<SUBMISSION>
<ACCESSION-NUMBER>0001193125-03-053187
<TYPE>POS AM
<PUBLIC-DOCUMENT-COUNT>4
<FILING-DATE>20030924
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>ACCENTURE LTD
<CIK>0001134538
<ASSIGNED-SIC>7389
<IRS-NUMBER>000000000
<FISCAL-YEAR-END>0831
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>POS AM
<ACT>33
<FILE-NUMBER>333-104628
<FILM-NUMBER>03906952
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>CEDAR HOUSE, 41 CEDAR AVE.
<CITY>HAMILTON
<STATE>A1
<ZIP>00000
</BUSINESS-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>POS AM
<SEQUENCE>1
<FILENAME>dposam.htm
<DESCRIPTION>POST EFFECTIVE AMENDMENT NO 1 TO FORM S-3
<TEXT>
<HTML><HEAD>
<TITLE>Post Effective Amendment No 1 to Form S-3</TITLE>
</HEAD>
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  <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>As filed with the Securities and Exchange Commission on&nbsp;September 24, 2003 </B></FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman" SIZE="1"><B>Registration No. 333-104628 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P><HR SIZE="3" NOSHADE
COLOR="#000000" ALIGN="left"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="5">SECURITIES AND EXCHANGE COMMISSION </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="2"><B>Washington, D.C. 20549 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><HR WIDTH="19%" SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P>  <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="5">POST-EFFECTIVE </FONT></P>   <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="5">AMENDMENT NO. 1 </FONT></P>  <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="4">TO
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="5">FORM S-3 </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><I>REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 </I></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><HR
WIDTH="19%" SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD VALIGN="bottom" ALIGN="center" WIDTH="22%"><FONT FACE="Times New Roman" SIZE="2"><B>Bermuda</B></FONT></TD>
<TD VALIGN="bottom" WIDTH="5%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" WIDTH="43%"><FONT FACE="Times New Roman" SIZE="5">ACCENTURE&nbsp;LTD</FONT></TD>
<TD VALIGN="bottom" WIDTH="13%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" WIDTH="12%"><FONT FACE="Times New Roman" SIZE="2"><B>98-0341111</B></FONT></TD>
<TD VALIGN="bottom" WIDTH="5%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" ALIGN="center" WIDTH="22%"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>(State&nbsp;or&nbsp;Other&nbsp;Jurisdiction&nbsp;of</B></FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>Incorporation&nbsp;or&nbsp;Organization)</B></FONT></P></TD>
<TD VALIGN="bottom" WIDTH="5%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" WIDTH="43%"><FONT FACE="Times New Roman" SIZE="1"><B>(Exact name of Registrant as specified in its charter)</B></FONT></TD>
<TD VALIGN="bottom" WIDTH="13%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" WIDTH="12%"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>(I.R.S.&nbsp;Employer</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="1"><B>Identification&nbsp;No.)</B></FONT></P></TD>
<TD VALIGN="bottom" WIDTH="5%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Cedar House
</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>41 Cedar Avenue </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman"
SIZE="2"><B>Hamilton HM12, Bermuda </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>(441) 296-8262 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="1"><B>(Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrant&#146;s Principal Executive Offices) </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P><HR WIDTH="19%" SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman"
SIZE="2"><B>Douglas G. Scrivner </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Accenture Ltd </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="2"><B>1661 Page Mill Road </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Palo Alto, CA 94304 </B></FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>(650) 213-2000 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>(Name and Address,
Including Zip Code, and Telephone Number, Including Area Code, of Agent for Service) </B><I> </I></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><HR WIDTH="19%" SIZE="1" NOSHADE COLOR="#000000"> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B><I>Copies to: </I></B></FONT></P>
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<TD VALIGN="top" ALIGN="center" WIDTH="100%"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>John B. Tehan</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="2"><B>Alan D. Schnitzer</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Simpson Thacher &amp; Bartlett LLP</B></FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>425 Lexington Avenue</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>New York, NY
10017</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Telephone: (212) 455-2000</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman"
SIZE="2"><B>Facsimile: (212) 455-2502</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><HR WIDTH="19%" SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:3%"><FONT FACE="Times New Roman" SIZE="1"><B>Approximate date of commencement of proposed sale to the public:</B>&nbsp;&nbsp;&nbsp;&nbsp;From time to time after the
effective date of this registration statement. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:3%"><FONT FACE="Times New Roman" SIZE="1">If the only securities being registered on this form are being offered pursuant to dividend
or interest reinvestment plans, please check the following box. </FONT><FONT FACE="WINGDINGS" SIZE="1" COLOR="#000000">&#168;</FONT><FONT FACE="Times New Roman" SIZE="1"> </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:3%"><FONT
FACE="Times New Roman" SIZE="1">If any of the securities being registered on this form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, other than securities offered only in connection with
dividend or interest reinvestment plans, check the following box. <FONT FACE="WINGDINGS">&#120;</FONT>&nbsp; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:3%"><FONT FACE="Times New Roman" SIZE="1">If this form is filed to
register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same
offering. </FONT><FONT FACE="WINGDINGS" SIZE="1" COLOR="#000000">&#168;</FONT><FONT FACE="Times New Roman" SIZE="1"> </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:3%"><FONT FACE="Times New Roman" SIZE="1">If this form is a
post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. </FONT><FONT
FACE="WINGDINGS" SIZE="1" COLOR="#000000">&#168;</FONT><FONT FACE="Times New Roman" SIZE="1"> </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:3%"><FONT FACE="Times New Roman" SIZE="1">If delivery of the prospectus is expected to
