The unrealized losses noted above are considered to be temporary impairments.

Therefore, all unrealized losses are considered other-than-temporary impairments.

Any identified unrealized losses were deemed to be temporary.

As a result, all unrealized losses are considered temporary.

Marginal note:Special reserve fund — unrealized valuation losses

The Company considers these unrealized losses to be temporary.

Such securities have unrealized losses of 22.8 million.

Unrealized losses/(gains) on financial instruments 43 (18 ) 52 (25 )

Plus: Unrealized loss on investments 174 665 247 177

This method only recognizes unrealized losses and never recognizes unrealized gains.

At April 30, 1997, the unrealized loss totaled $0.6 million.

EEP – changes in unrealized derivative fair value loss – 1

At April 30,1997, the unrealized loss totaled $1.8 million.

Noverco – changes in unrealized derivative fair value loss1 2 – 1 –

Other – changes in unrealized derivative fair value loss (1 ) – (61 ) –