke manu- 
facturing and ex pen growth. 

Rafidah .Aziz, the minister 
of international trade and in- 
dustry. recently announced 
that due to numerous fac- 
tors. '’large waves” of for- 
eign investment in Malaysia 
were a thing of the past. As a 
result, domestic investment 
will have to play a more 
prominent role in the coun- 


try's economic future. 

New investment in manu- 
facturing fell by over 50 per- 
cent last year, to about $5 
billion. There was also a fall 
in the number of new manu- 
facturing projects, from S74 
to 653. In terms of origin, 
the United States was the top 
investor in 1 993 with $670 
million in proposed invest- 
ments. followed by Japan 
15630 million 1 and Taiwan 
($360 million). 

The money is going into a 
wide range of export prod- 
ucts. including processed 
foods, computers and elec- 
tronics, furniture and other 
wood-based products, chem- 
icals, auto pons, building 
materials, boats and marine 
equipment, steel and other 
metal items. 

The decline in foreign in- 
vestment is expected to con- 
tinue for the immediate fu- 
ture because of weak 
economies in the industrial- 
ized world and severe com- 








Malaysians are purchasing 
consumer items. 

petition for investment from 
other Asian nations, includ- 
ing newly emerging econ- 
omies like Vietnam and Chi- 
na. 

Industry experts say that 
the worldwide trend toward 
the implementation of trade 


more and more Jorcign-made 


This advertising section was produced in its entirely by the supplements division of the 
International Herald Tribune’s advertising department. • Sid Astbury is the Asian Busi- 
ness magazine correspondent for Malaysia. • Christine Hill is a free-lance writer based in 
Southeast Asia. - Julia Clerk and Joseph R. Yogerst arc free-lance writers based in Singa- 
pore. 


blocs could also affect in- 
vestment flows, especially if 
the North American Free 
Trade Association becomes 
successful. 

Although it may be too 
early to tell, the investment 
decline seems to have had 1 
little effect on trade. 
Malaysian exports totaled 
about $40 biliion in 1992 
and an estimated 544 billion 


Continued on page 13 


MALAYSIA AIRLINE SERVES more PEOPLE THAT! 

•• u 

■i? Imagine the future for one of the world's fastest growing airlines: In 
1992, we flew over 12 million passengers, more than any other airline front %! 
Southeast Asia. On a fleet of the latest 747-400s and 737-400s, some of ^ 


Buenos Aires , South America effective 2$ March 1994. For'reservatioi 





ADVERTIS ING section 


Page 13 

ADVERTISING SECTION J 



Domestic 



M A L A Y S I 


acturing Seeks a Higher Level 



ssemhling prod- 
p S i- ucls **- ,r outside 
fcp m \Xj interests has 
l^ i SST7il brought in a loi 
oi business, hui Malaysia is 
finding that making its own 
products brings in even 
more. 

Mention “tin mine" to 
many corporate types in the) 
capital and they will thinW 


. Manufacture# good! 
" account fir 70 f 
Percent of export J 

you mean thieTirfMine^- 
cotheque at the KiJla 
Lumpur Hilton: NouadL. 

. the Hilton's basement J-lit 
spot sees more action nan 
mcSst of Malaysia's npes. 
So rapid has been the fl of 
the once-mighty tin-npiing 
industry' that iLs counts on 
the Kuala Lumpur Slip. E.\- 
change are mostly Jenny 
slocks. i 

King Tin’s drumtX* tum- 
ble taught Malays/ □ Ics- 
-son: Even for a worf-cham- 
.pi.on producer, rep nee on 
primary conimodfies like 
tin. palm oil. timbrfand rub- 
ber can be catastiphic. Be- 
cause commodilwrices gy- 
rate between high and lows, 
economies thuuepend on 
them seesaw thjiugh booms 
■ and busts. To thieve re- 
silience, diveofication is 
necessary. I 
This is whatiylaluysia did 
after commiSity prices 
.'plunged in to. mid-1980s, 
dragging the iuntiy into iLs 
worst recessin since inde- 
. pendence fpni Britain in 
■_ 19S7. Thejeonomy was 
■opened u«b foreign in- 
. vestors, vyo were given 
_ .. hjusdsome fleentives to set 
^%factori| to make prod- 
; : .;ijdts ifiatpould .be sold 
?• --abroad. f •. •- 

The- refits are stunning. 

;■ 'Mimiifaduring now con- 
. tributesjQ percent to the 
• gross- iwnestic product. 


I- i; <oj as much as agriculture 
e i'Cs. One-quarier of the 
s fork force is in manufacture 
>1 Jig. up from 15 percent 10 
is tears ago. Manufactured e\- 
n jportv now account for 70 
n percent of total export re- 
ceipts. a figure that should 
ob rise to 78 percent nest year. 
CL Malaysia is now a manu- 
il Jacturing powerhouse that 
t also is famous for timber, 
f rubber and tin. It is also the 
J world's largest producer of 
p-din oil. 

The full impact of 
Malaysia’s transformation 
from colonial outpost to 
manufacturing nation be- 
comes apparem on the drive 
from Penang's international 
airport to George Town, the 
capita) of this bustling state 
on the northwest coasf of the 
Peninsula. The names that 
flash by read like a Who’s 
Who of the electronics in- 
dustry: Intel. Motorola. Hi- 
tachi, Hewlett-Packard. 
Thomson. Conner. Ad- 
vanced Micro Devices - all 
have huge operations in 
Penang. Malaysia's Silicon 
Island. Electronics is the 
country's biggest manufac- 
turing industry and Malaysia 
the world’s larges; exporter 
of semiconductors. 

Across Malaysia. 200,000 
people are employed in the 
electronics industry, and the 
industry has made Penang 
its home. “Acer has more 
than 10 offshore plants, in- 
cluding ones in the United 
States. Europe. Australia 
and Japan, but Penang is still 
our best site," says Stan 
Shih. the chairman of Tai- 
wan's Acer Inc. Acer's 
Penang plant makes 2 mil- 
lion color monitors a year. 

Just as the country has 
been transformed, so have 
its companies. Sime Darby 
is an example. Once a sleepy 
plantations company, it is 
now a Kuala Lumpur-based 
regional multinational with 
200 companies in 21 coun- 
tries and 32.000 employees. 


mem. By this 1 mean innov- 
ative technology, design and 
engineering technology 
Welcome to Proton, the 
maker of the national car 
and a robust example of a lo- 
cal company that has tri- 
umphed in a high-technolo- 
gy Held. Last year. Proton 
sold over 88.000 cars in 
Malaysia - 10 limes the vol 
ume of its nearest rival. On 
home turf, it has an astonish 
ing 73.5 percent of the mar- 
ket. 

Abroad, Proton is also do- 
ing well. Last year, 18,525 
Proton cars were sold in 


Britain, giving the company 
1 percent of one of the 
world's most competitive 
car markets. Britain is Pro- 


ton’s best overseas market. 


with over 70.000 units sold. 
“Now we arc in the first 
stage of planning for France. 
Germany and 'Belgium.' 
says Mohamad Nadzmi 
Proton's young managing 
director. 


A decade ago. Proton was 
scorned as an'expensive ego 
trip for the national leader- 
ship. Now. it is a beacon of 
light for Malaysian manu 
faciurers. 



Its assets equal uhnut 5 per- 
cent of Malaysia's GNP. 

Ahmad Yahya, Sime Dar- 
by's depuly executive chair- 
man. bridles at the notion maker of the national car 
that the country’s biggest 
company lias lost interest in 

plantations. "It’s not really umphed in a hieh-technolo- stage of planning for France, 
true. We have the same 
acreage now as when I 
joined the company. Planta- 
tions are It) percent of the v. v.. w, 

profitability of the group, home turf, it has an astonish 

compared with 65 percent ing 73.5 percent of the mar- scorned as an'expensive ego 
before. It’s the buildup of kel. trip for the national icadcr- 

the other businesses (hat has 
coined this phrase ‘diversifi- 
cation.’” 

Sime Darby the planta- 
tions giant is now running a 
travel agency in Hong Kong 
and ;t resort in Florida, dis- 
tributing bicycles in Aus- 
tralia and condoms in 
Britain, selling insurance in 
Thailand and making tires in 
the Philippines. “We are tak- 
ing steps to ensure the Sime 
Darby name will be more 
well-known international- 
ly.” says Nik Mohamed, 

Sime Darby's 44-year-old 
group chief executive. 

Last year, Sime Darby 
opened a 37 million ringgit 
t$!3.5 million) tire technol- 
ogy center. Lots of 
Malaysian companies are 
taking similar initiatives. 

They must do so - Malaysia 
is becoming a victim of its 
own success. With more 
jobs than workers, wages are 
rising fast. Malaysia is no 
longer an ideal location for 
labor-intensive, assembly- 
type manufacturing opera- 

Malaysian companies must With Financing Deal, the Markets Come of Age 

master the latest lechnolo- ” 


Fmm consumer appliances to microchips. manufactured items 
now account for 70 percent of exports. 



gies. 

Famously forthright Rafi- 
dah Aziz, the minister for in- 
ternational trade and indus- 
try, puts it this way: “The 
time has come to take do- 
mestic manufacturing to a 
higher level. We have to de- 
velop Malaysian capability 
in the more complex stages 
of technological advance- 


ate one afternoon 
in September 
1992, the elec- 
tricity all over 
peninsular Malaysia went 
dead. Francis Yeoh, the 
managing director of YTL 
Sdn. Bbd., a local infrastruc- 
ture company, sensed a busi- 
ness opportunity. The 


fjEmai 


r \ : 



ly***#*^ yr- 

. V: ****•'- 



Malaysian economy showed 
every sign of continuing its 
five-year record of S percent 
of higher annual GDP 
growth, but unless the need 
for massive amounts of new 
power generation were ad- 
dressed. the country’s phe- 
nomenal growth would 
grind to a halL 
Within a few months. 
Malaysian government and 
business had found the an- 
swer. Independent Power 
Producers (IPPs) would 
build power plants and sell 
the electricity generated to 
the national power carrier. 
YTL obtained equity in two 
stations which, when com- 
pleted, would produce 


The deal was called 
the 'financing 
model* 


I.212MW of power, the 
equivalent of 20 percent of 
the country’s present elec- 
tricity demand. The project- 
ed cost was more than $1.2 
billion - an amount equal to 
2 percent of Malaysia's 
1993 GDP. 

Teo Kok Lim, an equities 
analyst for Baring Securities 
( Kuala Lumpur) refers io the 
deal that ensued as “the 
coming of age of the 
Malaysian capita! markets.” 
The deal proved that the do- 
mestic banks could handle 
long-term project financing 
on a non-recourse basis and 
without a government guar- 
antee. Moreover, the deal 
provided a safe home for the 
Employee Provident Funds 
(EPF), a government-run 
program of enforced savings 
with funds of more than $25 
billion. According to Mr. 
Lim, the government had 
been looking for long-term 
investments with a guaran- 
teed return. 

Analysts have long con- 
sidered Malaysia to have 
one of the most sophisticat- 
ed capital markets in the de- 


veloping world. Shares have 
been traded in the country 
for over 120 years, and the 
capitalization of the equity 
markets over the past six 
months has fluctuated be- 
tween three and six times the 
country’s GDP. “The mar- 
ket here is sophisticated 
enough for financial innova- 
tion rather than imitation,” 
says Richard Hall. YTL’s fi- 
nance director and a former 
investment banker. “This 
deal has been called the 




billion ringgit in a 15-year, 
floating-rate commercial 
loan, was oversubscribed by 
the local banks. Interest is 
pegged at 1.75 percent 
above the BLR of Bank Bu- 
niiputera. and 1.5 percent 
over the BLR after cash 
flow commences. One of the 
German underwriters of the 
deal arranged to buy 7 1 1 
million Deutsche marks to 
speed up the financing. The 
remaining 15 percent of the 
financing costs are to be 


most entirely by debt. 
“When we first started look- 
ing at how to fund the pro- 
ject, we did a search in 
North America for green- 
fields, power projects and 
bonds, and could not find 
any precedents.” 

According to Mr. Hall, lo- 
cal financing saved YTL 
risk, money and headaches. 
Because the deal is financed 
entirely in Malaysian cur- 
rency, YTL is not exposed 
to currency risk. Because it 













;/■« -cr - ^ . 




• . . ■ -i- . . . v . 


Malaysia’s capital tnarket has become sophisticated enough forfuwnciul innovation . 


Malaysian Financing Mod- 
el.” 

The deal included 1.5 bil- 
lion ringgit I $550 million) in 
fixed-rale, long-term debt. 
“That’s their biggest 
achievement.” says Mr. 
Lim. The 15-year bonds 
with a fixed rate of roughly 
10 percent, issued last No- 
vember. were bought by the 
EPF. “There are a lot of 
pent-up savings in the re- 
gion. such as those held in 
The EPF,” adds Mr. Hall. 
“But they have not Found a 
way to channel these sav- 
ings into financing of infra- 
structure until this project.” 

The rest of die financing 
package, consisting of 1.6 


funded through equity con- 
tributions from YTL and its 
partners. 

“The deal set a number of 
records in Malaysian fi- 
nance," says Mr. Hall. Tt 
was the largest financing 
package ever in Malaysia, 
the largest bond issue ever 
and the largest foreign-ex- 
change transaction done 
through a commercial bank. 
It was the first time such a 
deal was put together in 
Malaysia guaranteed by the 
project, not by the govern- 
ment.” 

Moreover, adds Mr. Hall, 
the YTL deal was the first 
greenfield project in South- 
east Asia to be funded al- 


was rated by the local rat- 
ings agency. Ratings 
Agency Malaysia, YTL did 
not have to deal with the 
added burden of country 
risk. “RAM doesn't factor in 
country risk to its ratings,” 
he says. “However, S&P 
and Moody's do. They give 
Malaysia a single ‘A’ rating, 
which increases the cost of 
financing. 

But you didn’t see them 
putting a counrry risk rating 
on the Linited States during 
the Vietnam War. when 
hundreds of thousands of 
people were marching in the 
streets, or during the LA 

rioLs.” 

Christine Hill 


Increased Autonomy for Trade Sector 


PEC 




n 


any OTHER AIRLINE FROM SOUTHEAST ASIA 

oday's most advanced aircraft. Spanning a truly international network of 
>ver 90 destinations. Across 6 continents* graced with service from the 
lean which s/ys. you mean the world to us. Imagine. Fly Malaysia Airlines 


.formation, call Ur favourite travel agent or Malaysia Airiines, 


Continued from page 12 

Iasi year, a healthy increase 
by any standard. 

Imports hit an estimated 
$42.8 billion last year as 
Malaysian purchases of for- 
eign-made consumer items 
increased. While the govern- 
ment has some reason to fret 
over increased spending, the 
country still chalked up a 
trade surplus of $1.2 billion. 

Singapore. Japan and the 
United States continued as 
Malaysia's top three trading 
partners in 1993. The gov- 
ernment is paving the way 
for even more bilateral trade 
with a recent pledge to fur- 


ther cut import tariffs in an 
effort to ensure that its 
homegrown products con- 
tinue to gain access to lucra- 
tive foreign markets. 

The government is also 
urging Malaysian compa- 
nies to boost exports by 
launching their own interna- 
tional consumer brands in- 
stead of acting as contract 
manufacturers for foreign 
companies. 

Malaysia’s manufacturing 
sector continues to grow 
faster than agriculture and 
mining, creating 125,000 
new jobs and accounting foe 
30 percent of gross domestic 
product last year. To keep 


the momentum going, the 
government has called for a 
r trade-up” lo technology-in- 
tensive. high-revenue-gener- 
ating operations - similar to 
what has already taken place 
in nearby Singapore. 

The Sixth Malaysia Plan, 
rhe most recent blueprint for 
national development, called 
for $30 billion in invest- 
ments during 1991-93. 
Ninety percent of this figure 
was met. The government s 
goal of having a 60:40 split 
between local and foreign 
content, however, was not 
reached; just 43 percent of 
new' investment came from 
domestic sources. 


Despite this imbalance, 
the government has decided 
that it will not give any spe- 
cial incentives and assis- 
tance io the manufacturing 
sector. Mrs. Aziz has said 
that the time has come for 
local manufacturers to “act 
on their own volition” and 
be motivated by the necessi- 
ty to survive in the heat of 
international competition, 
rather than by government 
incentives. 

In January, a trade mission 
to ASEAN members re- 
ceived pledges of $360 mil- 
lion in potential investments 
and $84 million in exports. 

Julia Clerk 






















Page 14 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, MARCH 22, 1994 


ADVERTISING SECTION 


a HVF.RTIS1NG SECTION 


Vf.': TO.:* 


f.'hUk 






WM 


7i 


Privatization Gives New Spark to Power Sector 


r V i nvate companies 
> v . M have the money. 
f ;- and the mandate. 

in solve Malay- 
sia's energy pmbleins. 

Listed on Lhe Kuala 
Lumpur Slock Exchange, 
now the si/e of Singapore's 
and Bangkok's combined, 
are lhe country's largest 
shipper, largest uiriine and 
largest port - all once gov- 
ern mem-owned and guv em- 
inent -run. Also privatized 
arc- the electricity company 
I enaga National and the 
telecommunications compa- 
ny Telekom Malaysia - 
which together make up 40 
percent of the capitalization 
of rlie stock market. 

Malaysia is convinced that 
the scll-ulV has helped it cir- 

c urn i cut the heavy over- 
loading of infrastructure and 
consequent breakdowns that 
plague other countries in the 
re J ion. 


The government seems 
determined to get out of as 
many businesses as possible. 
Why? In the words of An- 
war Ibrahim, the finance 
minister: "It is by now evi- 
dent that economic activity 
is Ivtter governed by market 
signals than by administra- 
tive directives." In the words 
of Mahathir bin Mohamad, 
the prime minister: % '5»el ^in- 
terest wtil ensure. that utili- 
ties and other govern me ill- 
owned corporations trans- 
ferred to the private sector, 
either fully or partly, will he 
better run. more efficient 
and profitable." 

These dictum.s are about 
to he tested by five 
Malaysian companies, each 
with a contract to build and 
run power stations. Malaysia 
estimates it will need an in- 
stalled capacity of 
25.000MW by the year 
2020. up .from* 6. 153 MW 


now. The bulk of that will 
come from the independent 
power producers ( IPPs). 

Malaysia should soon 
have more generating capac- 
ity trom IPPs than any oilier 
countrv m tne world. "The 


Analysis think 
Malaysia can he a 
Top generator 


way tilings are going, we're 
going to have electricity- 
coming out of our ears." 
says Sleven Wong, chief 
strategist at stockbrokers 
UMBC Securities in Kuala 
Lumpur. Along with other 
analysts, he wonders 
whether there are even a 
couple of IPP projects too 
many. 

Tenaga Nasionul will buy 
power from the IPPs. It may 
also be obliged to let them 


get involved in transmission 
and perhaps even distribu- 
tion. It views the IPPs as col- 
leagues rather than competi- 
tors. Says Ani Arope, Tena- 
ga's executive chairman: 
"We would like to create a 
win-win situation where 
every party involved will get 
comfortable returns on the 
power generation business.'* 

Foreign companies can 
join in the private-power bo- 
nanza, but are limited to a 25 
percent stake of the equity. 

Tenaga is also enrering 
joint ventures as a majority 
stake holder with state- 
owned companies in the As- 
sociated Power Producer 
(APP) format. Five stale 
governments have already 
signed up for APP deals. 

The five IPP plants ap- 
proved so far will be pow- 
ered by gas piped in from 
Malaysia's massive offshore 
fields. Tenaga, which only 


started using gas in 1991. 
now relies on it tor 38 per- 
cent of its fuel needs. Gas 
utilization is expected to 
nearly double by the end of 
the decade, mostly at the ex- 
pense of crude oil. 

Kuala Lumpur expects 
that it can generate electrici- 
ty cheaply enough to supply 
its partners in the Associa- 
tion of South East Asian Na- 
tions: Indonesia, the Philip- 
pines, Singapore, Thailand 
and Brunei. 

Analysts think Malaysia 
can be a top generator, too. 
It has lots of natural gas for 
fuel, the ability to raise capi- 
tal for plants cheaply and, 
after its first flush of IPPs, 
the management and techno- 
logical capability. 

In terms of foreign sales, 
its ace in the hole will be 
Bakun, a proposed hydro- 
electric scheme in the East 
Malaysian state of Sarawak. 



New power plants will be supplied by gas piped in from Malaysia's ffshore fields. 


The contract for this S5.5- 
billion project was awarded 
in February to Ekran, the 
listed flagship of local fi- 
nancier Ting Pek Khiing. It 
is Malaysia’s largest priva- 


tized power project to date - 
possibly the largest in the 
world 

Bakun involves the clear- 
ing of around 200.000 acres 
1 80,000 hectares ) of forest to 


mae way for a dam and a 
2.5UMW power plant deep 
in th heart of Borneo island. 
The lam will stem the Re- 
jang^iver, creating a lake 
the sie of Singapore. SA. 




m ci ri cz g i n g 


r p> & r jp <3 t vt i t yy 








Y^vm- - 
' '.v- 



- \ V* ‘ n 
m r* Xm'- 1 ; ' a - : 

V '« n 

^ ffrj' 


/ 


alaysials proudof ifs rich heritage of foresf. - • " • ^ 

- Malaysia’s forest management, which -began in 1 901 f is second to none among tropical • . .. 
courtfoes arid has succeeded in maintaining a high percentage ofMalaysla's land under 

• _ forest, mucK.more than 'even most developed countries. ' • 

-• Malaysia values its forest,- nof only for the benefits derived from rornmeraaf logging, 

■ downstream processing and extraction of non-timber produce, but equally few its ecology 

* cal and environmental protective role. Aware that sound forest rrranagement is vital, : - 
Malaysia has striven to strength en sustainable forest management, policy-wise and imple- 

' . ■ mentaiion-wise. . . . i •. . ■ - 


Malaysia rs well on fhe.way to Milling the ohiedive of suStainable forest management. on 

3tJdh:‘‘ . "... 





Jt * 




guidelines ijirotfgl 

' ^'tfrbrig emmifment by ^ Government, Federal -and State, to managefoe'- 

'.forest for present as.weO as Jufure generations; . - ’ " 

progressive improvement^ forest servicerand -strengthening R&D, through the 
/'•' ' For'est Research Institute of Malaysia fFRIM) which is acknowledged as the Wqrkl'i ~ '< 
c \ ' . . _ leading research organisation on tropical forest; ' . * \ ' . , - • ■ 

. ‘ successful divers i ficxition of the Malaysian economy/ .with lessnecessilyto convert - . / - 

forest land foagriculture in the fotere;. 

progeessin- poverty eradication; induding the provision. of social and eranohiic oppor- • ' 

; fan rties^ficM"- forest 'dwellers, which effedively-Teduces shifting cultivation practices on • 
forest -areas; • " * " •' ■* 


-] promotion of ecx^tourism where tourists can enjoy Malaysia 's^xtensive naturat forest, • : 

' v ; , --patipnal parks, wildlife sanctuaries and nature reserves: : • - - ' ’ " V; . • '/• 


- . - ; rA 


'Forest Is Forever And MalaysitiFoTever Green. 


. , Laforet demeureehla Malmsieest verted jamais, r; .. 


'eg*®® 







MI \ t 7£ 


Tt-1E MALAYSIAN TIMBER INDUSTRY DEVELOPMENT COUNCIL • 

Fotjtktc iofonnaiib a pi case contact: T%e Malaysia a Timber Industry DevdejmiHit Conn dl, . ' * • 

AB, 9th Poor Bangmun Arab Malaysian. 55. Jalan Raja Chulan, 50200 Kuala Lumpur, Malaysia. Tel: 03-2323999 Fax: 03-2386376 . 


Air CarrierPlans 


Global Presence 



alaysia's 


air 

transport in- 
dustry i- s cur- 
rently in the 


midst of major changes, de- 
velopments that will greatly 
improve passenger service 
anc scheduling both at home 
and abroad. 

At the forefront of the 
changes is Malaysia Air- 
lines. the national earner, 
which has embarked on an 
aggressive expansion and 
improvement scheme, pan 


New routes to 
Osaka and 
Buenos Aires 


dio systei offering a wide 
selection music. 

“This i state -ci-ihe-art 
audio reprduction technol- 
ogy,” saysAhmad Ilias B. 
Aziz of the*ompany*s tech- 
nical servies department. 
“[It] producs an exceilent 
signal-to-ncse ratio and a 
dynamic aud) output that is 
free from thtnoise buildup 
normally enamtered by the 
conventional .pe reproduc- 
er." 

Currently te airline is 
evaluating a sjtem known 
as Interactive ’abin Man- 
agement, whichirovides the 
latest in in-fligl. entertain- 
ment and service^ including 
live radio and elevision 
broadcasts; stok-market 
quotations and w-ather re- 
ports; games anefcompeti- 


of the company's overall 
drive to become a “global 
airline” by the year 2000. tions; and laptop omputer 
Two years ago, the airline and facsimile connunica- 

tions as well as icoming 


announced the' largest and 
most expensive aircraft 
modernization program in 
aviation history-, a venture 
that will eventually cost 
about $5 billion. At the same 
time, it is rapidly expanding 
its international route net- 
work. 


message reception .id pag- 
ing. 

The system woulddso al- 
low passengers the onve- 
nience of booking c- con- 
firming continuing f.ghts, 
car rentals, hotels, rstau- 
rants and theater tinets. 


At the end of March, Computer software deion- 
Malaysiu Airlines is set to- tstrarions and catalog nop- 


become the first Southeast 
Asian airline to fly to South 
America, with a new service 
from Kuala Lumpur to 
Buenos Aires. Two other re- 
cent additions to the route 
network include Rome and 
Cape Town. By the end of 
this year, it is planning to 
add its 5Sth international 
destination: Osaka, Japan. 

The company's current 
five-year program also calls 
for increased excellence in 
service, 'in-flight Facilities. 


ping would be available 
' Malaysia Airlines is Iso 
set to become a major plyer 
in the air-cargo businss. 
Last year, the airline tras- 
jborted 163,000 tons of y- 


so, and this is expectedho 

i>t 


icrcase significantly in te 
Upcoming years. 

"'In view of the high GD 
growth of S percent exper 
,enced by the Malaysia 
.'Economy, we are continu 
pusly monitoring capacitj 
pemand out of Malaysia tc 


ground support and infra- • iervice the growing mar- 
structure. KeC explains Mrs. Zawiah. 

“We will continue to im- ‘’Malaysia Airlines plans to 


prove our products and to 
enhance our customer ser- 
vices in tandem with mod- 
em technology, at the same 
time taking into considera- 
tion cost control." says Zaw- 
iah M. Aruf. the airline's 
customer relations and me- 
dia manager, adding: “This 


r^ake Kuala Lumpur a major 
cargo transshipment center 


ujjhe region. A significant 


^velopment will be the pro- 
vision of 200 million ringgit 
[$14 million] worth of ware- 
housing facilities at the new 
Sevang Airport when it is 
completed in 1998.* 



will not be at the expense of Tfc expansion drive coin- 
<i»rv if .> p\. ^ cidei with increased compe- 


sen'ice excellence. 

After Jiving for years in 
the shadow of more 
renowned carrier;, like Sin- 
gapore Airlines and Thai In- 
ternational. Malaysia Air- 
lines is finally starting to 
turn .some heads. Last year it 
wax rated best in first-class 
service in a surv ey of 31 car- 
riers conducted by Inllight 
Research Services,’ j British- 
based consultancy. In fact, 
the airline topped several 
categories, including cabin 
siatT courtesy, meal presen- 
tation and meal quality, and 
it was also praised for the 
sincerity ami enthusiasm of 
its cabin crews. 

iViulaysi.i Airlines is also 
draw ing plaudits for ics in- 
flielo eniertainment and 
conimu!iic,iii..n services. 
For inhume, ilr.a- ^nd busi- 
ness-class pussengers on 

Bfving 747-4UU llighis have 
access W: persona] 

(e!c\ i.siiiiis v, iii; -i-, 
guage video channel . anJ 
seven computer g,unes. 

In addition, uli 747-40U 
planes offer cordless tele- 
phones - allowing passen- 
gers to communicate with 
any city in the world - as 
well .»*• lhe high-! ideliiy 
sound ot a compact-disc uu- 


titio^ from foreign carriers 


and ^sharp drop in company 


profits. The Malaysia Air- 
^9 e . s p rou P posted a $61 
million pretax profit for the 
1992-?p financial year, a 32 
percerj increase from the 
previous period. Profits were 
down sharply t96 percent), 
howeve* in the first half of 
the current financial year. 

The company’s chairman. 
™. n . A * riia l bin Zainal 
Abidin, flames the profii 
slump or, a severe drop in 
passenger, and cargo traffic 
growth rats linked to reces- 
sion in tit industrialized 
couniriesi - ‘Intense price 
comnetitiof'due Lo excessive 
capacity in the international 
route netwerk and a strong 
nnggit turthtr diluted yield. " 
ne explains. 

Competitinn is set to in- 
crease Mill farther this fall, 
when Malaysa’s second in- 
ternational carter. Air Asia, 
begins operarims with char- 
<c: scp. ;ccs u.i hurist destina- 
jrons like fatanbul and 

, ^ 7 - slun - By he first quar- 
terof IW5. Air \sia hopes to 
^ to destinations 

*" lr * d,,n «ia. VVtnam. Chi- 
J a - lupan. Horn Kona and 
maiu. " J C 



*1 • -•> 


u CiOs 


you nil: 




■I ^ f 

: ... .a.-;. 


J hi-y ,.;-: r 

! :• V. 

l LliA- u ... 



ir'y.'-L : •• 


p T&r'-ii • v : ■ 

; - K'5 • -> "• • 

b:? :• - 
irS-i 

















TRTjs Iv^ 


i^Vg-RTISlNG SECTION 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, MARCH 22, 1994 


Page 15 

ADVERTISING SECTION - 


;.’V. : r.:.V$'Sv». . >. 


t-V -~r 


■ ' . It 
• , v Z*- 


r 


EE? 


. • <<y •. v.o.;:V ..*> 

k Siki ilJfcE !■ 




Environmental Approach 
Takes Bull by the Horns 

M alaysia is sen- ing a $6 billion theme park “As you know, 
ous about sus- in Kedah, a state in the really treat se 
tamable devel- northeast of peninsular Malaysia," Mr. Mi 

ODmenr. nnrf M->u.,r; n 


M alaysia is seri- 
ous about sus- 
tainable devel- 
opment, and 
Prime Minister Mahathir bin 
Mohamad does not mince 
words about it. 

Small wonder that Mr. 
Mahathir is regarded as one 
of the world’s prickliest 
politicians - he tells it like it 
is. Here is what he said at 
the 1992 Earth Summit in 
Rio de Janeiro: ‘‘When the 
rich chopped down their 
own forests, built their poi- 
son-belching factories and 
scoured the world for cheap 
resources, the poor said 
nothing. Indeed, they paid 
for the development of the 
rich. Now, the rich claim a 
right to regulate the develop- 
ment of the poor countries." 

Harsh words, perhaps - 
but they come from a con- 
vert to the doctrine of sus- 
tainable development. 
"Nowadays, if you want to 
interest the PM in a project, 
you’d better make sure it has 
a green theme," confides 
Florence Tan, the managing 
director of Suria Eksklusif, 
the company that is develop- 


ing a $6 billion theme park 
in Kedah, a state in the 
northeast of peninsular 
Malaysia. 

Malaysia now takes its in- 
ternational environmental 
responsibilities very serious- 
ly. After quibbling over the 
terms, it will sign the Mon- 
treal Protocol on phasing out 
ozone-gobbling chlorofluo- 
rocarbons. After pointing 
out that few developing 
countries have anywhere 
near as much area under for- 
est, Kuala Lumpur has nev- 
ertheless cut back logging 
and pledged that half the 
country will remain under 
forest cover forever. 

Malaysia is making it 
worthwhile for private com- 
panies to play the leading 
role in environmental man- 
agement. Last year, Indah 
Consortium was awarded a 
28-year concession for the 
operation of the country’s 
entire sewage system, indah 
links the Beijaya Group with 
Britain’s North West water. 
It plans to spend over S2 bil- 
lion on what is the county’s 
largest privatized project to 
date. 


“As you know, we don’t 
really treat sewage in 
Malaysia," Mr. Mahathir ad- 
mitted to reporters when he 
signed the contract with In- 
dah. Indah is not taking over 
a national sewage system; it 
is cobbling one together 
with the assorted pipes and 
plants it has acquired from 
local authorities. 

Indah was aware of the 
scale of the challenge. Be- 
fore making an offer for the 
network, Indah picked it 
over for six months. “We re- 
alized then that we would 
have to refurbish the sys- 
tem," says David Chew. In- 
dah* s managing director. 

The award to Berjaya 
came as no surprise. Mr. 
Mahathir likes hyperambi- 
tious entrepreneurs with a 
can-do mentality, and Ber- 
jaya’ s Vincent Tan personi- 
fies the breed. “I would like 
to build a business like Ko- 
rea’s Samsung or Daewoo 
or Hyundai,” says Mr. Tan, 
a 41 -year-old former insur- 
ance salesman who has par- 
layed a McDonald's fran- 
chise into a group of 180 
companies. 



intact and serves 


as a sanctuary 


Also entrusted to private 
hands is the country's first 
centralized toxic-waste man- 
agement facility. This 575- 
million project at Bukit 
Nanas in the state of Negri 
Sembilan. with its related 
storage and feeding stations 
in the regions, will be a boon 


to manufacturers. Electron- 
ics companies, particularly, 
have complained about the 
absence of a proper dump. 
They have had to store nox- 
ious substances on their 
premises - or ship them to 
toxic-waste plants abroad. 

The Bukit Nanas plant. 


owned by Kualiti Alam, 
should be up and running by 
the end of this year. Kualiti 
Alam is a joint venture be- 


How One Company Is Riding the Telecommunications Wave 


Over the last four years. Tech- 
nology Resources Industries 
Berhad has grown from a small, 
local electronics company into 
one of Malaysia’s fastest-grow- 
ing companies. 

Although it was founded nearly 
30 years ago, TRI did not catapult 
into double-digit growth .until - 
7990, when it merged, with a 
small nft 0 bite-phdne.J?i|sine$s\ 
called Cellular Ck>mmumcation$ - - 
Network (Celcom), recently pri- 
vatized by-ffre government ih a ' 
spirt from Telekom Malaysia. 


Under the leadership of Chair- 
man Tajucfin Ramii, TRI is cur- 
rently involved in a wide variety 
of business ventures, including 
mobile phones (Celcoro), heli- 
copter charter (Malaysian Heli- 
copter Services), maritime ship- 
ping, property development, plas- 
tics and box manufacturing. 

TRTs latest venture is a 32 -per- 
cent, stake is Malaysia Airlines; 
obtained last December. Mr. 
Tajudm expected to take over 
ds'cbalrna&D the airline in the 
next feW months: 


Despite the airline deal, com- 
munications is still TRTs core 
business. Celcom has grown phe- 
nomenally since its split from 
.Telekom Malaysia, the national 
telephone company. The original' 
. target was to secure 3,000 mo- 
bile-phone subscribers during die 
first year of operation, but the fi- 
nal figure was closer, to 8,000. 
Within , two years, Celcom was 
enlisting 6,000 new customers- 
each month. By August 1993, the 
new customer figure had reached 
16,000 per monttL 


Mobile-phone demand contin- 
ues to expand at a brisk pace. As 

• a result, Celcom has accelerated 
.its capital investment program, 
already m excess of $312 million. 

. Some $H7 million was set aside, 
for new capital expenditures in 
1994, but management is looking 
at new numbers in excess of $195 

• million to. cater to the expanded 
customer base and Implement 

. newsenriccs- 

" By the end of last year. Celcom 
had more than 200,000 siib- 
scribeis more than two-ihirdstif 


the Malaysian mobile-phone 
market. The company forecasts 
350,000 customers by 1996 and 
one million by the turn of the cen- 
tury. 

TRI is also expanding overseas. 
In 1992, the company launched a 
joint venture with Cambodia’s 
Department of Post & Telecom^ 
munications to develop a national 
cellular communications grid:;: 
With a 70 percent stake, TRI esti- ■ 
mates that it will invest $30 mil- 
lion in the'CambodiafHtject'' . 

Joseph R. Yogerst 


tween Denmark's I. Kruger 
and two Malaysian compa- 
nies. Arab-Malaysian De- 
velopment and UEM. 

Selling off environmental 
services, for instance 
sewage and toxic-waste dis- 
posal, makes good sense. In 
an increasingly prosperous 
county like Malaysia, con- 
sumers are prepared to pay 
for a cleaner environment. 
Companies like Indah Con- 
sortium and Kualiti Alam, 
by engineering a safer envi- 
ronment, can make good 
profits - and pay taxes to the 
government. 

. Proper pricing is another 
principle that is making its 
way into the forest, driving 
up the value of shares in tim- 
ber companies. More impor- 
tant, it is giving them the in- 
centive (and the cash) to in- 
vest in state-of-tbe-art 
wood-processing plants. 


wildlife. 


To conserve the forests, 
the government is cutting 
back on log exports and log- 
ging quotas. This drives up 
the price of logs, encourag- 
ing timber companies to add 
the most value they can to 
(heir dwindling quotas. 

Log exports, most of 
which go to Japan, dropped 
by half last year. Industry 
exports, however, were up 7 
percent, to around $4.1 bil- 
lion — with furniture exports 
up one-third to $881 million 
ringgit ($326 million). 

Kuala Lumpur banned log 
exports from peninsular 
Malaysia in 1985. Come 
1996, it will stop log exports 
from Sabah. The neighbor- 
ing state of Sarawak, which 
currently accounts for 75 
percent of Malaysia’s log 
exports, is expected to halt 
shipments of logs by 2000. 

SLA. 



ake a closer look at our new models and 
you might notice the ‘green spots’. 



pcrfornuncc.Voinfort M 

Rtf while we make our cm safer for you, 
we also believe they should be safer for the 

6,1 Th«e m gre« spots are a serious concern 

sSEris? k- 

led to these improvements. 


• Reduced CFCs. id the manufacturing 
process and in the new air conditioning 
system. 

• Optimised fuel usage. An electronically 
controlled Engine Emission System 
drastically reduces polluting gases. 

• Asbestos elimiaated. The entire car 
is made with B8bestos-free materials. 

• Fully recyclable parts. Many body 
components are stamped with material- 


identification number, for easier recycling. 

So while it may be fast becoming a 
global concern, at PROTON, ’green' has become 
part of our corporate character. 


ours i» . hK . Fully recyclable parts. Many body . 

ifonment-fnendly. Jfhat y components are stamped with material- fcrusohocn Otomobtf Nasional Dcrhad 

tolhesei j^anufktoerof the Makysian National Car 

00 , 7100 , 40918 SelaiigorDiral Ehsai. Malaysia. TtL- 603-51 1105i TWex: PROTON MA3S543. Tdefia:fiOJ-3 1 1 1232- 

41C0M Iwtastrai Estate. A 801 ■ 



THmtM Mabjnia 

(Mmistry of Cmttmrr. Artr tr Tpniml 

24-Xth Fleer. Mmtn Deb CW. 

Fain WtHJTnbOnnr.IrbarmKPaml. 
HUSO fcjrfh Lhmhi' Tit' U3-29J5IIU 
TrierMTDCUMA JWSJ fu (U-.BUMM 


TOURISM' 

MALA 






Page 16 


. * 



ADVERTISING SECTION 



Communications 
Sees High Demand 


A 


4 . 


s in many of the 
rapidly growing 
economies in 
Southeast Asia, 
the telecommunications in- 
dustry in Malaysia is boom- 
ing, barely able to keep pace 
with singing demand among 
both business and home 
users. 