be made pursuant to Rule 434, please check the following box. </FONT><FONT FACE="WINGDINGS" SIZE="1" COLOR="#000000">&#168;</FONT><FONT FACE="Times New Roman" SIZE="1"> </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT
SIZE="1">&nbsp;</FONT></P>  <HR SIZE="3" NOSHADE COLOR="#000000" ALIGN="left">

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<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>EXPLANATORY NOTE: </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">This Post-Effective Amendment No. 1 to the Registration Statement on Form S-3 (File No. 333-104628) of Accenture Ltd is
filed pursuant to Rule 462(d) under the Securities Act solely to add exhibits to the Registration Statement. </FONT></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>PART II </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>INFORMATION NOT REQUIRED IN PROSPECTUS </B></FONT></P>   <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>Item 16.&nbsp;&nbsp;&nbsp;&nbsp;</B><B><I>Exhibits.</I></B><B> </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">The following is a complete list of exhibits filed as part of this Registration Statement, which are incorporated herein: </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD VALIGN="bottom" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>Exhibit<BR>No.</B></FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"></TD>
<TD VALIGN="bottom" WIDTH="4%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="89%" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>Description</B></FONT></P><HR WIDTH="61" SIZE="1" NOSHADE COLOR="#000000"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="7%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">&nbsp;&nbsp;1.1*</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="4%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="89%"><FONT FACE="Times New Roman" SIZE="2">Form of Underwriting Agreement.</FONT></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="7%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">&nbsp;&nbsp;1.2</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="4%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="89%"><FONT FACE="Times New Roman" SIZE="2">Underwriting Agreement, dated September 23, 2003, among Accenture Ltd, Accenture SCA, the Underwriters named in Schedule I thereto and the Selling Shareholders named in Schedule
II thereto.</FONT></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="7%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">&nbsp;&nbsp;4.1&nbsp;&nbsp;</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="4%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="89%"><FONT FACE="Times New Roman" SIZE="2">Form of Specimen Certificate for Registrant&#146;s Class A common shares (incorporated by reference to Exhibit 4.1 to the Registrant&#146;s Registration Statement on Form S-1/A
filed on June 9, 2001).</FONT></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="7%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">&nbsp;&nbsp;5.1**</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="4%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="89%"><FONT FACE="Times New Roman" SIZE="2">Opinion of Appleby Spurling &amp; Kempe.</FONT></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="7%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">&nbsp;&nbsp;5.2</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="4%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="89%"><FONT FACE="Times New Roman" SIZE="2">Opinion of Appleby Spurling &amp; Kempe, dated September 23, 2003.</FONT></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="7%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">23.1**</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="4%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="89%"><FONT FACE="Times New Roman" SIZE="2">Consent of KPMG LLP.</FONT></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="7%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">23.2**&nbsp;&nbsp;</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="4%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="89%"><FONT FACE="Times New Roman" SIZE="2">Consent of PricewaterhouseCoopers LLP.</FONT></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="7%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">23.3**</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="4%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="89%"><FONT FACE="Times New Roman" SIZE="2">Consent of Appleby Spurling &amp; Kempe (included in Exhibit 5.1).</FONT></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="7%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">23.4</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="4%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="89%"><FONT FACE="Times New Roman" SIZE="2">Consent of Appleby Spurling &amp; Kempe (included in Exhibit 5.2).</FONT></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="7%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">24.1**</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="4%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="89%"><FONT FACE="Times New Roman" SIZE="2">Power of Attorney.</FONT></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="7%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">99.1**</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="4%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="89%"><FONT FACE="Times New Roman" SIZE="2">Selling Shareholders.</FONT></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="7%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">99.2</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="4%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="89%"><FONT FACE="Times New Roman" SIZE="2">Selling Shareholders (September 23, 2003).</FONT></TD></TR>
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<TD VALIGN="top" WIDTH="2%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">&nbsp;*</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="96%"><FONT FACE="Times New Roman" SIZE="2">To be filed by amendment or by a Current Report on Form 8-K pursuant to Item 601(b) of Regulation S-K if the securities are sold through one or more underwriters.</FONT></TD></TR>

<TR>
<TD VALIGN="top" WIDTH="2%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">**</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="96%"><FONT FACE="Times New Roman" SIZE="2">Previously filed.</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">II-1 </FONT></P>


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   <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>SIGNATURES </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P>  <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant certifies that it has reasonable
grounds to believe that it meets all of the requirements for filing on Form S-3 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Palo Alto, California on September 23, 2003.
