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Business Editors

LONDON----Fitch Ratings, the
international rating agency, says the credit risk in the iTraxx Europe
Series 3 credit default swap (CDS) index is stable, following the
recent rollover from Series 2. However, there has been a marginal
increase of the 'AA+', 'A+' , and 'BBB+' concentrations.6%), and telecommunications (9.fitchcdx.doi.
"McGraw-Hill's latest use of DOIs is one of the first that combines a
pay-per-view business model and a subscription-based one," said Hugh
Brownstone, CEO of Content Directions.

About McGraw-Hill Professional
McGraw-Hill Professional is a leading provider of print and electronic
materials for the professional markets, including business, computing,
science, technical and medical titles.

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Additionally, the number of
credits on Fitch Rating Watch Negative has increased to four from one.
DEL is a new service providing premier engineering information on the
Internet, delivering over 4,000 articles derived from 150+ outstanding
McGraw-Hill engineering titles.CH07)

"We are proud to offer the first engineering resource on the Web to be
enhanced with CDI's DOI standard," said Scott Grillo , vice president/director
of Digital Product Development, McGraw-Hill Professional.

slovenije vodnik


DJ iTraxx Europe quarterly credit assessment is available
exclusively on Fitch's credit derivatives website at
www .org/10.org/10.

informacijski izobra


Consisting of 125 reference entities, the iTraxx Europe Series 3
index allows investors to gain credit exposure to the 125 most liquid
investment-grade, European CDS.
There have been 11 reference entity deletions and 11 additions
made to reflect recent dealer liquidity polls. "For subscribers, we anticipate that
DOIs' enhanced discoverability and improved user experience will lead to
greater use and higher renewal rates, especially among libraries and other
institutional users.

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The new roll was effective on March 2005, with three-, five-,
seven-, and 10-year maturities . The
credit risk of the iTraxx Europe Series 3 index is broadly similar to
that of the Series 2 index, as the weighted average rating of 'A-'(A
minus)/'BBB+' has been maintained.CH15)
* "VoIP and SS7" (http://dx.
It is the industry leader in Digital Object Identifier (DOI) technology , the
next generation in Web navigation developed by the primary inventor of the
Internet, Dr.
doi.

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The list of excluded
and included reference entities is as follows:

Exclusions

Abbey National plc; Assicurazioni Generali -- Societa per Azioni;
Credit Suisse Group; Hanson plc; Henkel Kommanditgesellschaft auf
Aktien; Investor Aktiebolag; J Sainsbury plc; Linde
Aktiengesellschaft; Pearson plc; Six Continents plc, and TeliaSonera
Aktiebolag.


It's McGraw-Hill
Professional 's Digital Engineering Library (DEL), which is built with a search
capability powered by Content Directions , Inc. Rather than merely directing users to a publication index, DOI's
take the user directly to the desired object and anything related to it,
including the various options to acquire content (pay-per-view purchase,
subscription, etc.1036/0071406344.com and click any of
the "Subjects" listed at the left, then mouse over "See the DOI for more info"
under each book.

prireditve narodna

com. "McGraw-Hill's
content , combined with this technology, gives engineering professionals
exactly the information they want , when they want it." McGraw-Hill was one of
the first publishers to take advantage of DOI technology and apply it to
materials in both print and electronic formats.

prireditve izobra

8%), utilities
(13.;
Carlton Communications Limited; Glencore International AG; Group
Danone; Rentokil Initial plc; Sanpaolo IMI plc; Standard Chartered
Bank; ThyssenKrupp AG, and Vivendi Universal. (CDI)
CDI helps companies increase their sales and profitability on the Web by
improving the discoverability of their products , increasing their utilization
by customers, and quickly creating new and recombinant information products.

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vodni elektrika

This is very similar to the Series 2 top
three industry concentrations of: banking + finance (20. This online reference is uniquely structured
around 12 major areas of engineering and more than 500 topics. It is a unit of The McGraw-Hill
Companies (NYSE: MHP), a global information services provider meeting
worldwide needs in the financial services, education and business information
markets through leading brands such as Standard + Poor's and BusinessWeek.
Founded in 1888, the Corporation has more than 280 offices in 37 countries.

slovensko informacijski


There is now one reference entity on the portfolio that is rated
non-IG by Fitch, Allied Domecq plc, compared to none in Series 2.

To view a live example, go to the DOI for:

* "Geotechnical Engineering" (http://dx.doi.

informacijski tehni

This is the conclusion made in Fitch's
analysis, using the latest version of Vector V2.2 (released on April
15, 2005 ) of the iTraxx Europe Series 3, published today.
The top three industry concentrations in the iTraxx Europe Series
3 index are: banking + finance (20%), utilities (13.6%). (CDI), the leading commercial
digital object identifier (DOI) Registration Agency.mcgraw-hill.

prireditve strani

Fitch: Credit Risk Stable in iTraxx Europe Series 3 CDS Index

6%), and
telecommunications (8.
FitchCDx.org/10.

brezpla vodni

A.).

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com users can access the iTraxx Europe analytics under
'Index Analytics' on the Fitch Ratings web site at fitchcdx .mheducation.

trst slovensko

8%). Robert Kahn, recent recipient of the Turing Award in recognition
of having pioneered the Internet.

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Fitch has
provided credit assessments for each of the index maturities.com

FitchCDx . Every content
item in DEL has been assigned a DOI, which functions as a kind of "super URL"
or web address, providing users with pinpoint access to the exact information
they need.3 billion.

trst narodna

FitchCDx gives users unique access to a
combination of market information and fundamental analysis.doi.org /10.

informacijski brezpla

Content made available either by subscription or pay-per-view

NEW YORK, In the engineering field
where precision is critical, professionals now have one of the most precise
and effective online reference tools available to them.CH07)
* "Elastic Stability" (http://dx.

slovensko vodni

The maturities of three and seven
years were released for the first time on the Series 3.1036/0071449566 .contentdirections.1220/pr36)


trst slovenije

com

About FitchCDx.

McGraw-Hill's New Digital Engineering Library Offers Pinpoint Access to Information with 'Super' URLs


Sales in 2004 were $5.

tehni ribolov

com/

About Content Directions, Inc.

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"
To see examples of how DOIs are used in other McGraw-Hill products, visit
the McGraw-Hill Book Catalog at http://books. Additional information is available at
http://www. Additional information on the DOI and on
CDI's products and services can be found at http://www.com.

For more information click the DOI for this press release
(http://dx .

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Inclusions

Aktiebolaget Electrolux; Altadis, SA; Banco Espirito Santo, S.com is an integrated web-platform providing
market-oriented, advanced analysis and data for the credit derivatives
market -- consolidating all of Fitch Ratings' analysis and research on
credit derivatives.1036/0071456325 .

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