LTP Trade Finance IndexÖû September 2003 Update

The LTP Trade Finance Index™ rose 0.40% during the month of September, the second highest monthly return so far this year, and one fueled by a fall in one year LIBOR rates of 0.13%. The following table breaks down the performance for the Index between capital appreciation and interest accrual (note that because of compounding effects, the constituents may not sum to the total):