Across the board. 
Malaysians are hungry for 
more telephone technology 
and better communications 
infrastructure. The challenge 
to convey voices and data is 
even greater in Malaysia 
than some neighboring 
states because of the vast 
distances involved and be- 
cause much of the country is 
covered with forest and 
mountains. 

Malaysia, however, is 
catching up fast Following 
the privatization of Telekom 
Malaysia in 1987. the gov- 
ernment has continued to 
liberalize the industry, al- 
lowing for the introduction 
of competition in all seg- 
ments of telecommunica- 
tions. 

Rashdan Baba, executive 
chairman of Telekom 
Malaysia, says this new 
phase is favorable to indus- 
try. customers and the nation 
as a whole. “Huge invest- 
ments are being channeled 
to satisfy anticipated growth 
in demand as well as to gain 
a strategic share of the mar- 
ket,'' he declared at a nation- 
al business conference last 
fall. 

Indeed, both local and for- 
eign investors are flocking 
to (he Malaysian telecom- 
munications sector. The 
Ministry of Energy, Trans- 
portation and Posts esti- 
mates that more than 16 bil- 
lion ringgit ($5.9 billion) 
will be invested in switches 
for local, long-distance and 
international networks, cel- 
lular and satellite networks. 


and software and manage- 
ment systems over the next 
five years. 

“A well-developed tele- 
communications infrastruc- 
ture will give Malaysia an 
added advantage to increase 
economic competitiveness 
in the long run," says 
Thomas Nilson. Jr., group 
managing director of AT&T 
in Malaysia, adding that the 
Malaysian government has 
already laid the groundwork 
to encourage foreign invest- 
ment in technology-driven 
industries. 

Mr. Nilson thinks the 
biggest challenge ' for 
Malaysia's telecommunica- 
tions industry is the develop- 
ment of infrastructure that is 
able to support the country's 
vision to be a self-sufficient 
and firlly industrialized na- 
tion by the year 2020. 

“Businesses and industries 
are growing at a fast pace," 
he explains. “Demand for 
superior and efficient com- 
munications services, as 
well as innovative and cost- 
effective systems and prod- 
ucts. will go hand in hand 
with this development.” 

Telekom Malaysia is giv- 
ing priority to network de- 
velopment. Major accom- 
plishments to date include 
the recent completion of a 
nationwide digital transmis- 
sion network and a support 
system for future long-dis- 
tance capacity that provides 
diversity in the trunk mi- 
crowave system to cushion 
the impact of system fail- 
ures. 

Providing ordinary tele- 
phone service continues to 
be the primary goal of 
Telekom Malaysia. There 
are currently 2.3 million 
telephone access lines in the 
country, amounting to 12.3 
percent penetration, an in- 
crease of 4.3 percent since 
privatization in 1987. Since 



Tourism Courts a Wider Market in ’94 



There is competition for all segments of telecommunications. 


then, growth of direct lines 
has exceeded 14 percent per 
year. 

The private sector is also 
helping. Celcom. the na- 
tion's largest mobile-phone 
company, recently installed 
a $40 million microwave 
network to ease line conges- 
tion problems that were af- 
fecting the nearly a quarter 
million cellular-telephone 
subscribers. A nationwide 
fiber-optic network is being 
constructed by Time 
Telecommunications to pro- 
vide the foundation for ad- 
vanced intelligent network 
services. 

In addition, Malaysia is 
no,w moving into the global 
satellite business. One of 
Celcom's sister companies 
has entered into a joint ven- 


ture with an American com- 
pany to launch Russian- 
made satellites for commer- 
cial purposes. The first 
launch took place in Siberia 
last November. Meanwhile, 
Binoriang Network has been 
given government approval 
to launch a Malaysian- 
owned and -operated satel- 
lite next year to provide core 
data communication, tele- 
phone links to remote areas 
of Malaysia and television 
service. 

“It takes nimbleness, flex- 
ibility and responsiveness 
for businesses to succeed in 
the global marketplace.” 
says Mr. Nilson. “Helpful 
and reliable global network- 
ing systems will assist them 
in doing just that." 

J.G 


alaysia is al- 
ready well on 
its way to be- 
coming one of 
the leading industrial pow- 
ers of Southeast Asia. But 
the country has also found 
another way to stimulate its 
economy: tourism. In less 
than a decade. Malaysia has 
gone from having practical- 
ly no organized tourism to 
being one of the most ag- 
gressive holiday marketers 
in the Asia-Pacific region. 

Malaysia may have en- 
tered the tourism market lat- 
er than its neighbors, but it is 
quickly making up for lost 
time. Last year, the country 
welcomed 6.45 million 
tourists, and tourism earn- 
ings reached $1.7 billion, a 
15 percent rise over 1992. 

This year, the government 
hopes to earn $1.8 billion 
from 7 million tourists. Ac- 
cording to Sabbaruddin 
Chik. minister of culture, art 
and tourism, the number of 
visitors is expected to grow 
between 7 percent to S per- 
cent yearly for the rest of the 
decade, reaching J2.5 mil- 
lion arrivals by the year 
2000. 

“Malaysia is comparative- 
ly new in tourism,'’ says Mr. 
Sabbaruddin. “For quite 
some time, we relied on 
commodities - tea, rubber, 
palm oil, petroleum - and 
manufactured goods." 

The government only be- 
came concerned about pro- 
moting tourism after the col- 
lapse of several important 
commodity markets in 1986, 
a circumstance that caused 
Malaysia’s growth rate to 
drop to minus I percent. 
Tourism was identified as an 
encouraging growth area, 
but Malaysia faced severe 
competition from other 
well-established regional 
destinations like Hong 
Kong, Singapore, Thailand 
and the Philippines. “We 
were struggling " Mr. Sab- 
baruddin admits. 


Infrastructure was a major 
problem, especially the lack 
of modem airport facilities 
and international-standard 
hotels. Few Malaysians 
seemed interested in nurtur- 
ing tourism beyond the re- 
gion. Meanwhile, Western 
knowledge of Malaysia was 
scant. “We had to tell people 
that we were north of Singa- 
pore, southwest of Viet- 
nam." Mr. Sabbaruddin 
adds. 

Still, the choice was clean 
Malaysia could let tourism 
creep along at a snail’s pace 
or push it into the fast lane. 
“Tourism is like a tree," says 
Mr. Sabbaruddin. “Left 
alone, die tree may survive. 
But with fertilizer, it will 
bear more fruit.'" 

The first dose of fertilizer 
was the formation of the 
Ministry of Tourism seven 
years ago. That was quickly 
followed by Visit Malaysia 
Year 1990, a special pro- 
gram to give the tourism in- 
dustry a*shor in the arm. It 
bore fruit: With a global pro- 
motion and advertising cam- 
paign, Visit Malaysia Year 
'90 brought a record 7 mil- 
lion people to the country. 

In fact. Visit Malaysia 
Year was so successful that 
tourism authorities decided 
to stage another one this 
year. Six places have been 
identified for special empha- 
sis during Visit Malaysia 
Year 1994: Kuala Lumpur, 
the nation’s capital; the re- 
sort island of Langkawi; 
Mount Kinabalu in Sabah; 
the Dutch colonial town of 
Malacca; and Lhe national 
parks at Taman Negara and 
Mulu. 

In addition, different types 
of tourism activities are be- 
ing singled out. including 
adventure, ecological, agri- 
cultural, sports and educa- 
tional tourism. 

Some of the categories 
may seem unrelated to the 
holiday industry - education 
and agriculture in particular 


- but the Malaysians have 
devised unique ways to 
bring these activities into the 
realm of tourism. 

“By encouraging people 
to study here, we get some- 
thing like a tourist staying 
here for 365 days a year," 
says Mr. Sabbaruddin. “The 
student may not spend like a 
tourist, but he still has to eat 
and needs transport, etc. The 
families of the students will 
also come here for visits.” 

Agro-tourism is seen as a 
natural progression from 
Malaysia's nature-based 
tourism products. At the re- 
cent PAT A Adventure Mart 
in Lahore, Pakistan, 
Malaysia’s ministry of agri- 
culture extolled the wonders 
of Malaysia's agricultural 
parks, plantation tours and 
similar attractions. 

“We feel that there are lots 
of people who are interested 


well on its way to position- 
ing itself as a major golf 
center. The current total of 
[50 golf courses is sched- 
uled to be increased to more 
than 200 by the end of the 
decade, including six fully 
lit night courses. 

Overall, there are 36 pro- 
motions planned for Visit 
Malaysia Year 1994, includ- 
ing two international events 
designed to highlight 
Malaysia's natural beauty. 

French-based Objectif At- 
lantide will move out of Eu- 
rope for the first time ever, 
with a Scuba Dive Treasure 
Hunt off the coast of 
Terengganu in May. Twen- 
ty-five teams (including five 
Asian squads) will partici- 
pate in the hunt. Then in 
September, Sarawak will 
host a Raid Gauloises non- 
mechanical adventure event 
- although details of the 


i 





■*-. - 


in agriculture,” Mr. Sab- 
baruddin explains. “Some 
people are even prepared to 
go fishing, or at least go to 
the fishing villages to enjoy 
the atmosphere and learn 
about the life of a fisherman. 

“We are also encouraging 
sports tourism ” he contin- 
ues, waving a list of 26 dif- 
ferent sports. “Golf, hockey, 
basketball, even chess - we 
are becoming known as the 
chess center of this part of 
the world." Malaysia is also 


event are being kept top se- 
cret, 

Domestic tourism is an- 
other area that Mr. Sab- 
baruddin and his staff are 
emphasizing. Cunent occu- 
pancy rates indicate a 55:45 
split between domestic and 
foreign tourists. 

To stimulate domestic 
tourism. Mr. Sabbaruddin 
says that Malaysians must 
overcome the sentiment that 
“foreign is better" when it 
conies to holidays. J.C 


.* *'* •• • •• 1 \i •• .s X " " 

t . i s , ■ ■■ 

tbffv; 

****** i i'C 2 


BERJAYA GROWS IN TANDEM WITH MALAYSIA 


T7T^‘ 


^ • Execati^ H ' 


S'iSvft. 




BERJAYA 

Strength In Diversity 


T he Berjaya Group of Companies’ history dates back to 19S4 when 
our current Group Chief Executive Officer Tan Sri Daco’ Vincent 
Tan Chce Vioun acquired a major control of shareholding in Bcrjaya 
Industrial Berhad. 

Through his entrepreneurial leadership, the Group has been transformed 
into a diversified entity through partnerships, acquisitions, joint ventures and 
new sun ups. 

The track record from 1984 reflects Tan Sri Dato' Vincent Tan’s vision 
and stewardship. The Group’s financial growth over the past 9 years are 
highlighted below: 


- r »,t * i # 


. ' \ Ja. recem/yeitv Mabysra-'s 

ftora reany 2; 

• v : • management bv otT gcnvmnteri^ j^v • ^ 

country's 

• s^ptkforoe />•“ 


• v ; ftvouraok : diraifo • • " ‘ : 


^ aiw ■qnotr. y r= 

E dropoff 

• v lQng-t«m pritcWtWL .•••' . • V-v.-;. ‘A 

9 r *9fentto ' 



Berjaya Air Sdn Bbd is a multi-service air charter 
company, that facilitates transportation for leisure 
or work. 

For a membership tee of RM 12,000, Berjaya 
Vacation Club Bbd offers holidays, locally and overseas, 
for seven nights a year for 38 yean, in addition to its 
affiliation with Resort Condominiums International. 


GAMING 


In 1969, Sports Toto Malaysia Sdn Bhd was 
incorporated to tun the toto betting business which 
was essentially the Government’s effort to raise funds 
to promote and develop sports, youth and cultural 
activities. 

Since privatisation in 1985, sales of Toto betting 
tickets have increased by over 700%. Sports Toto 
Malaysia has over 700 outlets throughout Malaysia. 


in producing corrugated carton boxes, industrial 
packaging and printing. South Island Plastics Sdn 
Bhd manufactures plastic bags and sheets. 

LeRun Group Industries Berhad manufactures 
and sells bicycles. 



tope 




i. ?■ 


;y .v.- . v> ip.- • * \ 

“We viw ro dcyctop our exxte' * ' 

V kusfoesses agd eespdod •’ 


K ; Nr * 


v ccfnrjBuc. tp piiteuc-r, j; 


; o#* &fc|lays43 jtmr hwfc t&r haw interna 
•yriomJ to tis arid giw* 

. //• '•> - ,y. 


A few of the operating companies include: 


CONSUMER MARKETING 


Today, Singer Malaysia Sdn Bhd is the largest, 
longest-established distributor and retailer of consumer 
durables with the widest canvassing network. 

The Catalog Shop Sdn Bhd has evolved from a 
direct mail to one-stop retailing centre that offers a 
wide range ofquality furniture and dcorical products. 

Unza Group of Companies' operations today 
encompass manufacturing, marketing, sales and 
distribution of a comprehensive range of quality, 
branded toilenics and household items. 

Texan (M) Sdn Bhd markets a full range of 
men’s apparel locally, and Cartel Corporation Sdn 
Bhd, ladies' apparel. 

Berjaya Sound Entertainment Sdn Bhd 
produces karaoke films and songs. 

Homevideo Network (M) Sdn Bhd, is the 
authorised home video distributor for Warner. Walt 
Disney, Sesame Street and Columbia Tristar. 

Cosway (M) Sdn Bhd is involved in the direct . 
selling of a wide range of costume jewellery, cosmetics 
and health supplements through Hs 60,000 distributors. 

Rapid Computer Centre (S.E.A.) Sdn Bhd 
develops and markets its ow-n brand of children’s 
educational computer software. 

T 


LEISURE 


Bukit Kiara Equestrian & Country Resort is 
the group's first wholly-owned recreation dub with 
equestrian facilities, Kelab Daml Ehsaa, a 70-acre 
9-hole golf and recreational dub, StafSeld Golf & 
Country Club, a 340 -acre suburb project and Bukit 
Jalil Golf & Country Resort to be an 18 -hole golf 
cum recreational dub. 

Berjaya Tioman Beach Resort has 207 acres of 
parkland with a beautiful golf course. 




x* . • < T«* SfttDOtV VtNCEg.TA.9 CHEJiYgKW. 



Singer Baujisar Showroom 


Berjaya Tioman Beach Resort, Tioman Island 

Rcdang Island will be developed into 2 integrated 
tourist cum holiday resorts to be known as Berjaya 
Rcdang Country & Golf Resort, and Berjaya 
Rcdang Beach Resort 

Berjaya Langkawi Beach Resort, a natural - 
tourist beach resort sprawls over a 70-acrc site on 
Burau Bay, Langkawi Island. 

Internationally, it has tw'o choice properties in 
the South Pacific, Berjaya Hotel in Suva, Fiji and 
Berjaya Beach Resort & Casino in Mauritius. 

In Kuala Lumpur, exquisite Oriental restaurants, 
Tsui Hang Village Restaurant, Oriental Peart, 
Fortune Courts, Hanafd Japanese Restaurant and 
Jewrcl in the Crown, a North Indian cuisine 
restaurant, were set up. 

Inter-Pacific Travel & Tours Sdn Bhd conducts 
tours, ticketing and foreign exchange through its 
outlets. 


PROPERTY 


The Group has over the years successfully 
acquired prime commcrrial buildings located in Kuala 
Lumpur: Kota Raya Shopping Complex, Plaza 
Berjaya, KL Plaza and Wisma Stephens. 

The Group currently owns and develops vast 
tracts of development land in Malaysia: Pines 
Condominiums, Petaling Indah Condo miniums , 
Robson Condominiums, Ixora Apartments, 
Menara Green view and Sri Paga n gan Kuan tan 
Business Centre, a 45-acre residential cum 
commcrrial development. Others include Sri Pelangj 
Apartments, Taman Kinrara, Tioman Horizon 
Condole! and Taman Cemerlang. Berjaya Green 
Development Sdn Bbd, a landscaping and golf 
course development company, manages 3 golf resorts, 
Tropicana Golf & Country Resort, Bukit Trnggi 
Golf & Country Resort and Bukit Banang Golf 
& Country Club. 

Tile Group is involved in the construction 
business through Bridgeton Engineering Sdn Bhd. 


INDUSTRIAL 


The Group has one of the largest vertically 
integrated tevrife groups specialising in yam. knirted 
fabric and casual knitwear for internationally- renowned 
brands. 

Singer Furniture (Malaysia) Sdn Bhd 
manufactures and sells timber-based furniture fur 
domestic and international markets. 

Finewood Products Corporation Sdn Bhd 
produces and sells fumirurc and timber-related 
produces, with a significant exporr marker. 

Lionvest Corporation Bhd is involved in 
logging and timber related operanuns. 

Shinca Sdn Bhd assembles electronic and 
electrical items for leading brands. 

Topgroup Holdings Bhd manufactures 
domestic and commercial air- conditioners and 
accessories. 

Inter-Pacific Packaging Sdn Bhd and South 
Island Packaging (Penang) Sdn Bhd, are involved 


Manufacturing of air-conditianrrs 


FINANCIAL SERVICES 


In March 1991, Inter-Padfic Capital Sdn Bbd 
was formed as a result of the merger of Inter-Padfic 
Securities Sdn Bhd, Eng Securities Sdn Bhd and 
United Traders Sdn Bhd. 

Berjaya Prudential Assurance Berhad, a joint 
venture with Prudential Assurance Co. Ltd, Britain, 
provides life insurance services and is presently among 
the top 10 in the Malaysia life insurance industry. 

Bcijaya General Insurance Sdn Bhd, a joint 
venture with The Tokio Marine and Fire Insurance 
Co Ltd, Tokyo, is one of the top 10 and fastesr- 
expanding general insurance firms. 



Inter- Pacific Securities Sdn Bhd's trading fioor 


NEW VENTURES IN THE 

far east and beyond 


Berjaya Group will be investing up m USS 100 
million on various projects in China including the 
opera non <>l j computerised welfare lottery in 
Guangzhou, Shenyang. Chengdu and Dalian under- 

t Lotttr y Management <HK) Lrd. 

In the Philippines, Berjaya has been selected to 
operate a computerised lottery system in Luzon. 

Be nay a Lottery acquired a 40% stake in 
i Towhzaror Systems, Inc (ITS), a 

L iNAiDAQ quoted company involved in the 
^r"m tl T nS com P UIeri «d ticket issuing 
manaeCment of on U ne lotteries. It also 
has a 43.8% interest m Wing Hung Kee Holdings, 

m Hon^^ng VCitmCnt h °' dinS 

Berjaya has recently secured .Asian- Pacific rights 

buUd n u n n , C , V r n th r thc C ’ mUp ’ S w eventually 

c^nn P . P mrcrnarionaJ duun of hotels and 

HoreL n Cq T d 3 hotel >- Mahc Beach 

Hold b 3,1 w- Ba : v . Hotd and Praslin Beach 
Hotel in the Republic of Seychelles. 


BERJAYA GROUP BERHAD • BERJAYA INDUSTRIAL BERHAD • BERJAYA LEISURE BERHAD • BERJAYA SINGER BERHAD ' BERJAYA SPORTS TOTO BERHAD 

For further information, please contact Group Investor Relations, Level 16 Shahzan Prudential Tower, 30 Jalan Sultan Ismail, 50250 Koala Lumpur, Malaysia. Tel: (6)03-2422622/2423155 Telex: MA32411 BCBKL Fax; (fiwv? n a a iia 

■ ■ ■ - , - — - 





5 k 


rt\ <C.. 
U 

V NT-' 

1 ' • **■ 

\ V. ' 

\ : G- 












ijjyEBfis SB 



tKET in • 



center T-v. . * 

ti,Ww •■ *■*« - ‘ ' 


! S , r< " .' • ■• r. i 


►,. Ha 

UESs !r ~^,r;s 

oc^r/f- ■ K * 


« r:u?!i-:»r^ J, V V, - 

"Pi* i :.: -r-. . ’*■ ,r HM 


'•?* i ; 


'U'.J 1 

41 


r iK r M , 

rV: lfc .-.; v ;:7 

jui^:SuL* 


la * U . • ■ 

; 

- V. ; 


"A > r - .7 ■ ■ 

v.- lr.. - 


■"a 1 

Tie 


i ; . ... „r \ 1 ''^.W 

~ — ■ 'U • ;• : 'iif 

p.sltf !- !•■ . , IJ1 "" 


^rl.J : \ 
n<-: ^ r!... 


1 ill I' 


;••< in 
! * ■»!„ 
'"L 


■“■ • ;i, urc f 


'•tit 



ist Ft.:. 


.1 ptru.::* f-r u 

torurma; m.iri-f. ;n iw: 
land and Tar- 

i- A«a-: ■. •- T-i. .i _. 5 

. * , . • "*■ **y fThff- t 

> ydlSi thy ionjc*: i; eriM \ 
)’■- Britn.r. r ^uo i ur-i s 
tdax«;. * 

| 

:■ $ 

- •vr» i.c - 


■- c%=.r. . 

.0 

“ > • , 
*.• J - ! 

ii v\": m 




-n ■* 

> 'i- : . 


■ k • i.*.** 





** 



£./ .'■a.V.V . .. 

*- ^<*4''V , S ■ ,»■* ^ 


International Herald Tribune, Tuesday, March 22, 1994 


m *** 



Page 17 



THE TRIB INDEX 112.380 

International Herald Tribune World Stock inrip* pi mmrwnTni 
120 



100 


World Index 

3/21/34 clcsc: 1 12.38 
Previous: 113.38 


go ■■ t. ,c i ..■ 't, i _t_ 


o 

1993 


Asia/PacJffc 


Appf ax. waiting: 22% 
Close.- 127.42 Prev: 128.66 


M 

1994 


150 
140 
130; 

120 - 
110 ■ 

100 

90 ' " "" 


Europe 


Approx, wenjhtng; 37% 
Close- 11Z27 Preva 11269 






ondjfm ondjfm 

1W 3 1994 1993 1994 


North America 


Latin America 


if 


150 

140 

130 

120 

110 

100 

90 



1994 


1993 


1994 


„ 1«3 

Woild Index 

The Index tracks US. dotar values of stocks in: Tokyo, New York, London, and 
Argentina, Australia, Austria, Belgium, Brad, Canada, Chile, Denmark Finland, 
France, Germany, Hong Kong, Inly. Ifaxtoo, Netherlands, New Zeatand. Norway, 
Singapore. Spain. Sweden, Switzerland and Venezuela. For Tokyo. New York and 
London, the index Is composed erf the 20 top issues in terms of market captta&zauon, 
otherwise the ten top stocks are tracked. 


1 Industrial Sectors "1 


Boa. Pm*. i, 

don don chngs 


Mon. 

don 

Pm. % 

don dungs 

Energy 

111-90 112-81 -0.B1 

Capfai Goods 

11433 

11435 -0.19 

UtiEties 

123.76 126.71 -2^3 

Raw Materials 

121.63 

12111 -1.04 

Rnanco 

115-32 116.44 -096 

Consuner Goods 

99.11 

99.38 -027 

Services 

11011 119.77 -1J9 

Uscefianeods 

126.08 

12728 -1.48 

For more infomwifon aixxii the Mat, a booklets avaflaMefrae of charge. 

Write to Trib Index. 181 Avenue Charles deGauBe. 92521 NetaBy Cedex, France. 


Tobacco Companies Look East 

Cash-Hungry Governments Are Light on Restrictions 


By Barry James 

International Herald Tribune 

PARIS — Tobacco Road may have devel- 
oped some potholes in the West, but it is still 
paved with gold in the East 

Although the tobacco market is stagnating 
or shrinking in most industrial countries, cig- 
arette manufacturers are making up by ex- 
panding in the rest of the world. Since the fall 
of Communism, the bulk of their invesunou 
has been in Eastern Europe. 

Philip Morris Cos. and RJ. Reynolds To- 
bacco Co., of the United States; BAT Indus- 
tries PLC of Britain; Reemtsma Ggarttten- 
fabriken GmbH, of Germany, and other 
companies have started more than two dozen 
joint ventures in the region and committed 
more than $1.5 billion in investments since 
the fall of communism. The Eastern market, 
which consumes more than 700 billion ciga- 
rettes annually, is 40 percent bigger than the 
U.S. market. 

BAT last week became die latest tobacco 
multinational to announce a jump in profits, 
thanks in large part to expansion in eastern 
Europe. 

A spokesman for BAT said majority share- 
holdings in cigarette factories tn Hungary 
and Ukraine had quickly proved profitable. 
The company also is eying opportunities in 
the virtually linriilesB Chinese market, where 
the annual consumption of 1.7 trillion ciga- 
rettes is about a third of the total smoked in 
the world. 

Operations of the tobacco giants in those 
areas do not run up against the kind of 
extensive anti-smoking lobbying that occurs 
in the United States and Western Europe. 
For example, the U.S. military and the state 


of Maryland both recently announced a ban 
on smoking in all public and work places, and 
the New York city council is considering 
doing the same. The federal government is 
proposing an increase in taxes on cigarettes 
to help pay for reform of the health care 
system. 

In Eastern Europe, governments are eager 
for hard currency investments and place less 
emphasis on the health rides of smoking. 

Even before the Marlboro Man rode onto 
the scene, rates of smoking-related disease in 
Eastern Europe were high. 

“Lung cancer rates already are off the 
scale, higher than anywhere else in the 
world," said Alan Lopez, an epidemiologist 
at the World Health Organization in Geneva. 




*tot&ifn$fon in pacorir-';.; 


..ir'/iTal 

'.y. jkjV.’’ 

6.7 

tii H 1 

L.B 






lmansDonl HenUTnMK 


The rate of premature rie^c directly at- 
tributable to tobacco is set to soar. Mr. Lopez 
said. “Everything is in place for an epidemic. 
It is going to happen unless there is a dramat- 
ic cessation in smoking." 

The Tobacco Institute, which represents 
the U.S. industry from Washington, refused 
to answer a question about the overseas ex- 
pansion of the American manufacturers. A 
spokesman for Philip Morris said the compa- 
ny’s expansion in some markets bore no rela- 
tion with contraction in others. “We have 
been established abroad for 40 years and we 
follow our own strategy,” the spokesman 
said. 

The Western companies have set up joint 
ventures with existing companies in several 
Eastern European countries, giving them 
control of popular and affordable local 
brands. 

The companies also promote their own 
brands in advertising mw»i at young profes- 
sionals, blatantly suggesting that smoking 
Western cigarettes wm make them sophisti- 
cated, popular with the opposite sex and 
successful. The introduction of “light,” or 
low-tar and low-nicotine, Western cigarettes 
has led to a huge increase in smoking among 
women, according to the health experts. 

“Cigarettes arc an easy image-building 
product,” said Luk Joossens, director of the 
European Bureau for Action on Smoking 
Prevention, based in Brussels. 

When health officials curbed some of the 
more blatant tobacco advertising in the 
Czech Republic, Mr. Joossens said, a coali- 
tion of advertising agencies ran a counter- 

See SMOKE, Page 19 


IMF and Moscow Hit Logjam on Loan 


O I nt ern a tional Herald Tribute 


Compiled by Our Staff From Dispatches 

MOSCOW — Russian officials 
and the International Monetary 
Fund failed to make progress Mon- 
day on a S1J billion loan as Michel 
Camdessus, IMF managing direc- 
tor, lashed out at Moscow for ex- 
cessive spending. 

In an unusually candid addr es s, 
Mr. Camdessus said the govern- 
ment must take “urgent action” to. 
stop printing money to finance the 
budget and to wean enterprises 
from state funding, allowing them 
to close if necessary. 

“The talks have gone nowhere 
due to the IMF’s nonconstructive 


attitude,” Itar-Tass news agency 
quoted a Russian official as saying. 

The $1 5 billion loan, the second 
installm ent of a S3 billion fund 
package designed to speed the tran- 
sition from communism to capital- 
ism, is of symbolic importance to 
Russia. When it is cleared, Russia, 
which has already received $25 bil- 
lion from the IMF, may win a 
standby loan of $4 billion. 

“High inflation has seriously 
hurt the R ussian economy and so- 
ciety, prevented the recovery of 
production and pushed back pros- 
pects for growth in living stan- 
dards,” Mr. Camdessus said in a 
spe ec h at the Moscow Finance 


Academy. “This corrosive process 
must be stopped.” 

Inflation reached about 950 per- 
cent in 1993. 

The talks also focused on the 
proposed 1994 budget with Mr. 
Camdessus reportedly pushing 
Prime Minister Viktor S. Cherno- 
myrdin for assurances that budget 
targets can be met. Last year, reve- 
nue fell below the estimates while 
spending exceeded budget figures. 

Mr. Chernomyrdin postponed 
scheduled talks Monday with Mr. 
Camdessus and Dew to the Sack 
Sea resort of Sochi, where he met 
President Boris N. Yeltsin for con- 


sultations on the stalled Iran talks 
and other issues, Itar-Tass said. 

B ehin d the immediate implica- 
tions of the logjam on the loan, the 
talks were seen as a crucial measure 
of Moscow’s ability to fulfill prom- 
ises to oontinue economic reform 
and of the West’s readiness to help 
foot the bill 

The government has already 
pledged billions in fresh subsidies 
to various farming and industry 
groups while at the same time 
promising to keep month-on- 
month inflation below 10 percent 
and reforms an track. 

(AFP, Return) 


Foreign Cash 
Is Flowing Out 
Of Asian Stocks 


By Kevin Murphy 

Intermitonal Herald Tribute 

HONG KONG — A sudden 
withdrawal of overseas money is 
putting pressure on stock markets 
all over Asia, and only a large in- 
flux of local cash is seen as being 
able to stabilize prices. 

The Hang Seng index plunged 
more than 5 percent cm Monday to 
lead an Asia-wide sefl-off. For the 
fifth straight day, foreign-based mu- 
tual funds slashed their positions in 
the Hong Kong stock market, trad- 
ers said. The index closed aL 
8.667.03 on Monday, down 5.09 per- 
cent from Friday. The offshore mu- 
tual funds had been a major factor 
in the Hang Seng’s recent rally. 

After doubling in value in 1993, 
Hong Kong stocks lost 27 percent 
so far this year. They have been 
driven down by worries about ris- 
ing U.S. interest rates, an impasse 
between Britain and China over 
political reform in Hong Kong and 
nervousness that China s overheat- 
ed economy may be headed for a 
hard landing. 

“Hong Kong’s terrible run lately 
is dragging all the smaller regional 
markets down whether we like it or 
not,” said a Bangkok-based dealer 
with a British brokerage. 

Expectations for the Federal Re- 
serve Board to raise U.S. rates this 
week, perhaps even Tuesday, ech- 
oed in stock markets across Asia. 
The Kuala Lumpur index fell 5 JO 
percent Monday, with stocks in 
Bangkok losing 3.43 percent and in 
Singapore 322 percent. The Asia 
component of the International 
Herald Tribune World Stock Index 
fell 0.96 percent, to 127.42 Japa- 
nese markets were closed Monday 
for a holiday. 

Higher U.S. rates could curb for- 
eign appetites for the once high- 
flying markets. Last year was a re- 
cord year for most Aslan stock 
exchanges, and there are fears 
among traders that the foreign 
funds that drove the rally are shift- 
ing permanently to less volatile in- 
vestment areas. 

“Momentum investors drove this 
market last year,” said Kirk 
Sweeney, research director for Leh- 


man Brothers in Hong Kong, 
whose firm rated the local market a 

“sell” when it hit 12000. 

*The real catalyst for (he falls has 
from mmyi d funds s elli ng and 
□o buyingsupport from longer-term 
funds,” Nial Gooding, of Barclays 
de Zoete Wedd, told Reuters. 

The Malaysian index has lost 25 
— ent so far this year, with Thai- 
down 28 percent and Singa- 


percent 
land d( 


Interest-rate jitters drove down 
U-S. stock prices. Page 18. 

pore down 16 percent, despite gen- 
erally positive economic conditions 
and strong corporate earnings 
growth throughout the region. 

“Based on market fundamentals, 
the only market that should be hit 
this badly is the Philippines,” said 
Paul Schulte, with CS First Boston 
in Hong Kong, referring to the im- 
provement in Lhe price- io-eamings 
ratios of many Asian companies 
that have dropped 
“By now the potential rise in UJ. 
interest rates should be discounted,” 
he said. “Current levels these mar- 
kets. especially Hong Kong, are 
again looking reasonable." 

Chinese Inflation 
Surges to 20% 

The Assadated Press 
BEIJING — China said Monday 
that retail prices rose 20 percent in 
January and February from the 
similar period of 1993 in a serious 
worsening of the inflation that has 
plagued the country’s two-year-old 
economic boom. 

The official news media, which 
released the figure, did not gjve the 
urban inflation figure, which runs 
si gnifican tly higher than the na- 
tional average. In December infla- 
tion ran at 14 percent for the coun- 
try but at 23 percent in the cities. 

Many Foodstuffs in Beijing have 
doubled in price in die past few 
weeks. The government announced 
price-control measures last week 
on a range of base consumer 
goods. 


LAYS! A 





d t.y : 



; *VTV 


v>:. ~ 


« tv- 
■ * \ ■ 

UTS 

rnK; 


Ahead /Commentary 


Europe’s Needs Outweigh U.K.’s Fears 


By Reginald Dale 

International Herald Tribute 

WASHINGTON — As a Greater Europe 
begins to take shape, it is exploding a hoary 
fallacy — the belief that the longer the list of 
members, the looser the bonds of the Europe- 
an Union must be. 

The real world is not so tidy, as John 
Majors battered Conservative government in 
Britain is discovering to its cost 

Britain has long aimed to hobble the drive 
to European integration by rounding up the 
maximum number of players. The hope was 
that the admission of North. Central and 
East European nations would once and for all 
remove the threat erf a federal Europe to 
Britain’s cherished national sovereignty. 

Now, Austria, Sweden, Norway and Fin- 
land have completed negotiating their entry, 
and Britain has suddenly realized that the 
opposite could happen — that in a bigger 
grouping, each country’s sovereignty is likely 
to count for less. 

In an embarrassing and, one hopes, 
doomed rearguard action, Britain is ttyingto 
keep the weight it now has in blocking EU 
denrioos if and when the Union is enlarged 
from 12 to 16 members. 

This is only the beginning. Assuming Aus- 
i tria and the Scandinavian countries join the 
•feUnion, next in line will be the six Central and 
*East European nations led by Poland, Hun- 
gary and the Czech Republic. 

With Malta and Cyprus, the three Baltic 
states and possibly Slovenia knocking on the 
door, the Union could more than double, to 27 

or 28 states, in the not too distant future. How 

will Britain impose its will on the others then. 

Lome and common sense both point m the 
opposite direction. The more members there 
are, the less rational it is to allow small groups 


of countries, let alone individual govern- 
ments, to block decisions. 

As most of the other countries realize, a 
bigger Union wfl] require more, not less, of 
the kind of centralized decision-malting ih«t 
js anathema to Britain. 

Indeed, the Union can only benefit if Brit- 
ain’s negative a tt itudes can be more easDy 
overruled. Britain seems to assume h win usu- 
ally be in the minority, desperately seeking to 
restrain its more integrationist partners. 

But Britain is not the only one that is 


The EU can only 
benefit If the 
British government’s 
negative attitudes 
toward it can 
be more easily 
overruled. 


alarmed. Spain is concerned that outnum- 
bered Mediterranean countries will not be 
able to protect their agricultural interests and 
that there wfil not be enough money for the 
current poor member countries when even 
poorer countries in Central and Eastern Eu- 
rope are admitted. 

Greece has said the latest round of enlarge- 
ment is an error — which is ironic, consider- 
ing that most of the other members think it 
was a big mistake to admit Greece. 


Spain and Greece are right to be afraid. 
The balance in the Union is about to swing 
irrevocably from the Latin and Mediterra- 
nean South toward the North and East. 

Tlurt too will be good for the Union. With 
their protectionist, interventionist tendencies 
and tbdr constant demands for cash, the 
Mediterranean countries also are often a bad 
influence. 

The erne country that is n u kin g no bones 
about this is Germany, which wffl be both the 
most powerful and the most central country 
of Greater Europe. Many of the new entrants 
will be Germany's natural clients and allies. 

The frankest of German officials freely 
admit, in privax, that they wdcome the dOu- 
tion of the spendthrift Latin influence and 
the addition of countries more likely to sup- 
port German policies of free trade and eco- 
nomic discipline. 

That in turn, they say, should make it 
easier for the Bundesbank to share some of its 
power in a future monetary union. 

Much of this is potentially bad news for 
France; where Brihsb-styfe nationalism has 
also beta on the rise. But France has decided 
to yield to the inevitable and make the best of 
a wider Europe. 

Of course h will still be possible, even 
desirable, tat smaller groups led by France 
and Germany to push ahead more quickly 
than the rest — toward monetary union, for 
example. But there can be no going bade. 
Since last year’s Copenhagen summit, the 
Twelve are committed to opening the door to 
virtually all of Central and Eastern Europe. 
And it is likely to be sooner rather than later. 

It wifi be far more difficult than bringing in 
Austria and the Scandinavians. But fortu- 
nately it does not have to mean watering 
down the Union to suit British tastes. 


CURRENCY & INTEREST RATES 


Cross Ratos 


Amtlaikim 
■nnreU 
. Frankfurt 
. Landau (■) 

, Madrid 
.Milan 


$ I DM 

i5i me mm 

j(5K 51565 *U0 

ItM ISM — 
)jflS 1SSS 

awl a*® lira 

IrfJVJS VMS 9*U0 


nun 1.SWS 

NwYHttb) — }MSa 


Parts 
TMnw 
TwmId 
Z nrtck 
I ECU 
1 SDR 


ini US M7 


vp« itns uk* 

14*8 ZLS< MOI 

U3U >■** 

UHf &MH U® 

Oos inas in Amsterdam, London, 
rates otJpjn. 

a: To bur cm pevnd: b: To birr 
available. 

Other Dollar Vauws 

Corrtocv pw* 

cmkdroc 2CJ5 

hob* *»■* 

HUnU-fWWI HftTV 
Indian rw* 31 J5 

Indo-rtH** 

rnsBB wwi 

IsrnflsMfc. MB* 
KnwBHIdbiar M«a 
Maimr.rina. 7J2 


March 21 

m LH Ul U. S^- V«n CS Ponta 

urn* — 5455“ 13*7 W ua LD3« 

Wllffi J432 MU TUB H.HS* 

um use- UM U7K- «*• 

Sin vox um Sims ii» ran uus 
So »»■ Sun urn tun wm — 

r^UttOO un» MB *U7S UN UM 

um MB* ««* 

UM 45811 * 0718* uni* USfi J-®*’ ~ a ®’ 

|Ui UBS7* IXS *1111- 

MB ian vm £ tm jus 

UM su. Z4W ftn - ,n * 

Mm. York and Zurich, fix*** In other content Taranto 


Eurocurr«ncy Drapostts 




March 21 


Dollar 

D-Mmt 

Swiss 

Franc 

Starling 

French 

Franc 

Y«i 

ECU 

7 month 

3VMte 

jtlrSW, 

4tfr416 

5VWV. 


2 ^-2^ 

4Wv. 

3 months 

JtM'd 

SW* 

44M 

5M-5W 

M Vi 

2W.24k 

6 bte v* 

6 months 

4 Mr* tk 


Sft-6Y* 

5M % 


2 V6-2B * 

6 v r6 *n 

1 rear 

4Yw4 ¥. 


3fe4 

5WS 

5=6-6 

2 KrJ?. 

5 


Sources: RevtenUaYdsBonk. 

AOM rumOaobte to Interbank damns otst rnWlen nWmrm foraeuMmdi. 