</FONT></P>  <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3" WIDTH="90%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">A<SMALL>CCENTURE</SMALL> L<SMALL>TD</SMALL></FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="8%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" WIDTH="90%"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">&nbsp;&nbsp;/<SMALL>S</SMALL>/&nbsp;&nbsp;&nbsp;&nbsp;D<SMALL>OUGLAS</SMALL> G.
S<SMALL>CRIVNER</SMALL></FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"></TD></TR>
<TR>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="90%"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="1">Name: Douglas G. Scrivner</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="1">Title: General
Counsel and Secretary</FONT></P></TD></TR>
</TABLE></DIV> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">Pursuant to the
requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the date indicated. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>

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<TD VALIGN="bottom" WIDTH="42%" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>Signature</B></FONT></P><HR WIDTH="54" SIZE="1" NOSHADE COLOR="#000000"></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="33%" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>Title</B></FONT></P><HR WIDTH="25" SIZE="1" NOSHADE COLOR="#000000"></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="21%" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>Date</B></FONT></P><HR WIDTH="26" SIZE="1" NOSHADE COLOR="#000000"></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="42%"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">/*/</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="1"><B>Joe W. Forehand</B></FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" WIDTH="33%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Chief Executive Officer and Chairman of the Board (principal executive officer)</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" WIDTH="21%"><FONT FACE="Times New Roman" SIZE="2">September&nbsp;23,&nbsp;2003</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="42%"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">/*/</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="1"><B>Stephan A. James</B></FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" WIDTH="33%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Director</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" WIDTH="21%"><FONT FACE="Times New Roman" SIZE="2">September&nbsp;23,&nbsp;2003</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="42%"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">/*/</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="1"><B>Steven A. Ballmer</B></FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" WIDTH="33%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Director</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" WIDTH="21%"><FONT FACE="Times New Roman" SIZE="2">September&nbsp;23,&nbsp;2003</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="42%"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">/*/</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="1"><B>Dina Dublon</B></FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" WIDTH="33%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Director</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" WIDTH="21%"><FONT FACE="Times New Roman" SIZE="2">September&nbsp;23,&nbsp;2003</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="42%"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">/*/</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="1"><B>Karl-Heinz Fl&ouml;ther</B></FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" WIDTH="33%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Director</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" WIDTH="21%"><FONT FACE="Times New Roman" SIZE="2">September&nbsp;23,&nbsp;2003</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="42%"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">/*/</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="1"><B>Joel P. Friedman</B></FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" WIDTH="33%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Director</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" WIDTH="21%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">September&nbsp;23,&nbsp;2003</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="42%"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">/*/</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="1"><B>William D. Green</B></FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" WIDTH="33%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Director</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" WIDTH="21%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">September&nbsp;23,&nbsp;2003</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="42%"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">/*/</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="1"><B>Robert I. Lipp</B></FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" WIDTH="33%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Director</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" WIDTH="21%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">September&nbsp;23,&nbsp;2003</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="42%"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">/*/</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="1"><B>Blythe J. McGarvie</B></FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" WIDTH="33%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Director</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" WIDTH="21%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">September&nbsp;23,&nbsp;2003</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="42%"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">/*/</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="1"><B>Sir Mark Moody-Stuart</B></FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" WIDTH="33%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Director</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" WIDTH="21%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">September&nbsp;23,&nbsp;2003</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="42%"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">/*/</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="1"><B>Masakatsu Mori</B></FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" WIDTH="33%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Director</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" WIDTH="21%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">September&nbsp;23,&nbsp;2003</FONT></P></TD></TR>
</TABLE>  <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">II-2 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">



<TR>
