Bond-issue values are up. M&A and equities are down.

Data for January 1 - March 23, 2000 vs. January 1 - March 23, 2001

---------------------M&A*----------------------- YEAR NO. OF VALUE DEALS BILLIONS

2000 4,388 $394 2001 3,154 215

* Involving European targets or acquirers

Data: Thomson Financial

----------EUROPEAN EQUITIES ISSUES-------------- YEAR NO. OF VALUE DEALS BILLIONS

2000 152 $27.9 2001 58 13.7

Data: Capital DATA

---------------EUROPEAN DEBT ISSUES-------------- YEAR NO. OF VALUE DEALS BILLIONS

2000 822 $203 2001 734 232

Data: Capital DATA

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