Key Money Rates 


poUar: Units of 100; Mb: ** ouetedt NAJ not 


United state 
HKonnlrntt 
Prime rota 


Currency nr 4 

■, Arm. pc» amn 
; AmiraLS MD3< 
'(.Aretr.sddL 11J51 
lenn. 785-76 
: yuan UTS* 
CnCbkWnM 2 
Dwdih krone 465* 

‘ Eayntpoond 1382$ 
1 Pin. markka W7* 


Currency 
MobPaM 
K. Zealand* 
Nnrnr. krone 
PMLMSO 
mmziair 
part, mads 
Hum- ruble 
Saadi riyal 
SHLl 


Per* 
133 
U513 
7J88 
2M2 
22024 
17*68 
TOSCO 
3 7*» 
1J85 


Currency PnrS 
LAk.md 3*48 
S.Kor.woa 807 JO 

S wed. krona 7JW 
Taiwan l 2MD 

Tool baht 2530 

Tortlstt lira 21*57. 
UAE dirham 367 
veoetbollv. 113.90 


Close 

3 JO 
WO 
3% 
329 

4 SO 
151 
4.19 
5* 

6.18 

Al5S 

695 




; Forward Ratos 

{ Currency "~ 

\ PomdSterttm 
\ Bundle mart 
Swim franc 


jfrday «Mov **** 

idia 1 j47bb 

1.3U21 IJW6 t-7B*B 

I4J79 1*379 1.079 


Currency 
Ganadtai«nar 
Japanese yen 


N-dar «dw radar 
1J6B1 iZm IMB 
10621 10687 1(0*1 


i Bumae mark 

Swtu Irene 1437* U37¥ Bonce Cemmerctoie HWfcwn 

■ auras: ING Bank of Tokn tTokrOlt * ow/ Bonk <* Cora * 

■ (Milan); Auence Fran ce ^^ J/Z^ nmUerS and *P. 

L mnarnol; IMF tSDRt. Other data mm Roarers 


3-awafliCDt 
C*m«. paper 1M day* 

3-ntoatb Treasury bift 
1-year Treasury bill 
3-vnar Trcarerr note 
Srear Trtasorr ante 
7rear Treasury ante 
16-year Treasury note 
36-renr Treasury bead 
Merrill LnaiMai Ready asset iul 
■J6FBB 

Ofecoaorrofn 1% 

Con manor Clsd 

Ttnona tatarhook — 

Unomh bduihonk — 

lOrecr O n r n r umeui hood — 

Germany 

Lombard ram 636 

Call money 5J0 

l-mantb tatertank 550 

3-moalh Mer&aak SJ0 

6-moott h u erbimfc 545 

IMcarBand 6*1 


3M 

U0 

3* 

124 

357 

368 

4.15 

5J0 

S57 

612 

4*9 

452 

IUL 

IV 
21k 
28 
2 K> 
216 
129 

HU 

5*5 

555 

5JC 

145 

434 


■fllnkl 

Book bane rate 
Call moony 
1-aMnte Marbaefc 
Vacate I n terbank 
6<nonlh im n rt Mi ik 
llTQVGUt 

France 

Intarvenfiaa rela 
Qdi money 
t-manth imerhank 
l«i Hilt Interbank 
4-mealli Mnrhank 
10- year OAT 


5Y> 
9h 
5V. 
SVk 
5 V. 
7J8 

6.10 

616 


5V. 

516 

5V. 

5V6 

9A 

735 

6.10 

616 


6 iy. 6iv 
m 61k 


6.00 

6*6 


5%k 

4J9 


SM.KM: R outers. Btoo nuers. Merrill 
Lynch. Bank at Tokyo. Commerzbank. 
Gnenwea Mentaan Croat Lronmis. 

Gold 

Zurich 
London 
Now York 

US.daHanaeraunce. LenOanaHleknnx- 

tout; Zurich and now York enentnemrd she- 

Inp prices; New York Cemex f April) 

Source: Reuters. 


AM- 

PJYL 

Cb’ge 

38635 

386^5 

—030 

3B6J0 

366*5 

-no 

387X0 

38630 

— 130 



it 


Let’s do light, Mr. Edison. 


99 


There are times when necessity sparks great achievements. And in international investing. Bank Julius 
Baer has a long tradition of coming up with enlightened solutions to even the most complex problems. 
With over 100 years of experience in private banking, we are at home in major global markets. Looking 
for an asset manager that can shed new 
light on your international investment 

strategy? Put a Baer on your side too. BANK JULIUS BAER 


Jfr°B 


THE FINE ART OF SWISS BANKING 


Zurich. Bahnhafanua 36, CH-B0I0 Zurich, Tot (Ol) 228 51 1 1; London. Bewli Marta House, Be— Marla. London EC3A 7NE. Tet 071-613 421 1: New Tort, 330 Mufeon ^ 
Now York. N. 1. 10017. TeL (212) 297-360D. Sail Francisco, Lee Angola*, Palm Beach. KoscraaL Meaico City, Hang Kang, Geneva, Paris, Bordeaux. Frankfurt. 

A Member of SFA 


J 


i 

i 

*4 

1 

V 

h 

-t 

■e 
x 
. a: 
* 
7c 
ri 

3k 

*ei 

lb 

in 

us 

m 

th 

icu 


I 


D 

n 

n 

i 

s 

9 

B 

n 


n 

■f 

x 



I 

i 



INTERNATIONAL HERALD TRIBUNE, TUESDAY, MARCH 22, 1994 


Page 18 


MARKET DIARY 


Rate Expectations 
Burden Wall Street 


Via AuaciaM Pntt 


March 21 


Compiled ftv Our Stuff From Dispatches 

* NEW YORK — Jitters aboul 
whether the Federal Reserve Board 
will raise interest rates this week 
sent stock and Treasury bond 
prices lower Monday. 

The Dow Jones industrial aver- 
age fell 30.80 points, to 3,864.85. 
Declining issues outnumbered ad* 

U.S. Stocks 

vancers by a 3-to-l ratio on the 
New York Stock Exchange in mod- 
erate trading. 

The benchmark 30-year Trea- 
sury bond fell 16/32 point in late 
trading, to 91 10/32. with the yield 
rising to 6.95 percent from 6.92 
percent Friday. 

Market focus is on the Federal 
Open Market Committee's meeting 
on Tuesday, which is widely ex- 
pected to serve as a forum for the 
Federal Reserve Board to raise in- 
terest rates. The Fed nudged rates 
higher on Feb. 4 for the first lime in 
five years, causing a 96-point drop 
in die stock market. 

“There's a lot of nervousness 
ahead of the mee ting ,” said James 
Melcher. president of Balestra Capi- 
tal. “And when investors are waiting 
and nervous the tendency is to seU.” 

Stocks also set back after Fri- 
day's late surge linked to the quar- 


terly expiration of stock indexes, 
options and futures. Stocks often 
reverse course on the day after an 
expiration, analysts said. 

Telelonos de Mexico's American 
depositary receipts were the most 
actively traded issue on the New 
York Slock Exchange, falling 1W to 
58% in step with recent losses on 
the Mexican stock market. 

Baltimore Bancorp was the sec- 
ond-most-acd vely traded stock, ris- 
ing 1% to 19% after news that First 
Fidelity would buy the bank for 
$20.75 a share. First Fidelity 
slipped 'A to 45 'A. 

Among the active issues were 
three technology companies, with 
National Semiconductor rising % to 
24W and Advanced Micro Devices 
gaining VA to 30%. IBM jumped 1% 
to 58%, drawing interest after intro- 
ducing a portable computer. 

Auto stocks also were active, with 
Chrysler losing Vt to 57%, Ford slip- 
ping % to 61% and General Motors 
falling % to 59%. Ford received two 
bids for its unprofitable First Na- 
tionwide Financial Corp. Duff & 
Pbelps raised credit ratings on about 
$8 billion of Chrysler debL 

Cadence Design Systems gained 
1>4 to 15% after a Goldman, Sachs 
analyst raised earnings estimates 
and a rating on the stock. 

(AP, Bloomberg, Knight-Ridder) 


Dollar Slips a Pfennig 
As Market Awaits Fed 


Compiled by Our Staff Fran Dispat- Aes 

NEW YORK — The dollar 
eased Monday after climbing brief- 
ly above 1.70 Deutsche marks on 
speculation that the Federal Re- 
serve Board will push interest rates 
higher when its policy-making pan- 
el meets Tuesday. 

The dollar closed at 1.6895 DM. 
down from 1.6968 DM at the close 

Foreign Exchange 

Friday, and at 105.875 yen, com- 


pared with 106.12Chyen. 


they expected 
federal 


Some dealers sai< 
the Fed to push up the 
funds rate, the rate on overnight 
loons among commercial banks, a 
quarter of a point, to 3.5 percent. 
Such a move could drive the dollar 
above 1.75 DM. The Fed pushed 
the rate up a quarter of a point, to 
its current level on Feb. 4. the Gist 
such increase in five years. 

“The Fed is boxed in to a certain 
extent, in that it has to hike interest 
rates this week in order to avoid 
losing a great deal of credibility, 
especially after Friday’s meeting be- 
tween Clinton and Greenspan," said 
Win Thin, an analyst at MCM Cur- 
rencyWatch. 

But others said the market was 
still trying to decide how to inter- 
pret the meeting Friday between 


Fed Chairman Alan Greenspan 
and President Bill Clinton. 

That meeting had dealers won- 
dering whether the White House 
was trying to pressure the Fed into 
keeping rates where they are. 

Another trader said a 25 basis 
point tightening by the Fed may 
already be factored into the U.S. 
unit's value. But if the fed funds 
rale is pushed up by 50 basis 
points, the dollar could surge to 
about 1.72 marks, he said. 

In Chicago, a futures trader said 
a large rate rise could have the 
unexpected effect of hurting the 
dollar. He said a greater- than- 25- 
basis-point increase could send se- 
curities markets sharply lower and 
thus encourage internationally 
minded investors to flee dollar- 
based assets. 

Amy Smith, a foreign ex change 
analyst at IDEA, said that the dollar 
received a boost early in the New 
York session after the White House 
announced it was sending Patriot 
missiles to South Korea, but faded 
to breach resistance at 1.7025 DM 
and so was sold off a gain. 

Against other currencies, the 
dollar slipped to 1.4320 Swiss 
francs from 1.4415 francs, and. to 
5.7605 francs from 5.7810 francs. - 
The pound fell slightly, to $1.4885 
from $1.4905. 

(Reuters. AFX. Knighi-Ridder) 


The Dow 


DaSy closings of the ' 

Dow Jones Industrial average 
4000 



3480 


S O K.D J F M 
1993 1994 


Dow Jones Averages 


EUROPEAN FUTURES 


open riisti Low Lost On. 

mows 387878 3995,94 3857.94 3864J55 —3160 
Trans 1730.75 1732.74 171*20 1714X2 —1872 
util 20504 30630 304.13 505.97 —0X7 
Comp 1377.34 138207 1369.61 1371,13—10.94 


Standard & Poor’s Indexes 


HWi Low CM* Ch’ge 
industrial! 55130 54X71 5J077— Z93 

Tfansp. 422.93 41*94 419.12 — 3X1 

U iltttes 16106 1»A5 1*074 —072 

Finance 4109 4X66 4X83 — 074 

SP 500 471.06 46773 44X54 — 2X2 

SP >00 <3671 43X77 43198 — 233 


NYSE Indexes 


IHT 


NYSE Most Actives 



VoL Ifigh 

Low 

Las* 

am. 

ToIAACa 

53297 60 ‘n 

58H 

58". 

-116 

BanBcc 

33243 19W 

19 V* 

191k 

-148 

RJR Nab 

27768 6*i 

6 W 

6 M 

— V. 

IBM 

26615 SB’i 

5696 

S8V5 

-14k 

NtSemi 

22635 24 Vi 

23 V» 

34'7 

+ 48 

AAAD 

21744 31 

29*k 

30H 

-I 1 * 

Cnrvslr 

20733 58H 

57 

57 'A 

— V6 

Merck 

20002 3 7'M 

31 Vi 

32'X 

- 4h 

FardM 

19839 62',« 

609k 

61 W 

—4k 

Glkorp 

19730 39V. 

38 Sk 

3818 

—4k 

GnMctr 

177S2 601k 

58 

S9V8 

—'A 

NewsCp 

17719 S3‘A 

SJ'v 

S3 'A 

— V, 

Gillete 

17239 679k 

65V. 

66 *k 

-48 

Cadence 

15980 15W 

I4«h 

15H 

-m 

AT&T 

15372 S3Vh 

535k 

S3 Ik 

-Ik 


NASDAQ Most Actives 


AmteCps 
Imarrn 
Intel s 
MCI 5 
MentGr 
PncCsis 
AopleC 
Lotus 

MjCSftS 

CiCOS 

FurMed 

Rewound 

TefCmA 

ACC Co 

DeHCotr 


VoL High 
62085 22 Vi 
51709 SVu 
30043 73 
24442 25H 
24145 171 m 
23Z7S TO 1 /. 
22059 36>* 
71868 BS 
70054 83* 
18642 3946 
17289 I 
16998 1546 
16936 23% 
16899 24 ‘A 
15970 275* 


Law 

19% 

A 

24*. 

16 V. 
1946 
35’/. 

7 *% 

a 

384m 

!V» 

1295 

221k 

24 

26*. 


Last Chg. 
714k —11V. 
146 * 

77V. - >4 

344k — Y, 

16Vk 

20 — V, 

35V, —V. 

aa% — 3w 

83% —l*i 

38 Li 

4k - V. 

1446 —IV, 
221k —46 

2 S% +3*j 
774* *4k 


AMEX Most Actives 



VoL 

High 

Low 

1 

Chg. 

ENSCO 

16270 

4 V, 

3’Vi, 

4Vi» 

+ Vk 

EkPLA 

13628 

IV. 

lVu 

l'A 


CDFst 

12319 

9 

■*k 

81k 


ViocB 

7062 

29 

284k 

2848 

* 4k 

IvaxCft 

6744 

301k 

2918 

29H 


OievSfts 

6077 43Vj 

4218 

43 V8 


TooSrce 

5238 

8 Vk 

8 

BU 

— Vm 

HonvOir 

4537 

778 

7\8 

746 

-V8 

FlschP 

4459 

224. 

22.6 

224k 

+ 318 

FIAusI 

4007 

13'a 

1248 

13% 

-Vt 


Market Sales 



Today 

Prev. 


4 JUTV 

com. 

NYSE 

250J2 

505.12 

Amu 

19X7 

27X7 

Nasdaq 

227 JO 

311X5 


to millions. 


Htotl Low Lost 09- 

Gxnooslle 761.35 759.24 259.91 —1.44 

Industrie!* 32X83 32102 J99.9S — 1X8 

Tronic. 270.67 267.79 767.96 —3.71 

UlJirv 21156 71X17 214.13 —143 

FiDCTTce 214XQ 71X55 21XQ4 — 1 M 


NASDAQ Indexes 


HMl Low Last Ok 

COTTOOsile 80X98 797.73 777.73 

Industrials 84X74 84447 84447 

BOT*1 6MJJ 685.52 6*730 

insurance 930JB 92414 92X75 

Finance S98.ll 895.05 896.0 

Tronsc. 90057 797.15 79X46 

Te H C Om 17X51 171.49 17102 


—6.95 

— 0.96 


AMEX Stock Index 


Metals 

aw 

BU AS* 


ALUMINUM (HWl Grade) 

Dollars per metric Ian 

5001 130X00 13093)0 

Fcnwrd 133X00 133X00 

COPPER CATHODES (Hlali 
Donors pot me tr i c tw> 

Spot 193X00 >93*00 

Forward 194*00 194X00 

LEAD 

Dollars per metric ion _ 
soar 46X50 44X» 

Forward 477* 47800 

NICKEL 

Dollars per metric ton 
Soot 565080 5660 JO 

Forward 571X00 5720 JO 

TIN 

Dalian pt met ri c to n 

Soot 5535.00 554000 

Forward S585J0 B90JO 

ZINC (Special Hloti Grade) 

Do Han per metric Ion 

SPOl 95X50 957.30 

Forward 977J0 97BJ0 


Previous 

Bid Aik 

132X00 132400 
136*00 1 347 JO 
Grade) 

79S6J0 195400 
19(000 1969 JQ 


<6X50 
479 JO 


5720J0 573X00 
578000 579X00 


S54O00 «mnn 
559X00 559500 


95590 

97X50 


95X00 

97600 


Financial 

Hl«li Low Close Change 


3-MONTH STERLING (LIFFC) 


080008 -Bis of IN 

JOT MB 

S«P 9469 

Dec 9402 

Mar M.13 

Jan 9X79 

Sot 9145 

Dec 9113 

Mar 92JK 

J»n 9X59 

55* »U» 

DK 9X16 

Mar 91.90 


9481 

9463 

9438 

9408 

9174 

9X40 

91Q5 

9X78 

9X52 

9X38 

9X11 

91J 


94M +001 

9467 + 001 

9442 +QJ1 
9412 UrtCh. 
9X78 Uncft. 

S4i — 0101 

9113 Undi 
91*4 — 0J2 

9256 —004 

9X37 —tun 
9X16 —US 
91.91 +DJ1 


HWl Low Last dig. 
47X96 469.74 47077 —119 


Dow Jones Bond A 


20 Bonds 
10 Utilities 
10 Industrials 


Close 01*90 

101JB —123 

99.93 — 02T 

10183 —016 


NYSE Diary 


Advmced 

628 

1071 

Declined 

1576 

109? 

Unchanged 

579 

624 

Total Issues 

2783 

2786 

New Highs 

55 

85 

Now Laws 

no 

63 


AMEX Diary 


Advanced 
Declined 
Unchanged 
Tort! fcssuos 
New Highs 


232 

380 


Prev. 

344 
277 

_ 210 

841 831 

23 29 

16 15 


NASDAQ Diary 


Advanced 
Declined 
Undmefl 
Total issues 
Now Highs 
New Laws 


Close Prev. 
12S5 1581 

1822 1478 

1806 1774 


109 

56 


133 

34 


Spot Commodities 


Commodity 
Aluminum, lt> 

Cotter. Braz.lt> 
Copper electrolytic, lb 
Iron fob. Ion 
Lead. ID 
Silver, tray az 
Steel (soap). Ian 
Tin. lb 
Zinc, lb 


Today 

0X94 

070 

196 

213J0 

<LW 

5X15 

13X33 

17315 

145 


1601 

170 

196 

21X00 

134 

542 

13X33 

36823 

14423 


Est volume: 42349. Open knt.; 471,391 
3-MONTH EURODOLLARS CUFFE) 

11 million - pts of IN pet 
JIM 9160 9X60 9X58 —0J7 

SOT 9X20 9X20 9X17 — 0J7 

Dot 9476 9476 9473 — 009 

MOT 9453 94X3 9449 —0D9 

Jon N.T. N.T. 9420 — aiO 

Sep N.T. N.T. 9X96 —0.10 

Est volume: 331. Open Int.: 9.482 
3-MONTH EU ROMANICS (L1FFE) 

DM1 randan - pts of IN pci 
J an 9451 9448 9450 — 0J1 

SOP 9473 9471 9475 + 0J1 

Dec 9490 9486 94® —M2 

Mar 9497 9491 9492 — QJS 

Jon 9490 94® 9489 —005 

Sot 9476 9471 9475 —005 

Dec 9456 9452 9456 — 005 

Mar 9441 «C41 9441 — 0® 

Jon 9425 9423 9425 —OJM 

SOT N.T. N.T. 9406 — 007 

Dot N.T. N.T. 93188 — O10 

Mar N.T. N.T. 9373 -M9 

Est. volume: 62X7* Ooea tat.: 910065. 
M60NTH FRENCH FRANC (MAT IF) 


FFSmDIfen 

Jun 

-pts of M0 PC* 
74.15 94.10 

9*11 

—QJU 

Sep 

9*42 

9*38 

94X8 

— 003 

Dec 

9*63 

9*53 

9*56 

— 004 

Mar 

94X8 

9*60 

9*62 

— Q03 

Jun 

9*60 

9*55 

9*57 

—OJM 

SP 

9*46 

9*38 

9*43 

— OJM 

Dec 

9*26 

9*21 

9*23 

—OJM 

Mar 

9*10 

7*04 

9*07 

-005 


Est. volume: 40053. Open int: set an 
LONG GILT (UFFE) 

6S0800 - Pts A 32ndS Of T90 PCt 
Mar 110-00 109-28 11044 -G07 

Jim 109-18 108-19 109-05 — M6 

SOT N.T. N.T. 108-09 — 04* 

Est volume: 6X 200 Open Int.: 161 JO. 

m&'WSEF Bu "° cu ™ 

Jue 96J2 9X75 9X97 —063 

SOT 9SJ5 9X75 9SL71 — OM 

Est. volume: 139,774 Open Int: 20X696. 
10-YEAR FRENCH GOV. BONDS (MAT IF) 
FHOWOO - pts of 100 pet 
Mar 12470 12X72 12424 — 032 

Jun 12420 12X22 TZL74 —034 

Sep 12X42 12258 12X00 — 036 

Est. volume: 279,105. Open bit.- 23X488. 


• Hied Low Las! Settle CH'« 

May 13*75 137 75 IJ835 13825 + 1-25 

Jun 13850 I37.7S IJBJ0 13830 * 

Jul 1*00 139.00 139 75 13 0 75 + UM 

Aog 141.75 141 JO KUO 14X30 + 135 

SOT 143.75 14)25 14125 143.75 + 135 

Oct 14450 145X0 14450 147.25 + IM 

Nov 149 JO 147X0 149 JO 148~5 * 13 

Dec 1S1J0 >5000 151.00 15100 + 1.25 

Jan N.T. NT. NT 151.75 + 135 

Feb N.T. N.T. N.T <5200 + 'JO 

Mar N.T. N.T. NT 150.75 + 1 -» 

Est. volume: 10844 Opon int. 109.100 

BRENT CRUDE OIL IIPE) 

UX dollars per barrel-lois of UNO borrow 
May 14 JO 1X67 lin 13.98 +035 

JOT 1X82 1X57 1383 1388 +034 

Jot >222 1164 1X22 1*99 +035 

Aug 1402 13.73 14J2 14.02 ’+033 

Sep 13.95 1322 1392 1427 +033 

Oct 1405 1175 I4J4 1433 +0X1 

NOV 1415 1413 1415 14.42 +033 

Dec 1425 1418 1424 1455 +033 

Jan N.T. N.T. N.T. 14.66 +033 

Est. volume: 32380 . Open In i. 117,252 



Stock indexes 

FTSE 180 (UFFE) 

*25 per Index point 

JOT 321 7 J 3I92J 31900 — 17.0 

5u 32100 321X0 32160 —'60 

Dec 323X0 32350 3H40 — 1U 

Est. volume: 12306. Open Int.: 5X030 
CAC 40 I MAT IF) 

FF2M per Index point 

Mar 277300 220500 22O9J0 — 2<J0 

Apr 223X50 271530 221 «X0 — 

Mar 224400 222X00 222X00 — 2400 

Jot 221X00 2205.00 220X50 — 24-50 

Sep N.T. N.T. 2224 JO — 7400 

Dot N.T. N.T. 225650 — 2400 

Est. volume: Z1361 Open int.: 69.554. 

Sources: Mo tit. Associated Press- 
London Inn Financial futures Ercttsnoe. 
Inti Petroleum Exctxmoe. 


Industrials 

HI ot> Low Last Settle arse 
GASOIL (IPS) 

Its. dollars per metric tap-lots at 100 tom 
Apr 139 JO 13X00 13830 13*75 + ? JO 


Fed Speculation Sours European Markets 


Bloomberg Business Seva 

LONDON — Bond and stock prices fdl across 
Europe on Monday amid concerns the U.S. Federal 
Reserve Board was poised to raise interest rates, a 
move that could stall world economic growth. 

“We’re all waiting for interest rates to go up," said 
Klaus Hdntzen, a senior equity trader at Bankhaus 
Geb ruder Bethmann in Frankfurt. 

“While there's (hat kind of uncertainty in the 
market, stocks are going to keep going lower," said 
Martin Lupton. head of equity trading at Klein won 
Benson Securities Ltd. in London. 

The major Milan share index was 1.86 percent 
lower, while Zurich was off 1.21 percent and Frank- 


furt down 1.13 percent The chief index for Pans 
was off 0.84 percent and for London down 0.62 
percenL 

As government bond prices fdl the yidd on 10- 
year German bunds rose to 6.41 percent from 636 
percent, while French OATs were up to 6.46 percent 
from 639 percent and British gilts ended at 738 
percent, up from 735 percent on Friday. Traders 
said bond prices have moved in line with U3. events 
recently. 

“The slowness of the German Bundesbank in 
cutting rates means European bond markets haven’t 
decoupled from the U5," said Tony Bolton, a 
trader at London Bond Broking Ltd. 


Divide nets 

Company 

Per 

Amt 

Pay 

Rec 

! IRREGULAR 





0625 

>2 

Ml 

Global Ocean 


05 

44) 

4-22 

Permian Basin 


0*79 

3-31 


seminel Bal Fd 


134 

3-14 

Ml 



056 

3-24 

Ml 

Sun Dlstrfb B 


07 

4-1 

4-2« 

Zwefg Fund 

- 


4-12 

4-26 

INCREASED 




G 

.15 

3-31 

4-19 

NSD Bancorp 

U 

00 

4-19 

5-10 

>' CORRECTION 





70 

3-21 

4-1 

I Correcting to show regular payment no! ml- 

Hal os reported. 





REGULAR 



CVB Find 

0 

.08 

3-30 

4-13 





4-22 

Carolina FstCOrp 


05 

4-15 

5- 2 

Coeur D AieneMlnes 


.LS 

4-4 

4-15 

Continental Home 

o 

OS 

Ml 

4-15 

CrntaJenmr 

Eavftabic Resour 

o 

0 

.15 

.285 

4-1 

15-17 

4-8 

6-1 

GBC Bancorp 

0 

OR 

3-31 

4-JJ 

KWnwrf Ben 

M 

46 

3-31 


Mesa Otfstiore Tr 

M 

010T 

3-31 

4-29 

Morgan Stan HtYld 
NY Bancorp 

M 

O 

.10 

70 

Ml 

4-14 

4-1S 

4-28 

Patriot premDv It 

M 

07S 

4-1 

4-18 


M 



Ml 

Putnm DvGnw B 

M 

JOS 6 

3-21 

3-31 


V. 

067 

3-7) 

3-31 

Putnm GlbGv B 

M 

70 

3-31 

3-31 

Putnm UfilGrw B 

M 

097 

3-2) 

3-31 

Penn REIT 

Q 

A7 

4-2? 

5-17 

Saul Centers 


J9 

4-15 

+27 

Sentinel Bd Fd 

•Yl 

<ni 

3-?4 

Ml 

Sentinel Common 

O 

187 

3-2C 

3-31 

Sentinel GvSecur 

M 

JM= 

3-24 

3-3' 

Sentinel Ta* Fr 

M 

.057 

3-24 

3-31 

ServiceMaster 

o 

.23 

415 

4-30 

Sta Products 

0 

.16 

4-11 

4-25 

State Brrahrg 


ir 

4-15 

5-20 

TCBY Edlerpr 

0 

OS 


4-15 

TeWranl* Inc 

Q 

.15 

4-15 

5-2 

1 x-companv Is changing from poyins J>2quor- 

1 teriy to JM semiannually. 




a-anauat; g-paytdrie in Canadian fgndi 


monthly; Q-aoorfrrty 

s-semi-annoal 



UAPs Capital Gains 
Help lilt Net by 32% 

Bloomberg Business Vervj 

PARIS — Union des Assurances 
de Paris. France's largest insurance 
company, said that capital gains 
had boosted net profit by 32 per- 
cent. to 1.42 billion French francs 
($246 miflioii), in 1993 and offset a 
large loss at its banking subsidiary 
Banque Worms. 

UAP. which is controlled by the 
state and scheduled to be sold to 
the public later this year, also said 
that it increased its dividend to 3 
francs per share from 2.67 francs in 
1992. 


U.S. /AT THE CLOSE 

Novell Paying $1.4 Billion: P 

To Acquire WordPerfect ^ 

bin on, ctmS one If the largest software compares in the workL tert ! £ 
bl Novel^^Uexchange 59 million of its shares common stock and - V* 

stock options of WordPerfect. Novell stock closed down 25 cental » - 

52 ^araiety°NdveIl said it would acquire Borlwvd IniOTiatkmal lnc7s 

processmgwftware company based in Orem. Utah, to aroraputer srftWait - - 
fbrowithsales of $750 million. But the company. has ^mdeigone managerial) 
shakeups and started laying off more than 1,000 workers in January. - J . ■ • 

Novell a computer networking wm^y. tested revroue of J1.1B .. . 

billion in the financial year ended OcL 31, 1993. (Knigfa-Ridder, AP) ■ . 

EDS Wins $4 Billion Xerox Contract J 

DALLAS (AP) — Electronic Data Systems Corp. on Monday wcm a 
Xerox Corp. contract worth an estimated $4 billion to provide global data 
processing that Xerox once performed forjtself- , v .‘ 

The General Motors Corp. subsidiary will bandlenic« of Xerox s data 
business, including operations in Rochester. New York; Britain and Brazil . 

EDS beat out Integrated Systems Solutions Corp., a subsidiary, of 
International Business Machines Corp- for the contract. .* 

Many of the 2,000 Xerox employees in four information managernant . : 

areas to be affected by the deal would become EDS employees. However, 

an undetermined number oF layoffs also were expected. 

TCI Planning to Split Into 4 Units v 

ENGLEWOOD, Colorado (Bloomberg) — Tde-CormnunicatiQpj ; 

Inc., the largest U.S. cable television concern, said Monday that it waj 
planning a restructuring that may lead to turning its four main operating • 
divisions into separate, publicly traded companies. a . . 

TCI plans to become a holding company for subsidiaries in cable an} 
communications, programming, international cable and progr amming <■' 
and venture capital Minority stakes in each of the four would be sokiiq r .. 
the public, according to analysts aware of TCTs plans. 

The move would enable TCI to cash in on the company’s vast media -■ 
holdings, which are worth an estimated $22. 5 billion, or $45 a shard 
TCTsGass A stock closed at just $22,875 on Monday. 

EU Asks Fed to Back Off Bank Fees 

BRUSSELS (AP) — The European Union on Monday protested 
moves by the U.S. Congress to make American branches of foreign banks 
pay to be supervised by the Federal Reserve Board. Jn a letter to the FfcA 
chairman, Alan Greenspan, the dozen governments and the European 
Commission said new supervision fees under a 1991 law would disenmi- ' 
nate against foreign banks in the United States. 

For the Record 

National Westrmnster Bancorp Iixl, a British-controlled bank wifl} ; 
operations in New York and New Jersey, agreed to acquire Citizens Ftaft ; 

Bancorp of Castle Rock, New Jersey, in a cash-and-stock transaction 
valued at $500 milli on. (Btoomb€$ ' 

Fust Fidelity Bancorp, of LawrenceviUe, New Jercey, will buy B^(f ' 
more Bancorp for 520.75 a share in cash, or $346 million. (Knighl-Rid&A . .. 

Occidental Petroteiun Co. willbuy 17 ol and gas properties on the G«4 ’* 
of Mexico coast from Agip Petroleum Co^ a unit of Italy’s Agip SpA, fe - ; 

S195 milli on in cash and stock. (AFX) . 

Allstate Corp. increased its California earthquake loss estimate to SM 
milli on from $350 million and now expects an operating loss for the fnjj _ 
quarter of about 30 cents per share. (Knighi-Riddg) -. 

United Steelworkers of America plans to announce Diesday the fflngwf •- 
a union election petition with the National Mediation Board for 10/000 : 
passenger service agents working at USAir Graqr Inc. (Reuters) 



Weekend Box Office 


r -. 

sL z 


The Associated Press 

LOS ANGELES — “Naked Gun 33 W. The Final Insuir topped’ ($ . 
weekend box office. Following are the Top 10 moneymakers based^ft 
Friday ticket sales and estimated sales for Saturday and Sunday. 


1. 'Naked Gun 33M" 

2. "Guarding Toss- - 
1 "Monkey Trouble" 

4 'Scfilndlert Lbl' 

X "Lightning Jock" 

6 "Ace Verrtura, Pet DelecDve" 
7. The ReT 
B. “Mrx DoubHIre" 

9. "Greedy" 

10. "Eight Seconds" 


(Paramount) 

{TrtStor) 

INoor Line Cinema / 
WnMtrsotr 
l Savoy Pictures) 
l Warner Brothers) 
[Touchstone Pictures) 
[Twentieth Century-Fair) 
l Universal Pictures) 
(New Une Cinema) 


Jt £■ 

SI 15 million 

sxo million-^ ra. 

s 46 million 
S 40 million 
S 12 million 

s 27 million 
J2J million 
S 17 million 
S1J million 
S 1J million 


'1TSE 

^ i ftsfi? 


WORLD STOCK MARKETS 


Agence Fiance Piaae March 21 


Amsterdam 


ABN Amro Hid 
ACF Holding 
Aeoun 
Ahold 
Akin Nobel 
AMEV 

Bols-Wessonen 
CSM 
DSM 
Elsevier 
Fakker 

Gist- Brocades 
HBG 
Hrlneken 
Hoogovens 
Hunter Douglm 
IHC Cal and 
Inter Mueller 
Inri Nederland 
KLM 
KNPBT 
NedJIoyd 
Oee Grin ten 
Pokhortl 
Philips 
PoJvarom 
Robeca 
Rodomco 
Roilnco 
Rorento 
Royal Dutch 
Stork 
Unilever 
Von Ommeren 
VNU 

WoHerVKtunwr 11190 

KSAWfAfift* 


66-20 64-40 
5110 54 

96 9580 

50.90 5060 

219.70 221 JO 

77.90 77 JO 
41-20 41.60 
49 JO 69 JO 
121.90 12420 
170J0 17X60 

1540 1470 
53 JO 54 
31X50 315 

22190 22X50 
60 JO 6020 

81 B2J0 
4250 <3 

8150 &5 

81J0 82J0 
47-30 47 JO 

49.10 4950 
6X20 69 JO 
6620 *6.10 
5X30 5370 
5450 55J0 

.PJO 77 JO 
12X10 12X40 

ML60 69 WO 
12X60 127.711 
9430 95 

177 JO 19X40 
46JB0 47 JO 
2Q5JO 205-50 

51.10 5120 
179 JO ir JO 

113 


Brussels 


Acec-UM 
AG Fin 
Artoed 
Boroo 
Bekoerl 
Cockerlll 
Cobeoa 
Deiholre 
Electro bei 
GIB 
GBL 
Gevoert 
Kreaietbonh 
Petraflno 
Power! bi 
Royal Belee 
Soc Gen B oreme 


2630 2600 
2760 2795 
4650 4880 
2310 2320 
24475 24300 
m tie 
6140 6160 
1424 1424 

4260 6290 
1620 162S 
4515 4535 
9900 9930 
7340 7500 
1Q400 10400 
3230 3265 
■ 5850 50501 
8480 8530 


5acGenBetg*aue mo 2730 
Sdlna 15100 15100 

Solway 14875 1482S 

Tractebei 10925 11075 

UCB 23425 23575 

Current Stock Index : 769647 
Previous : 77*7.03 


Frankfurt 


AEG 163 166 

Alllora Hokr 3*77 2573 

Altana 625 6J3 

AskO 1070 1095 

BASF 31430317.30 

Boyer , 37637X30 

Boy. Hypo bank 468 470 

Bov Vereinsbk 489 493 

BBC 701 700 

BHF Bank 433 428 

BMW BSO >62 

Commer zb ank 353358X0 
Continental 283 285 

Daimler Benz 83984X70 
Deguua 5O3J05UJ0 

Dt Babcock 2B0JDZ7S20 
Deutsche Bank 7V5J0804JU 
Douglas 56X80 571 

Dresdner Bank 398J0 406 

Feiamuenie 337 335 

F Kruno Hoesch 21021X80 


Harnener 
Henkel 
Hocnilet 
Hoechst 
Hoizmann 
Horten 
IWKA 
Kan Sab 
Karst oat 
Kavflol 
KHD 


35» 389 

633 641 

1093 1095 
331 328 

946 950 
227 228 

392 397 JO 
148 148 

575572J0 
5D8J0514J0 
15050 149 JO 


Kloeckner Werke 143J0U1 jo 


Linde 
Lufthansa 
MAN 

Ma ones mann 

Metanoeseii 

Muencn Rueek 

Porsche 

Preussoo 

PWA 

PWE 

Rnelnmetall 

Scherlng 

SEL 

Siemens 

Thyssan 

Varta 

veba 

VEW 

Vkg 

Volkswraen 
Wei la 


B57 86X50 
194 194 

434 440 

422J0 42430 
18350 183 

3240 3265 
B9S 910 
465J0 47780 
220220.10 
451 461 JO 
327 JO 325 
1071 1083 
410 40S 

696 700 JO 
26X80269.70 
364 364 

<8X2049480 
360 363 
46046220 
487408 
845 835 




DAX Index: 2UIJ8 
Previous ; J1&61 
F» index : nut 
Provide* ; 82X29 


HelsinM 

Amer-Yhtvma 134 139 
EnsaGutzHt 
Hutitamokl 


K.O.P. 
Kvmmene 
Me Ira 
Nokia 
Poll I ola 

Repo la 
Stockmann 


39 JO 4X80 
210 210 
1X90 1110 
123 120 

211 213 

400 410 

97.10 97 JO 
299 305 




Hong Kong 

Bk East Asia 29-50 31.25 
Cathay PacHic 1X80 II JO 
CheunaKona 37 37 JO 

China Light Pwr J7JS 39 JD 
Dairy Farm inn 1040 I1J0 
Hang Lung Dev 1X90 1480 
Hang Seng Bunk 48J0 5250 
Henderson Land 4250 4X50 
HK Air Eng. 38JS 38J5 

HK China Gas 17 JO 1X20 

HK Electric 2060 21.10 

HK Land 21 JO 23J0 

HK Realty Trust 19.40 2T JO 


HSBC Holdings 
HK Shano Hi is 
HK Telecomm 
HK Ferry 

Hutch Whampoa 29 JO 
HyxmDev 
sardine Moth. 

J online Str HM 

Kowloon Motor 

Mandarin Orient 1X10 1X10 
Miramar How 2140 23JD 

New World Dev 

SHK Praps 
Stelux 

SwlrrPocA 
Tal Cheung Prps 11J0 11 JO 
TVS 150 3J0 

Wharf Hold 27 JO 29.40 
Wing On Co Inll II JO 1Z« 
Wlnsor Ind. 11.10 II JO 

Mar?na :l 


89 9Z50 
It JO 11J0 
1220 1280 
8J5 9 

» 

34 25 

53J0 53J0 
27.10 28.40 
13 1140 


2X60 2X40 
5X50 53 

445 450 
50 52 


Johannesburg 


AECI 
Alfech 
Anglo Amer 
Bor lows 
Blyvoor 
Buffets 
De Beers 
Drtefonteln 
Gencor 
GFSA 
Ifar m oi w 
Hlghveld Steel 
Kloof 

NedbankGrp 
Rondfonleln 
Rueplat 
SA Braws 
SI Helena 
Stool 
wetkom 
Western Deep 


21.75 22-50 
94 90 

220 216 

.19 01 3?9> 

9J5 9 

48 NA 
11X7511X25 
55J0 53 

10 9.90 
98 98 

36 75 25 
2130 24 

48J5 47 

2X50 29 

46-25 4X30 
8450 8450 
91 JO 91.75 

•6 4X50 
24 2423 
4250 42 

19B 190 

523X34 


London 


I i 

II 

478 

*12 

404 

*13 

Aria Wiggins 

207 

2.97 

Argyll Group 

2J8 

157 

Ass Bril Foods 

556 

£59 

BAA 

10.15 

1002 

BAe 

507 

507 

Bank Scotland 

1.91 

1.73 

Barclays 

SJB 

5X0' 

Bass 

573 

575 

BAT 

4X4 

*70 

BET 

179 

179 

Blue Circle 

3X5 

3X8 

BOC Group 

7.13 

772 

BOOfS 

SJS 

578 

Dewater 

*70 

*08 

■P 

370 

3X7 

Brit Airways 

*30 

477 

Brit Gas 

3JB 

305 

Brit Steel 

1X3 

1X5 

Bril Telecom 

*09 

*12 

BTR 

3LBI 

305 

Cable Wire 

*25 

*42 

COAwrv Sett 

*94 

500 

Ca radon 

3L90 

350 

Coats Vlvef la 

3-52 

2J6 

Comm union 

5.75 

579 

Courtavlds 

5-45 

5X1 

. ECC Group 

5.13 

5.13 

Enterprise Oil 

*12 

*11 

EurDtumei 

SJS 

5X8 

Finns 

131 

171 

Farts 

2X2 

2X0 

GEC 

Ml 

104 

Gen'l Acc 

*13 

*14 

Gtavo 

601 

605 

Grand Met 

4X6 

*67 

GRE 

1.91 

1.92 

Guinness 

*87 

*05 

GUS 

*58 

5X3 

Kansan 

202 

201 

Hlltstfown 

1.71 

172 

HSBC Hldn 

7X9 

80S 

ICi 

702 

70S 

inch cane 

U4 

SJS 

Kingfisher 

S7B 

590 



Clara Pray. 