<TD VALIGN="bottom" WIDTH="42%" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>Signature</B></FONT></P><HR WIDTH="54" SIZE="1" NOSHADE COLOR="#000000"></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="33%" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>Title</B></FONT></P><HR WIDTH="25" SIZE="1" NOSHADE COLOR="#000000"></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="21%" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>Date</B></FONT></P><HR WIDTH="26" SIZE="1" NOSHADE COLOR="#000000"></TD></TR>

<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="42%"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">/*/</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="1"><B>Carlos Vidal</B></FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" WIDTH="33%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Director</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" WIDTH="21%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">September&nbsp;23,&nbsp;2003</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="42%"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">/*/</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="1"><B>Wulf von Schimmelmann </B></FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" WIDTH="33%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Director</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" WIDTH="21%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">September&nbsp;23,&nbsp;2003</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="42%"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">/*/</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="1"><B>Jackson L. Wilson, Jr.</B></FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" WIDTH="33%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Director</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" WIDTH="21%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">September&nbsp;23,&nbsp;2003</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="42%"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">/*/</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="1"><B>Harry L. You </B></FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" WIDTH="33%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Chief Financial Officer (principal financial and accounting officer)</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" WIDTH="21%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">September&nbsp;23,&nbsp;2003</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" ALIGN="center" WIDTH="42%"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">/<SMALL>S</SMALL>/&nbsp;&nbsp;&nbsp;&nbsp;D<SMALL>OUGLAS</SMALL> G. S<SMALL>CRIVNER</SMALL></FONT></P><HR
SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>Douglas G. Scrivner</B></FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" WIDTH="33%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Authorized U.S. Representative</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" WIDTH="21%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">September&nbsp;23,&nbsp;2003</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="42%"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">*By Power of Attorney</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">/<SMALL>S</SMALL>/&nbsp;&nbsp;&nbsp;&nbsp;D<SMALL>OUGLAS</SMALL> G. S<SMALL>CRIVNER</SMALL></FONT></P><HR SIZE="1" NOSHADE
COLOR="#000000"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>Douglas G. Scrivner</B></FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" WIDTH="33%"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Attorney-in-Fact</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" WIDTH="21%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">September&nbsp;23,&nbsp;2003</FONT></P></TD></TR>
</TABLE>  <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">II-3 </FONT></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.2
<SEQUENCE>3
<FILENAME>dex12.htm
<DESCRIPTION>UNDERWRITING AGREEMENT, DATED SEPTEMBER 23, 2003
<TEXT>
<HTML><HEAD>
<TITLE>Underwriting Agreement, dated September 23, 2003</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2"><B>Exhibit 1.2 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Accenture Ltd </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Class A Common Shares </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P><HR WIDTH="21%" SIZE="1" NOSHADE
COLOR="#000000"> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B><I>Underwriting </I></B></FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B><I>Agreement </I></B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P><HR WIDTH="21%" SIZE="1" NOSHADE
COLOR="#000000"> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2">September 23, 2003 </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Morgan Stanley &amp; Co. Incorporated </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">J.P. Morgan Securities Inc. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Credit Suisse First Boston LLC </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">UBS Securities LLC </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Banc of America Securities LLC </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Citigroup Global Markets Inc. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Deutsche Bank Securities Inc. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Goldman, Sachs &amp;
Co. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">SG Cowen Securities Corporation </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Wachovia Capital Markets,
LLC </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Lehman Brothers Inc. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Needham &amp; Company, Inc.
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">SoundView Technology Corporation </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Bear, Stearns &amp; Co. Inc.
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">ABN AMRO Rothschild LLC </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Cazenove &amp; Co. Ltd </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Robert W. Baird &amp; Co. Incorporated </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Legg Mason Wood Walker, Incorporated
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Scotia Capital (USA) Inc. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Pacific Growth Equities, LLC
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">As representatives of the several Underwriters&nbsp;named in Schedule I hereto, </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
FACE="Times New Roman" SIZE="2">c/o Morgan Stanley &amp; Co. Incorporated </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">1585 Broadway </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
FACE="Times New Roman" SIZE="2">New York, New York 10036 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2%; text-indent:-2%"><FONT