2Jt5 

2J56 

Land Sec 

*23 

un 


7.95 

HJJ2 


170 

179 


*98 

5413 

Lloyds Bank 

500 

503 


*12 

*16 

ME« 

402 

408 


4X9 

*/l 


*70 

*84 

NthWsl Water 

573 

574 


*40 

*55 

P&O 

*72 

*78 

Pllklrtglan 

1.94 

174 


SJ9 

5X2 


033 

031 

Rank Ora 
RecfclttCal 

*12 

677 

*17 

*31 

Redtand 

5X4 

576 

Reed int! 

8X5 

872 


20.15 

20.12 

RMC Group 

978 

9 J9 





*10 

*14 


*30 

*38 

RTZ 

8X0 

SXI 


304 

308 


575 

577 

Scot Power 

303 

305 


1.16 

470 


5X1 

5X5 

Shell 

*68 

673 

Slebe 

507 

509 

Smith Neehew 

1X2 

1X4 

Smith Kline B 

*00 

402 

Smith <WH] 

5.13 

57 3 

Sun Alliance 

379 

*30 

Tate & Lyle 

*26 

*27 


270 

271 


11.10 

11.18 


2 J0 

2X3 

TSB Group 

278 

274 


10J7 

laxo 

Old Biscuits 

371 

axv 


570 

5X2 


45.94 

45X6 

Wellcome 

675 

678 


576 

5X2 




Willis Corroan 




| : 319X00 


Madrid 

BBV 3190 3215 

□co Central HHpi 2ea> two 
B anco Santander 6860 6860 
CEPSA 2960 3005 

B3E?“ ^7=S 

Ercros 161 

Iberdrolo I IOT iwo 

T^molera 3990 4020 

Telefonica 1855 1905 

S.E. Genera I Index : HU1 
Previous : 33X63 


Milan 

rmm 

8X73 

Benetton group M«0 

2364 
2451 
2470 
1786 

790 
4920 
1960 
37890 
19905 
11650 
5420 


Clga 
CIR 

Cred I tal 
Enlehem 
Ferfin 
Fortin Rlsp 
Fiat spa 
F inmeccanica 
General! 

IPI 

Hoi com 
Da lets 
Italmoblllare 
Mediobanca 
Montedlsan 

Olivetti 

Pirelli 
HAS 

Rlnascantc 
Sotaem 
Son Paolo Torino 10500 
SIP 432S 

SME 3801 

Snta 1910 

Sttmda 34200 

Slot 6874 

Toro Assl Rise 25800 
MJB Index : 1957 
Prevleas : 1077 


I5ZJ5 

1190 

2S33 

4420 

24040 

10330 

2950 


S3 

26900 

2394 

2561 

2490 

1809 

795 

5025 

1960 

38230 

20280 

11780 

3520 

38890 

15520 

1226 

2S30 

4505 

24600 

10270 

3059 

10501 

4360 


£3 


Montreal 


A Kan Aluminum 3Th 
Bank Montreal 
Bell Canada 
Bombardier B 
Comb I or 
Cascades 
Dominion Text A 

Donohue A 
MacMillan Bl 
Natf Bk Canada 


Power Corn. 
Quebec Tel 
Quebecer A 
Qvtbccar B 
Teleglobe 
Uni vo 
Vldeatren 


23 W 
3l*» 52 

2216 2»k 
20% 21 
Fib n. 
aui h 

2796 27li. 

22M 23 

10 946 

23 23 'm 
2249 22*0 
2116 21W 
21% 2114 
2336 23 U, 
646 &%■ 

I6V6 lav, 


Paris 


Accor 772 172 

AJrLkmide BS7 as3 

Alcatel Aisthom 717 721 


Axo 
Banco I re (Cte) 
BIC 
BNP 

Bouvoues 

BSN-GO 

Carrefour 

CCF. 

Cents 
Charaeurs 
aments Franc 
OubMed 
EH- Aquitaine 
EH-Sanofl 
Euro Disney 
Gen. Eoux 


1377 1399 
610 607 

1300 ?. 
254J0 2S 
715 700 

896 900 

4176 4199 
247.10 2S1 

140 141 

1522 1B5 
371 

416J0- 401 
40X40 407 JO 
1090 1097 
3X10 35.90 
2674 2724 
480 484J0 

623 429 

Lotarae Coopee 463A0467jo 
Legrand 6170 6130 

Lyon. Eoux S99 fill 

OTeoMLT 1273 1273 

L.VJVLH. 840 4394 

Matro-Hochette 13X10147.10 
Michel In B 263 261 

Moulinex 
Pari bos 
Pechinevlntl *192194J0 
Pernod-RIcord 402 406 

Peugeot . 863 867 

Prlntemps IAu) 930 936 

RadlatechnKiue M 

Rh-Poulenc A 148J0 14860 


147-50 147 

481 JO 48X90 


Raff. 5L Louis 
Redoute ILa) 
Saint Gobcln 
&EA 

Sit Generate 
Suez 


1744 1750 
864 862 

673 688 

562 570 

650 660 

333.1033110 


Thomson-CSF 19X30 m 


Total 

UAP. 

Valeo 


324 330 

18X90 189 

1379 1391 




Sao Paulo 

Banco do Brasil 1X9 9 1X80 
Banana 9J0 1X10 

Bradesco 1Z60 IX 

Bratuna 200 200 

Parana ponoma 17 JO 19 
Pofrotoros 143 154 

Telebros 3A30 3X10 

Vale Rio Dace 78 82 

Varta 149 139 

ttstsss'm*' 37 ” 


Singapore 

Cerebos 7 7 JO 

City Dev. X4S X73 

□BS 10.90 11.10 

Eraser Neove 1X20 15J0 

Gent log 1X20 15J0 

Golden Hope PI 2J8 2J6 

How Par 112 122 

Hume Industries 4JQ A98 

inchcaoe sis X40 

KOTael 9 JO 9J5 

KLKePang 2J0 293 

Lum Chans 1J4 1.65 

Malayan Banks X10 BAD 

OCSC 11 JO 11X0 

DUB 7,10 7.45 

OUE 6 7.10 

Sembawong 11 JO 1L4D 

Shangrlla «J0 iW 

Slme Darby 154 IM 

SIA 7.15 7J5 

fjore Land Jjo 190 

S core Press 13J0 14 

Sing 5teanrtfUD 118 3JB 

Shore Telecomm 132 146 

Straits Trading 3J0 164 

UOB 9.« 9.90 

UOL 1J5 1J4 

sh^tsriB-atotrjasoe 

nwrai : ZTHJQ 


Stockholm 


AGA 
Aseo A 
Astra A 
Atlas Copco 
E lectrolux B 
Ericsson 
Esselle-A 
Handrtsbanien 
Investor B 
Non* Hydro 
Praeord laAF 
SaraMkB 
SCA-A 
S-E Banken 
Skandki F 


24! 


SKF 

5tora . _ „ 

TreJtaboraBF 87^^ 

V!gXXtt8Si mi 



Sydney 


Amcor 
ANZ 
81# 

Boro I 

Bougainville 
Coles Mver 
Coma I co 
CRA 
CSR 

Festers Brew 
Goodman Field 
ICI Australia 
Magellan 
MUM 7 
Not Aust Bank 
News Cora 
Nine Network 
N Broken HNI 
Poe Dunlap 
Pioneer Inrl 
Nrroxtv P OUI OOII 

JVJIIBJ 

TNT 
Western Minina 
westpoc Banking 


PmS!:!aS“: W “ 


MaritetQosed 
The Tokyo stock 
market was closed 
Monday for a holiday. 


Toronto 


Abillbl Price 
Aon Ico Eagle 
Air Canada 
Alberto Energy 
Am Bnrrlck Res 

Bk Nova ScoHa 
BC Gas 
BC Telecom 
bf Realty Hds 


i89e law 
14 14 

7VS 714 
204k 2048 
3348 3348 
SIM S2V8 
2998 SOM 
1544 16 

26M atw 
oja a in 

0J7 X 37 

Brunswick 988 9ta 

CAE 646 68k 

Comdev A90 H.Q. 

CISC 3448 349k 

Canadian Pacific 23M 239k 

Can Tire A 128k 12M 

Cantor *7*. <Tta 

Caro 4Vj 

CCLIndB 89k Vk 

Clneptex 465 465 

Comlnco 21 M 21 W 

Comvest Exnl 23 W 23 
Denison Min B 035 036 

Dickenson Min A BVk 8 

24*1 244k 


DylexA 

Echo Bay Mines 

Equity Sliver A 

FCAintl 

Fed ind A 

Fletcher Chall A 

FPl 

Gentra 

GoMCorp 

Gulf Cda Res 

Heeslntl 

Hem to Gid Mines 

Holltnaer 

Horsham 

Hudson's Bay 

Imasco 

Inca 

Interprgv pipe 
Jonnocfc 
Lobcm 
UJbicwCa 
AAodcenrie 
Magna Inti A 
Maple Leaf 
Maritime 
Mark Res 
MocLean Hunter 
Mo Ison A 
Noma Ind A 
No r and g Inc 
Noronda Forest 
Norcen Energy 
Nthern Telecom 
Neva Corp 
Ostwwo 
Poeurin A 
Plocer Dome 
Poca Petroleum 
PWA Corp 
Ravrock 


ROB 

Royal Bank Con 
Sceptre Res 
Scott's Hasp 
Seagram 


OoMPrav. 

183 066 
1698 17W 
499 495 

4 3J0 
79k 798 

2048 2048 

5 5*6 

457 156 
12*8 12 
4J0 A40 
16*k 1614 
1348 134k 
1698 1648 
19V8 19*8 
3048 2991 
3BVl 3Bvfc 
3548 354* 
3198 31 V8 
2198 22 

2148 21V. 
25*8 25V4 

12 1218 
714* 7246 
129% 13 

26 26 
116 *V8 

IM 1748 
27 27 

646 646 

2648 26V8 
U 139k 
1446 108 
41V8 4146 
10L. 10*6 
22*8 2246 
365 360 
HW 329k 
10 10 
1.10 1.11 
1746 17V8 
3048 31 

2316 2348 
04 83 

29 294* 
13 T3V6 
848 8*8 

41 4148 


U.S. FUTURES 


Mordi21 


Open tfgh Lira dose Oig Op.W 


Grains 

WHEAT (CBOTJ snkifflMiwn-gtknnr«M 

IWVl 100 Mar 94 US 3J4 132 133%-XfflL. £31 

172 100 May 94 139 14014 13*18 13*44-00218 1X642 

156 196 Jul 94 126 128 12516 3JZ596-0J)0y3 I9.+52 

3-57M 3JB SepM 129 1299* 12T* 128 -0004* 1583 

165 109 Dec 94 136*6 138 136 337W .00016 4.574 

LS*Vi 134 Mar 95 140V, -0J»V, A 

1424* 3.11 Jul 95 123 51 

Ed.sdes X000 FrTs. sate 5,791 

FfTSOOenW 45JJ37 UP 253 

WHEAT CKBOT) Mki ilW n OT Mw iewra 

192 198 Mar 94 3J0 150 14SV, 145V.-OJH 524 

179*8 X9I 660994 13* 137*6 134 UIW-XOISS 9,710 

3JS 2S7 MU 118 127 125 125 -O0(W 10690 

3J5Vj 3jaws»*l 127*8 128\* 1267. 12tW-0J»Vi 3J»1 

1*0 11218 Dec 9* 131 334*. 133 133 -OJKV- 1JS 9 

3-S3I6 133 Mcr 95 qjSVk-XOO’A 165 

Est- soles NA Fit's, sate X3*5 

Ftrsop entat 2 X495 eft IM 

CORN (O0T1 UBhimHnvn- «*n or Dura 

11IU 13»6A(rM 2J1 231 U. 179 2J9*.— 0Jn» 1670 

2JBWMay94 26*** 26646 265 26546-00) 11*604 

2X1 Jul 94 XW 2J0V* 266*4 269 -001*6 116,132 

2*0Vi Sep 84 277 17* 17* 276*8 -001 V6 2X407 

2J6MDec94 2X4*6 2X5 2X2*4 263*i-0JTl*6 59X86 

2J3WM0T9S 270V. 270% 14M6 269V. —DXP« 1958 

2X9 ^ MOV 93 275 275 273 273'«— 0JJ1L. 337 

270*4 A* 95 275 275 275 225 — QJHU. 1727 

241 D0C9S 2J2Vl 2X3*. 2X2*8 2XJ -0J0*. 654 

Fry*.**** 44X96 


Season Sttcan 
High Low 


Own Wuh Low dose Chg OpJH 


FrTsaoenint 56.677 up 74 
SUGAR-WORLD II INCSE) ; 


Shell Can 
Sherri It Garden 
SHL System tee 
Souttiam 
Soar Aerospace 
Stolm A 
Talisman Ena re 
Tecx B 

Thomson News 
Toronto Domn 
Torstor B 
Transaita Util 
Trans Cdc Pipe 
Triton FbilA 
Trtmoc 
TrtzecA 
Unicgra Energy 

RftBMUdF” 


13 

131k 

ID* 

10*3 

1998 

20% 

IBM) 

18 

998 

988 

37% 

37Vj 

25% 

25Vj 

ION 

19 

22V5 

23 

2SH 

2 SW 

151k 

151k 

199k 

20 

*05 

*05 

1718 

17% 

009 

006 

IM 

ITS 


Zurich 

Ad la inti B 


236 340 


BBC Brwn Bov B 1244 1237 


Ota 


849 8S3 

621 632 

3910 3930 
1260 1300 
2440 2400 

850 B60 

931 945 

.430 £2S 

1220 1219 


CS^HaSdimna 
Elektrow B 
Fischer 3 

I nterdtscount B 

Jetmoii B 
Landis Gyr R 

^Tp P&B 

Oertlk. Buehrie R 1*1 163 

Porpesa Hid B 1540 1545 
RocheHdgPC ffS5 7140 
SrtraROTuWk: IM U4 

Sanooz B 3870 3900 

SchtadtorB 7800 TWO 

5ulzer PC 1000 906 

Surveillance B 2U5 2US 
Swiss Bnk Carp B 411 423 

Swiss Retnsur R 602 *20 
Swissair R 790 793 

UB5B 119J 1224 

Winterthur B 715 737 

Zurich Ass 8 1336 1360 

V&'&Y&d 5 




Ian Index : 209S.1S 
IS ! 2013X4 


Brazil Stocks Drop on Rates 

Reuters 

SAO PAULO — A jump in interest rates tied to forecasts for rising 
inflation took its toll cm BraaTs stock markets Monday, where the 
Bovespa inde* of the 54 most-active shares tumbled 5 percent. 

Brazil's central bank signalled the country's overnight call money rate 
at 36.5 percent a month starting Tuesday, up from 54 percent on Friday. 

The Bank’s move came after the Economic Research Institute in Sao 
Paulo said inflation in the period from Feb. IS to March 15 rose to 40.04 
percent from 38.87 percent in the previous four-week period. 

"It's really difficult to hold a long stock position when interest rates are 
ranging around a daily rate of 1.8 percent,” one broker said. 


L141A 
3.1614 
292*8 
2734. 

279*8 
262 
2-B3V. 

urn 

Ed. idra 39 
FtrvB Pcnklt 

SOYBEANS (CBOT1 MOMnnin-tWiarkiM 
7X4 X89**Mor94 *69 Vj XMV. X85 Xfl -OJO 639 

7X1 SXH MOV « X90V« 67! 66516 468*6-002*6 56.91* 

7X0 594*4 Jul 94 6 SO X92 XMV, 669*4-067*4 48X74 

7X5 478 Aug 94 463 684*4 660 662'*-CJHVi 7637 

669*8 X17 SOT 94 684*6 6X7 443 6X4*0-061*6 4.192 

7X7*4 5X5*4 Nc~ 94 *J2M 6X1*4 SJn tXJh-OJl'A 3X9*0 

*70 X16*4Jm95 6X1 *59*8 X56 6X7**-0J»*4 IXT 

67314 6X2 Marts 6X2 6X4 6*0*4 663 *000% «7 

670 653 May 95 665V.-0JM14 1 

675 6X3*4 Jl^ 95 6X4 X65 6X3*4 6X5 -001*4 251 

6X0*4 561*4 Nov 95 620 622 620 623 +041 1J141 

EH. sate «JW RTs-saW 37,190 
FrKjOTWlW 1J5JWJOT TOM 
SOYBEAN MEAL (CBOT) ueWm-«Anprlon 
72?JV 1BX20MOT94 17X00 19560 19100 19303 —170 577 

23ZX lS150May94 I76KJ 19610 19600 19653 -1 JO 29,914 

2*J» 19060 JU 94 19*60 19460 1MX0 19X» -1.70 24X38 

22100 199 60 Aug 94 19570 19560 194.10 194X0 -1X3 7J22F 

21000 188.70 SOT 94 19X20 1MJ0 1925) 19270 -1.60 5X08 

20600 1B7.700C7 94 191 70 191-50 190X0 19BJ0 -l^S 3617 

10960 4X0 Dec 94 Wl.OO 19*J« 1B9J0 1*970 -1X1 8677 

»660 18650 Jot 73 19660 19650 10960 18*69 —1X5 900 

19460 I87JBMOT95 199X0 18X50 WJD 189.50 —1,00 33 

17L50 19200Moy95 1HJ0 —200 II 

EP.sdes ixooo Erf's. SOTS X95B 
FrYsaaenM boxo* up 20B 
SOYBEAN ML (CBOT1 MOODKn- 
3075 71.13 MarM 29JH — 

30X5 21J0MO/94 2698 

2970 J1X5JU94 2LM 

If JO 2TXSAU9 94 2BX3 

OXOSotW 27X9 

221000*4 27 JB 

290Dkc94 2646 
2265 JOT 9J 2635 

25X0 Mar 95 
25J0May95 

. 15600 FTTisoW 

FtFshotH 99637 OR 1Z2 


12/7 630 May 94 12.12 

I2J0 9.15 Jul 94 1273 

11.95 9X200*4 1) 73 

11X7 9.17 Mar 95 1178 

11X8 10571. *04 11.25 

11X1 10J7 Jul 95 11 JO 

11.40 lC57Dd*5 

Est uses ioju Ri's-sate 21.7/0 
Ffl’s open ini 111241 oH 271 
COCOA INCSEI 


lUBbi-anliavL 
12.19 11X9 12.11 

1TJ4 13.18 
11.82 1171 

1IJ7 1178 
1130 11.15 
II JO 11J0 


1267 

1177 

11-0 

HJS 

1175 

11.23 


1366 

978May«4 

1215 

1224 

'2» 


1365 

99? Jul 94 

13*5 

1249 

1235 


1377 

use See u 

1263 

1269 

1760 

12/2 

1389 

104? Dec w 

1797 

1300 

1292 

IJU2 

1387 

1077 MOT 95 

>330 

133* 

1328 


1400 

till Mav 95 

1355 

1355 

1353 

135 1 

1407 

1225 Jul 95 

1375 

1375 

1371 


1350 

1275 Sep 95 




13(6 


1X38 Dec 95 





Ea. sales 

*170 rrt's. sales 

*794 




_ 61X43 
—002 35669 
-0JH 29X57 
-0JD 1V« 
-064 1715 
-0JD 1608 
-063 309 


-0 39.917 
—0 19X71 
-5 9JM 


9X54 

6345 

3X16 

«i 


Frfsooeninf 94X71 up 216 
ORANGE JUICE INCTN) IlXOt B»- coVsoer b 
11560 69.00 Mov «4 m.60 11170 110.05 110X0 —060 8J86 

moo 103 50 Jul *4 11475 11*75 11190 111* -050 5X19 

134 JO 105.50 Sw W 11600 11600 115J0 115X0 -0X0 2,143 

1X00 1 OR 00 Nov *4 lit,® 11600 11 US 11090 -055 1638 

132-00 1 10X0 Jon 95 11*95 1 1*95 11*50 11*50 -0X5 1700 

12*25 1 0600 Mar 95 11600 —4X0 204 

Est sales NA. Fr.-i. solos 1.579 
Frl's open int I9J69 off 64 


Season Season 
High Lon 




Open Ktfi Low Oase Chg OaH 


90360 Sop 94 95720 95720 95.170 95.100 

?i'80 90710 Dec 94 9*770 9*770 94720 9*730 

9630 9070) Mot 95 9*530 9*540 9*480 9*490 

2*730 9O710AX195 9*140 9*250 9*190 9*200 

HS20 91J10SOT95 9*010 94JH0 93640 91980 

SHE &SH8“S ”7« 93740 93X90 93X90 

«2» 907 50 Mar 96 93X70 93X70 93X10 93X20 

Ed. sales NA. Frl's. sete 333,994 
Frfsopanlnf 2X65X40 Off 5116 

"StTpHPlA?® (OK1BO irantOTIMNauatl 
1X474 An *4 1X840 1 60 1X716 1X844 

T AMO -MJJSotW 1X760 1^ 1X720 1X814 

JX930 1X500Dot94 1x760 1X800 1X720 1X7* 

Ea SCOTS NA. FfTs. soles T 3,2)7 


— S03S7X95 
-6DB2J47 
-40246HI 

-aitw 
— 801SW® 
-0OI£ 
-ao raws 


—26 348M 
—24 . 439 v 
—22 «X - 


A/letals 


27X5 

2690 

2665 

2635 

2610 



M GRADE GOFFER mCMX} Z6000 Rremhiwk 
H7J0 7100 Mar *4 91 90 9150 90.75 *100 

7* 50 Apr 44 91.18 

73 60 May 94 91.90 
7*10 Jun 94 90X0 
7470 JW 94 91 JO 

7*90 9170 

75750m: 94 90 JO 
76.90 JanSS 
TUB Feta 95 
i2.70.5Vjr 95 90X5 
76X5 May *5 91.® 

7X00 Jul W 9a7S 
7SJ0 Aub9S 

r9.10>p95 9|JI 9125 9IJ5 
7120 OCt 95 
77,75 Nov *5 

BSJODec ?S 91.85 91.95 9165 

Jan 94 

, 17000 Frl's sates 

Frfsoocnlnl 71 Jen up 1733 

I6VCR (KCMX1 unnwoE. compyra 


9375 
10270 
9170 
10295 
10138 
ID).* 
3970 
996B 
9225 
9170 
90X0 
91 35 
91.10 
89X0 
S8J0 

saw 

EB. sates 


91.15 

9210 

9240 

9)35 

91.20 

90-75 


9160 

9160 

90.75 


91.10 

90J5 

9040 

9010 

89.95 

89X0 


8*80 

9070 

*0X0 


11X84 


*65 
9070 
90X5 
9020 
9005 
90JJ5 
90.15 
9070 
*75 
90-35 
*X5 
90.10 
MXO 
9005 — 1X35 

90 05 -0.95 

9170 —075 

9170 —075 


—1X5 2X* 
— TX5 1,105 
-1 JO 0X61 
-MS 

-US 11X37 
—1.15 1683 
—003 3X79 
— 0X5 
— 060 
— 075 IXS4 
-0-75 
-075 
— 1.15 
-075 


5565 

548.0 
5555 
5650 
S61J 
5720 
5640 
577 5 
58*0 

595.0 
5656 
5*0 


3660 Mar M 5415 5435 5C.0 
5IB0ADT44 


542.0 

5413 

54*7 

54ai 

aax 

BIX 

SfiOX 

5655 

5703 

575LS 

5B0J 

sans 

5910 


893 


+07 
+ 0X 
-0J 67,954 
+ 05 17X46 
+05 4X81 

:H 9,m 
+ 06 
+ 07 
♦ OH 
+09 
+ 10 
+ 10 


{ 


Livestock 




{ CATTLE (CMER) 4C 
8275 7*30 Apr 94 

IXMOT, 

7*25 

e 7JSr r ra.9s 

7577 

— 0JB3U56 

7577 

njJJunM 

!KU 

7435 

7405 

7407 

—070 23,744 

7307 

7070 Aug 9* 

7205 

7205 

72X5 

72X2 


7*07 

71X9 Otf 9* 

7172 

7375 

7337 

73X5 

-0X2 

9X08 

7*30 

7*35 Dec 94 

7*05 


7172 

7377 




73X0 Feb 95 












74X5 









FfTsOPOT im test) 

3ff 671 





Ntaun 

CATTLE (CMBU 

JO-MOte-OTMl 




8575 

79X2 MOT 94 

81X0 

B1X5 

8172 

Bl 32 



B50O 

7970 Apr 94 

RWO 

81.11 

*0X2 




54X0 

78. 70 May 94 8005 

SI 00 

00X5 





79XSAUBM 

BIAS 

81X7 

B1.1D 





79X0 Sep 94 

SI 07 


BQ75 





79 JO Otf 94 

■US 


0075 

8037 












79X0 Jan 9* 




S0JD 




NA. Ftrs-sate 






| Ffl'SWOTH 11033 

UP 63 















29J7AOT94 

46X7 

47.12 

44X0 


rang? 










«J0JlA94 
















43X0 Otf 94 





+ *15 



4570 DCC 94 

ax 

41X0 

«75 




4130 Feb 95 


4*90 

*670 


-AlO 

236 1 

46JQ 

40.90 Apr 95 





90 1 


50.10 Jun 9i 

5000 

5000 

5000 

5*10 


23 

EH. sOTe 

na. Ffys-stfes 

5713 



Fits open Ini 21.179 






1 

FORK BELLIES (CMER) WXaetn.- 




1 


3*40 Mot 94 








40X0 May 94 

55.65 

5670 

55X5 



6JW 


3970 Jul 94 

55X7 







42JHAU094 

nxa 

5*15 

0X5 



565 l 

61.15 

39.10Feb9S 






60 1 

59.90 

5800 MOT 7J 




5875 


3 1 


99 .90 May 93 




5*40 


« l 

ES?. MOT! 

NA FrTj. sales 

1,777 



1 

| FmsapmH 10064 

to 106 




1 



Food 




i 

1 COFFtac INSET vxoebk. 

-rents peril ■ 



E 

90J5 

6178 Mar 94 

nxo 

81 JB 

80.15 

7905 

-IJB 

7! F 

90X0 

6375 May 94 11.90 

82.10 

8170 

FL7S 

-0/5 3*434 i 

87X9 

6490 Jul 94 

S3jn 

<3X0 

OM 

ma 

—075 11354 1 







—070 

*77? 1 

91.90 

77.1006C94 

2570 

85X5 

85.15 

85X0 

-A73 

1X16 9 









87X0 





17.15 

—0.60 

131 P 

B7.90 

8500 Jul 95 




87.75 

-080 

1 E 

EsI. tales 

5X30 Frl’s, mOTs 

830 






3710MOV94 54X5 5465 S420 

3710 JUM 5470 £500 5466 

rOJScpfl SS3J 55*0 551 J 

3808CCC94 5990 541. D 5570 

401 6 Jen 95 5630 5630 5636 

41 fcj mot 95 5650 UX s W S 
4180 May 95 
4200 Jul 95 
491 05OP9S 

5)90 Dec 95 5880 583.0 5800 

Jon 9a 

Est sate 9000 Fri's. sate I2.I4S 
Frl’s OPWairn 111.07) otf 1304 
PLATINUM (NME8) sdifovot .Momynwoi 

CXMAOT94 02.00 40400 40000 «2J» 

CTOO 357.00 JU 94 402 JO 404 JC *01.00 403.70 

41200 366000^ 94 *0400 40*50 40400- AUTO 

41200 37*60 Jem 95 40*60 

41*00 3900DAOT95 40600 *0700 405JO *0570 

EB.sate NA. Frl's. sates 33*91 
Firs open Ira 7 UBS an 9* 

3400X1 inw. u-dcviPvrraBL 
37SlQf*ar 94 3fb*0 37640 31640 38660 —1X0 

a8 -“ 386.10 S6M -170 57X32 

J7aj0Mav94 387X0 170 

339X0 Jun 94 19000 39IJ» 3S3J0 388X0 —1J0 60X74 

34l5IAuaW 35130 39120 391X0 391.10 -1 JO 7MB 

34*0000 9* 39370 170 *jiai 

3O00DCC94 J97M 378-50 39*00 39ftX0 —170 13JU 

J63J0F,*-r5 400 U *0170 400X0 399X1 — 17n 

36*3) Apr 95 *03 JO 40] SO 40150 4Q2X0 — 1 JJ0 +64* 

MITSJun+S Qi — 1 jn i ot t 

380 50 Ain 95 Si3a 33,7 

*10700095 41200 —170 

■OJJWOwH 41720 *17 JO 417JD 415X0 -I JO JXgo 

; I7.00U Fri t sate 76.373 **** 

inn 144X72 UP 1387 


♦0JU 9,136 
+ 070 9X24 
-070 1,169 
-070 574 

-070 680 


Financial 

LS (CMERI lunmon-mdiBou) 

96 02 Jun 9* 9605 9605 9iW 9*01 -005 34X97 

95x5 Vp 94 95.71 9571 95X5 95X6 -005 678* 

*531 Dec 94 95 J* 9576 9571 9572 -005 2X13 

, Mar 95 9107 -oS 1 


Jynojio/.ij 107-135 IfVXMS 107 

Vo9* 106-158- ObS 


Atenmerioapa 

065 21.140 

06S 180X95 
*35 


!!?-?! ID7-3I Junta 10841 108 JD 107-20 107-28 — 09 
17-07 Soc 9* 107-04 107-06 106-25 106-31 — 10 


23X10 

273,585 

Law 


■saeieiaM) 
*-12 19,5115 

■2— 10 376X83 

[7- U 39X50 

11- 09 27.768 

»— 09 1J4A 

10— 0* M 

11— 09 13 

16 — 09 28 


9«9 Jun 94 95-01 95-03 94 70 M-2S — 10 

94-16 5u>94 93-X — 09 

te. torn PH i it*-i Tjn 

-*7X49 iXT 247 


7.554 


“*■ « r >:l0 ’■■StJO 9L5C0 954(3 -2049BJ37 


FITS WOT Inf 25.1S of! 560 

[OXER) sperdk-lpaUeeuaHSOLlon 

BCTBMarM a 7263 07263 07243 072S7 +15 

07BB OraOJunJ4 07296 07329 07296 0731S 
077;« 07774 5ep 9* 07293 DJ310 07290 07297 

0J£0 0.7774 Dec 94 07294 07295 07285 03783 

0-7*22 072SUoti93 OT2S1 

g*«OTs NA. FfTs rates *165 
FH'SaPOTlnt 4*905 Ofl 1331 

(CMBU l ear mark- 1 poKrwuobSlUOll 
M5E ?"*• w* 55 D - wn 0.5847 asm 

lts>« 0JB74 0-5830 OJ87T 

0J910 ■ 05590 DecM 1 0-5830 new a own OJS64 
ES. Bales _ NA. Rrf+i. sates 0X68 
'nS.'SSjnjKL® 1 on 1231 
JAPANeSEYBf (CMER) sow 


a 

+ 21 - 
+11 

* K ■ - 
+14 ,*!» 




+11 


OJn99000000M2Sep94 (UD948XJK)9507DJ)094830J)09510 

BA sate NA. Frfs. sales 14X94 / 

FfflQ penlOT SQ355 up 414 

tmrtarc+tPcMMMiiaOMI 
0J ^ 00 awT7 aM7S 
S^SSSP** SX9S3 QX990 0X845 0X904 
OTIB 04850 Doc 94 (UBOO 

EO- sate* NA FrYs. sates 19X63 
Fri'sapOTW 11X35 OH 7S4 


snB;.: 


-at ••• 


: * 

+« ■*» ; - 

+4J .•» - 


Industrials 

ify,* 1- ** WCTN) SUM h*am par A. 


78X0 

80.15 

76X5 

7400 

74X0 

7500 

7600 


g-£MOV9* 75.90 
030 Jul 94 76J0 

2-29??? 7tM 

59.48 Dec 94 71JS 
62-50 MOT 95 7200 

fflBW 7110 




SH0O S- 30 0.90 4110 43J3 

JS” 4100 Jun 94 4110 4XS0 * 105 4+M 

000 43J5JUI94 43X0 4*U SxD £S 

4375 Aug 94 44J5 mjs 44 01 fig 

0.17 44X0 Sep 94 45X0 <5X5 45X0 44.14 

g30 437000 94 46J5 46X0 4A75 ftlB . 

&J0 4670 Nov 94 4775 ^75 47.73 48.18 +038 4jP4i 

1 ISgsi ss ss ss +^«e 

H 2S3S& SiS :8 5 ft * ■ 

n S :s+g >: 

S'S! *770 Jun 95 fjM +<L9 S'. 

^05 Jul 93 47JI t0J9 W ; , 

wm ;g Sr - 

MTJooMint 1 nwas on S3 • ; 

KM 5W ^rgH° g .PjMBU IXMMA-aDWMrkOL «- 

Si SSS&XJgg 1144 14 “ 1U? ***' 

aasar ^ 

*"Aub 94 IsS - 

1574 15J5 |U| J SJB *009 1-—. . 

{^00*4 li3j 1SJ8 T57S l£J0 +001 l««ii 

iImd^m Its ,i47 1M7 1SJ1 


2)051 

I20L7B 

tes 

2073 

Si 

1778 

19X0 


15X7 Jan 95 15X6 
15X4 Fed 9S u* 

|H » 

|p “ 

E*f. late 109,25] Sj. ... 

FTPS OTOTtef 'Sow mFpSh”*" 
SSo a “ > ^SftSS IE ..0«*»U AHIF-WIW 

4IJ0 


19X8 

1973 

7030 

1773 

18.90 

ll«04 

2000 

|7J2| 


1SX4 

1*64 

1*37 

1577 

1400 

1572 

1577 

U0J 

1571 

1571 

1*97 

1071 

>370 

1*12 

15X0 

15X5 

1574 

15X9 

1578 

1*35 

1160 

10X7 

15X7 

1571 

1*78 

15X6 

15J2 

1508 

10X8 

1*93 

110* 

1504 

1600 

1*04 

1*95 

1*16 

1*15 

1*15 

1*26 



1*36 

15X8 

1*05 

1*46 



16X6 



1*66 

1*70 

1*70 

1*76 

16JK 

1601 

1703 



1774 


+•09 
,031 J1JSI 


+ai f*S 

+071 
+072 

+021 r _. 
+821 M**, 
+071 

♦on ■ ^ y 

‘ b- \ ’* 


SJflpfN 4*10 4*80 4575 4602 +079 L,- 

f*2«oy94 46X5 47X0 MXO SS +074 

4t * *770 4*75 47X6 +0J8S®.- 

<7X0 4*f0 4774 ’■Of* 

TTl+XUU 94 4*7a 4*70 <*«n 47X7 +001 77* .. 

SxIoSSJ ^ SS SS +07» 

».S«e* 4*50 +071 

FH’s apon hit i»0*» jf - * 3 * -I 


6100 

60J0 

6000 

3400 

4*13 


Sfoek Indexes ‘■•5 - 

SsSn ■ JSwSSM&ljj 355£*^67XS 469X5 - ■ 

Esa3P»a! S ® 88 ‘ 


Moody'S 
Reuters 
DJ. Futures 
con '- Research 


Commodity Indexes 




HE 




cy* 



►•/AT 




“g 814 Bin, 

Porsche Affirms 


Page 19 

EUROPE 


Wee, Corr - . 


Its Loss Forecast 
S§S8§§S?|b Sales Rise 


But ffiecwvir 
T SWi &i» r 


Vfc ' £ GwjbM ty Our Scoff From Dispatches 
■ .; U FRANKFURT - The spons- 

or maker Porsche AG nswied 
better-than-expected first-half 
" K:dn ~ sgies Monday and confirmed its 
forecast of a narrowed loss for the 
current business year. 

Hie company said sales in the six 

. "* P^r.idc,,: 1 - months ended Jan. 31 rose 20 per- 
■ \ cent, to 980 million Deutsche 
J "- r ci. . ; . , marks (5579 million) from 820 mfl- 


^nXe roxC -St 

Qau Sv>:;n- ■ , CW 

■” >4 T Mvinri,. ^ 


JfriUit, 


3crf.-TTT.se fc- 
:»UOs*d;jrv a-. 

> in Rv'choir 
S>«trr?? SMu::.'-.. 
imft Cct?.. f,- - k_ :" ! 

OT.p; SC> V r * ; ' 

«j^wpni,«5Kc5 

“ from 338 miUion, and export sales 

A C n l;xi m , rose 16 percent, to 557 million DM 

O oDllt into 4- 1 n'i ^ rom million DM. 

’ q. . ._■_ LIRtj Unit sales were up 6 percent, to 

7,033 from 6,620 a year earlier. 

The company maintained its pre- 
dictionof a group loss of 140 mil- 
lion DM to 150 mini on DM for the 
fnll year, according to Porsche's 


first half of the current year it had a 
loss of 1 14 million DM, compared 
with 120 million DM a year earlier. 

But the company is upbeat now, 
saying sales and orders for its 91 1 
Carrera cars were going well, 
though start-op costs for the model 
continue to pull down earning Or- 
ders as a whole were 42 percent 
higher in the latest half year, it said. 

'‘The second half of the year wiU 


eiroMc-r. 7 ^j 

i c . ; * - T r .r Sl? ' r tion : 




‘ "f W. Z — »-«»• u*u Mm.- i Hcacwratj nan oi tne year will 

’’ ‘ ivi 1 * yC 0f “J®- ““ceding be substantially better, tfamir* to 

-Y an estimate of 920 million DM intensive measures to increase pro- 
made m January. duaivity and cm costs," PorShe 

1 Domestic sales m the first half said. 

The company said h planned to 
make 18,000 cars in the current 
business year, compared with 
14,362 in 1992-93. 

Chief Executive Wenddin Wje- 
dddng said Porsche hoped to break 
even in the 1994-95 business year. 
He would not predict when the 
company might resume paying a 
dividend, saying, “We can only pay 
a dividend when operating profits 
allow." 

Mr. Gnauert said Porsche’s Ger- 
man subsidiaries were already 




( Reuters, Bloomberg, AFX) 


Russia’s Vodka War Rages On 

Smirnov Fights Smirnoff to Claim National Heritage 


By Margaret Shapiro 

Washington Poa Service 
MOSCOW —There are few things that a 
Russian takes as seriously as his vodka, and 
few Russians take it more seriously than 
Boris Smirnov. 