FACE="Times New Roman" SIZE="2">Ladies and Gentlemen: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman"
SIZE="2">Accenture Ltd, an exempted company limited by shares registered in Bermuda (the <B>&#147;Company&#148;</B>), proposes, subject to the terms and conditions stated herein, to issue and sell to the Underwriters named in Schedule I hereto (the
<B>&#147;Underwriters&#148;</B>) an aggregate of 57,394,595 Class A Common Shares, par value $0.0000225 per share (&#147;<B>Common Shares</B>&#148;), of the Company and, at the election of the Underwriters, up to 12,300,000 additional Common Shares,
and the shareholders of the Company named in Schedule II hereto (the &#147;<B>Selling Shareholders</B>&#148;) </FONT></P>

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<FONT FACE="Times New Roman" SIZE="2">propose, subject to the terms and conditions stated herein, to sell to the Underwriters an aggregate of 24,605,405 Common Shares. The aggregate of 82,000,000
Common Shares to be sold by the Company and the Selling Shareholders is herein called the <B>&#147;Firm Shares&#148;</B> and the aggregate of 12,300,000 additional Common Shares to be sold by the Company is herein called the <B>&#147;Optional
Shares.&#148;</B> The Firm Shares and the Optional Shares that the Underwriters elect to purchase pursuant to Section 2 hereof are herein collectively called the <B>&#147;Shares.&#148;</B> </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">1. (a) Each of the Company and Accenture SCA, a Luxembourg
<I>soci&eacute;t&eacute; en commandite par actions </I>(<B>&#147;SCA&#148;</B>), represents and warrants to, and agrees with, each of the Underwriters that: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:7%"><FONT FACE="Times New Roman" SIZE="2">(i) A registration statement on Form S-3 (File No. 333-104628) (the <B>&#147;Initial Registration Statement&#148;</B>) in respect of the
Shares has been filed with the Securities and Exchange Commission (the <B>&#147;Commission&#148;</B>); the Initial Registration Statement and any post-effective amendment thereto, each in the form heretofore delivered to you, and, excluding exhibits
thereto, to you for each of the other Underwriters, have been declared effective by the Commission in such form; other than a registration statement, if any, increasing the size of the offering (a <B>&#147;Rule 462(b) Registration
Statement&#148;</B>), filed pursuant to Rule 462(b) under the Securities Act of 1933, as amended (the <B>&#147;Securities Act&#148;</B>), which became effective upon filing, no other document with respect to the Initial Registration Statement has
heretofore been filed with the Commission (other than prospectuses filed pursuant to Rule 424(b) of the rules and regulations of the Commission under the Securities Act, if any, each in the form heretofore delivered to you); and no stop order
suspending the effectiveness of the Initial Registration Statement, any post-effective amendment thereto, or the Rule 462(b) Registration Statement, if any, has been issued and no proceeding for that purpose has been initiated or, to the
Company&#146;s or SCA&#146;s knowledge, threatened by the Commission (any preliminary prospectus included in the Initial Registration Statement or filed with the Commission pursuant to Rule 424(a) of the rules and regulations of the Commission under
the Securities Act is hereinafter called a <B>&#147;Preliminary Prospectus&#148;</B>; the various parts of the Initial Registration Statement, any post-effective amendment thereto and the Rule 462(b) Registration Statement, if any, including all
exhibits thereto and including (i) if applicable, the information contained in the form of final prospectus filed with the Commission pursuant to Rule 424(b) of the rules and regulations of the Commission under the Securities Act in accordance with
Section 5(a) hereof and deemed by virtue of Rule 430A of the rules and regulations of the Commission under the Securities Act to be part of the Initial Registration Statement at the time it was declared effective and (ii) the documents incorporated
by reference in the prospectus contained in the Initial Registration Statement at the time such part of the Initial Registration Statement became effective, each as amended at the time such part of the Initial Registration Statement became effective
or such part of the Rule 462(b) Registration Statement, if any, became or hereafter becomes effective, are hereinafter collectively called the <B>&#147;Registration Statement&#148;</B>; and the final prospectus, in the form first filed pursuant to
Rule 424(b) of the rules and regulations of the Commission under the Securities Act in accordance with Section 5(a) hereof, is hereinafter called the <B>&#147;Prospectus&#148;</B>); any reference herein to any Preliminary Prospectus or the
Prospectus shall be deemed to refer to and include the documents incorporated by reference therein pursuant to the applicable form under the Securities Act, as of the date of such Preliminary Prospectus or Prospectus, as the case may be; any
reference to any </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">2 </FONT></P>


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<FONT FACE="Times New Roman" SIZE="2">amendment or supplement to any Preliminary Prospectus or the Prospectus shall be deemed to refer to and include any documents filed after the date of such
Preliminary Prospectus or Prospectus, as the case may be, under the Securities Exchange Act of 1934, as amended (the <B>&#147;Exchange Act&#148;</B>), and incorporated by reference in such Preliminary Prospectus or Prospectus, as the case may be;
and any reference to any amendment to the Registration Statement shall be deemed to refer to and include any annual report of the Company filed pursuant to Sections 13(a) or 15(d) of the Exchange Act after the effective date of the Initial
Registration Statement that is incorporated by reference in the Registration Statement; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:7%"><FONT FACE="Times New Roman" SIZE="2">(ii) No order preventing or suspending the use of the Registration Statement or the Prospectus has been issued by the Commission;
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:7%"><FONT FACE="Times New Roman" SIZE="2">(iii) The Registration Statement conforms,
and the Prospectus and any further amendments or supplements to the Registration Statement or the Prospectus will conform, in all material respects to the requirements of the Securities Act and the rules and regulations of the Commission thereunder
and such documents do not and will not, as of the applicable effective date as to the Registration Statement and any amendment thereto, and as of the applicable filing date as to the Prospectus and any amendment or supplement thereto, contain an
untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein (as to the Prospectus, in the light of the circumstances under which such statements were made) not
misleading; <I>provided</I>, <I>however</I>, that this representation and warranty shall not apply to any statements or omissions made in reliance upon and in conformity with information furnished in writing to the Company by any Underwriter through
Morgan Stanley &amp; Co. Incorporated (&#147;<B>Morgan Stanley</B>&#148;) expressly for use therein or by a Selling Shareholder expressly for use in the preparation of the answers therein to Item 7 of Form S-3; </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:7%"><FONT FACE="Times New Roman" SIZE="2">(iv) The documents incorporated by reference in the
Prospectus, when they became effective or were filed with the Commission, as the case may be, conformed in all material respects to the requirements of the Securities Act or the Exchange Act, as applicable, and the rules and regulations of the
Commission thereunder, and none of such documents contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary to make the statements therein not misleading; and any further
documents so filed and incorporated by reference in the Prospectus or any further amendment or supplement thereto, when such documents become effective or are filed with the Commission, as the case may be, will conform in all material respects to
the requirements of the Securities Act or the Exchange Act, as applicable, and the rules and regulations of the Commission thereunder and will not contain an untrue statement of a material fact or omit to state a material fact required to be stated
therein or necessary to make the statements therein not misleading; <I>provided</I>, <I>however</I>, that this representation and warranty shall not apply to any statements or omissions made in reliance upon and in conformity with information
furnished in writing to the Company by any Underwriter through Morgan Stanley expressly for use therein; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">3 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:7%"><FONT FACE="Times New Roman" SIZE="2">(v) Neither the Company, SCA nor any of its subsidiaries has sustained since the date of
the latest audited financial statements included or incorporated by reference in the Prospectus any loss or interference with its business that is material to the Company, SCA and its subsidiaries, taken as a whole, from fire, explosion, flood or
other calamity, whether or not covered by insurance, or from any labor dispute or court or governmental action, order or decree, otherwise than as set forth or contemplated in the Prospectus; since the respective dates as of which information is
given in the Registration Statement and the Prospectus, except as disclosed or contemplated in the Prospectus or in connection with the Company&#146;s share incentive and employee share purchase plans or the hiring, promotion, demotion, reassignment
or termination of employees in the ordinary course of business, (i) there has not been any change in the share capital or capital stock, as the case may be, of the Company or SCA, (ii) there has not been any material increase in the consolidated
long-term debt of the Company, (iii) there has not been any adverse change in the capital stock of any of SCA&#146;s subsidiaries that is material to the Company, SCA and its subsidiaries, taken as a whole, and (iv) there has not been any material
adverse change, or any development involving a prospective material adverse change, in the business, management, financial position, shareholders&#146; equity or results of operations of the Company, SCA and its subsidiaries, taken as a whole;
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:7%"><FONT FACE="Times New Roman" SIZE="2">(vi) The Company (i) has been duly continued
into Bermuda as an exempted company under Section 132C of the Companies Act 1981 of Bermuda and is validly existing as an exempted company in good standing under the laws of Bermuda, with corporate power and authority to own its assets and conduct
its business as described in the Prospectus and (ii) has been duly qualified or registered as a foreign corporation for the transaction of business and is in good standing (to the extent such concept exists in the jurisdiction in question) under the
laws of each other jurisdiction in which it owns or leases properties or conducts any business so as to require such qualification or registration, or is subject to no material liability or disability by reason of the failure to be so qualified or
registered or be in good standing in any such jurisdiction, except where the failure to be so qualified or registered or be in good standing would not reasonably be expected to have a material adverse effect on the business, management, financial
position, shareholders&#146; equity or results of operation of the Company, SCA and its subsidiaries, taken as a whole (a <B>&#147;Material Adverse Effect&#148;</B>); </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:7%"><FONT FACE="Times New Roman" SIZE="2">(vii) The Company&#146;s only material asset is the capital stock of SCA as described in the Prospectus;
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:7%"><FONT FACE="Times New Roman" SIZE="2">(viii) SCA (i) has been duly organized and is
validly existing as a <I>soci&eacute;t&eacute; en commandite par actions </I>under the laws of Luxembourg, with corporate power and authority to own its properties and conduct its business as described in the Prospectus and (ii) has been duly
qualified or registered as a foreign corporation for the transaction of business and is in good standing (to the extent such concept exists in the jurisdiction in question) under the laws of each other jurisdiction in which it owns or leases
properties or conducts any business so as to require such qualification or registration, or is subject to no material liability or disability by reason of the failure to be so qualified or registered or in good standing in any such jurisdiction,
except where the failure to be so qualified or </FONT>
</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">4 </FONT></P>


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<FONT FACE="Times New Roman" SIZE="2">registered or be in good standing would not reasonably be expected to have a Material Adverse Effect; </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:7%"><FONT FACE="Times New Roman" SIZE="2">(ix) Each subsidiary of SCA (i) has been duly organized and
is validly existing as a corporation or other entity in good standing (to the extent such concept exists in the jurisdiction in question) under the laws of its jurisdiction of organization, with power and authority (corporate and other) to own its
properties and conduct its business as described in the Prospectus and (ii) has been duly qualified or registered as a foreign corporation for the transaction of business and is in good standing (to the extent such concept exists in the jurisdiction