The pudgy, bearded former KGB man is a 
descendant of one of the most famous vodka 
makers of all, Pyotr Smirnoff, who until the 
1917 Bolshevik Revolution produced spirits 
Heublem Ido, an 


ilitan 


for Russia’s czars. But today 
American subsidiary of (hand M 
PLC claims the right to the SminKtfi nan*^ 
and its brand is sdUng briskly in Russia. 

For Boris Smirnov, 35, this is no thing less 
than an affront to national pride — and his 

family name —and one that he is determined 

to rectify by producing his own “genuine 
Smirnov vodka and demanding exclusive 

rights to the name in the Russian market 

The battle for Smirnov — or Smir noff, the 
older transliteration of the nany» — is sha ping 
up into a David-and-Goliaih contest with a 
Russian twist The underdog is a descendant 
who never left Russia, and be is seeking to cast 
the world's largest seller of vodka as the for- 
eign villain. The prize is a piece of what will be 
a mul timini on -dollar vodka market 

“Vodka is something Russian," said Boris 
Smirnov in an interview at die crumbling 
building in Moscow where Ins family’s com- 
pany stood until the Bolsheviks nationalized 
it “Pyotr Smirnoff was Russian. We are not 
trying to manufacture Johnnie Walker Black 
Label here. We’re not trying to make French 
champagne; We’re trying to make something 
that belongs to us." 

Heublrin and its London-based parent 


company set things quite differently. By their 
account, Smirnov is not even a direct relative 
of Pyotr Smirnoff, whose sot fled Russia 
after the revolution, re-established the family 
business in Poland and then legally sold the 
name to the Russian fcmigrfc who in turn sold 
it to Heublem. 

“He claims he's the authentic Smirnoff, 
without any legal or material background," 
said Heubldn's Moscow lawyer. Boris Me* 


Tfae underdog is a 
descendant who never left 
Russia and is seeking to 
cast the world’s largest 
seller of vodka as a 
foreign v illain . 


grelishvili. “He says, 'I am Russian; and 

that’s supposed to be enough." 

Heublem did not expea to become em- 
broiled in such a fight when it turned its 
attention to the opening Russian market in 
1991. Company lore has it that after the 
Bolsheviks took over, the Smirnoff concern 
was shut down, and family members who bad 
not fled were: never heard from agriin 

But when Heublem went to register its 
Smirnoff trademark with authorities here, it 
turned out that Boris Smirnov had been there 
three weeks earlier. He had registered his own 
“P. A. Smirnov and Descendants in Mos- 
cow." and Heublein's claim was rejected. 


loss of 238.8 million DM. In the 

;e European >. r..-r - 

:c rake Ps ; 

Makes a Start on Its Telecom Sales SMOKE: co mp 


The two rides tried find a 
Contemplating the huge post-Cdd War] 
lie-relations possibilities of rejoining S 
noff with Smirnov, Heublrin offered Boris 
and other descendants he claimed to repre- 
sent S2J million and shares in a Russian- 
based Smirnoff operation. Boris himself was 
to have a top job with a SlOOjQQQ annual 
salary guaranteed for life; 

Then something happened. Boris Smirnov 
said that as be was preparing to sign th e final 
rinrttments he found change* made without 
his approval and became convinced that 
Heublrin had somehow “bought" his lawyer. 
And, he said, it jus did not at right with him 
to “sell out" to some foreigners. 

“A Russian man’s mentality doesn't allow 
him to just sell out Ins affairs like that.” 

Heublrin suggested that Boris balked be- 
cause he had falsdy claimed to r ep resen t 
many Smirnoff descendants, and would pro- 
duce their signatures, when he was really only 
representing himself. 

Since then, litigation has sot ceased. The 
original ruling denying Heublrin the nse of 
the name has been reversed. Other rulings 
have been overruled car rescinded, and both 
sides have insinuated that political and finan- 
cial pressures have played a major role in this. 

While Boris Smirnov has great plans for the 
future, right now the “genuine" product pro- 
duced by his tiny company is almost impossi- 
ble to find. 

Heublein’s Smirnoff, on the other hand, is 
on shelves everywhere, its blight .red or blue 
labels asserting its daim as “successors to 
world-famous PIERRE SMIRNOFF. MOS- 
COW, RUSSIA, Purveyors to the Czars." 


•T..A 57WP 


\ Investor’s Europe 





,.pn - Parts- :■ . 

&;S0S.kKfex \ CAO40;55 




•: ‘r-aaa: 









•23S53F:>m: 



-AtssJWjy; 




S2&29 . -0,89 








'326.65/ • -G2Z 







It V.'S. 

.VIHIila: \ .... 

— Erwaaft 
ag*#g 




t mmxjm 




491.76 . . : >028 


Sources: Reuters, AFP 




iDUmiioml Herald Tribune 


Very briefly: 


VJslC 

n the L r.i:rc S .- c 


aocorp Inc., a rmany given me pusn mat puis into 

i\’?wi-:sr. -L--.-.-: ■ "1 . „‘ r ^ motion the sale <rf Italy’s state trie- 
‘.e'A t . . - . communications industry. 


Bloomberg Business News 
MILAN — The government has 
finally given the push that puis into 


fLiurr.:...: V- 
^«:rc - 


L A r.^Accwdiiig to analysts, the most 
important thing about the govem- 
'r.nienrs announcement over the 


, u;.. 

I K. - .••%,- 

iXlL 

t-Ca.. 
:!:i ~ 

4 — ■ 


rueficj r -■ 




: t 

C.. 


'■ .weekend about bow it will merge 
t - ■ , : I W* s teleco mmunicatio ns compa- 

■ 1'J: > • -,cf {ties is that the announcement actu- 
ally took place. 

- -• : sma ‘ The merger of the domestic tele- 
_ : .^^h6ne operator SIP SpA, overseas 
u r .!°^ ralor Italcable SpA, European 
‘ ^operator IriteL radio-marine com- 
-- *'“■ *— ’-t%flrrv SIRM and satdlite company 
list step 

-Creating the tong-planned Telecom 
ItaKa, a 27 triflion-hre-a-year (516 
^billion) company that win be sold 
__io private investors. 

Last weekend SIP annmTvwl 
..that it would be offering its own 
to take over Intel, Italcable, 
and Tdespazio. Irilel, SIRM 
and Tekspazio, which are owned by 


- ki - ; ;.fiM<^n»7iD is the first step toward 


■jir-'.i 


Stet SpA, a holding oou^any con- 
trolled by Istituto per la Rioastru- 
zioce Indns triale, the stale's indus- 
trial holding cranpany. TmtenN e is 
publicly traded 

“What’s especially important is 
that the government is seen to be 
rushing to get it done," Marcello 
Sallusti, an analyst at Nomura Re- 
search in London, said. “Investors 
must see that it is actually getting 
underway." 

The projected sale of Telecom 
Italia dwarfs previous sales in Ita- 
ly’s privatization program. The 
government has sola stakes in three 
banks, raising just under 7 trillion 
lire, as well as several smaller in- 
dustrial companies. 

But the creation and sale of Tele- 
com Italia had been planned for 
well over a year — and nothing had 
happened. 

Institutional investors, particu- 
larly overseas ones, have been 
heavy buyers of Stet and SIP over 


the past year in anticipation of the 
sales and privatizations. 

But W illiam Cowan, an analyst 
at James Cape] & Co. in London, 
said people were “getting carried 
away" ova- the sale prospects. 

He said SIP would have better 


growth prospects alone than by 
merging with Italcable and Intel, 
because Italian authorities are fi- 
nally unwinding the system of un- 
realistically low charges for local 
calls and uncompeti lively high 
charges for overseas calls. 


TINT Resists Belgian Order 

Belgium’s Council of State, its 
highest court, last week issued a 
temporary order in which it ruled 
against TNTs request for a suspen- 
sion of legislation to bar the network 
from Brussels' cable channels. 


The Associated Press 

BRUSSELS — Armed with a 
temporary court order, the Belgian 
government said Monday it would 
tiy to ban the U^. -based TNT & 
Cartoon Network, but TNTs cable 
operator said it intended to contin- 
ue distribution. 

Turner Network Television has a 
24-hour mean of U.S. cartoons and 
movie classics, which clashes with 
European Union legislation man- 
dating a majority of EU-made pro- 
gramming in the 12 member states. 


Belgium's audiovisual minis ter, 
Jean-Marie Dehousse, on Monday 
threatened new court action. 

The Codhal cable company said 
it would keep transmitting TNT 
while the Council of State complet- 
ed an in-depth review of the case. 


1. ■ f i - n« 

Ir-P : 


NYSE 


Monday’s Closing 

1 ' Tables Include the nationwide prices up to 
1 - the dosing on Wan Street and do not reflect 
earn l aie. trades elsewhere. Via Ttm Associated Press 


(Continued) 


: ’ 4 *. - 5 ■ 

- - * 

_. j-- • • 




mah Low Stock 


SB 

P» YMPE IMPS Htoti LawLtfBtcyne 




S3 


-w *. 


nw***- 1 

w - 


jdOni- ■■ - 
■WJ-'J; . 

51*’ 1 »'■ 

ir M ( “ 

®n*. ***■«- 




indu-stnais 


'*.3: / 

• \r xr.Z* 

* 

4fl*^ -Tt 
? £ " 

Z \ t 


f* J 

^ y 


’Ssi* :*■ 


j - ^ , ' ar - 

r .. 




* ' 

* 

-crrfrs^. 

* Sl 



G* 





u W Vjg ’is 

g ! 1 % la 

| = i f h 
k ” ’i ss f 
& IT ’8 R« fp 


itt :) 


»St55B«r 
SP»hrndyd< 

HViTonoarn 



IlMrth 

HoriLowaock 


Otw ym PE lm, HBh LowLoeriOn'w 


i5W 

JBitt 


*'3 

a isa J&JZ - 

ial kc4 


B xn 
17 «** 


S7^ u xrvi *11 


4M *y*i 


I level 

'Wi 





„ JS H 
SSi ’fit & 


31% TvSvmFT 


ms?: 


E If f* =1 

5 

a go — ‘ ~ 

111! 

IT ioi5 

Sif 

a S ^ p |S 

— ■*! >v» ij> iw ♦» 

S u um UyS uu _ 
4M »V4 V% fl* — w 

*a £i£ K, fefc —a* 

w| ir=; 

IlillS 


iTykw. 


.i2 U 

53 h 


22 


W 
fi 1 ^ n 


WWl 


+V. 


SIM 

J "*S 2 $8 3 2£ s k i gi 

J 2 U ||^ Wk.SWlgi 


lofC UO 7.5 




4 


a __ __ 

ISt 

. in Bvt 

«TS 83 
\\ ia ^ 

Nl 

13 119 j»d . 

21S.8S! 


SB itt ile-* 

_ 1B#0 *tv, *57. M *y% 

IdBsls 

il . 7» 


Li 


49 113 


1R! IP* 


sa sa_i a 

u« nS — v, 


HUlmlMc 


Dty YM re MOs HMi Low LOWst OTgc 



r : 


g-|i 

5 Sti 


a " 

« « g 




ja , a 




a i ib , 
Se J 


88 :* 
\fft Vv. T« 

51U nifc - 

as m :S 

cyj *v> 
i«N is *w 

. U%K IM — V. 

, a \§z =a 
“a 'ft -* 

1 B 3 

P©-? 

*« Ift jg -c 
'g sa ilS ia tS 

T3C 13. uy» — >4 


Ra:; 



7 " e 


82 

Mi j s* ift n* 

h 





RW 
a 



as d: 
- , - ^ ® 
g= p IB S3 jH 

* * 2 P g E -l 
S : 1 fc B P 3 

i : r 




iS 


SlVk 3 C* 


z 

>j u *2 i J -ft 
Iff® Sg 

J 5^ s* rc-3 

Silfeifel 

jrls-bs 

| i I p | 

? S" 1 * 8S s k ^ 

TV SI 16 ISK m -W 
I SB S Ift3* <- 

z S S3 n! Jbi .714 -C 


-« 
— irt 



m* 
i g 

If&ti&wFBvr .iw 

S> iMwvm* -« 


|i J#S8^ 

y ^ » StTi liVv 


E»3 

ut 


10 1* Sbl IBM 

BJ) — 1 Sli! 

ij a J43 


I 


15 “8 _ w 

:h|! 

Si » 





=g 

ill 

is E ^ its -fi 
= 1 'ft r ft ’ft - 


2345 

T3Vj 


Continued frwn Page 17 

campaign asking whether people 
who had just thrown off Commu- 
nism wanted to restrict their free 
speech again. “It isn't very hard to 
guess who financed that cam- 
paign." be said. 

So vital is the investment of the 
tobacco companies that Eastern 
European countries either require 
no beaith warnings on cigarette 
packets, or have looser require- 
ments than in the West 

“Where there is no legislation. I 
have never seen a tobacco company 
voluntarily put a health wanting on 
its products,” said Tapani Piha, the 
regional adviser for a tobacco-free 
Europe with the World Health Or- 
ganization in Copenhagen. 

Mr. Piha said that when the 
Czech Republic began requiring 
warnings, the manufacturers made 
them so small as to require a mag- 
nifying glass to read than He end 
a packet of Danish cigarettes he 
bought in Czechoslovakia carried 


aides Look East 

the health wanting on the tax 
stamp. “! have drown it to many 
visitors in my office, and not one of 
them has been able to find it,” he 
said. 

Mr. Joossens said there also was 
a large but imquantifiable 
for smuggled cigarettes, which are 
sold without health warnings. 

But the spokesman for BAT said 
the company routinely puts health 
notices on all packages, whether or 
not requ ir ed to do so by law. 

Effective action against smoking 
in Ea-stem Europe is mtiOody to 
materialize until the European 


des, Mr. Joossens said. The Union, 
which several of the Eastern coun- 
tries hope to join, has for years 
been discussing a total ban cm to- 
bacco advertising, without getting 
anywhere. 

“Almost <me out of two people 
who die prematurely in Eastern Eu- 
rope and the former Sonet Union 
die as a result of smoking tobacco,” 
Mr. Lopez said. 


• Air France’s sale erf its stake in CSA. the Czech Republic's national 
airline, is being delayed by the French carrier's promise to guarantee 70 
percent of European Bank for Reconstruction and Development’s $30 
million investment in the Czech carrier. 

• Bic SA, the French maker of pens, disposable lighters and razors, 
earned a net 396 million francs (569 million) in 1993, compared with 374 
□nllion in 1992, helped by a 3 percent increase in sales. 

• Gnsse des Dtpfts & Consignations, the largest institutional investor in 
France, estimated its consolidated net profit rose 65 percent to 4.3 billion 
francs in 1993, aided by a 50 percent increase in profit froth trading. 

■ France’s Economy Ministry said it expected gross domestic product to 
grow by 1.4 percent in 1994 and Z7 percent in 1995; it forecast inflation 
to be 1.6 percent in 1994 and 1.7 percent in 1995. 

• Britain's seasonally adjusted merchandise trade deficit with countries 
outside the European Union narrowed to £672 million (51 billion) in 
February from £788 million in January. 

• Baser Homes PLC which was spun off by Hanson PLC. said the 
public portion of its share offering was 1.3 limes oversubscribed. 

• Hungary posted a trade deficit of 53.46 billion for 1993, compared with 
a $324 million surplus in 1992. 

Bloomberg. AFX. Reuters 


Daimler Quiet on Succession 


Reuters 

BONN — Representatives of 
Daimler-Benz AG were tightlipped 
Monday about reports that Jfiigen 
Schrempp would succeed Edzaid 
Renter next year as management 
board chairman of Daimler, Ger- 
many’s largest industrial group. 

Mr. Sch re mpp currently is head 
of Daiml er’s aerospace subsidiary, 
Deutsche Aerospace AG. 

Der Spiegel magazine said Mr. 


Reuter, 66, who plans to retire, had 
agreed to recommend Mr. 
Schrempp for the job. 

A spokesman for Daimler said 
there would be no official decision 
on »ho would succeed Mr. Reuter 
until after the company’s annnal 
meeting May 18. 

But neither Daimler nor Deut- 
sche Aerospace denied that Mr. 
Schrempp had been informally 
chosen as the successor. 


MINORCO 

RESULTS FOR THE SIX MONTHS ENDED DECEMBER 31, 1993 


STEADY PERFORMANCE 
DESPITE WEAK COMMODITY PRICES 


□ 

□ 


□ 


Completion of the merger transaction 
to acquire interests in gold, base 
metals, industrial minerals and pulp, 
paper and packaging. 

Earnings before extr a ordinary items 
decreased by 10% to US$106 million 
while earnings after extraordinary items 
increased by 23% to USS164 naifion. 

Interim dividend maintained at 19 US 
cents per share. 


□ 

□ 

□ 


Operating earnings, now representing 
the largest component of earnings, 
increased by 77% to US$67 million 
compared with the previous half-year 
(restated to reflect merger transaction). 

Investment disposals realised USS450 
million and Minorco invested US$270 
tmlHon in existing and new businesses 

Proposed change in year-end to 
December 31. 


RESULTS 



Half-year co 

Year to 


December 31, 

June 30 

USS miHions except per share amounts* 

1993 

1992 

1993 



Restated 

Restated 

Sales 

1,200.5 

1,172.0 

2,776.4 

Operating earning? 

66.6 

37.7 

139.8 

Earnings before taxation. 

127.0 

149.4 

340.0 

Earnings before extraordinary items 

105.9 

117.8 

251.9 

Earnings before taxation per share (J) 

0.56 

0.66 

1.51 

Eamings before extraordinary 
items per share (5) 

0.47 

032 

1.12 

Dividends declared per share (5) 

0.19 

0.19 

0.57 


*Bjscd for aB period) on 225.3 million duns in awe. 

INTERIM DIVIDEND 

An interim dividend of 19 US cenu per dure has been declared for the year to 
June 30. 1 994 payable » ihareholdea regmercd in die boob of Minorco at the close of busintas 
on April 8, 1994. The interim report wfll be nailed to shareholders on or about March 24, 
1994. Copies nay be obtained from die UK tnmfcr agent. Barclays Registrar). Bourne House, 
34 Beckenham Road, Kent, BR3 4TU, 


MINORCO 


MINORCO SOCffiTE ANONYME, LUXEMBOURG, MARCH 17, 1994 




I 


J 

« 

t 

Jl 

1 

v 

h 

> 

•< 

■e 

Di 

!t 

ie 

2c 

.ri 

lk 

? e 

ib 

in 

ns 

ni 

th 

ioi 


I 


0 

n 

n 

i 

s 

9 

0 

1 

n 

.f 

IT 



















til; 


Lit*: i 


NASDAQ 


UMontti 
Htotl Low Start 


Wv YW PE 100s 


I IlMHti SU 

LwLimai'n I High Low Stack DU Yu pe lOOs Won LawLstntCh'w 


NASDAQ prices as erf 4 p.m. New YgrR time. 

mtslisi conjpiied by the AP, consists oi the 1,000 
most traded securities in terms ot dollar value. It is 
updated twice a year. 


HMonm stx 

ttrtlUw Start Oh YU PEWs VVWi LMLOMOl'M 




s 


6 





XSk 


i 


it 










mm 


2_Ot 31 .4 47 U 


324 

2 

18 

34 

.T 

48 

138 

13 

f 3 




- <3 1 J 1 
M 3 11 ffl 


1A0 

2J 


— 


— 

-44 

1J 


1 


is 


3 




d*rr 


; S 


r: 


RiKid 


f,V !>«>( 


jssrr 


* 30 i 3 fl 


Vi \ ' 

it*, v,- . 

!/ v, -t.-v 

wlvrjrf.y 



H 


JBJ 8 :tS 

gjsi. 






P-H 


£ *8 


m 





$ 


i 


MLH SP** Dtv YU PE Ss High LowLCWf Ch* 04 I WgBLBw Stock Dh YM PE 100s Wgh U0wUat«O>|» 


891 75* 7 

a « m 


; 


{■ 



!J5t r3 7 


=£ 3 « 

*i*U**Ol 


LU 


t 


u. 


Ml 3 23 1317 








S ES +* 



if 


£ 


& • 






i 


1 1 


m 


r « 

130 13 I 







lie 27 Vi 

m h 

310 33 


K'V 


i'S 


: .! 1 


•Si 


f ***+_• 


i 




*c M^i+r- 


It- 


4 ~-|y»CJl 


Monday’s Closing 

nctude ttie nationwide pria 


Tables include the nationwide prices up to 
the closing on Wail Street and do not reflect 
late trades elsewhere. Via The Associated Press 


m 73 
5.00 fj 



■i 3 . A 


n Sit Z3 
O .01 J 
X ISO 1) 


EM 



1512319 

a 

IX 


n 

16 

75 

93 



(240 




8 


29 

X 

48i 


995 


1044 

10 

49 




IX 

_ 


9 

21 

94 

22 


Ot 41*RkREn JO U . 93 

5% 3 PrkSain SO 9.7 _ 91 

5 M mmcsupn - - 143 

2 HFrkSpvvf _ _ 7 

SW 4WF rrofe _ _ 46 

9 V. WuFTBSertUl —36 IQ 

4% TliFrtodm .16 17 18 4 

2m 126* Frtscfw J4b 1J 17 fl 


Stt 5%— V> 
4 4% + H 


91 416 4 4% +Vk 

63 5 4Wn Oh • 

aZ 45 A &-* 

’s is a a-* 

fl 14 1» 14 - 


rrr 


9V* 5%LBEifrwt 
49 43 LflhAMGNti94 
3416 2844 UhORO- SJ1 
13 BMLahYenwt 
BV, 7%L*hJY wt 
lf%ll%LHV8ni JO 

3 * ABBOT 

IU 144 LnrVCP 
1616 916UHTWK 
ljviiDwmrta 
26 ’A 21 LyncJtC 


- 136 7 

_ 603 4244 

- 10 34% 

- 227 rv» 
_ 2B4 SH 

15 19u19H 

_ 69 VJji 

37 260 22% 

- 2 516 

17 133 1414 

16 64 13% 

7 3 34 


646 674 —16 
mm 42 W - 

3316 33* - 4 
646 6<Vu— %, 

fl a — % 

191* 19V6 _ 

2ft 2ft 3 * 
at 5 b* — % 
1346 14 * 14 

1214 13 — y. 

2346 2346 —Vi 


6 jtA 






+ % 

xyb’+tfc 


1344 — V4 
246 - 

646 — V4 
6'A —16 
10 W 


Tfu 

4 S 

*44 646 
1546 1546 
6 6 W 
246 266 

95 ? %• 

4 V. «V6 


A4f 117 _ 
2JA611A - 
— 13C 
_ 4 t 


- 12 ! 
- 11 
J7M1J 21 


746 746 

% ft* 

6V6 614 

,4V. 14V4 
646 6M 
m 7 w 

ft 

41* 4V6 


244 2V4 


.74 e SJ _ 
_ 12 
46 17 19 


TAB 7J - 
1.90 7.9 _ 


10 1*1, Wu 

21 4 4 

1541 14 1314 

2 771* 77V6 
42 u 2114 23 
i 4 i 9 m 

178 566 946 

42 21'* 21 
22U12H 13V4 
BS l"6i II* 

16 2446 2446 
48 3446 2316 
100 VS. >*, 

17 166 1V6 

161 18W 1766 


4 -V S 

^ t 5 

24VI+11* 

S H — V6 
V* —Vi 
71!* _ 

im + 1 * 

lit*, — Vu 

«J 5 

ft* 1 ; 

18. *66 


±m 


J3r 1-0 52 
_ 8 


— 7 

■ AS 4.4 _ 
.790 6.9 _ 

.790 At) - 
2-05 e 4J 14 
.64 2.4 12 

JO 1.7 33 
A5 1J 33 
134 8J 17 


JO 1J 12 
*4 7.0 22 

X 1 .S IB 


1.04 7.7 .. 

_ 15 
_ 15 

-OB J 24 


59 17V, 17 
25 17 1646 

IQ Mi 44* 

4 346 316 
128 6V4 516 

BA 33 V« 33 
X 11 * 1 W 
314 21* 2 

40 2S Vt 34H 
98 716 746 

6 H 18 
447 12'* 1146 

1 W H ■!*, 

2 23 22W 

IBS 13'A 13 
140 i<v,» hvm 

7 aw 396 
32 Ith 1 1W 
52 llWdm* 
4 131* 13 

83 4546 45 
10 3416 2416 
35 XV* XV* 
20 3046 X 

3 1466 14V* 

B 96 96 

1*1 3h 3"*. 
114 2516 3516 
421 96* 8W 

20 1446 14W 
3 3'Vi, 3‘Vi, 
102 1346 13W 
50 3'A 3»u 

159 2>V„ 246 

252 25V. 2416 


171* _ 
1*46 —46 
44* _ 
346 — V6 


Qt** 


11 *— Wt 
2 — V6 

2456 —46 
716 — V 6 
a — Vi 
1156 — 1* 
•Wu _ 
23 — W 

131* —46 
lift. — Vi, 
35* — 1* 
II*. - 
lit* — 16 


1356 * 56 

45’A *4* 

3416 —16 
X*6 — V* 


S’VW — 

2516 —4* 
««* • I* 
1416 _ 

3"*. ‘'A* 
131* —16 
3'A _. 

2*6 -'A 

2416 -46 


75, S CJI Rn 
bv. main 
9V, 3T6CMICP 

346 l'ACSTEM 
13Vj 10 CVBFn 
5W SWCVDFnn 

i'% V«CXR 
72 24 >*Cab!v 3 n 

I 1 * '■■■ rw rrnn 

3'“n lVn Conor! n 


— 9 

A 4 e 10.2 _ 

... 7S 


■98 * 56 » —46 

k-a 8>A 81* 8V« • 46 

169 9'* B96 9V6 —I* 

13 2 1W.I 2 
1 m* in* jiw • w 

19 41* 4Yu 416 _ 

151 146 IV* I —** 

225 60 W 59 Vj 59 «. —66 

724 W 16 46 — V. 

125 246 Tfu 266 - 


- - in 11* 16 m *v„ 

- - IB 344 35S. 3V6 -Vw 

z = ■« S I 

_ B 1 *46 446 *46 _ 

-144 1257 3 216 ZW— VS, 

- X 70 5V6 5V6 5W —96 

- ^ 437 *46 « *W - 

- - ZS TVu 216 7Vu *Vu 

- X 45 7 51A 7 +4* 


- X 45 7 4V6 7 +46 

JHI J 8 314 1046 916 10V6 *16 

.1*1 1.9 19 252 846 846 IV* - 

JO 1J 13 J 2844 2841 281* —W 

_ 9 IX 4V6 49* 41* —Vi 

A46 3 21 507 X 1946 1946 - 

- 17 10 3 V* 3V> 3V* — V* 

- - 31 4V6 i 4 — V6 

- - 1743 2V6 2W 296 —W 

- 31 288 1B16 14 1816 *46 

- X 21* 9 |V6 816 *V6 

- 5 147 246 2 2 — V* 

- 95 X *16 *46 .*W *46 

1J7 10.1 - 21 1A6 1346 13*6 —46 

J2 2.1 21 SB 15V6 151* 15J6 *V6 

54A0 - ! W A HI . 

A9o 7J — TS4 94* 946 946 — V* 

JO 4.1 - X M6 fk 716 - 

:«! .? ir !&!&-« 

:s US « 

. J* X9 9 2 1946 1946 19*6 — V6 

1J1 W I « » 191fc B 3 * — V. 

1.75 4J - 77 41V6 4(746 4046 — 1* 

JW jt 413 3129 1246 1216 1216 — W 

28 U II 25 1316 1346 1346 *V6 

- - II 346 3% 346 *V6 

- - 32 916 9V6 946 + 46 

- _ 253 3 27* 3 

- X 2980 3716 3SW37W+1V4 

- — 345 22 VS Z1V6 221**116 

- - ID 30 W 30V6 XV6 +46 

_ _ J1 81* BV* 81* _ 

- _ 313 446 416 416 —VS, 

JOO 4J - 44 9V6 9 9W +J6 

_ — 3 4V* 61* Cl* - 


346 
157 o TA 
X .41* 
10 11 
29 14W. 
x iin 
21 111* 
3* 616 
4 191* 
>16 
29 10'A 
14 346 

38 XV* 
2 144* 
45 10 W 
4V6 
43W 
9VA 
1246 


d 3V6 316 
71* 7W 
446 41* 


- 5116270 U4V* 3>Wt 4Vu +V6 
1-5D 50 - 162 30 V* 29'A 291**14* 

- - 11 1016 10W 10V6 - 

- 41 74 * 546 516 —V. 

- _ 492 15V* 1496 1446 —46 

- - 795 141* 16 14V* _ 

2J0 US - 31 14 15W I* - 

I AO 139 - 10 1IV6 1146 11 V* — V6 

1J0 135 - 33 HI* UK 119, +46 

MtU - 92 17V, 1716 17V, *V* 


55 4 *Vn 4 "/u 46 *. —V„ 
M 4.1 I* 2 Ifl, 141 * M +V 6 

-78 e XO 13 55 916 9 9 V 6 — *6 

- - 79 146 IVm ‘Vu — V„ 


- -13*38 IV* lVu !•* _ 

- IS 64 446 4lA 4V* — V6 

- - 3 3 3 3 +1* 

-64 IJ 13 12 36 354* 351* —46 

_ - 104 111* 111* 1146 +'« 

_ - 108 ** 46 1**66 

_ 15 283 39V* 3X6 3816 — W 

UO 45 34 25 711* 7116 7116 >1* 

.I4e 13 — 4007 m 12*6 1366 *» 

.99 9.7 — 1914 10W 101* 10W +6, 

.10 \A 9 26 746 7 7W _ 

AS a 2J - 10 IB 177, 171* —'A 

2-00 1 A 10 11 lX'A IX 139SV +W 

.77 4,9 9 10 1446 14*6 1416 — W 

Me .1 - 70 It* 81* 8 VS _ 

- 119 445? u 221* &W23H+3* 

_ 5 S 3 44* «1* 416 + «*» 

t.lfe *4 17 3 18'A 11»A 18V. —V* 

JO I J X . » XV, 2716 37V, _|* 

32 13 31 42 »f* MVS 2616 +66 

- _ 9 124* 121* 124* ♦ 'A 

_ 19 5 45’A 45W 45*A _ 

- 31 475 511* 51V* 51H -V* 

_ _ 4 3'A 2Vh 2*m _ 

- _ 143 2W 2SS 2*6 * Vi 

- _ 3 3V. 3W 31* _ 

AS 10-4 - 152 46* « 4W >6 

_ _ 13 9V, 916 9W _ 


3V6 IV* 
61W27VS 
12W TV* 

12 & 231 * 

4V* 3W 

35W . 


12'A 9WK 
2316 Wit 
9'A 516 
156, 99* 
CM TV* 
5V, 76. 
5V, 3*6 
231*131* 
10W 71* 

10 Vi 41* 
94* 7 

w. aw 

1716 SV6 
716 16 

2066 766 
17U14M 

4V6 3 

n« 3 l 

91* 5V, L 
7% 246 
a ** 

9 «* 

766 3W 
7* SV.I 
3 V 6 lVit! 


_ 

7 

440 

TVt 

41 * 

7 



in 

1916 

1 BV, 

18 % 

3 J 

_ 

>17 

46 S , 

4 % 

4 % 

-MOO 

485 

11 'A 

10 % 

11 

43 

I 

319 

44 


Xll 

10 

36 b 

10 



192 

34 

J 3 W 

33 W 


175 

120 

31 %. 

3 V* 

3 % 

_ 

_ 

9 

10 V 6 

10 V. 

10 V 6 

.1 

M 

108 

low 

row 

low 


X 

116 

6 k 

. % 

66 

1 1.1 

X 

13 

11 'A 

low 

10 % 

_ 

_ 

XI 

19 % 

19 

19 % 



2 

2 W 

2 % 

2 % 

M 4 

_ 

14 

3 %. 


3 %, 


1 

14 

15 % 

15 % 

15 W 

25 

n 

ft 

4 W 

15 % 

ir- 

15 % 

_ 

M- 

404 

ISM 

is*. 

15 % 


_ 

41 

3 V, 

366 

3 V» 



45 

no 

As 

5 ti 

A 

A' 


t 

73 

3 

2 V. 

26 * 

_ 

_ 

49 

Jft 

51 i 

51 * 

M 

_ 

5 

Tu 


•Vu 

M 


35 

7 i« 

7 

7 

z 

13 

x 5 

516 

766 

566 

76 * 



13 

IIS 

1 > 9 « 

1*6 

l'V„ . 

_ 

H 4 

IX 

*6 

6 * 

V* * 

HI 

H. 

1 24*11736 

14 % 

1766 - 

.1 

25 

6744 

XV* 

29 % 

29 W 

17 


X 

13 % 

13 % 

136 * 

_ 

_ 

IX 

7 V 4 

7 % 

7 % 


14 

600 

66 * 

6 % 

4 % 

SA 

7 

44 

11 % 

10*6 

111 * 

wmm 

_ 

15 

1 ’Vu 

I'Vj, 

in*. 

mmm 

U 

34 

2 * 65 , 

2 % 

76 . 

M. 


5 

52 % 

32 % 

52 % 

_ 

m— 

1 

916 

96 * 

9 % 


_ 

70 

96 * 

966 

9 % 

13 

12 

4 

51 * 

56 * 

56 * . 

H. 

30 

IX 

3516 

33 % 

34 %- 

10 

11 

49 

10 

,»% 

9 % 

I 1 J 

51 

362 

11*6 

1066 

10 % 

__ 


0 

5 % 

56 * 

56 * 


_ 

X 

12 % 

1766 

12 % 

__ 

12 

58 

S’* 

SV 6 

5 W 

_ 


79 

5 V. 

5 

5 

_ 

20 

73 

4 V 6 

4 % 

4 % 


2 d 

83 

22 % 

73 

22 % 

— 449 

5 

9 % 

9 % 

9 % 


41 

3 

5 % 

SV* 

5 % 


42 

in 

76 * 

7 % 

7 W 


— 

2 

3 %. 


3*4 

A 

12 

90 

9 % 

9 

9 % 

— 

11 

44 

l'Va 

166 

1 "A. 

_ 

79 

3 

1766 

17 W 

17 % 

5 L 8 

16 

91 

15 % 

15 % 

15 W - 

_ 

_ 

40 


3 Vl 

3 %. 


8 

8 

76 * 

7 % 

7 % . 


14 

143 

6 % 

6 % 

4 % ■ 


25 

145 

6 

5 % 

4 




X 

1 % 

IVu 

16 * 

_ 

9 

3 

8 % 

8 % 

8 % 

_ 


18 

4 Vi 

3 % 

3 % • 

_ _ 

44 

2 

6 % 

4*6 

4 % 

no 

H. 

105 

m 

1 % 

IH 




AS 
5.9 

U 

1 J 8 Q AS 
1-54 BJ 
134 8 J) 

1 J 0 7 A 




av* 4vv flCBcp _ _ _ _ ... .. _ 

aw 5 SFM - 10 2 8 Vi 8'6 8V, — W 

426635W5JW 2.10 5 A II 8 391* X 79 — 

aw. Vn»1 Ind - 41 335 3'i 3 Vl, TV _ 

is* 2?*5S B _ - 3X 5*4 51* 5W— S 

4*fc 24*SPirr _ — 25 4V6 4 4Vfc -V, 

1946 11V6SPI PH M M li til 17V6 14W 171* +V» 

21'A14V.SOBoCrnn - 93 U in 1«6 )4W _ 

'814 9W Sc^&orri 1 . - 112 1116 ll» UVa —'A 

.1*4 WSofxCpf J5T 4J „ 2 IV,, IM, I'S,— Vu 

146* 8vs55wn* AO 2A 9 5 15W I5W 1SW “ 

5016 44 SotAMGNrt-18 7.1 - 15 4TA 45 45 +’* 

4016 31WSrtO«n 2-53 6.9 — B 37>s 3&W 346, — !j 

B5W 751* SotHWP n 4J)T 4J — 15 B3VS B3VS B3W — V* 

171* 4V6SolHKwt96 - _. 101 BV, 7H 8W — 1* 

85 764* SolMSFT n3.99 48 _ 19 B4Vj 83V, B3M -J* 

34W»WS^RCLn2J0 48 - X 3146 3346 331* 

4946 47’A SolPRI n XQ2 6-4 — 9 471* 47W 47>-> — V* 

»'A nl ! a 8J _ 24 X 25V, 2SW *16 

4W 3V6 5trfPWb — - 10 36, 316 366 _ 

131* 70V65om*on IJDO 9T 9 10 1)1* ]| II _ 

161*1 3V. SDOOPM 1JU 7.1 - 2 14V* 14 14 +Vi 

lSWlTASDOOpfB .90 7.7 — 9 1266 J7V 2 IJW 

141*12 SO00 pfC 31 73 _ 11 12<6 12 12 — si 

249,25 SDOopfH 1 J2 7.1 - 16 2SW 2SW 25W - 

7W 446 Sandy .12 1.7 14 118 7Vi 7 7'/i 

12% MSMonBle - 95 916 9V* 96b Z 

« SOWSaorTO Me 1A 70 41 42% 4216 42V* -»6 

,21* yuSeonOC - - 7 11*1 lVit IV., ,i,„ 

im mscjrptre . S3 96. 9** 1*4 — M 

imimstfiutt .14 1-0 13 54 1516 1J6* 1516 —'A 

257 174 SbdCp 1-00 J 18 194 194 194 

1546 9 Setas JO lj 32 X21 I3'A 131* 13W — V* 

4W .msemPck _ - 299 3W 3'., 3'-. -W 

TV, lVuSemtch -113 11 31/. 21* 2'', 

OT6 5 1 ASenrvtn - - II » SH 56 _ 


- - 54 5 44 * 4 V. _ 

- 10 2 B'-i 8 M 8 V, —V* 

2.10 5 A II 8 391 * x 79 — 

- 41 334 3 ‘-« 3 Vu T 6 _ 

...ram si* 5%— v* 

_ _ 25 4 V 6 4 4 Vh -V, 

J 4 1 J It 419 17 V* 146 a 17 V* + 6 , 

- 93 42 146 * 141 * 146 * _ 

r-i- ~ - 112 l.m 11*6 11 % —'A 

,pf J 5 T 47 - 2 IV,. IW, 1 "„— V» 

li-.so 24 9 5 15 % 15 % 15 V, “ 


SniAMGN rl.lS 7.1 - 15 45W 45 45 +'A 
ISOpCCn ^ W . B 37V. sew 346, — V, 


_ - 10 36, 31* 36* _ 

IJDO 9.1 9 10 Til* II 11 _ 

1 -00 7,1 — 2 14V* 14 14 + Vi 

.90 7J - 5 12*6 12W 12% 




m 2Vi 'VuScanOC 


17W 111* StflUit 
257 174 SbdCp 
1566 9 Sotos 
4% msemPck 
7% ivusemtch 


7W WSovico _ ts 73 766 TA 7*6 

4 VS lVuShfltlMvd .. - 444 4V6 36* J . 


ID + V, 
33% ■ — *» 
3 - 

7 - 

17 *>6 

27 — W 

4*6 — <* 
366 _ 

15W — V* 


1 35V* 35% 35VS — ** 
83 35V, 34V- 3PA _ 


frt*l 


21% — fi 

17** — *6 
1414 +6* 
V — w 
Z7W - 
77V* — V. 
25W +» 

2466 —I* 
24W _ 

171* — 

M *-^2 

5 ♦ a* 

5W -A* 


4VS lVuSWiaMwt _ 444 466 36* J — V, 

99* IWSwMMd _ _ 8% 71* 8 — li 

'sj? zasys?* M j i* 212 ,4v » »■* 

BW aVbShWtfCP - 7 277 81* 8*6 8VS — V* 

awsnopco -50 12J - 149 4% 1 4 *v,, 

- 70 542 X*6 2H* » : 6 — V: 
«* «6SfCD _ - 304 4*6 A'/j 4*6 —V, 

966 4 M Simula _ _ 27 9'u 9'.* 9'* — V* 

121* 36* StoonSuP _ - 2 9 * 9 +5 

XVi 19% SmntlA 9 -44 1J 17 1 35V* 35% 35VS — *6 

40 !8%5mittt5 AJ 1J 17 83 35% MV- _ 

11% 10M SmfBln AOa SJ - 32 10% 10% 10 W I 

’SW^WhrtSmM J5a 5,7 II 15 14 % 14% — V* 

766 2**Sonnor — — 37 4*6 4 4 

16% IJWSCEflefH 1 jQ7 7 A _ 5 13 ’ . 135* 13’* Z 

10* 73-75 14% 14% 141* 
imimsceg p«3 ijb is - la uh 14% u** — ■* 

196614'ASttdrtE 1.19 7J _ 13 14% 16% l«* — «A 

MM IMiS^do^ 1.45 7 J - TO XV* 19% |9« — 

Mwimsoucoc , S J on a* ns Z 

5% - W J s*6 s% 1*6 >5* 

*w 4 Stage .13 2J ll 4 4% ** -■* 

m.WrBW I.19e 2J - 3238 46>v„ 464 d 481',. — i r 
37V. 25V. Stewn JO 23 14 27 23U ZB 1 ., _,jS 

,2* JTeilJ - 1 7% ?■« 7'4 „ 

15% fASertEI 16 358 136. 13% 13% ... 