in question) under the laws of each other jurisdiction in which it owns or leases properties or conducts any business so as to require such qualification or registration, or is subject to no material liability or disability by reason of the failure
to be so qualified or registered or in good standing in any such jurisdiction, except where the failure to be so duly organized or existing or have such power or authority or be so qualified or registered or be in good standing would not reasonably
be expected to have a Material Adverse Effect; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:7%"><FONT FACE="Times New Roman"
SIZE="2">(x) The Company has an authorized capitalization as set forth in the Prospectus, and all of the issued shares of share capital of the Company have been duly and validly authorized and issued, are fully paid and non-assessable, and conform
to the description thereof contained in the Prospectus; all of the issued shares of capital stock of SCA have been duly and validly authorized and issued, are fully paid and non-assessable and (except for directors&#146; qualifying shares and except
as set forth or contemplated in the Prospectus) are owned directly or indirectly by the Company, free and clear of all liens, encumbrances, equities or claims; all of the issued shares of capital stock of each subsidiary of SCA have been duly and
validly authorized and issued, are fully paid and non-assessable and (except for directors&#146; qualifying shares and except as set forth or contemplated in the Prospectus) are owned directly or indirectly by SCA, free and clear of all liens,
encumbrances, equities or claims, except where it would not reasonably be expected to have a Material Adverse Effect; the holders of outstanding shares of share capital of the Company are not entitled to preemptive or other rights to acquire the
Shares; and there are no restrictions on subsequent transfers of the Shares under the laws of Bermuda (except that the permission of the Bermuda Monetary Authority is required, and has been obtained, for the free transferability of the Shares);
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:7%"><FONT FACE="Times New Roman" SIZE="2">(xi) The Shares to be issued and sold by the
Company to the Underwriters hereunder have been duly and validly authorized and, when issued and delivered against payment therefor as provided herein, will be duly and validly issued and fully paid and non-assessable and will conform to the
description of the Common Shares contained in the Prospectus; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:7%"><FONT
FACE="Times New Roman" SIZE="2">(xii) The issue and sale of the Shares to be sold by the Company hereunder and the compliance by the Company and SCA with all of the provisions of this Agreement and the consummation of the transactions herein
contemplated (i) will not result in any violation of the provisions of the Memorandum of Continuance or Bye-laws of the Company or the Articles of Association of SCA and (ii) except with respect to any conflicts, breaches, violations or defaults
which would not reasonably be expected to </FONT>
</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">5 </FONT></P>


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<FONT FACE="Times New Roman" SIZE="2">have a Material Adverse Effect or a material adverse effect on the offering contemplated hereby, will not (A) conflict with or result in a breach or
violation of any of the terms or provisions of, or constitute a default under any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company, SCA or any of its subsidiaries is a party or by which the
Company, SCA or any of its subsidiaries is bound or to which any of the property or assets of the Company, SCA or any of its subsidiaries is subject, (B) violate any constituent documents of any of SCA&#146;s subsidiaries or (C) violate any statute
or any order, rule or regulation of any court or governmental agency or body or any stock exchange authorities (hereinafter referred to as a <B>&#147;Governmental Agency&#148;</B>) having jurisdiction over the Company, SCA or any of its subsidiaries
or any of their properties; and no consent, approval, authorization, order, registration, clearance or qualification of or with any such Governmental Agency (hereafter referred to as <B>&#147;Governmental Authorizations&#148;</B>) is required for
the due authorization, execution and delivery by the Company and SCA of this Agreement and for the issue and sale of the Shares to be sold by the Company hereunder or the consummation by the Company and SCA of the transactions contemplated by this
Agreement, except (A) the registration under the Securities Act of the Shares, (B) the listing of the Shares to be issued and sold by the Company hereunder on the New York Stock Exchange (the <B>&#147;Exchange&#148;</B>), (C) such Governmental
Authorizations as have been duly obtained and are in full force and effect and (D) such Governmental Authorizations as may be required under state or Blue Sky laws in connection with the purchase and distribution of the Shares by or for the account
of the Underwriters or under any laws of jurisdictions outside Bermuda and the United States in connection with the purchase and distribution of the Shares by or for the account of the Underwriters; </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:7%"><FONT FACE="Times New Roman" SIZE="2">(xiii) The Company is not in violation of its Memorandum of
Continuance or Bye-laws; SCA is not in violation of its Articles of Association; and except for violations or defaults that individually or in the aggregate would not reasonably be expected to have a Material Adverse Effect, none of SCA&#146;s
subsidiaries is in violation of any of their constituent documents and neither the Company, SCA nor any of its subsidiaries is in default in the performance or observance of any obligation, agreement, covenant or condition contained in any
indenture, mortgage, deed of trust, loan agreement, lease or other agreement or instrument to which it is a party or by which it or any of its properties may be bound; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:7%"><FONT FACE="Times New Roman" SIZE="2">(xiv) No stamp or other issuance or transfer taxes or duties and no capital gains, income, withholding or
other taxes are payable by or on behalf of the Underwriters to Bermuda or any political subdivision or taxing authority thereof or therein in connection with the sale and delivery by the Company or the Selling Shareholders of the Shares to or for
the respective accounts of the Underwriters or the sale and delivery outside Bermuda by the Underwriters of the Shares to the initial purchasers thereof; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:7%"><FONT FACE="Times New Roman" SIZE="2">(xv) Except as described or contemplated in the Prospectus, there are no contracts, agreements or understandings between the Company and
any person granting such person the right to require the Company to file a registration statement under the Securities Act with respect to any securities of the Company or to require the Company </FONT>