76* S StvCpA 73 S 5S. 56* S'.—', 

- ?> -*?* jtorPr 1,00 193 7 40 SV6 S'. S’, .. 

25 396 7% n, 7«.— ■- 

]7W 4Wp»teVldi ... 25 V3 14% 14'/. 14% — 1, 

llW SWSulCUl _ X 2B3 7'.i 7 7 — 




XV* 11% sauces 

5 % 2 % 5 otSuowt 
4 m 4 Wr^l 


m 


37V.25V*aO0on 
796 4WSIrtCap 
15*6 PASWrtEt 


176* 4%srvieVidi 
1166 SVbSulcwi 


! Z 2-EK3 252P£aL"Hw sarn-w* or slock dividend. 


5% 

2V* — % 

»V* — *6 

12 % — % 

4 M — 1)6 


14'/. TOWSuntlTx 34 73 - 84 I1V6 11 11 


1? -21 62 U 4 3V. 4 - % 

4V, ZHSunNur _ _ OT 3V* 3% 3% 

74% 21M Simeo, n ._ _ 10 21*6 21*6 21% -% 

15% 8WfianCl«n _ 11 100 10% 10% 10 % 

!JW 2 *wB»4*Jr - - S 9% 9% 7% - 

5% 3%5urk^nto - 10 8% B% 

I|W l2*65uprSra 3 M II 79 14V, 14% 14% — 

7 3V65upfrnlnd 1301 10 204 £6* «V. 6*6 — % 

2W WSuptnun _ ... » i«., iy, p. 4 - , H 

* 5 SEJ#CbwT _ _ 30S3 4 5*6 5% ’ % 

1WTCS _ _ 10 266 7*.% B, 

MS - 21 4 9*6 9 9 

?% 1 46 Til _ 47 348 u4"/ v 4% 4*6 ■ % 

4Vu 4 TSF _ 5 10 «’■, 4*. 4‘. - '* 

*% 7%T5XCo - _ 9t 9'* 8% 9% +■* 

HP TWTaBPrO JO 1.9 47 40 10% 10V: 10% — '* 

”*Tosry Si 3.9 IS 103 13% 13% 13% 

'**6 8V,TocOpS JO 5.4 16 13 96* 9’i, 9’A — l* 

MW BWTotwPw _ 33 12 101a 1066 10% - 

21 13*6 TeinR -ID .7 43 X 14% 14V, ]4% —'6 

* WMToloflex At 1J 19 43 37% X'-6 37% — *6 

57 37*6T(miD Jft 3 64 SSI All* 42'. 42% — *6 

w 14*6TwnoGU 30a 3.7 35 1666 146* 14*6 --*■ 

26* iV.Tcnrro _ _ 9 m 1% i*6— 

% v-Tonncv _ - 10 v„ »V, %, ,■/« 


3*6 lVaTCS 
11% 7% TIE 
4*6 166 Til 
4% 4 TSF 
9% 2%T5XCp 
13% 7MTaoPnJ 


146. 966TOSIV 
14% 8V,T1>cOpS 
■ IW tWTolMPw 
21 i36*TemR 


dJI (>' 















































































































Page 21 




1994 


NEC Hunts fc 


*■&•**£ 


? S «?- |;JE 
**! ** 

:>: fci’ 

** i 1 * ■??■■ 

I .»? ki 

- . .1% v- 

!«* 4' lit 


By Paul Blustein 

JFiBAiMgrfti Pan 5rrvi«- 

■ TOKYO — Four smiling, bowing wom- 
en inrcd uniforms greet visitors at a marble 
reception desk in the lobby of NEC Cora *s 
ultramodern headquarters, the 43-siory 
Super Tower, built in 1990 when Japan's 
economic power seemed boundless. In the 
so-called executive zone on the upper 
^ floors, visitors are ushered into meeting 
rooms furnished with gray leather couches 
and low tables, commanding a view of 
Tokyo harbor and the environs. 

. “Thai’s Mount Fuji over there,’* said a 
company spoke sm a n , gesturing at the fam- 
ous volcano 60 miles (100 kilometers) 
away. “Well, actually, it’s enveloped in 
clouds right now — son of like the Japa- 
nese economy, I suppose." 

* The view horn NECs executive zone is 
cloudy indeed. The company anticipated 
that this year would bring an end to the 
recession that has cost it hundreds of mil- 
lions of dollars in losses. But new, amid 
lf.S--Japanese trade tensions, its woes are 


multiplying because of the surge in the 
value of the yen, which increases the prices 
of made-in* Japan products such as NECs 
personal computers and telephone systems 
in relation to those produced in other 
countries. 

The yen's rise “has had an incredible 
impact on the products we export, and it 
has smothered the government’s attempts 
to rejuvenate the economy," said Yoshi- 
hika Suzuki, an NEC senior vice president. 
“We have to make more products where 
labor is cheaper, especially Asian coun- 
tries. But we have lifetime employment in 
Japan. So we face very difficult problems." 

Already, the company has shifted pro- 
duction of relatively unsophisticated items 
such as color televisions to such lower- 
wage countries as Thailand and Malaysia. 
NEC executives are considering overseas 
manufacturing of high-tech products, such 
as liquid crystal display screens, heretofore 
made only in Japan. Some of that work 
could gp to the United States. But the task 


of Doing Business 


is complicated by Japan's traditional ab- 
horrence of layoffs and reluctance to cut 
relations with suppliers. 

The troubles at NEC, Japan's eigbih- 
largest manufacturing company, with mm 
than $30 billion in annual sales, mirror 
those of the nation's industry at large. 

Japanese manufacturers still make 
things better than virtually anyone else. 
But the strong value of the yen has meant 
that many of them are either exporting at a 
loss or straining to remain competitive on 
international markets. 

NEC is renowned for superb product 
quality and engineering. Its Kagoshima 
plant in southern Japan, for example, has 
dazzled the industry with its topKrf-the- 
line color LCD screens used in computers 
and wall-hanging televisions. 

Yet analysis warn that to improve com- 
petitiveness and fully regain its financial 
health, the company will have to go much 
further than it has in reducing its work 
force and switching its purchases of com- 


ponents away From captive suppliers in 
high-cost Japan. 

“NEC has to cut personnel, and it has to 
change its procurement system, from in- 
house to more-open procurement," said 
Shigeru Yoshinaka, an analyst at Barclays 
de Zoete Wedd Securities (Japan) Lid. 

All in good time, retorted Mr. Suzuki, 
who oversees NEC’s restructuring effon. 
The company, he said, has not announced a 
target for work force reduction as other 
Japanese companies have, because of its 
sensitivity to lifetime employment, but it is 
using cosi-cutting methods similar to thri rr, 
Recruiting, for example, has been reduced 
from a 1990 peak or 2,000 new employees a 
year to around 1.200. 

Mr. Suzuki said NEC was shifting to 
cheaper suppliers of products such as com- 
puter “motherboards" in Taiwan, China 
and other low-cost countries. 

NEC is better positioned than many 
Japanese companies to withstand the af- 
fliction of the strong yen. It has reduced 
the percentage of Japanese production that 


it exports from about 35 percent in the 
mid-1980s to less than 20 percent last year. 

NEC has built major plants to make 
computer chips in California. Scotland. 
Ireland and Singapore, expanding produc- 
tion significantly in recent months to 
counter competition frenn South Korea’s 
Samsung Co. and other low-cost Asian 
chip producers. And NEC is in talks with a 
Chinese manufacturer about a plan to 
make computer workstations in Shanghai 

Perhaps the biggest impact of the high 


yen. can be seen in the personal-computer 
business, which used to make a major con- 
tribution to NECs bottom line but now 
provides a much smaller stream of profits. 

The company gained control over more 
than half the Japanese PC market during 
the 1980s, tiring a proprietary technology, 
which prevented other companies’ soft- 
ware from working on NEC machines. But 
during the 1990s Microsoft Corp.'s soft- 
ware proved a powerful system for NEC's 
rivals to rally around. 


OTIC Pacific Plans 
To Add More Assets 


HONGKONG — CITIC Pacif- 
ic Ltd. said Monday it would ex- 
pand the acquisition program that 
helped boost its net income by 82 
penxnt in 1993. 

The company, which has mvest- 
: meats in the aviation, telecommuni- 
cations, motor vehicle, financial ser- 
vices, power and real estate 
industries, said its net profit last 
*yearroseto 1.89 bQfion Hong Kong 
TdoHars ($245 million), or 1.08 dol- 
lars a share, from 1.04 billion dol- 
lars, or 87.4 cents a share, in 1991 
CITIC P acific is owned about 42 
percent by CITIC Hong Kong, the 
local arm of the state-controlled 
China International Trust & In- 
vestment Crap. 

-■'The company plans a final divi- 
dend of 28 cents a share, compared 
with 22 cents a year earlier, raising 
its payout for the year to 38 cents a 
share from 302 cents. 

- Sales rose 38 percent, to 11.54 
bflhon dollars from 8J9 bflHon. 

. -Much of the increase was due to 
the company’s purchase of a 12 
percent stake in Hong Kong Trie- 
communications LtcL, the territo- 
ry’s monopoly supplier of fixed- 
link phone services. 

^ Chairman Larry Yung said the 
company expected an “excellent 


year" in 1994, with increased earn- 
ings and dividends. “Your compa- 
ny has now become a diversified 
group with interests in various im- 
portant sectors of Hong Kong and 
the mainland," he said. “This trend 
will continue and the company in- 
tends to seek further expansion op- 
portunities with a view to increase 
asset and earnings base." 

He also indirectly expressed con- 
fidence that Hong Kong’s contro- 
versial new airport, the cost of which 
Qtina has criticized, would b ccom - 
pleted. Mr. Yung noted that OTIC 
Pacific had purchased a 50 percent 
stake in the Discovery Bay housing 
development on Lantau island this 
month. The airport is near Discov- 
ery Bay, and a container port also is 
expected to be built on Lantau. 

“The acquisition will provide 
your company with a strategic foot- 
hold to participate in the future 
development rtf Lantau Island." 
Mr. Yung said. 

Ci ne has stakes in some of 
Hong Kong 7 s key companies. It con- 
trols 125 percent of Cathay Pacific 
Airways, 46 percent of the regional 
airline Dragcmair and 20 percent of 
Chase Manhattan Corp.’s Hong 
Kong-based credit card concern, 
Manhattan Card Co. (Bloomberg, 
Kmgkt-Ridder, Reuters) 


Hanoi — Market by ’95? 

World Bank Aide Says Its Time Is Near 


Bloomberg Biainea New* 

HANOI — Vietnam, a Communist state that 
only recently has been able to trade with the West, 
could have a securities market by next year, ac- 
cording to a World Bank representative. 

“We believe it is possible to have a market with 
limited operations for debt instruments by Sep- 
tember 1995," E Gayle McGuigan of the Wash- 
ington-based International Finance Crap- said. 

The finance agency, part of the World Bank, 
received a mandate to help the State Bank of 
Vietnam, (he country’s central bank, create a secu- 
rities market. International Finance Carp, has a 
portfolio of about $10 billion and is the largest 
provider of financing to developing countries. 

Immediate plans for Vietnam’s exchanges are 
modest and the hurdles many. Mr. McGuigan said 
a securities market would at first provide a way of 
raising money through debt instruments such as 
negotiable cotifi cates of deposit and eventually 
company braids guaranteed by banks, with slowly 
lengthening maturities. 

The finance agency estimated it would cost more 
than $ I minion to actually form a market, of which 
$400,000 has been raised from a variety of aid 
organizations. The money wfil primarily be for 
training the professionals who will run the market 

“We have tried to provide documents that allow 
the Vietnamese to understand all the and 
complexities of establishing a securities market," 
Mr. McGuigan said. He said his agency would try 
to help Hanoi draft legislation that could be easily 
understood by traders and investors. 


“First comes the development of a conceptual 
legal framework and the legal institutions such as 
the stock exchange itself," Mr. McGuigan said, 
“then educating the people in the basics of securi- 
ties maikets and training the professionals to run 
the system." 

Once a stock market is developed, much of the 
investment capital could come from overseas. An- 
alysts have said that as much as 30 percept of the 
country’s equity may be available to foreigners. 

There is already about $164 milli on sitting in 
four investment funds, two of which are listed on 
the Irish Stock Exchange. 

Vietnam, which has a population of 71 million, 
desperately needs foods to get its economy run- 
ning. Most private companies are unable to bor- 
row from the state- run banks, which kad mostly to 
the state-run companies. 

Architects of the plan also hope creating a stock 
market will help reform the mostly unprofitable 
state enterprises. 

“The securities market will be a catalyst for the 
privatization of many state-owned companies,” Mr. 
McGuigan said. Enterprises such as Vietnam Air. 
Haora Tourism and raro Vietnam will provide the 
core of companies needed for a market, he said. 

Eventually International Finance Crap, hopes 
the general public also will gel involved. Analysts 
estimate there may be considerable hidden wraith 
in the country, as only 10 percent of the population 
uses formal firumdiil systems, according to Viet- 
nam's Central Institute Fra Economic Manage- 
ment. The institute estimates that there may be $2 
billion available for investment 


V :.,i •. 

• i ' ‘ 


Malaysia Says 
Japan Balks in 
Car Project 

Agence Fratce-Prase 

KUALA LUMPUR — Prime 
Minister M ahathir M ohamad as- 
serted Monday that Mitsubishi 
Motors Corp- was too slow in 
transferring technology for Malay- 
sia’s national car mud said be might 
turn elsewhere for help. 

“They have this Japanese philos- 
ophy of doing things step by step 
and to us tins is too slow," Mr. 
Mahathir said. 

Perusahaan Otomobil National 
BbcL, the nine-year-old venture 
that makes Malaysia's Proton car, 
is 17 percent owned by Mitsubishi 
Motors and Mitsubishi Corp. 

Heavy Industries Corp. of Ma- 
laysia is the major «han»h/>IHgr in 
the publicly traded company. 

Mr. Mahathir said Mitsubishi 
was reluctant to allow Malaysians 
to produce the engine and trans- 
mission parts by themselves and 
said Kuala Lumpur could turn to 
European, American and other 
Japanese companies if Mitsubishi 
continued to drag its feet. 

The Proton commands 73 percent 
share of the passenger-car marikei in 
Malaysia. About 20 percent of the 
1 50,000 Proton cars produced yearly 
are exported to Britain. 



[ntanaikmal Herald Tribune 


Sources: Reuters, AFP 


Very briefly: 


• Australia could experience one of the strongest economic growth rates 
outside Aria this year, with annual expansion reaching S percent and 
leading to an interest-rate rise in late 1994, Wesfpac Banking Corp- said 

• Bank of Qrina Group will issue Hong Kong dollar banknotes in May. 
more than three years before the colony’s scheduled return to Chinese 
sovereignty, China News Service said, quoting Xu Wenchuan. assistant 
general manager of the bank’s Hong Kong branch. 

• Playmates Toys Holdings Ltd. said 1993 profit crept upward to 349.8 
milli on Hong Kong dollars ($45 million) from 3485 million dollars in 
1992. The maker of Teenage Mutant Ninja Turtle toys said 1992 profit 
had been restated to reflect the split of its real estate unit from its toy- 
manufacturing operations. 

• China and brad agreed to set up a $13 million joint venture to repair 

aircraft, the China Daily said. The venture, Beijing TIRA Aircraft 
Components Sendees, is due to start operating in October, the official 
newspaper said. burns, aft 


Seeking Cash^ TI Signs Taiwan Pact 


Bloomberg Businas News 

TAIPEI — An alfiaoce between 
Texas Instruments Inc. and the 
Taiwan government may help the 
U.S. semiconductor maker fund a 
$400 miTH on expansion at a joint- 
venture memory chip plant, an offi- 
cial with the venture said Monday. 

Jerry Junkins, chairman of Texas 
Instruments, signed a letter of in- 
tent in Taipei on Monday to form 
an alliance with the Ministry of 
Economic Affairs. The agreement 


may indirectly help Texas Instni-* 
men Is persuade the slate-run Chiao 
Tung Bank to invest in the venture, 
called TI-Acer Inc., said R.T, Lo,a 
vice president of the venture, 

“That’s the indirect impact of 
the agreement." he said. 

TI-Acer, which is 58 percent 
owned by the Taiwan personal 
computer maker Acer Inc. and 26 
percent by Texas Instruments, 
wants to final ize plans before July 
to raise funds for the expansion. 


Hongkong Land Fails to Capitalize 


• Complied bp Ovr Staff From Dispatches 

-HONG- KONG — Hongkong 
L$od .HoljfingsJJd, which owns 
a^Oost of the colony’s top office and 
fretaO buildings, reported Monday a 
slight increase in net profit for 1993 
despite a local property boom. 

Net profit for 1993 edged up to 
$306.5 million from $305 million a 
year earlier, with a 5212 million 
loss from its 25 parent stake in 
British-based Trafalgar House 


More Satellite TV for Asa 

Agcnce Fnmcc-Prase 

HONG KONG — Orina Enter- 
. .. tainmeot Television Broadcast Ltd- 
. a -Hong Kong-based television 
.. broadcaster, said Monday it would 
launch 24-hour Obmese-langnage 
satellite programming in Asia. 
Hongkong Tdecran Lid. will pro- 
• vide the Imk with APSTAR-1, Qri- 
" ha’s first wholly owned commercial 
■" sat ellite, which is expected to be 
; . bunched in midyear by APT Satd- 
‘ liteCo. 


PLCdenting earnings growth. Tra- 
falgar, the construction, engineer- 
. ing. hotel and shipping, company,,, 
took a large writedown against as- ' 
sets late last year. 

Hongkong Land, the real estate 
arm of Jardme Matbeson Holdings 
LtcL, also made a one-time profit of 
$213.2 million on the sale of a new 
office tower in the central business 
district Rectal income actually fefi 
slightly because of the sale of the 
building, edging down to $385.1 
million from 53902 in 1992, said 
Simon Keswick, the chairman of 
Hongkong Land. 

But Mr. Keswick said he expect- 
ed rental income to rise in 1994 
because of increases on renewed 
leases and more expensive new 
leases. The company’s property 
was 99.6 percent occupied ax the 
end of 1993 and rents have been 
poshed up sharply because many 
businesses are positioning them- 
selves in Hong Kong to establish 
links with China. 

“The Hong Kong commercial 
property market remains strong, 


and the group's rental income will 
begin to grow once again in 1994,” 
Mr. Keswick said. - • . . 

Analysts said they expected 
Hongkong Land’s net profit would 
increase 18 percent in 1994 and 
1995 as it takes advantage of the 
real estate boom. 

(Bloomberg, Reuters, AFX) 


Claims and Disputes 
Against the 
United States 
Government 
PACE and ROSE 

ATTOmJCVS AND OOUWSeijORS 
WASHINGTON D.C 
1 202) 779-2002 
PAJWa 
M29.M *1 
L-OS AMGOXS 
12101 277-2900 


CVKRFNCY AND CAPITAL MARKET SERVICES 


m 


Currency Management Corporation Plc 

Winchester Boise, 77 London Wall - London EC2M 5ND 
TeL 073-382 9745 to 071-382 9487 


FOREIGN EXCHANGE 4iOLl» 


24 Hour London Dealing Desk 
Co mp etitive Rates & Daily Fax Sheet 
m Call for further information & brochure = 

Attention Futures Traders 

US$29 OR ImESS ROUND TURN 

• Puc* Oma Ten* Itac WoatDWto* • *5,800 MUnx Mxxo* 
• Dneowrr ratTmon Tudbm - FUt QvaK Scaror Omx 


tn uraoK Hour, 23 Sr S muu C 
1 18 nsOM SS3 18 TBS 123 



Duff Forecasts and Market Myths for 1994 

The US rtoiio! v% so- a'. (OoMo'ion will ccnJinop. geld A most com mod i-'os 
v/on i :.:o Jcpcn i t ccnoov/ 3 i!cck m.oikc-f w.!. : be weak You d d 
r:o: load lie: in f ur.c'Vcnev • 'fie iccnoclaslic l.-v earner.! 

Co .. n t-y I !.s* ‘O- c ic—p «. wc» o«*. <><}• C-cr- A.-r.;yt« UC 
-*. ycol -o-rc- W-9 7:-a /!-«•• o?6l 

!Cr. :n u<;c!-=« ?' 3 *->.**»* VC— 


o UVEDataFsOmawwcSIO/wyO 
EUROPEAN o EOD Data for S 5/Day o 

O 1 30+ Software Applications O 

PRICEBUSTER an signal 

CaB Anytime On London 44 + 71 231 3556 


. F1NTECH ASSET MANAGEMENT LTD. - ■ 
14 High Street, Windsor, England SL4 1LD 

PROFESSIONAL CURRB4CY MANAGSS 
Highly Rated Computer Based Technical Service 

+ Currency Fund Monagwnent (5.FA Members) 

* Corporate Advbary Services *14 Year Audited Track Record 
Caft Donald lewis or Ph#n Jones Teh M4) 753 842022 Fax; [441753833229 


m 


LONDON & GLOBAL 
FOREIGN EXCHANGE PLC 

PREMIER SPECULATION SERVICE 

QUOTE UP TO 100 MILUON USS . _ 

Top floor, Cameo House, 1 1 Bear Sreel, Injdoji WpH ^AS 
TeL (071) 839 6161 Fax: {07fj 839 2414 



s/ Competitive Prices 
>/ Daily Fax Service 

T£l 071-931 9188 FAX 071-931 7114 

SC v ERE G\* i FOREX) LTD 


24hr FOREIGN EXCHANGE 


The reaMime information system 
preferred by Institutions and now 
available to traders at home. Unrivaled aoverage at an unrivaled 
price. Futures • Options • FX • 6»ergy • Commodities • Me**,* 
News • Full Charting & Technical Analysis from our Worldwide 
coverage - available via Sate&te through Europe. 

CaB FukjreSourte TeL: +44 71 -867 8867 Fax; +44 71-8471344 


for further details 
on bow to place your listing contact 
PATRICK FALCONER in London 
TeL- (44) 71 836 48 02 
Fax: (44) 71 240 22$4 

#cralb J 3S£Sribunc 


Rum 


Highlights 1 993 


A Year of Expansion 

■ Profit after taxation +11% 

■ Earnings per ordinary share + 4% 

■ Dividends per ordinary share + 5% 

After a further year of investment in Asia, Australasia and Europe, the Group, including 
associates, now has: 

■ Sales of US$9.6 billion 

■ 2,440 retail outlets 

■ 80,000 employees 

“ With its extensive experience in discount food retailing, the Company is well placed 
to retain its leadership in the markets which it serves. In 1994, Dairy Farm's focus 
will be on the development of its existing businesses and the search for expansion 
opportunities into new markets, particularly in the Asia-Pacific Region 

Simon Keswick, Chairman 
17th March 1994 


R E S U L 



Year ended 31 st December 


1993 

1992 


USSm 

USSm 

Turnover 

4,979.6 

4.738.7 

Operating profit 

162.3 

155.3 

Share of profit of associates 

98.5 

84.2 

Other operating income 

10.0 

6.6 

Profit before Interest 

270.8 

246.1 

Net Interest expense 

(18.5) 

(26.3) 

Profit before taxation 

2523 

219.8 

Taxation 



— Company and subsidiaries 

<29-3) 

(19.9) 

— associates 

(25.2) 

(22.2) 

Profit after taxation 

197.8 

177.7 

minority interests 

(0.3) 

0.1 

Profit after taxation and minority interests 

197.5 

177.8 

Extraordinary items 

- 

126.9 

Profit attributable to Shareholders 

197.5 

304.7 

Preference dividends 

(8-7) 

- 

Profit attributable to ordinary Shareholders 

188J5 

304.7 

Ordinary dividends 

(95.5) 

(89-2) 

Retained profit for the year 

B3J3 

215.5 

Shareholders' funds 

1,001.1 

726.3 


use 

use 

Earnings per ordinary share 

11.28 

10.81 

Dividends per ordinary share 

5.65 

5.38 


Dairy Farm International Holdings Limited 

Incorporated in Bermuda with limited liability 


■ of the Janlna Mathmon Group 


77m final tSvifend of USc4. 10 par or&iary shaie vdB be payable on 8th June 1994, subject to approval at the Annual General Meeting to be held 
on 31st May 1994. to ordinary Shareholders on the register of members at the cbw e* business on 8ttt April 1994, and wBf be available in cash 
with a scrip anemative. The ordfrrary share registers win bs closed from iith to iSthAptf 1994 Inclusive. The onSnaiytBvktendwIBbg available in 
United States DoBars, Australian Dollars, Hong Kong Dollars and Sterling. Ordinary Shareholders on the Jersey branch register win receive 
United States Dotisrs whBe onBnaiy Shareholders on toe Hong Kong branch register will receive Hong Kong DoBars, unless they elect lor one of 
the a/temsffve currencies by notifying the Company's registrars or transfer agents by 20rh May 1994. Ordinary Sharahoktefs whose shares aw 
held through toe Centra! Depository System in Singapore nffl receive Hong Kong DoBars. uni&ss they elect through GDP to racelva United 

States Dollars. 


S'&g.g 3:5-0' M H n -v.er< 












Page 22 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, MARCH 22, 1994 


SPORTS 




1 




Grand Jury Indicts 3 
In Attack on Kerrigan 


Compiled by Our Staff From Dispatches 

PORTLAND, Oregon — The 
three men who have admitted car- 


out the attack on the figure 
’ Nancy Kerrigan were indict- 


skater Nancy Kerrigan were indict- 
ed Monday on racketeering and 
other charges by a grand juiy that 
has been investigating the case for 
more than two months. 

The indictment contends that 
Tonya Harding and her former 
husband, Jeff GiHooly, who have 
pleaded guilty in plea bargains, 
also were involved in the plot to 
injure Kerrigan and knock her out 
of the U.S. figure skating champi- 
onships in January. 

Shawn Eckardt, 26, Harding's 
former bodyguard, and Eckardt's 
associates Shane Stant, 22, and 
Denick Smith, 29, were indicted on 
Oregon slate charges including 
racketeering, assault and conspira- 
cy to commit assault. 

Eckardt faced additional charges 
of conspiracy to binder prosecution 
and hindering prosecution. Smith 
also was charged with conspiracy 
to hinder prosecution. 

One of the charges steins from at 
least one secreLly taped meeting in- 
volving those who participated in 
the conspiracy. 

Norm Frink, Multnomah Coun- 
ty chief deputy district attorney, 
indicated that the three may be 
able to reach a plea agreement to 
avoid a trial. 

“The defense and the state will 


be talking and we’ll proceed from 
there,” he said. 

Among the charges in the indict- 
ment is that Harding and Gillooly, 
who cannot face further prosecu- 
tion because of their plea bargains, 
agreed with the three defendants 
on Dec. 28 “to unlawfully, inten- 
tionally and knowingly cause phys- 
ical injury to Nancy Kerrigan." 

Harding pleaded guilty last week 
to conspiracy to hinder prosecu- 
tion. Gillooly pleaded guilty Feb. i 
to one count of racketeering. 


Handing was placed on three 
years' probation, resigned from the 
U.S. Figure Skating Association, 
was fined 5100,000. will contribute 
550,000 to the Special Olympics 


and agreed to pay 510,000 in prose- 
cution costs. Gillooly is to be sen- 


cution costs. GiHooly is to be sen- 
tenced April 1. 

The indictment issued Monday 
outlines 61 incidents, mainly phone 
rails among the defendants, that 
allegedly constitute “a pattern of 
racketeering activity ” 

Eckardt and Smith were arrested 
Jan. 13. Stant surrendered to au- 
thorities in Arizona the following 
day. AH three initially were charged 
with conspiracy to commit assault 
and were free on bail pending the 
indictment. 

Eckardt, a friend of GiHooly 's 
since childhood, has admitted help- 
ing to plan the attack and contact- 
ing Smith to carry it out 
Stant is Smith's nephew and 


shares his unde’s interest in para- 
military activity. Stant went to 
Massachusetts to carry oat the at- 
tack, but when that plan fell 

through he followed Kerrigan to 
Detroit, where she was preparing 
for the national championships. 

On Jan. 6, Stant struck Kerrigan 
above the right knee with a metal 
police baton, then escaped the are- 
na by butting his head through the 
plexiglass window of a locked door, 
with Kerrigan out of the competi- 
tion because of injury, Harding 
won the U.S. championship. 

Smith was the intermediary who 
funnel ed money from Gillooly and 
Eckardt to Stant and drove the get- 
away car. 

Kerrigan recovered from the in- 
jury and went on to win the stiver 
medal in lbs Winter Olympics last 
month in LzUehammer, Norway. 
Harding finished ei ghth. 

(AP, Renters) 


■ HarHing in Paris Event? 

Harding may make her debut on 
the professional skating circuit at 
the world championships in Paris 
in May, according to the event’s 
organizer, Agence France-Presse 


reported on Monday. 
The event official, 1 


The event official, Philippe An- 
gel, said that Harding's agent had 
contacted him to discuss her partic- 
ipation in the championships May 
17-18. Angel said be would consid- 
er the matter. 



New Unrest Feared 
As Vandals Protest - 
Berlin Soccer Game 


ta 




Reuters But the choice of Berlin’s Olym- 

BERLIN — Berlin soccer offi- stadium, the venue of the 1936- 
dais, whose headquarters were at- Olympic Gama, whid i were u£d; 
tacked on Monday, said they feared by Hi tler as a showcase for his Nazi 
that ft baf f le hfltwpffli hooli gans from theories, was controversial and Has 
four European countries could mar been opposed by leftist groups. , 
a controversial Germany-Eagland A slogan panned on a waU at *e 
friendly match next monih. rederauor^which is known by (Jk 

MHitant opponents of the match. 'mualsDnJ' read: No game pa 
which is to be held on April 20. the Apni 20. We are against the Dp 


rederation, which is known by the 1 
initials DFB, read: “No game on . 


anniversary of Hitler’s birthday, 
smashed windows and threw stink 
bombs into the Berlin soccer feder- 
ation's office during the night. 

The federation's chid, Reiner 
Gentz, said the attack had probably 
come bom leftist groups campaign- 
ing againsUhe match. But he said he 
feared a battle between hooligans 


and Nazis. , ■ 

Gertz said leftist groups planned 
a demonstration against the match 
in Berlin on April 9. ' 

But be said there was do question 
of the game being cancelled or (he 
date being changed. . 

“We are going on wiih.iL We are 
planning the necessary security 

" i .i ' 


from FnglanH, G ermany , France measures,” he said. “Switching the 
and the Netherlands at the g»nw. date would not change anything 
“The damage is in thousands of and would be a chmb down jar 

L..I. i. riemnrracv. The rieht-winam 


marks,” hcsaid. “We have to as- democracy. The right-wingers 
sumc that the attack came from would come anyway.” 


left-wing groups but the police are 
looking into iL” 

“Security officials have indicated 


Federation officials were dot 
unavailable for comment bm have ■ 
said in the past that they were <fe- ' 


to us that hooligans from around termined that the match go ahead 
Europe — England, France and the as pan of the world champions' 


Aim) ShanTL' Reiners 

ONE MORE FOR THE GREAT ONE — Los Angeles’s triumphant Wayne Gretzky, who tied 
one of hockey’s mightiest records, scoring twice in a 6-6 tie with San Jose to equal Gordie 
Howe's National Hockey League mark of 801 career goals. Gretzky’ is to play again Wednesday. 


Dutch — are planning to meet in 
Berlin and take on the right-wing 
extremists around the game,” he 
added. 


preparations for the World C$p ' 
this summer in the United States. 


Berlin's nrihiant leftist groups ate 1 
wdQ-orgamzed and mounted an ag- 


The match was originally moved gressve campaign against the city’s' 
to Berlin from Hamburg because of recent faflsd bid for the 2000 Glym- 


fears of dashes between rightist pks. They say the friendly match 


and leftist extremists. 


would provide a platform for fascists^ j|_ j S { / 1 f 


SIDELINES 

Chisox Demote Jordan to Minors 


SARASOTA Florida (AP) — Michael Jordan was reassigned to the 
Chicago White Sox minor-league camp on Monday and was expected to 
stan in right field for Class A Prince W illiam. 

But Jordan was not assigned to the Gass A team; he will work out with 
the Double A Birmingham team. The White Scot general manager, Ron 
Schueler, said Jordan could play for Triple A Nashville on Wednesday, 
and may switch each day. Jordan, 31, the three-time National Basketball 
Association MVP, was Mar-20 in 13 spring gomes with four walks, two 
RBIs and a sacrifice fly. 

Tve always truly loved the game of baseball," Jordan said of the 
demotion. “I guess in basketball, I had certain expectations that I had to 
live up to. In baseball, I didn't know what expectations to set for myself 
except to enjoy the game.” 


NBA Standings 


EASTERN CONFERENCE 

Atlantic Dtvlilra 


Ex-Bordeaux Owner Gets Jail Term 



W L 

Pet 

OB 

New York 

45 19 

.781 

— 

Orionoo 

39 26 

AM 

Sri 

Miami 

37 27 

J78 

8 

New Jersey 

33 31 

-516 

12 

Boston 

22 42 

J44 

23 

Philadelphia 

21 44 

J23 

24M 

Washington 

19 46 

.292 

26 Vj 


Central Division 



Atlanta 

45 19 

m 

— 

Chicago 

43 22 

M2 

21* 

Cleveland 

36 29 

SS* 

9 lb 

Indiana 

34 29 

540 

iota 

awriotte 

28 35 

.444 

1414 

Milwaukee 

18 46 

-281 

27 

Detroit 

18 47 

.277 

2714 

WESTERN CONFERENCE 



BORDEAUX (AP) — Claude Bez, former owner of the Bordeaux 
soccer team, was sentenced Monday to one year in jail and fined 2 million 
francs ($400,000) for fraud. 

Bez, whose team dominated the French league for much of the 1980s, 
also was ordered to pay Z5 million francs in damages and interest to the 
governing council of Gironde, the district surrounding Bordeaux. Bez 
was accused of fraudulently overbilling local authorities by more than 10 
million francs for the 1987 renovation of facilities at his team's training 
center outside Bordeaux. Defense lawyers indicated they had not yet 
decided whether to appeal. 


MMwMtDMlkH 


For the Record 



W L 

Pet 

GB 

x- Houston 

45 17 

724 

_ 

*-S<xn Antanki 

46 19 

.708 

V4 

Utah 

43 23 

452 

4 

Denver 

32 32 

500 

W 

Minnesota 

18 <7 

xn 

28)4 

Dallas 

8 57 

.121 

38)4 


Pacific Division 



x -Seattle 

47 17 

.734 

— 

Phoenix 

42 22 

456 

5 

Portland 

39 27 

591 

9 

Golden State 

37 27 

578 

10 

l_A. Lakers 

26 37 

413 

2014 

LA- Clippers 

24 39 

581 

22V4 

Sacramento 

23 42 

-354 

2414 

x-d inched playoff spot 




C: Pimm 6-20 2-4 14. Grant 9-20 0-0 ia M; 
Kino 5-B 9-14 19. Riser 9-11 6-6 25. Rebound*— 
OiicoooSi (Plppen 11), Minnesota 43 (Brawn 
9). Assists— CMCMO30 (Mvers, Kerr B>, Min- 
nesota 24 (Smith SI. 

WuAlnston 23 21 31 26- 99 

Denver 26 35 43 21—132 

W: Chapman 15-26 64 39, Butter 3-4 6-12 11 D : 
Abdul-Rouf 10-17 3-3 21 B. WIHtanra 7-9 2-2 16. 
Rebound*— Washington 36 IGwMatta.waitar 
61, Denver SB (a wimoira 91. Wcrah- 

tnaton 12 (Guellotta 4). Denver 25 (Pack 10). 
P ortland 27 27 21 J*— III 

LA. Clippers 31 21 36 26—114 

P: H. Grant 14-20 04) 28. Porter B-18 3-3 21. 
LA.; Wilkins 10-25 64) 26. Spencer 9-14 44 24. 
Harper 7-16 B-11 22. Rebounds— Portland 63 
(a Williams 14 ). Ln Anoelea 55 ( Outlaw, Wll- 
ktas-SooncorB). Assists— Portlmd 24 (Strick- 
land 8), Los Anoelea 25 (Harper 9). 

Orlando 17 26 M 24-91 

LA. Lakers 27 IS 25 27—97 

O; O'Neal 12-195-1029. Hardaway 6-133-5 16, 
LA.: Campbell 9-1 6 2-2 20. Threat! 12-245-530. 
Rebounds— Orlando SB (O'Neal 16). Las Ange- 
les 60 (Campbell 13). Assists— Orlando 26 
(Hardaway 12), Los Angelas 27 (Dlvac 9). 


Edmonton 20 41 12 52 28 269 

x -cl Inched playoff spot 


NHL Standings 


EASTERN CONFERENCE 
Atlantic Division 


Mkhsfel Bentt, who suffered brain injuries in a heavyweight title fight 
on Saturday, was released from a London hospital Monday and an 
associate said he was “feeling fine.” (AP) 


Martin Bnmdle of Britain was confirmed on Monday as the McLaren 
Formula One teammate to Finland’s Mika Hakkinea for the Br azilian 
Grand Prix in Slo Paulo on Sunday. Brundle, 34, was added to the team 
along with Philippe Alliot of France. (Reuters) 


Loren Roberts, capitalizing on faltering stretch runs by Fuzzy ZoeUer 
and Vijay Singh, shot a 5 -under-par 67 to win (he Nestle Invitational, his 
first victory on the U.S. PGA Tour, by a stroke with a 13 -under 273 total 
in Orlando. Florida, on Sunday. (AP) 


The left-hander Frank Tanana, 40, was released Sunday by the Califor- 
nia Angels, the same major-league baseball team with which he started 20 
years ago as a rookie. (AP) 


SUNDAY'S RESULTS 
Atlanta 21 25 2S 28-101 

Boston 22 25 21 18-80 

A : Winn 13-25*9 31. BlOY leek 7-1B 2-2 IS. B: 
Dowlas 6-12 M 11 McDaPM Ml 6-12 It Re- 
bounds— Atlanta 68 (Willis 14), Boston 99 
(Pinckney IS). Assists— Atlanta 28 (Blaylock 
10), Boston 19 (Brawn 6). 

Seattle 33 21 26 »— IJ4 

Cbartofle 41 17 II 39—115 

s: GUI MS 4-6 22, Payton 1MB 6-8 32. C; 
Maumlno MS 24 IB, Boones 10-11 o-l 2ft Re- 
bounds— Seattle 45 (Sdirampf, Kemp nj, 
Charlotte 55 ( Brlckowskl 11 ). Assist*— Seattle 
30 (Kemp 12). Chartatfe 30 (Bowes IS). 
PbllaaetpMa 21 29 38 21— vn 

Milwaukee 19 30 14 30-103 

P: Wealherspoon 1 0-17 M 25, Wool ridge w- 
172-2 22. M: Edwards 1M7 M 23. Murdock 9-16 
M 18. RebMHKl*— Philadelphia 40 (Weattwr- 
snooa Lsdcner 7), Milwaukee 49 (Edwards. 
Norman, Baker, Murdock 7). Ass is ts P hHdel- 
pNo 30 (Barras 9). Milwaukee 31 (Baker 7). 
Chicago 36 M W 33-40 

Minnesota IS 20 21 21-00 


X-N.Y. Rangers 
New Jersey 
Washington 
Florida 
Philadelphia 
N.Y. Islanders 
Tampa Bay 


T PtS OF GA 
6 94 256 200 


41 21 10 92 265 192 
33 31 0 74 231 223 


31 29 11 73 200 197 
31 34 7 69 256 272 


25 38 10 60 194 234 


Montreal 

Pittsburgh 

Boston 

Buffalo 

Quebec 

Hartford 

Ottawa 


NarnNit Division 

38 22 12 88 251 2D4 


38 23 12 80 265 251 
36 24 12 84 246 211 


83 244 193 
65 235 344 
56 196 244 
30 170 345 


x-Toronta 
x -Del roll 
x-Dallas 
Chicago 
SL Louis 
Winnipeg 


Calgary 
Vancouver 
Son Jose 
Anaheim 
Los Angeles 


WESTERN CONFERENCE 
Central DIvtslou 

W L T Pts GF GA 
ta 39 23 II 89 341 209 

It 41 25 5 87 305 239 

I 37 25 10 B4 244 222 

i 35 30 8 78 223 203 

S 34 28 9 77 225 239 

« 21 44 8 50 218 297 

Pacific DIvMan 

36 27 It 83 265 231 
rer 35 34 3 73 244 235 

s 25 33 14 64 204 233 

n 27 40 5 59 198 221 


34 3 73 244 235 

33 14 64 204 233 

40 5 39 198 221 


24 37 11 99 258 278 


SUNDAY'S RESULTS 
Cotgarv 2 3 1-6 

Tor onto 3 1 0—3 

First Period: C-Maclrmts 23 (Flcury, Rob- 
erts); C-Reiawl 34 (Moclimls),- T-Mandw- 
ville 6 (Glimour, Mocaun); T-Andarson 17 
(Blett Andreychuk); (pp). Second Period: c- 
Fleury 32 (Re Iche J, Mocimls); Ipp). T-Ctark 
39 (Glimour. Baretnwsky); C-ReWwl 35 
(Wafe MccinnJs); <pp>. C-Refchef 36 (Fieurv, 
MocInnlsMpp). Third Period: C-Raberts-36 
(Macinrils, Stern); (en>. Shots an gnat: C (on 
Potvlni 6-14-8 — 28. T (on Vernon) 1144-21. 
Washington I 1 1-3. 

Tamna Bay 0 0 »— fl 

First Period: W-MIILer 8 (Cato. Konowil- 
ctakj. second Period: W-Jones 13 (Hunter, 

1 of rate); (ppL Third Period: WKtahonssen 7 
(Hafther.Phronfco); (PPl.ShDtsongiMl.'Wlon 
Puppa) 12-124—32. T Ion BeauprvJ 7-74—21 
Ottawa I 1 0—2 

BoffMo 2 2 2-6 

First Period: O-Huffrrum 4 (Murray); 
(sh)B-Khmylev 23 (Mogllny. Smefrilk); (pel, 
B- H awerHwilc 30 (Mogllny) ; (pp). Second Pe- 
riod: B-Hawerchuk 11 (Mogllny, Khtnylev); 
(pp). OQuInn 3 ( Yashin, Lemur) ; B4mehllk 
14 (Hannon),' (sh). Third Period: B-Khmvlev 

24 (Howerrtwk); (pp). B-Wood 19 (Petrenko. 
SmeMI k ) ; (pp). Sbetson goal : O Ion Hasek) 7- 
3-5-15. B (an Blllingtonl 12-12-11-31 

St. Louis 0 111-4 

aitawo 2 • 1 0-3 

First Period: t. Chicago Cunneyworth n 
(Noonan. Shantz); C-Chellas II (Murphy, 
Roenrck); (pp). secoed Period: 3L-Hu<l 48 
(Shanohe n . Brawn); (np).8L-Brown 13 (Stxei- 
ancsv Ned ved). Third Period: C-CumeYwartti 
12 (NooRSb B. Sutter); SL-Duchesne 9 (Hull, 
Stastny); (pp). overtime: SL-Stosfny2 (Hull). 
Shots so pea): SJ_ (on Balfour) 7-18-10-1—36. C 
(on Josepn) 13444—30. 

Los Angela 2 2 2 0-6 

San Jose 0 4 2 0-6 

First Period: LA. -Donnell vU (Bloke, Con- 
ocher); LAXJratzky 35. Secoed Period: S_l.- 
Dahlen 20 (Ellk, Gaudreau); (pp). SJ .-Ma- 
karov 24 (Larionov, Norton); LJL-Mc5ariey7 
(KurrL Sydor) ; (pp). Sj.-WtiHney 8 (Ellk, 
Foiroon); SJ.-Goudrsou 13 (Ellk, Pederson); 
(pp). L-A-McRbyhoK» I (Canactwr. Bioko). 
Third Period; LA-Oruce 10 (Lang, Corv 
adwr); I5J .-Makarov 25. lSJ.-Foiloon 21 
(Whitney, Baker); iLA.-Gretzkv36(Zhitnlk I 
Kurrl), Shots an goal: LA. (an irbe) 944- 
2—27. SJ. (on Hrvdey) 12-1885 41 
Plilladelpbta I 1 1-3 

Florida 1 2 3-5 

First Period: F- Brown 1 (Lomakin, Ku- 
delskll; P-Brlwromour 34 (Go! lev. Ran- 
berg I; (pa). Second Period: P-BrlmTamour 

25 I Racine, Renberg); (pp). F-Mellanby 27 
(Lowry, Banning): F-Lownr 13 (Mellanby, 
Banning). Third Period: F-Bnraesl8.P-Ron- 


berg 32 (Ractae. Lbxtraa); F-Skrwfland 13 
(Fitzgerald, Hough); ten). Shots on goal: P 
(on Vanblosbrauck) T2-T8-18— *8. P (on Soder- 
Strom) 1144— 3S. 

Pittsburgh 0 1 1—3 

N.Y. Islanders 10 0-1 

First Period: N.Y .-Thomas 36 ITurgoon, 
Kino). Second Period: P-Slovens 37 (Fronds. 
Jogr); (pp).TUrd Ported: P-Mullan 36 ( Joor, 
wraBoen.Sbatsaniioi: P (anHwtaUl 12-10- 
13-31 N.Y. (on Wregget) 1444-21 
Edmonton 0 3 s — s 

Quebec 1 l 1—3 

First Period: O- Kamensky 23 (Finn Sun- 
din). Second Ported: E-MacTavIsh 16 (Buch- 
berger, Kravchuk); E -Grieve 10 (CJaer); Q- 
Kovalenka 15 (Rudnsky, Gusarov); E- 
Kravchuk 10 (Benrwff. McAmmond); (pp). 
Third Period: Q-Kamenskv 24, E-Psarwin 17 
IWtrtnka Kravchuk l ; E -Stapleton 10 
ICiger). Shots on god: E (an ThlDoult, Ckw- 
IlerJ 5-14-9— 28. Q (on Ranfordl 12-16-7-35. 
Vancouver 1 0 0 0-0 

Dallas 10 0 1-1 

First Period: V-Bura 49 (Craven); D-Craig 
ll (Modano). Overtime: D-P. Bratan 11 (N. 
Bralenj. Shots on goal: V (on Moog] 7-10-94 
26. D (on Whitmore) 10-10-10-1—31. 


miltHG 


World Cup 


•• - "i O' Zi :y - y e 


Major League Scores 


PRE-SEASON EXHIBITION GAMES 
Sunday's Results 
New York Mels 7. Los Anoelea 6 
AHonta 6. Kansas City 1 
Cleveland 7. Cincinnati 6 
Chicago White Sox 5, Florida 4 
Philadelphia a Baltimore 6 
Detroit & Pittsburgh 4 
Montreal 9, New York Yankees 5 
Minnesota 11, Boston 7 
St Louis 3. Toronto 1 
Texas 1 Houston 2 

San Franchoo (ss) 4. Chicago Cubs (m> 3 
Colorado (ss) 7, California (ss) 0 
San Diego 5. CaiKomla (ss) 2 
Oakland 4. San Francisco (ss) 3 
Milwaukee 6. Seattle 2 
Colorado (*.) 3, Chicago Cube (ss) 2 


WOMEN'S SLALOM 

Results Sunday from Vail, Colorado: I, 
Vreni Schneider, Switzerland, l minute, 35.71 
nconds; 1 Katta Karen, Slovenia, 137.42; 3, 
Martina ErTLGermanv.'l :3734;4,UrskaHro- 
vct. Slovenia 1 :37J9; 5, Marianne Kloerstoa 
Norway, VJTJM 6, Martina Aceota, Switzer- 
land. 1:38.15; 7, Beatrice Fnilol. Prance, 
l:38Jl; a Pafrleta Chawet, France. 1:3841; 
9. Christiane Abenttnme. Austria 1:3875; ID, 
Christine von GruHUgen, Switartomtl :3B4S. 

11, El(l Eder, Austria 1:38.90; la (tie) Lora 
Maaonl, Italy, and Anita WacMer, Austria 
1:3878; M. Aienko Dovzon, Slovenia l:3Ml ; 
15. naberto Serra Italy. 1 :».u : 16. Kalla Se«- 
zlnger, Germany. 1:41J8; 17, Bltilana Perez, 
Italy, 1:42.15) ia Shannon Nobis, United 
States, 1:4446. Deborah CbnwagnonL Italy; 
Kristina Andarasan, Sweden, and Jeannette 
Korten, Austria, aid not finish Aral run. Ka- 
zuka Ikeda Japan; Christ! Hager, United 
States; and Anna Parislea United States; 
were disqualified In first run. Anmttse Co- 
berger. New ZnolaM, did not start second run. 
GarbrMa Zlnore, Swltzerlona and Laure Pe- 
auegnot. Franca did not finish second run. 

Pinal slalom stood lugs: 1, SchnsMsr, BM 
points; 2. Pemllla Wtaera Sweden, MO; 1 Hro- 
vaf. 386; 4, Erft, 312; 5, Morano Galllzla Italy, 
286; a Kloerstoa 279; 7, van GrawUgen, 245; a 
Chouver, 234:9, Mtaditer.zu; taAndsramvloa 
Final overall st ate Inga: I, ScfmeMerv 1456 
points; a^WIDcra, 1.343.- a Selztager, 1,195; t 
WacMer, 14571 & Ertl, 941; a CompagnanL 
841; 7, Ulrlke Maler, Austria 711; a Perez, 
667; 9, Kloeratad, 570; ia Hrovat. 523. 

MBITS 

Final overall standings; 1, Kietll Andre Ao- 
modt, Norway 14*2; Z Marc Olrardelll, Lux- 
•mbourg,l4a7;3,AlbertaTo(TiiX],ltaly422;4, 
Guenther Mader, Austria 830; X Honors 
Trinki, Austria 701; a Jem E tear Thorsen, Nor- 
way. 657; 7, Lasse Klus, Norwoy,651; a Tommy 
Moe, United States, 650; 9, Atte Skaurdol, Nor- 
way, 641,- 10, Cary Mullaa Oxnda 535. 


and Scott H o ttebera, catcher, to New BrHo^ 
EL Sait Gar Ftanvok) and Joe Carusa pflen* 
era Paul Thautsta. outfielder, ond Mike Twar-" 
dosU, 1st basemat, to ttwir mlnor-lenue 
camp for reassignment. Extended contract M 
Mike OraemmLouNtaMar, tor 2yearamrougii 
1996 season- Signed Jeff Pierce, pitcher. 

CALIFORNIA— Reteand Frank Tanana eng 
Shawn Hll teP» pitchers. Sent Jotei FangU tq6 
Pete JanMkL pMctwn. to mtaor-teasw aev 
(or reensignmenf. Signed Mark Loiter, plkhif.-. 

CHICAGO WHITE SOX — Sent James bis-. 
dwh Robert EMsand Lorry TtiomafcPlfd*r^ 
and Drew Den*n and Brandon Wilson, MNW 
■n, to Nashville, AA. Sent Luis Andular «. 
Brian BooMInger, pitchers, and Gtem Dttar, 
dno, InfMMer. to Bb-m In gh am , si_ Sent Scoff 
Ch ris tman and Brian Kevser, pllrtiers; JiKa 
Vinos and Ctemente Alvarez. oaKSiere; Rav. 
Durham. Inflektor; and Greg Tuobfcoul netted 
to their mbmSeague camp tor reassJonowot 

DETROIT— Released Tam Bolton ant. 
Mark Letter, pitchers. ■ 

TORONTO— Sent Rkk Ha [Weld. ouHMberi 
and Tttsan Brfta, InfteWer, 10 KnoxvMte, Ste- 
Shown Greea outflekter; Howard Bottle,, io- 
Rekter; Aaron Small, pitcher, to Syracuse. IIjI 
and Angel Martlrw. catcher, to DunoOHi 


nn 


NESTLE INVITATIONAL ... . 

LeodlagssaresfromSiaMlay'sflnolraeBtlst " 
ttwdtrs UmtMhn tournometrt , ployed oa W £ -I. 
7,114- ygrd (M00-<neter), par-72 Bay HIM 

Country Club coone bi Ortando, Florida l . ..." 

Loren Roberts, United States 70-78-6867— OT* f 

Fuzzy Zoeller, Unified Stares 72-68-67-49—221! f.-j' 
Nick Price, Zimbabwe 66-7268-7D— 27® f-. 
Vlloy Singh, Fill 68-69-48-71—27" ■ ' 

Larry Mize, United States 68-69-71-69-3277 ’!• • 
Grsg Norman. Australia 68-72-71-67— z» . 
Tom Lehman. United states 72-47-48-’)-^27f ' ' • 
Tom Watson. United States 69-70-47-73-*27j' = 
Andrew Magee; UnlhM Slates 786749-74— 12S7 r. . 
OA Welbrlno, Untied States 71-73-70-47— 3N- . ' 
Bill GtossorV United States 70-72-71 -68-TSf 
Glen Day, United States 7848-72-71-4011 •«: 

■ 1 


-j rr 


LITTON CHAMPIONSHIPS 
In Key Btecmme, Florida 
Men's Singles, Rote 

Pete Sampras (l). United Stales, dot. Andre 
Agassi (24), united States, 5-7, 6-3, 64. 


ITALIAN FIRST DIVISION 
AC Milan Z Intomazkxult l 


BASEBALL 
American League 

BALTIMORE— Sent Rick Krlvda and John 
ODanaghue, Pitchers; Greg Zaun, catcher; 
Jim Wawrvck and Sherman Obonda, outfield- 
ers, to Roc h e s ter, IL Sent Armando Benitez 
and Rick Forney, pitchers; and Alex Ochoa 
outfielder, to Bowie, EL Sent Mel Wearing, 
outfielder, and Cesar Devarez, catcher, to 
their minor-league camp tor reassignment. 
Released Todd Frohwlrth, pitcher. 

BOSTON— Sent Tim Vaneomand, pitcher, 
and Matt Staff* outfielder, to Pawtucket, IL 


FIRST TEST " ■ ; 

India vs. New Zealand, Third Day ■- 
Monday, In Hamllhm, New Zealand 
India 1st Innings: 246 all our 
New Zealand 2d Innings: 39 , : 

SECOND TEST 

Australia n South Africa, Fifth Day * 
Monday, In Cepe Town 
South Africa 2d Innings: 164 1903 overall ■ 
Australia 2d innings: 92-1 (zs .1 oven) 1 . 1 
Austral la wan by nine wfekete; series tledW- 
SECOND TEST n ■ 

England vs. West Indies, Fourth Day 
Sunday, In Georgeto w n, Guyana * 
England 2d Innings: 119-4 a 7 


DENNIS THE MENACE 


PEANUTS 


CALVIN AND HOBBES 



HEY, CHUCK ..J NEED 
j YOUR WELP WITH A 
SCHOOL ASSI6NMENT 


WE HAVE TO INTERVIEW A BARBER? ASK 
A BU5INESSiV\AN..WHAT u HIM IF THAT'S 
POES YOUR PAD DO? . J A BUSINESS.. 


'M ART? WELL, I 
SUESS THAT'LL j 
.BE ALL RIGHT,. / 


IMIS PIECE or Pie IS 
AM FULLS DARN SHALL.' 


LIFE OWID \ UFE COULD 
Bt WORSE, BE A LOT 
CALVIN. J BBTTEJL 
< TOO? 


.. Bur WORSE 
ft WORE 
Ufc&LI. . 





fH- 


*1 . ..^ • 

L- tosh ami* 


-XvMun. 


BLONDIE 




I'M 50 UPSET... ITS J — > 
COSTING ME OVER $1000 
TO SET MY CAR FIXED _> 


ION TOP OF THAT 1 LOST MY 
| WALLET THIS MOWING/— 


I I JUST THOUGHT YOU 

SHOULD KNOW... 


iTMl/HnemmS IN ufe that irritate 

ML HERE COMES ONE NOW. u 


J IM SORRY 7“ 
: t^auTj: ■ggte* 
I TWSMr&Yf 


because my 
affect you, 


WIZARD of ID 


TROUBLES 

TOO 




THAT SCHMNLSD WORD SAME 


4jMWw. Ii no I Hay-e mff ! you raad? 

cn«|M».wfcnn I (wowal, 77 

taporttnen-onie 


MOIFT 






BEETLE BAILEY 





f "AT L©|5T > 

You ccwt have 

TO WOKXA&OW 

wets rouR 

is 

sfowm PROM / 


W3KRIBP A&OUTweRe THIS 
one g/iMg froma! 





* . ^ 






TAYFUL 


MESSTY 


WCN hE LIT 
UPNANO 
SMOKNG AREA* 
LS=T OTHERS 


PIPVOU 
TELL PLATO 
THE NEWS 
IS ON? y 


YEAH. HE'S 
NOT COAMNS 


HE'LL NEVER 
KNOW WHATfc 
GOING ON IN 
THE WORLP 


WHATfe | 
HE j 
poiws? \ 


REAPINS THE 
PAPER 


REX MORGAN 


V c ? ■: 

1 1 -v* r 7 ■ ■ . ■ 


BWiM By (■■ canaan 


fttat anewnr her*.' 


(Amen unarrmi 
JumUK GMQWE WEDOE HOTBED IMMMJ. 
tow IMim Pa Ha tui 11 ew parti — 

THEY -aMBGLEa- 


DOON ESBI.TR y 



--DEXTER'S A 
NATURAL IN 
THE KfTCHEN.O 


4BOUTTH, 

CLASS... 


9 THIS CHEF T7TD MUST S& ; V T ‘ ' 
his» H UA^WORK.TQQ.' i SOME KIND OF 




ll 


To our rcoderi in Hofand 

Ms nevor been easier 
to subscribe and save. 

Jus) ad toUrem 
06022 5 58 


fUdUKftm. BUTTS HB&. 
COOLMGWr&tSM&ZCI 
GUCHBBFOR&A B/GAftTh 
SMOQHOBtU, 
HEARING! 



wemoKAi 
SOI AM, BUT 
lAUMMS 

uxxMreesr! he*, wee 


GARFIELD 


SHINS. 
MR. 3! 


'HERE'S A BALL OF 
.YARN TO PLAY WITH 



JfM VM*<3 Z-32 



ZJ 

1 

P 


, 









r? tFe ^ 

Fr, %t 

'oecerQ^ 


SPORTS 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, MARCH 22, 1994 


Page 23 


Arkansas Rallies Past Georgetown, Duke Stops Michigan St. 


tz efli- 
«we at- 
y feared 

-to fses 

aid car 


.ou:tn c 

. .... I 


iitndu;.. 
W ilizk 
rfefcr- 
$hi. 

Rcetjg; 

robabh 

®pa:cn- 

saiditt 
x»iicarj. 
Fnace 
garae. 
rands oi 
e to a*- 
w frrai 


s:ea:ed 
around 
and ».he 




t-ArtomwCSat 

16. N.C. AST 06-131 
8. tHhtots (17-10) 


4. Oktahorna St. f23- 
UHowMadeaSU 

8 Tton QS-71 


11.mkaMnefcvOO.ltn f - 

3, MBchhan <21-71 

1«. Pappcnttne ri9-inf , L 
7. SL Louts B3-S1 

1g.aerytond{1WlT~ ~} ~ 

Z. Mwoctn ae tta 1774) 
1S.SWEHBMSt(g&61 j- 


Seeood Round 


t- Arkansas. 94-79 I 
8 Geonjatown, 8*-77 j“ 


1994 NCAA Men^s Basketball Tournament 

Reswiab Smflntti Stwnfeab R. 


1. Arkansas, 85-73 (27-3) j 

12, Tuls a, 82-60 (23-7) 1 


<)7>? 

(NCAA: 


, ” 2-102 
8 Ottahoma St, 65-55 


6. Tam. 81*77 
3. McMgm, 70-74 


REUNION ARENA 
DALLAS 
March 25 and 27 


3. Michigan, 84-79 (23-7) 
10 . Maryland, 95-87 (18-11) 


„10- M aryland, 74*6 
2. HasaachuMtta, 7840 


l.Utnouri, 76-53 i 
1 Wisconsin. B0- 72 T 


CHARLOTTE (N.C.) 
COUSEUH 
Apnl 2 


‘flE 

ouxunit 


CHARLOTTE 
(N.C.) 
COLISEUM 
April 4 


Rsgionals 


9. Boston CoB 
5. Indiana, 67-1 


MIAMI ARENA 
March 25 and 27 


Second Round 


1. North CaroHna, 71-Si 
9. Boston College, 67-64 

Me, 75-72 (22-10) 

if (21 -8) 

6. ImSana, 84-72 
4. Temple, BT-M 


Firsl Round 

1- North Carolina 1274 
! 78 Liberty f IB -111 


gjnjgnajaa 
: 12. Ohio <25-71 


Louisville Finishes Off Minnesota 


By William C. Rhoden 

Vrn- York Tima Scntce 

OKLAHOMA CITY - Arkan- 
sas avoided being added to die rash 
of National Collegiate Athletic As- 
sociation upsets in the Midwest Re- 


The Razorbacks trailed early, 


Richardson said before Sunday af- 
ternoon's game. “I love John. I 
think John's one of the greatest 
men I’ve ever met in my life.** 

In the last live months, the two 
coaches haw been outspoken advo- 
cates of issues advanced by the 
Black Coaches Association. Before 


11.P4rauytvank.W40 
8 Florida, 64-62 


3. Florida, 70-58 (27-7) 

2. Connecticut, 75-63 (29-4) 


CHARLOTTE (NX.) 
COLISEUM 
Apffl2 


9. W aco n aln 07-im ) I 

ftr fT* 122 - 71 — , 

18 Wfe--6rcen Bay f2fl-6) r , 

tana-ea, , 1 “*^S£»SS [ 

l3.Hawaflna.Mi — ! 


10. Gm. Waahln) 
2-ConnocflaJI, 


1. Purdue, 96-67 
9- Alabama. 76-70 


1. Purdus, 83-73 (284) 
4- Kansas, 69-58 (27-7) 


«. Syracuse. 92-78 


5. Waka Forest, 68-58 
4. Kansas, 102-73 


5 ' 


meet :r. - 7 ^ 

kt-wmu su.-;- - . !_ !h: 


:ne. re - — . . ■ ^ ! 

.• moved Z’i':.- -I „ '“'da 

cause .:>f rawer*: ■ -f ?' ‘ 5 


... . • • <y 

, ci ‘ ,i; t if- 


11. Southern Bflnaa j 
X LoutsvBa BS41 
18 Boiae Sr. H7-12I 
7. Virginia <17-121 
_10- Naar Itortoo (23-7 
8 Arizona <25-51 


LOS ANGELES SPOUTS ARENA 
Morcfi 24 and 26 

6. Ifinnesota, 74-60 
8 LoutoviBa, 67-56 “ 

3. Loutsvffle, 60-55 (2S-5) 
2- Arizon a, 71-58(27 S) 

7. Virginia. 57-54 

Z Arizona, 81 -K 


THOMPSON- BO LING ARENA 
KNOXVILLE. TENN. 

March 24 and 26 


8 Marquatta, 8149 
8 Kmhicky, B3-70 


6. Marquette. 75-63 (24-8) 
2. Duke, 85-74 (25*5) 


7. Michigan SL, 64-73 
2. Duka, 62-70 


nar-iiit 


i .r ■ fi 


Source: AP 


Tmos io bo announced. 


14 Jam— Hrttmn ffTHl 
_7. UAB 122-71 


1 15.RMerBl.6l 
1. Purdua (26-41 

1 18 Central Florida [21- 
8 ProvManca >2041 
j 9. Alabaman 9-8) 

8 Wafca Formt [20-T1) 

! ILCoLoiChartratton t 
4 Kansas Q5-7) 


1 11. SVELouklana (22-71 

3- KanlucSiv (26-BI 
\ 14. TlBine—aa SL (19-Til 
7. Mkhlqan SL(l9-n) 
|ia Scion HallH 7-12) 

8 Dufce <23-51 

IlS/ftmi Souiham C19-10 


survived a first-half brawl then pot both men hinted that 

the clamps on Georgetown and their might be some type of sym- 
ernised to a 85-73 viciorv in a sec- boiic protest to show opposition to 
ond-round game. & wide-ranging menu of National 

The Hoy as made just 10 of 30 Collegiate Athletic Association leg- 
shots in the second half while Ar- islatton. 
kansas made IS of 22 and ripped Instead of a protest, the players 
Georgetown a pari with an inside staged a turf war, and whatever 


) show opposition to 
i menu of National 
leiic Association leg- 


Georgetown apart with an inode 

attack led by Corliss Williams, 
Dwight Stewart and Darnell Rob- 
inson. Williams scored 21 points, 
Stewart 16 and Robinson 13. 

The top-seeded Razorbacks will 
face No. 12 Tulsa next in Dallas. 
The Golden Hurricanes shot their 
way into the Sweet 16 with an 82-80 
victory over fourth-seeded Oklaho- 
ma State. 

Nolan Richardson, the Ar kansas 
head coach, made his mark at Tulsa 
before going to Arkansas. 


staged a turf war, and 


court, Lbe Hoyas made one last run. 

Harrington made 3 straight fool 
shots and George Butler made a 
basket to cut the lead to 76-65 with 
4:58 left. William* powered in a 
basket for Arkansas, but John Ja- 
ques hut a jumper and Georgetown 
forced a turnover with 3:40 left to 
play. 

The Hoyas failed to score on that 
possession, and Williamson added 
a basket to boost the Arkansas lead 
to 80-67 with 2:43 left. 

With 1:48 left in the game, the 
lead had been cm to 80-71 after 
three trips to the free-ihrow line 




The 1tthhni|Mi Pim 


had been heralded as a dash of 
matching styles and hard-nosed 
players, with two coaches who had 
never faced off before but were 
good friends: John Thompson of 
Georgetown and Richardson. 

“I think Lhe world of John,'’ 


'The Making ofBC’s Legend 
J s the Unmaking of Another 


Jcrsas - 

i-jlb ill’ 

1 re : 

U’VfcC —'V- 
'.’N-I'M 

fr:: 
«■ '.38* 

■ a*: ; 

n"SI : 34 K 

tr 4.1‘- I 
!*• 

«;• =U 

arc. Pm 

I'* -- •»: 

t>~. “!'• 


’•e S-j'n. 

mewm-s 
S ^L.1 *e 

MW 

su: 


S. ft 

-.ca 

4-V ! »-• 
ilM • u. 

'^-•4=. • 
1 

*:«r" 

- J-'T 

n 

M IS- 


By Tony Komhdser 

Washington Post Service 


' - - — ■* TTitsiT... Washington rort bemce 

“’YirASHINGTON — You’ll remember that Boston 
; -*"■ :V« ," r l' ^ * V Collie had a shot at the No. I ieam in the 
. : 7 ;■ ; _ '= ; • ■-*- -nation back in November, too. That was football, of 
'-^Cdtirse. And the No. J was Notre Dame, as 
* ‘ ‘. ' - ';legendary a name as there is in college football BC 
i.-r- i -.won that game — won it dose and won it late. Stunned 
; ■; r.- _rije whole country. 

; - - ■ < ; “jAsyou might ima gin e, BC has a tape nf that game 

V * ::: ' : ~-Sonday morning it was shown to another BC team that 
: =was prqiaiing to 

'■■ ■; : - V M 

; j— in this case. Point 
Y r ....... .'■■■ ' '"Nbrth Carolina, as 

■ -i.rrigcndary a name as there is in college basketboH 

- Showing the tape was Lany Grier’s idea. He’s one 
jT-the BC managers, and he cleared it with Jim 
_ , , . 3’Brien, the coach. About an hour before the team 

to board a bus for the arena, O’Brien played the 
•r .’ j : - :sQptball highlight tape f<n them. Couldn’t lrnrt, right? 

' ; ; . • ’ Y : watched in total silence." O’Brien said. “The 

‘■'i 1' ' : : Y-'-inly ihing J could hear in the room was them breath-' 

- ... Y • . : -jg. I knew it was getting to them emorianalfy; but I 

’• - '^tn’t tell you bow much." 

X few hours later, theBC basketball team won the 
- ; iame — won it dose and won it late. Stunned the 
" " • rvhole countiy. Who holds Donald WBHams to I-for- 

. ._ - - ... - 2? Who starts out hitting 3s and ends up pounding it 

. :.-';;nside(BCscenter, Billy Qniey, had lOof BCslast II 

■ - : . ‘ ! ’j^nts) against Eric Montross, Rasheed Wallace and 

. Cevin Salvadcai? Who gives H Deano the bum’s rush 


four. They went to the NIT in their sophomore and 
junior years, finally making the N CAA this year after 
a 20 - victory season — and even that wasn’t enough for 
some people, because just last week, after BC lost to 
Georgetown by 23 in the opening round of the Big 
East tournament, there was talk that O’Brien was once 
again on shaky ground. 

Curley, Abram, JEisley and Huckaby scored 61 of 
BCs 75 points in the stunner of the tournament so far. 
To put this victory in perspective: Carolina was not 
only the top seed and defending champion, Carolina 
hadn't been out of the tournament before the Sweet 16 
since 1980! Nobody beats Carolina this early. El 
Deano might start smoking a gpin 

“I cannot even put into words how happy I am for 
these players,” O’Brien said. “To have started out the 
way they did, to have'eome from so far back, from 
nowhere really, and to have this happen at the very 
end of their careers, to have this as their legacy.” 

The BC players were grousing good-naturedly that 
nobody had picked them to win; everybody was pec- 
ulating on who Carolina would beat next — Indiana or 
Temple? But O’Brien conceded that if he were a 
spoitswriter, he wouldn’t have picked BC to beat 
Caroihm other. “It’s not so much us, it’s Carolina,” he 
said reverently. 

Now it’s out of the frying pan and into the Bre. 
What kind of reward is it to beat El Deano only to 
draw Bobby Knight? 

We can argue Knight's disposition until Doomsday 
— and by then, believe me, HI be totally in his pocket 
— but we can't argue his basketball values: The man 
teaches im p eccable basketball On offense, the ball 
follows the screens and moves to the open shooter. On 


n-tbe round of 32? A ninth seed? Puh-Ieeze. You’ll anamovre » ineqpcnsaooier. vn 

emember that Tom Coughlin parlayed his victory player sacrfices hunsd^ to telp his 

; Y'5-ntoajob with the NFL JadoonvUle Jaguars. feUows. The only T m Indiana is on the uniform. 


I*-*"* ' 

«. av 

L'f* 

». Alts' 

a> *’*• 


v,i Laughing, O’Brien cut off the obvious question at 
,. is knees. “I’m just happy I have a job at BC beii eve 
■s ne,” he said. 

;=. v Three years ago O’Brien almost didn't have that job. 
-That was when the core of this team — Curley, Gerrod 


But his is a hurting team now. Damon Bailey cannot 
practice. His ribs are so sore they hurt too much to 
shoot Pat Graham has broken his left foot twice in the 
past two years, and though X-rays say it is not broken 
yet again, it hurts him too much to practice. Brian 
Evans is playing with a dislocated right shou l der. 


- Ybram, Howard Eisley and Malcolm Huckaby — Sunday, they lost their top reserve guard, Sherron 

. * g t — — *n i ic i— .1 — n:. c.m V... nr.n _ i * i i*.:. * T L.1J 


Y wre freshmen. They were 1-15 in the Big East You 
; ”i ."XHild hear people muttering for O’Brien’s bead all the 
: vay to Brookline. It was a terrible year for O’Brien. 
* -Ds wife, Christine, died of cancer, leaving behind Tim 
their two teenage daughters. As cheerful a man as 
TBrien normally is, there were no smiles that year. 

— Fommatdy, as it turns out, he stayed at BC, his 
lima mater, and steadily built the team around those 


Wilkerson, to a broken leg. This team is being held 
together with time and gristle. 

And so lire Hoosiers will limp toward Miami to 
meet BC, grateful for the five days of rest. “You’ve just 
got to throw the pain away when it’s time to play,” 
Graham said. “We’re all here out of love fra- the game. 
Coach Knight’s the same as we are. I don’t think 
anyone could make us not play, or him not coach.” 



Georgetown's Robert ChirdiweS grabbed Arkansas’s Qmt McDaniel, prompting a first-half brawl 




Parish and Slumping Celtics Fall Flat Against Surging Hawks 


*. i' - ' v 


i - The Associated /Vest 

1 £ Although he was analyzing the 
jtest embarrassment of the Celt- 
^ as, the words of Robert Parish de- 
Bribed Boston’s lost season. 

I . “It was a fairly small effort we 
Parish said Sunday after the 
lefties were assured of their first 
faring record in 15 seasons. 

-- - Parish, a fixture through the glo- 
. . bus reign of Larry Bird, is at the 

NBA HIGHLIGHTS 

, ow ebb of his 18-year career. He 
' ’ailed to score in Boston’s 101-80 
A oss to surging Atlanta. 

SB ; It was the second straight time be 
pi ;ws scoreless in Boston Garden. 
H s “A llama is one of the top teams 
^~Yin the league and you'd think we’d 

iome out with fire," said Parish, 40. 

we were flat and lethargic. 
.’Kevin Willis wasn’t, nor was he 

^^Wlilis had 31 points and 14 re- 
' - hounds while leading the Hawks to 
' their 10th victory in 13 games. 


Mookie Blaylock added 18 pcants 
and 10 assists, and Stacey Augmoo 
13 points and 11 rebounds. 

Xavier McDaniel had 18 points 
for the Celtics, who have lost four 
straight at home, six m a row and 
19 of 21 overall Ed Pinckney add- 
ed 12 points and 18 rebounds. 

Boston, 22-42 with 18 games re- 
maining, will have a losing season 
for only the fourth tune since 1949- 
50. The last losing season was 1978- 
79, a year before Bird arrived. 

perhaps the most appropriate ex- 
ample of how bad the team has 
become after the retirements of 
Bird and Kevin McHaleis that the 
Celtics have lost nine of their last 
10 games at Boston Garden. They 
were virtually unbeatable at home 
throughout the 1980s. 

SuperSonfcs 124, Hornets 115: 
Gary Payton scored a career-high 
32 points, and Shawn Kemp had a 
triple double for visiting Seattle, 
which drew away with a 17-2 surge 
in the third period. 

Kemp had 15 points, 11 re- 




irmwwnwAi. 


t t 

; I { 


4HT - ; 

■?$? : - 
i * *• 





f *'• ; • 

S 


“X '■ ^ 
• A ~t y 

C-T 


/ C 1 


LIVING JN THE US.? 

NOW PRINTED IN 
NEWARK 
FOR SAME DAY 

DELIVERY IN KEY CITIES 

TO SUBSCRIBE, CALL 

1 - 800-882 2884 

(IN NEW YORK, CALL 212-752-3890) 


bounds and a career-best 12 assists. 
Kendall GDI booed by the fans, 
had 22 points against his former 
team. Sam Peririns added 20 points, 
making four of six 3-pointCTS. 

Bucks 103. 76ers 101: Rookie 
Vin Baker’s slam dunk with 12 sec- 
onds remaining completed a late 
rally, and Milwaukee snapped a 
six-game losing streak. 

Blue Edwards had 23 points and 
Eric Murdock 18 for the Bucks, 
who trailed most of the way. Clar- 
ence Weatberspoon had 25 points 
and Orlando Woobidge 22 for the 
visiting 76ers. 

BuBs 90, TEmberwulves 80: In 

ESCORTS & GUIDES j 


BELGRAVIA 

ORCHIDS 

UNION MBS BCORIAfiBICY 
ClfDfT GMD5 ACCEPTED 

UK 071 589 5237 

FERRARI 

LOMXMESCOKT AGB4CY_ 
MAJ08 OHNT CAKOS ACCEPTS) 

071589 8200 


Minneapolis, Chicago got 18 points 
from Horace Grant and overcame 
poor early shooting to maintain a 
perfect record against Minnesota. 

The Bulls — winning their fifth 
straight game while increasing their 
record against Minnesota to 1 0-0 
since the Timberwolves entered the 
NBA — madejust two of their first 
nine shots to rail behind 14-8. 

Nuggets 132, BuDets 99: Denver 
set a season high for points and 
margin of victory, despite a career- 
high 39 points by Washington's 
Rex Qiapman. 

Washington, on a five-game road 
trip, led briefly 12-7, but despite a 


16-point effort by Chapman, 
trailed 26-23 after the first quarter. 

The Nuggets stretched the lead 
to 104-75 after three quarters. 

Mahmoud Abdul-Rauf led Den- 
ver with 23 points. 

Clippers 114, Trail Blazers 110: 
Dominique Wilkins scored 26 
points and Los Angeles capitalized 
on foul trouble by Gyde Drexler 
and Harvey Grant down the 
stretch. 

Elmore Spencer added 24 points 
and Ron Harper had 22 for the 
Clippers, who dealt the Trail Blaz- 
ers their fifth consecutive road loss. 
At home, the Trail Blazers have 
won 10 straight. 


INTERNATIONAL CLASSIFIED 


(Continued From Page 8) 


TABITHA’S 

LONDON - RABB ESCOKT SOVKE 

071 266 0586 


INTERNATIONAL BOOSTS 

e* ■ — M.mmTJJm IlflULL^L 

Xfitz AVuuud ¥VOnCF*mj& 

Teh 212-765-7196 New Yak, USA 
Major Craft CM & Oteda Accepted 

• PAMS * SOUTH OF RAMCE * 
LONDON * ESCORT 5KV1CE 
TIL LONDON 71 3M 5171 
DALY 


*NEW VIOLET* Eicoif Santa 
ZURICH* PARS 

Credit conh 

IwZmfcirflwToDE 
Other dp & INU +35 2/49 42 97 


SOMSnCATSINn 

MAI£ a KM/UE ESCORT 
(nancy UK 071 5 W 9298 


CHELSEA ESCORT SBIVK3E. 

SI Beoudnap Hoos, landon SWl 
Tat D71-5B4 MT3 btabbbd 18 y tan. 


MSS GBCVA ft PARIS 

Erort Agancy 346 00 89 oa£l flflrti 


LONDON BRAZUIAN Escort 

Sarvicc OPT TLK 5557/91 Opon 7 doyt 


TOKYO — 
•*•••• TOP FOR TOP ■ ■ ■ ■ ■ 

EU/JAPAN Escort £ Guta Agency. 
T&= TOKYO na 3588 - 15W. 

•"PRETTY WOMAN*" 

■ ■ • (9CYA * PAtfi * * * 

' New Esthova Escort Saraca 
• • • ■ ■ oa 321 99 &!***** 


ZUHCH R83NE 
£ Estnrt Sarvica 
ZukhOI / 383 08 55. 


........ TOKYO 

Eicort l Guide Senta, TeMwie Nft 
(03) 3351 - 227B , open nerydoy abb 

_222ft 

• LONDON * W1RNATJONAL * 
BRAZHJAN/CARIBBEAN/HMOPEAN 

BCOinvE “ scon sbwce - 

071 794 9tP7 Credtt mfdi cgagjed 
TOKYO "‘B£X*T5KVKI 
Major owft Ctf ds occeplad. 

Tat 103) 34364jW. 

MUNICH 'WELCOME 
BCOKT £ GUM AG04CY. 

HEAffi C ALLOW -91 23 R 

DISCREET ••"*• 

TOP * QUAU1Y “ BCOET * SBMO 
LONDON - 071-935-4533 


fUNXEURT KOIN DUSSBDORF 
d orecs, Escort Sevice, 7 days 
0fl4732M . 

ZUBCH/BHN/ BASR 
Escort Santa 

Tut 077/6806 60.077/88 06 70 

GENltEMEm NUVdub Moyfar «h 
asri service Barmraat 3 6 ihe Hogue, 
Hatand Tat +31 B7U) 36079% 


ARtSTOCATS BCORT SBW1CE 
3 Shoddw Street, London W1 
Tefc 071-258 0090 



TQQURREADCRS WVEVEY/MQNIItfUXAMA 

Hond-ddivery of lhe IHT 
is now available on day or pwjlication. 

Jusl call toll-free: 155 57 57 


Grant led the Blazers with 28 
paints, one short of his season high. 

Lakers 97, Magic 91: Sedale 
Threat! scored 30 points and Los 
Angeles withstood a late rally by 
visiting Orlando. 

Threat: hit his last basket with 49 
seconds to play, halting a six-point 
Magic spun and giving the Lakers 
a 93-89 lead. 

Vlade Drvac, who was l-for-9 
from the floor, hit a pair of free 
throws with 205 seconds remain- 
ing to give Los Angeles its second 
victory over the Magic this season. 

Shaquifle O’Neal ted 17 of his 29 
points m the second half and added 
16 rebounds. 


•PARIS £ LONDON* 

ELEGANT £ EDUCMED • EXCLUSIVE 
Escort Service lardun {711 394 5145 

MOMBSON CUB - VIENNA ESCORT 
Servxc, i, fechte Wunzsfe 2a 

nrnmtou 

FRANKFURT £ AIRPORT 

EXECUTIVE, ELEGANT & EDUCATED 
Escort Savig 069 '552221. tvaryriov. 

* * * AMSTERDAM 2000 * * * 

Ewort Service 

flawrn 

**■*■ MILAN * ASIA •••■■ 
ESCORT AND TRAVa SERVICE 

CJ 09-3 tiff 73 87 

VIENNA ‘PARIS ‘MILAN 'ZUWCH 
EwacoNoci Inti Escort -I- Travel. 
Service. CJ Vienno + Cl-310 M 19, 

CHAMPAGNE ESCORT SERVICE 
Endoh/Ccriibean. 7 dan 12nr>-12pai 
OBTtfB 7421 or 0831 4(WII3 
*•* CHRISTINE *■• 

New wart leniee n ZUBCH 

let 077/770190 - 7 daw 

CHARtBE BRAINS AND BEAUTY 
LONDON PRIVATE BCORT SSVtCE 
CAU07t.3B5.2831 

* - * HtAMOUtr * * * 

VSdwm Eieert and Guta Service. 
Pfatt eel 7 dnyit 0161/26 32 572 

VBMA*SOBG*ZUKH*PRAHA 

FS®«LY. BEGANT, BXJCATH). 
Supreme Egnrt +43 1 5351138 

FRANKFURT RS BARON 

Escort Service. 

TeE 069-689200 

BBSM BCORT - SERVICE 
For diner, oty Urol £ travel, with 

car. Td/Fn 030^189402 

ITALY • PARK • COTE D'AZUR 
French Bwera Escort Agency ■ 
DUBrtT) 4 39 184 


affection the coaches had for each gained 4 points for Georgetown, 
other was not transferred to the But Arkansas then scored five 
players. unanswered point to secure the vic- 

Wiib 3 minutes 23 seconds left in toiy. 

the first half of a hard-fought, fast- , . . . 

paced battle, Arkansas took a 34- ™ ^ ^soctmed 

33 lead on a 3-point shot by A1 Press n P onett 
Dillard. But after a Georgetown SOUTHEAST 

miss and en s uing battle for the Duke 85, Mklugan State 74: 
loose baU, Robert Church well tied Duke reached the round of 16 be- 
up Clint McDaniel and the two hind All-American Grant Hill's 25 
rambled to the court. points, advancing to the regional 

McDaniel shot an elbow to semifinals for the eighth time in the 
Church well's bead and then threw lanrnne yeare. 
a kick as he got up. . G^kee Parks added 24 pomts 

. . ° . „ , for Duke, which shut out high-scor- 

As the two squaral off, order ^ Shawn Rcspert until early in 
was qrackly restored. But two play- the second half. Respert used a late 
ere — Don Reid from Georgetown flurry to finish with21 
and Scotty Thurston for Arkansas “tfaybe this isn’t the Duke of 
— were ejected for leaving the past years," Michigan Stale coach 
bench. i,,h u H tu». “t» 


Dcncn - Jud Heathcote said. “It is a really 

As for the play. Church well was good Duke team with a great, great 
called for a foul and McDaniel was player." 

hit with a technical Arkansas went Respert, averaging nearly 25 
into halftim e leading by 43-39. points, was held scoreless on just 
The break did little to stem the oae shot in the first half and forced 
flow or aggression or to slow the Into six turnovers. His first basket 
pace. came with 16:49 left and cut the 

The Hoyas tied Arkansas, 43-43, Spartans' defiett to four points, the 
on baskets by Butler and Othefla closest they would come the rest of 
Harrington. But then Arkansas, “ ewa y- 
which had threatened several times WEST 

to go on a tear, outscored George- Louisville 60, Minnesota 55: 


came with 16:49 left and cut the 
Spartans’ deficit to four points, the 
closest they would come the rest of 
the way. 

WEST 

Louisville 60, Minnesota 55: 


town by 14-7 and led, 57-50, after a Dwayne Morton scored 26 points 
tough inside hoop by Corliss Wil- and Louisville won a battle of 3- 


liamwm 

The Hoyas blundered away two 
possessions on turnovers, and 
5 Corey Beck scored for Arkansas to 
stretch the lead to 59-50. 

Williamson made the score 61-50 
with a jumper. Joey Brown kept 
Georgetown in contention with a 
layup, but then Arkansas took off. 
Toe Razorbacks outscored the 
Hoyas, 13-4, and led by 73-56 after 
a pair of foul shots by Beck. He 
later added another free throw and 
Arkansas led, 74-58, with 6:56 left. 

But just as it seemed that 
Georgetown would be run off the 


pointers to finish off Minnesota. 
The teams combined for 19 long- 
range baskets, with Morton nailing 
five of them. He also scored five 
straight points that put the Cardi- 
nals ahead to stay with 1:20 left. 

Morton tied an NCAA regional 
record by shooting a perfect 5 -for - 5 
from 3-point range. 

Morton finished 7-f or-7 from the 
field and did not mias any shot 
until a free throw in the dosing 
seconds. 

Voshon Lenard led sixth-seeded 
Minnesota (21-12) with 20 points, 
including four 3-paintere. 


NEWS EVENTS WHICH COULD AFFECT 

YOURUFE: 



FOLLOW THE WORLD EVERY DAY IN THE IHT 


Subscribe now 7 % 

and save up to J uj w 


off the 


and save up to jl* w cover price 

:• *■ t',i nr • .. w.iHwtti:* *.n 

CALL IS TOLL-FREE 

AUSTRIA: 06608155 LUXEMBOURG: 08002703 

BBGJUM: 0800 17538 SWITZEHAND: 1555757 

FRANCE 05437437 THE NETHBRIANOS: 06 0225158 

GERMANY: 013084S585 UNHH3 KINGDOM: 0600895965 

■ • -• .» s. *:■* p s * ! 

_ ^jOrswidj^rfweojgonfaafojj^ _ ^ m 


Cm*— *& 


IZmonltH 
*■ 2 months 
FREE 


6 nonttH 3 months 
♦ 1 month * 13 FREE 
FREE taaaM 


AusirB 

Be**um 

Denmark 

Ftafcwd 

Franco 

A Sen. 

BA 

Ufcr 

F U 

FF. 

Gh eat arson 

P 

Gnm Dr.l 

Wantf 

RKy 

an 

Lira 

Liumiioura 

temeriands 

Nomny 

LFr. 

FI 

NXr. 

Spain 

- nano Mv. Madnd 

Pom. 

Ptaa. 

Swxhn larmaifl 

SJtr. 

-hanoostwr 

5Xr 

Sntzwtand 

Rutd EurapanCQ 

S.Fr. 

S 

CB M Ablca. tenner 

French tton. Muda East 
Gti Subs. Aaia. Ceram and 

S 

SouUiAnwea 

s 



^ 3,300 1JBO 

7JQ0 4J0C 

1J00 IMP 

= T 1300 TOO 

TJ70 go 

■ ■ ■» *■■ 363 810 

zUg&LZ. 115 SL 

«1JOO 82300 

iai 66 

...g&ssa- jml 

7JOO 4300 

^ 2 £_ 

1300 1350 

awoo 143QQ 

_»a2 w»- 

* 27,500 14J00 

ao •• ■ 1,700 000 

'>*a£ 1300 1300 

[ | V *4 • ■■■_ 335 1C 

2*5 145 


* For nfonnaMii conoerninfl hBKMeOwiy in rnaior Ooniun cum cml na <ra« IHT 
Germany at 01 35-84 BS 85 or tu (Ofifl) 175.413. Undar German reguMons. a 2+ntk 
two period » granad lor a* new omen. • 

Yes, I want to start receiving lhe HT. This is lhe subscription term I prefer 
(check appropriate boxes): 

□ 12 months (364 issues in ail with 52 bonus issues). 
f] 6 months (182 issues in all with 26 bonus issues). 

O 3 months (91 issues in all with 13 bonus issues). 

B My check is enclosed [payable to foe Nemotional Herald Tribune). 
Please charge my. “ Ameriaxi Express “ Diners Club “ VISA 
— MasterCard Z Eurocard Z Access 

Craif card diages wli be made in French Francs at current exchange rules. 

CARD ACG. NO 

EXP DATE ^IGNATU HE 

FOR BUSNESS ORDERS, PLEASE NDKATC YOUR m NUMBS: 

(IHT VAT nun 4 *r. FR 74732021 1201 J 

Z Mr. Z Mb Z Miss FamJY NAME 


FIRST NAME 

PERMANENT ADDRESS: - HOME - BUSNESS. 

CHY/CODE 




Rahim your 

WT ' 1 81 tSM.146 37 06 51 -Tet 31 1^63/93 61 

Tlis ofler a>?sita Atac/i 31, 1994, and is to now subscriber only. 

licntUCSSribune. 




r 


Page 24 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, MARCH 22, 1994 


ART BUCHWALD 


For Tonya, a Hard Sell 



W ASHINGTON — Ii isn't as 
easy to sell Tonya Harding 
commercially as one might think. At 
one time she was hoi on the testimo- 
nial advertising circuit But for some 
reason after she plea-bargained I 
couldn't get any interest in her. 

Apart from the TV miniseries 
and ‘Inside Edition,” the only ones 
to make a firm 
offer for Ton- 
ya's services are 
the Japanese 
wrestling pro- 
moters who feel 
that Tonya is 
made for the 
sport. 1 told 
them I would h 
like to see some 9 /w 
yen before I . . 

closed a Hryi Buchwald 
I called the Mega Billiard Cue 
people and suggested that Tonya 
do commercials for them. I thought 
that she could hold the Mega cue in 
her hand and give it credit for fur- 
thering her career. They didn’t say 
no right away. 

Next I telephoned the Atlas 
Shoelace Company and told them 
they were missing a sure bet if they 
didn't hire Tonya to push their 
"unbreakable” shoelaces. 

I made the pitch, "The opening 
scene of the commerdal would be 
in Norway showing a tearful Tonya 
with her leg up on the judges' table, 
pointing to a broken shoelace. In 
the next scene she would be wear- 
ing your shoelaces and skating 
around happy as a lark. 


Globe Theatre Fond 
Gets a £300,000 Gilt 

Reuters 

LONDON — Plans to rebuild 
W illiam Shakespeare's Globe The- 
atre on the banks of the Thames in 
London got a boost Monday with a 
£300.000 ($450,000) donation. 

The American actor Sam Wana- 
maker, who died in December, had 
campaigned worldwide to raise £8 
million to rebuild the 16tiH*ntuiy 
wooden theater. “It is vital that the 
work started by the late Sam Wana- 
maker is not allowed to flag," said 
Sir Michael Perry, chairman of the 
Shakespeare Globe Trust, who 
made the donation on b ehalf of his 
company, Unilever. About £2 mil- 
lion is still needed. 


“Tonya’s everyone's Tinker beU,” 
I assured him. 

“Or ‘Casey at the Bat,* ” he sug- 
gested. 

□ 

I didn't do too well with Coca- 
Cola, either. I pitched a commer- 
cial with Tonya doing a half-dozen 
lutzes, and then she picks up the ice 
from the rink and puts it in her diet 
drink. 

They didn’t think that Tonya 
could sell much Coke since she fin- 
ished eighth in the Olympics. 

“Whom are you going to hire?" I 
asked the man. 

“Nancy Kerrigan. She has better 

decided that my best chance 
was a sporting goods company like 
Wilson. I phoned and said, “1 can 
get you Tonya Harding at a very 
low price. She could sell tennis 
rackets for you.” 

The gentleman at Wilson lis- 
tened politely and said, “Wasn't 
she given probation for interfering 
in the investigation of an assault on 
a rival skater?” . 

“She's had problems with ice 
skating, but she's absolutely clean 
when it comes to tennis. You better 
sign her up right away before some- 
one like Head does.” 

He declined my offer on the 
grounds that the minute people saw 
Tonya they would think of lacrosse 
rather than tennis. 

□ 

I spoke to McDonald's, and they 
said they already bad Nancy Kerri- 
gan. This time I blew my slack. 

“Why Nancy Kerrigan? Tonya 
has much more feeling for Big 
Macs than Nancy.” 

“Possibly, but Nancy has a big- 
ger name, except with the Portland 
Probation Board.” 

I was stumped. Here 1 had one of 
the greatest skating stars in Ameri- 
ca, and I couldn't sell her to any- 
body. 

My last call was to the milk peo- 
ple. I told them, “If anyone can sell 
milk, it's Tonya.” 

He said “We were thinkin g 
about letting her take a whack at 
the account, but we had a change of 
heart at the last minute." 

“You’ll be soriy,” I warned him. 
“Tonya would make the perfect 
spokesperson for milk. Everyone 
who watches television in America 
still thinks of her as the girl next 
door." 


Stephen Sondheim and the Art of ‘Passion’ 


By Michiko Kakuiani 

,V« York rimes Service 

N EW YORK — “Love without rea- 
son," sings the hero of the new Ste- 
phen Sondheim-James Lapkie musical 
“Love without mercy. / Love without 
pride or shame, / Love so consuming / U 
doesn't have room / For kindness / Or 
manners or caution. /Or blame . . 

“ 'Passion' is about how the force of 
somebody’s feelings for you can crack you 
open,” says Stephen Sondheim, “and how 
it is the life force in a deadened world” 
Earlier Sondheim characters have 
longed for emotional connection, they 
have yearned to I earn “how to let go,” 
lower their guard “relax, let go, let fly,” 
but the sort of fierce, unaccommodated 
embrace of feeling achieved by the charac- 
ters in “Passion” has always tended to be 
elusive in the past. 

In the song “Marry Me a Little" ( 1970), 
the hero proposed a nice, safe little rela- 
tionship: “Love mejust enough. / Cry, but 
not too often. / Play, but not too rough. / 
Keep a tender distance. / So we'll both be 
free. / That's the way it ought to be.” 

In "Finishing the Hat" (1984), the hero 
sang of being unable to break out of the 
cool, perfect world of his painting: 
"... the woman who won't wait for you 
knows / Thai however you live, / There's 
a pan of you always standing by, / Map- 
ping out the sky . . ." 

In contrast, Giorgio, the hero of “Pas- 
sion,” is not only confronted with the 
frightening, engulfing possibility of real 
love, but is also able — after considerable 
conflict and pain — to fully surrender. He 
sings of “A love thai like a knife, / Has cut 
into a life I wanted left alone.” He sings of 
“total surrender and “Love unconcerned / 
With being returned" 

Based on Ettore Scola’s brooding neo- 
romantic movie “Passione d’Amore" ( 1 98 1 J 
(which in turn was based on “Fosca." an 
1869 Italian novel by Iginio Taichelti), 
“Passion” deals, on the surface, with a 
man's relationship with two women. 

The show (which starts previews on 
Thursday at the Plymouth Theatre on 
Broadway and opens on April 28) begins in 
19th-century Milan where Giorgio — a 
handsome young military officer played by 
Jere Shea —is in the midst of a heady affair 
with Clara (Marin Mazzie). Giorgio is soon 
transferred however, to a remote provincial 
outpost where he makes Lhe acquaintance 
of Fosca (Donna Murphy), his command- 
ing officer’s wQlful and sickly cousin who 
becomes obsessed with him 
Through these two women — whom La- 
pine, the show’s librettist and director, sees 
as embodying opposing principles of light 
and dark, order and chaos — Giorgio will 
be forced to explore his own deepest fed- 







ings and fears. The show, as Lapine says, is 
“son of about being naked It reminds you 
of those moments in life, which we've all 
had where we were obsessive or possessive 
or out of control” 

Though Sondheim's work has always 
eschewed the simplistic, PoDyannaish con- 
ceits of the old-fashioned musical-comedy 
romance, the vagaries of passion and com- 
mitment have been favorite subjects 
throughout his long and innovative career. 

Ambivalence, sdf-consdousness, fear 
of caring too much, fear of intimacy and 
hurt, uncertainty and yearning and regret 
— these are the animating emotions of 
songs as varied as “Send In the Gowns” 
and “With So Little to Be Sure Of.” 

Love in “Passion” is “an intoxication,” 
“a great blindness.” “a disease that would 
cripple us all." Love, Giorgio will discover, 
is a rude, cathartic “religion” that possesses 
the power to indelibly shatter or redeem his 
life. He will discover a love “Without cause; 
/ Without sense, / Without laws.” 


When Sondheim first saw the Scola 
movie in 1983, he says he had an immedi- 
ate visceral response^ and instantly seized 
upon the idea of turning it into a musical. 

Initially, the composer and Lapine — bis 
collaborator cm “Sunday in the Park With 
George” (1984) and “Into the Woods” 
(1987) — conceived of pairing “Passion" 
with another one-act show called “Muscle,” 
which dealt with a weight lifter’s efforts to 
create a perfect body. As work on “Passion” 
progressed, however, it evolved into a com- 
plete evening in itself, and plans to do it 
with “Muscle” were shelved 

“There was some personal connection 
dearly,” says Sondheim of his first reac- 
tion to the Scola movie. “I thmk it's about 
a desire to open up, a desire to be like 
Giorgio.” Although Sondheim told Time 
magazine in 1987 that he had never been in 
love, he says his life “has changed a lot” 
recently, “and it's one of the coincidences 
that that happened while I was writing 
'Passion' and vice versa." 


Fred R. Conrad The New 1 art Tin a 

Readying a new musical, Sondheim. 63, says he's “happier than Pve ever been." 


By turns spirited and introspective, so- 
phisticated and ardent, Sondheim’s con- 
versation. like his songs, possesses a verbal 
electricity that anima tes whatever he's dis- 
cussing. whether it's tura-of-the-centuiy 
French music or a new computer game. 
“Ulysses” or “Jaws." 

There is a fierce critical intelligence at 
woik here, but beneath the analytic zeal 
beneath the love of language, there is also 
a boyish enthusiasm and directness. 

At 63, Sondheim says. “I’m happier now 
personally than I have ever been.” “it was 
after a struggle," he says, “and after a lot 
of pain — just the way Giorgio has to 
struggle a long time.” Twenty-five years of 
analysis, he believes, helped lay the 
groundwork for the richness be now feels 
in his life: “It's not entirely luck,” be says. 
“I think you have to be ready for things.” 

Although “Into the Woods” stands alone 
in its explicit manipulation of Freudian and 
Jimgian symbols — the show used a ram- 
bunctious collection of faiiy-tale characters 
lo examine what Bruno Bettelbeun called 
the dark, hidden world of our unconscious 
— self-knowledge and emotional connec- 
tion remain the aims of many Sondheim 
characters, from Fay in “Anyone Can 
Whistle” (1964) to Ben in “Follies” (1971) 
to George in “Sunday in the Park.” 

While the people in “Follies" and “Mer- 
rily We Roll Along” (1981 ) used the past 
to measure their loss of youthful ideals, 
later Sondheim characters have been able 
to accept the past, even Find in it the 
sources of redemption. 

Certainly given the remarkable range of 
material tackled by Sondheim’s shows and 
the fact that he has rarely initiated those 
projects himself, it is smpListic to try to find 
direct autobiographical parallels in his mu- 
se. Perhaps the best analogy to his song- 
writing’s interpretive function comes from 
another theatrical profession: “To write a 
song,” he says, “you have to be the actor ” 

“It’s like Til play Blanche DuBois,” he 
has explained. “You've already thought 
about Blanche DuBois, but 1 have some- 
thing to say about her myself.” 

Like any good playwright, Sondheim 
does not write generic set-pieces, but high- 
ly specific character pieces that delve be- 
neath the surface to ill umina te a specific 
individual's dilemmas, illusions and de- 
sires. At the same time that shows like 
“Company," “Follies” and “Sweeney 
Todd” (1979) were redefining the form of 
musical theater, Sondheim's songs were 
daringly positing the boundaries of Broad- 
way lyric writing, introducing audiences to 
characters as complex, subversive and ner- 
vously modem as anything in the plays of 
Albee or Pinter or Pirandello. 


PEOPLE 

Annual Razzies Salute 

Wont of Bollywood 

Dishonorable mention: “Inde- 
cent Proposal" was chosen the 
worst film and Madonna and Bart 
Reynolds were named the worst 
stars at the 14th annual Golden 
Raspberry Awards. The Razzies, 

“dishonoring the worst achieve- 
ments in film for 1 993,” are a spoof S 
of the Academy Awards, which 
were to take place Monday evening . £ rf 
in Los Angeles. “Indecent Propose ^ { £ 
al” which starred Robert Redfonfe i, * 
and Demi Moore, “hits on all the 
baric Razzie cylinders — big bud- 
get, big stars, big box-office gross- ' 
es, major studio — it was a turkey, 
a truly horrendous film,” said Jobs 
Wilson, a writer of movie traders 
and TV commercials, who orga- 
nizes the Razzies. Any resemblence 
to the Oscars is purely coincidental 

□ • 

BID Watterson, the creator of the 
comic strip “Calvin and Hobbes,” is 
tired of deadline pressure and taking 
the rest of the year off. Universal 
Press Syndicate announced. His 
leave starts April 3. The syndicate 
said that Watterson would spend 
some time painting. 

□ 

Pamela Harriman, the U. S. am- 
bassador to France, is said by The 
Washington Post to be a bit unhap- 
py these days after reading an ad- 
vance copy of a biography of her by \ 

Christopher Ogden, a Tune maga- 
zine correspondent. It's not clear pfj jJ * - v 
what bothers her most, but the title ll 1 * 
alone — “The Life of the Party,” a 
double entendre on her Democratic EVsV??! 

Party activities and active social life ' r \ - » - - 
— could be a troubling omen. I 
□ 

Zsa Zsa Gabor has Bled for per- ; U , ;; ; 
sonal bankruptcy under Chapter ' :- 

•J I, which gives protection from 
creditors. Her attorney said she*. 
needed “a breathing spell to reor- 
ganize her fin an rial affairs.” 

' □ 

The actor Alain Ddon and his 
companion, the former model Ro- 
salie Van Breemen, have a new son, 

Alam-FabieiL The couple also has a ■ 

3-year-old daughter. Anouchka. 

Ddon also has a 29-year-old son, 

Anthony, an actor. 


INTERNATIOIVAL 

CLASSIFIED 

Appears on Pag? 8 


■iftiid 


WEATHER 


CROSSWORD 


Europe 


Alpm 
Amstanfcun 
A r*m 


CcfMitagwi 
CcntH Dal Sol 
DuUn 
Edhfagrgh 


LraPakim 

I nboti 

London 


Si Pctasbug 

9«Mx*ii 

Sbagboug 


Tatar 
Mgh Low 
OF OF 
2068 12/93 
n/9? am 

13/95 3/37 

19/94 9/49 

17«? 9M8 

12/53 3/37 

8/48 3/37 

12/S3 9/46 

7/44 0/32 

8/43 2/3G 

1068 12/53 
13/55 7/44 

12/53 5/41 

18/BI 9MB 
12/53 307 
14/57 400 

■2/29 -8/IB 
13/55 7M4 

22/71 13/96 
19*8 12/53 

isos am 

19/88 7/44 

ism am 

-lOT -0/10 
10/50 400 
iam 9/48 

2/35 -2/29 
15/59 11/52 
14/57 9/40 

7/44 002 

8/43 205 

18*4 8/48 

■1/31 -11/13 
307 -307 

13*6 am 

■2/23 -700 
15/50 B/46 
0/40 205 

307 -ft/IB 
14/57 9/48 


Ton 

W Mgh 
C/F 
pc 22/71 
c 12/53 
f 13/55 

• 1702 

• 21/10 
ah 14/57 
pc 13/55 
pc 16*1 
eh 1102 

■n 9/48 
■ 21/70 
Sh 15*0 
■h 1102 
pc 20*8 
pc 1509 
pc 17*0 
s 104 
pe 13/55 
0 22/71 

pe 2009 
ah 1305 
J 24/75 
PC 21770 
pc -ZQ9 
pc 14*7 
pc 21/70 
an 8/43 
a 19*8 
pc 18*1 
PC (1/52 
f 8/43 
pe 21/70 

a 002 

a 409 

9*1 10*4 

a 002 
pc 17*2 
c (2/53 
a 9/49 
pe 19*5 


Oceania 


Forecast for Wednesday through Friday, as provided by Accu-Weather. 






I lhneaaonetiy 
CcU 


North America 

Spring warmth will surge 
northward from Houston and 
Dates through Chicago and 
Memphis. Mild weather in 
the Northeast win lead to 
rapid snowmelt A late-sea- 
son snowstorm w91 blanket 
the mowtabu from Califor- 
nia to Nevada. A soaking 
rain win occur over coastal 
Cafifomta and Oregon. 

Middle East 


Europe 

High winds and periodic 
rakwwl be the rule (ram Ire- 
land through western Nor- 
way later mis week. Snow 
will tall over the interior of 
northern Scandinavia. Lon- 
don to Parts win have a few 
showers at midweek fol- 
lowed by dry, sightly cooler 
weather. Madrid and Home 
will be Sumy and warm. 




Asia 

Much of China, including 
Bel|lng and Shanghai, will 
have dry, warm weather thte 
weak. Rainy weather at 
Tokyo Wednesday will be 
followed by windy and cooler 
weather later Thursday end 
Friday. Sunny, very warm 
weather will extend from 
Thailand northward to near 
the China border. 


Twtay Tomorrow 

Mgh Low W High Low W 

OF OF OF OF 

Beni 2DAB 12*3 ■ 20*8 12/53 ■ 

Coke 22/71 7/44 ■ 23/73 9/(8 a 

Qamncia 19*1 4/39 s 10*1 8/43 g 

Jctu rc / m t 18*1 7/44 g 16*1 9/48 pe 

Lunor 27/BO 307 s 2862 8/43 i 

Riyadh 27*0 1365 • 27/80 14*7 * 


Latin America 

Today Tomcnow 

High Low W I0gh Low W 
OF Cff OF OF 

BumxMAira* 27*0 17*2 a 31*8 21/70 3 

cams 29*4 23/73 S 29*4 24/75 a 

Um> 29/70 21/70 pc 27*0 21/70 ■ 

MadeoCny 27*0 12/53 pc 27*0 1162 pc 

RkMtaJwimo 35/95 23/73 pc 33/01 24/75 pc 

Sw*gO 31*9 15S0 s 30/96 12*3 > 


Today Tomorrow 

High Low W High Low W 
C/F OF OF OF 


p-,-1 j. , t, 

tsan^QK 

B«^ig 

S3H 

New Dahl 

Seed 

Shanghai 

Singapore 

Tafeel 

Tokyo 


A10W9 18*4 

CepeToMi 28/79 
CBsobtancu 19*8 
Harare 23/73 
Lagos 31/88 

Mam*! asm 

Tim 20*8 


1162 ■ 20*8 14/57 a 
17*2 * 24/75 1368 pe 
1162 b 22/71 11/52 pc 
1162 pc 28*2 1263 pc 
27*0 e 32/89 27*0 pc 
1162 I 28/79 1365 * 
9/49 a 22/71 1467 c 


North America 


Houston 
Log Angola 


ACROSS 

t Caspar or 
Balthazar, e g. 

• Rope material 
10 Chorale pan 
14 Honda erty 
isjai — 

18 La Sc ala 
presentation 
17 NO UNTIDY 
. CLOTHES 
20 Walking on air 
sm Macadam 
Ingredient 

22 Cruces. 

N.M. 


23 Prepared 

24 Harem 

26 Subordinate 
Claus 

29 Apocalypse 

31 Gene material 

32 Seldom seen 
34 -QBVir author 

38 Lump of jelly. 
e.g. 

39 GOVERN. 
CLEVER LAD 

43 “You said itr 

44 Writer Shere 

45 Approve 


21/70 1263 > 21/70 1365 g 
23/73 19*1 I 24/75 19*1 pc 


Legend: s-sumr. pc-psrOy dowry, o-dnxfy. shshoras, Hhundeiaorms, rah, 4-snow Quotas, 
sivsnaw. Wee, w-W*a#iar. Al maps, forecasts and data provided by Accu-Weettw, Inc. « 1W4 


Toronto 

Wastwrgton 


Solution to Puzzle of March 21 


□□hho ebbs naaiD 

□□sna mania nrnns 

□□□□ asas narnaa 
□ns aaaaa 
□aaasa oaaa 
□noon mu [3 bed bob 
DEdHaaQcnnaaciEiBB 
BED QQEHia □□□□□ 
□EBB □BQBEH 
SEE 

HaciEDJ anaa queed 
ESSEDEEBEEBEEQE 
□EBB uuaa Q LIB EE 
BEES BEES QEBBB 


4«W.W. II grp. 

48 Agnppina’s son 
so German 
pronoun 
Si Answer to 
■Whats 
keeping you 7 ’ 
as Mourn near 
ancient Troy 

57 item in a lock 

58 T affliction 
so 1990 Bette 

Midler film 
62 BLATHER SENT 
ON YE 

66 Neighborhood 
«7 Le Mans, e.g. 

68 Conductor 
Georg 

89 Back-to- school 
time: Abbr. 

70 Bouquet 

71 Friend of Henry 
and June 


1 Word on the Ose 

2 Long (far) 

3 Food critic 
Greene 

4 Arm bones 
s Fned lightly 

• Actor Charles of 
"Hill Street 
Blues’ 

7 Overhead trains 


8 Not shiny 

9 A captain of the 
Enterprise 

10 Dance, m France 

11 On (doing 

wen) 

12 1979 treaty 
peninsula 
ia Authority 
is Alternate road 
19 Los Angeles 
suburb 
24 Obviously 
pleased 
28 Big name in 
viniculture 
28 Physics unit 
27 Zhivago's love 

2 a ’It Came 

Outer Space’ 

30 Mezz. 

alternative 
33 'it's true. ‘in 
Torino 

35 French resort 
town 

37 Forest florae . 

39 B'nth 

40 Fingernail 
polish 

41 Realism 

42 Salon selection 
47 Rossini 

character 
49 Potemkin 
mutiny site 


81 Jots 58 Illinois city 

l.|Mlng'.Philor MCmMndra 

-Palana or 


34 Air Force arm; 
Abbr. 


61 Opposing 

83 Dracula. 
sometimes 

64Sgt..eg 
•a Frozen Wasser 



‘ ■SKt 


me of. 


PuzztabyStaptantaSpMtacxM 


C New York Times Edited by Will Shorn. 


U'avd in a world without borders, time zones 

or language barriers. 


| Imagine a world where you can call country to country as easily as you can from home. And 

reach the US. directly from over 1 25 countries. Converse with someone who doesn't speak your 
language, since It’s translated instantly. Call your clients at 3 a.m. knowing they'll get the message in 
y Qur voice at a more polite hour. All this is now possible with AIS3:i 
Vwiwaww «■ To use these services, dial the AT&T Access Number of the country you’re in and you’ll get all the 

help you need. With these Access Numbers and your AIKT Calling Card, international calling has never been easier. 

If you don't have an AT&T Calling Card or you’d like more information on A EST global services, just call us using the 
convenient Access Numbers on your right. 


ATsT 


© 1994 AIKT 


AIKT Access Numbers. 

How to call around the world. 

]. Using the chon below, find the country you are calling from. 

2. Dial the corresponding Aixr Access Number. 

3. An Ana- English-speaking Operator or voice prompt will ask for die phone number you wish io call or connect von in a 
customer service representative. 

To receive your free wraflet card of ABETS Access Number* ius dhl Lhe acress number of 
trie country you’re in and ask Tor Customer Service 

COUNTOY ACCESS NUMBER COUIVIHY ACCESS NUM BER COUNTRY ACCESS NUMBER 

ASIA/PACIFIC I"*”* 1*00^50000 Colombia " 

001*881011 toV m-1011 772 

ChtoaJRC *~ 1Q 8I1 Lfegtocnste ji l* 15500-11 — — 

Guam 018-672 Utfroanta* ■ L . •— UZ 

— — r H Sa lvador** 190 

HongKoqg 800-1111 Luxemhouig 0600-0111 7 - — rz — — — - 

Mala- 0800-890-110= ^ 

Indonesia jjMggMO Mooaco - 19*0011 — 

Japan* 0030-111 Nfrlwilguda* 06-022-9111 ^ 

Korea 95000-162^240 


Australia 
OrinaJPROw 
Guam 

Hnn g Kong 

India* 

Indonesia*' 

Japan* 

Korea 

KorcaAA 

Malaysia* 

New Zealand 
WriHppincg* 

Saggaar 

Sinsapmv 

SnLmka 

Taiwan* 

Thailand* 


0014-881-011 Italy* 


Uwh l p inta lii 1 


1-800-550000 Colombia 
*Z**jg* Costa Rica** 


018-872 Utfroanfa* 
800-1111 Luxemhouiy 
000 -117 Malta* 

■001/-801-10 Monaco* 

0030-111 Netbtebxtais* - 
009-H Norway* 

11* Pobtnd*«** 

8000011 PortagaT 

000-911 !«««■* 

105-11 Raaata-TMnacow) 
235-2872 ; Slovakia 
8000111-111 Spain 

430-130 fl w tefcn * 

0080 - 10288 - 0 ' 8- to c ilaiM t* 
0019-991-1111 UK. 


EUROPE 


Armenia** 
Austr i a "* “ 
Belgium* 
Bulfgria 
Croatia** 
Czech Rep 
Denmark* 
nakUMf 
Prance 
Germany 
Gre e c e * 
' Hungary* ■ 
IcetaixFn 


8*14111 Bahrain 

022803011 Cyprus* 

078-1100 10 land 
OO-IHOO-OOIO Kuwait 
59*38 0011 Lebanon (Beirut) 

00-420-00101 Saudi Arabia 


womi 

£ HSalvad 

^ 



— V+m HOndura 

^ OSmutL 

“Mg*!! 



— 0502*288 

01-8084288 . 

*»»cow) 155-5042 

00-42000101 

~ 900-99004? ^22** 

020-795-811 — 

13300-11 Baham * i 

0300890011 ' gennuribr 
MIDDLE EA^t • BridahVl 

800001 Ca y g an^ 

0H0-90010 t . Grenada* 

177-100-2727 ******* 


Ecuador* 

HSah/ador*a 

■Guatemala* 

Honduia5*a 

MetoiM 9; 

Wcaragw (Managua) 

Panama n 

Peru* ~ ~ 

Suriname 

Uruguay 

Venezuela** 


174 

109 

191 

156 

000410 

80011-120 


8001-0010 TuriaT* 
9800-100-10 

19*0011 Argentina* 

0130-0010 tu-Ht— * 
00800-1311 Bottvta* 
0OA-6OO-Q11H Brazil 
999001 ZhZ 


00800-12277 

AMERICAS 

001-800-200-1111 
555 


iri954ll CARIBBEAN 

133-00-11 B a hanw a 1-800-872-2881 

089-0011 ■ gennudaf 1 -8 00072-2881 

• Brtdfih VX 1-800872-2881 

800001 Cayman Ialands. 1 - 800872-2881 

OTOOgOlO . Gflenada ’ 1-800872-2881 

100-2727 ******* 001-800072-2883 

800-288 frnainr 0-800072-2881 

426-801 W PIti A n d ! 001-800872-2881 

1-800-100 *SL Ktna/Ncvis 1-800-872-2881 

00-12277 AFRICA 

Egypt* (Cairo) 31041200 

aXMlll Gabon* qo^-om 

G a mbi a* nmn 


0800-ini Kenya* 

0008010 Uberibi 
Malawi** 


00*801 

00111 

0600-10 

797-797* 

101-1992 


'AZU: UiBiijiLviIiMwlmbM-lnyntiuigik-^XIKr Voifd Comer* iicnfci- -Mj» iml.- ji^Likl.i,.™., 

|*.nwt<Liiinn> mmnn uiUiqilxrauvii nvHi-iltui ’^icnunvli'K .1W Lavuga' «CWInTnJ1ira.nr%- nr, * W ' 

La »'* : «T" 1 ^' | rtui , 'rT<1^' p/lnn tnUT7>!ita»«iniiiwf IViLuvau*!', —W* . 

®.T World CooBta- -« tv» v •* ai-jlU/*- ir.m hhI um*k- in hnU jtain- •%,. ■** W»T«.-ig iW iln- t3 u Uuraifc-n 

■ World Connect- V1W,,- p**. 3PP *,, .S™ 1 ? 

* A- 

IHJAc {4*inGMVMulit , (lq*tai«4ciilri«|ibm-t*jiulU<tiJUIbm AAUmpMh 

**Pulta «>r> oi^uln.' iki«nl| 1 V 11 4n •« urJ kcilbl n<n< lUullMH^ill! ***»1imcs*WBlnHh f y n *"’-* k,,,,llJ '>>v |B| '». , J , » | lH , n'vk 1 l 
mini BU|.c-W^vr* hold. ■ r«f WWM CTOHlKf- 1 


Inmi nu^irVjnM holcL. 


.tlkvtwnwcuilifl ciUnimh