</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">6 </FONT></P>


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<FONT FACE="Times New Roman" SIZE="2">to include such securities with the Common Shares registered pursuant to the Registration Statement; </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:7%"><FONT FACE="Times New Roman" SIZE="2">(xvi) All dividends and other distributions declared and
payable on the shares of share capital of the Company may under the current laws and regulations of Bermuda be paid in currency other than Bermuda currency that may be freely transferred out of Bermuda without the necessity of obtaining any
Governmental Authorization in Bermuda, and all such dividends and other distributions will not be subject, under current laws and regulations, to withholding, deduction or other taxes under the laws and regulations of Bermuda; </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:7%"><FONT FACE="Times New Roman" SIZE="2">(xvii) The statements set forth in the Prospectus under the
caption &#147;Description of Share Capital,&#148; insofar as they purport to constitute a summary of the terms of the Common Shares, and under the caption &#147;Material Income Tax Consequences,&#148; insofar as they purport to describe the
provisions of the laws and documents referred to therein, are accurate in all material respects; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:7%"><FONT FACE="Times New Roman" SIZE="2">(xviii) Other than as set forth or contemplated in the Prospectus, there are no legal or governmental proceedings pending to which the
Company, SCA or any of its subsidiaries is a party or of which any property of the Company, SCA or any of its subsidiaries is the subject which would individually or in the aggregate reasonably be expected to have a Material Adverse Effect; and, to
the Company&#146;s and SCA&#146;s knowledge, no such proceedings are threatened or contemplated by any Governmental Agency or threatened by others; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:7%"><FONT FACE="Times New Roman" SIZE="2">(xix) The Company is not and, after giving effect to the offering and sale of the Shares, will not be an &#147;investment company,&#148;
as such term is defined in the Investment Company Act of 1940, as amended (the <B>&#147;Investment Company Act&#148;</B>); </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:7%"><FONT FACE="Times New Roman" SIZE="2">(xx) Except where it would not reasonably be expected to have a Material Adverse Effect, the Company, SCA and each of its subsidiaries
have all licenses, franchises, permits, authorizations, approvals and orders and other concessions of and from all Governmental Agencies that are necessary to own or lease their other properties and conduct their businesses as described in the
Prospectus; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:7%"><FONT FACE="Times New Roman" SIZE="2">(xxi) Based on the projected
composition of the Company&#146;s income and valuation of its assets, including goodwill, the Company does not believe that it will be a Passive Foreign Investment Company (<B>&#147;PFIC&#148;</B>) within the meaning of Section 1297 of the United
States Internal Revenue Code of 1986, as amended, in 2003, and does not expect to become a PFIC in the future; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:7%"><FONT FACE="Times New Roman" SIZE="2">(xxii) PricewaterhouseCoopers LLP, who have certified certain financial statements of the Company, and KMPG LLP, who have certified
certain financial statements of the Company, are each independent public accountants as required by the Securities Act and the rules and regulations of the Commission thereunder; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:7%"><FONT FACE="Times New Roman" SIZE="2">(xxiii) Except as described in the Prospectus, (i) to the knowledge of the Company and SCA, the Company, SCA
and its subsidiaries own or possess valid licenses </FONT>
</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<FONT FACE="Times New Roman" SIZE="2">or other rights to use all patents, trademarks, service marks, trade names, copyrights, know-how, trade secrets and other intellectual property necessary to
conduct the business of the Company, SCA and its subsidiaries in the manner in which it has been and is being conducted, except as would not reasonably be expected to have a Material Adverse Effect, (ii) the Company, SCA and its subsidiaries have
not received any notice of infringement or of conflict with (and the Company and SCA know of no such infringement or conflict with) asserted rights of others with respect to any patents, trademarks, service marks, trade names, copyrights, know-how,
trade secrets or other intellectual property which infringement or conflict would individually or in the aggregate reasonably be expected to have a Material Adverse Effect and (iii) to the knowledge of the Company and SCA, the inventions, products
or processes referred to in the Prospectus do not infringe any right or patent, or any invention, product or process which is the subject of a patent application known to the Company and SCA, which would be reasonably likely to have a Material
Adverse Effect; and </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:7%"><FONT FACE="Times New Roman" SIZE="2">(xxiv) The Shares to be
sold by the Company have been approved for listing on the Exchange, subject to official notice of issuance; and the Shares to be sold by the Selling Shareholders have been approved for listing on the Exchange. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman" SIZE="2">(b) Each of the Selling Shareholders severally represents and warrants to,
and agrees with, each of the Underwriters, the Company and SCA that: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:7%"><FONT
FACE="Times New Roman" SIZE="2">(i) All Governmental Authorizations required for the sale and delivery of the Shares to be sold by the Selling Shareholder hereunder and for the execution and delivery by such Selling Shareholder of this Agreement and
the Power of Attorney hereinafter referred to have been obtained, except (A) the registration under the Securities Act of the Shares and (B) such Governmental Authorizations as may be required under state or Blue Sky laws in connection with the
purchase from such Selling Shareholder and distribution of the Shares by or for the account of the Underwriters or under any laws of jurisdictions outside Bermuda and the United States in connection with the purchase from such Selling Shareholder
and distribution of the Shares by or for the account of the Underwriters; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:7%"><FONT
FACE="Times New Roman" SIZE="2">(ii) If such Selling Shareholder is not a natural person, such Selling Shareholder has full right, power and authority, and if such Selling Shareholder is a natural person, such Selling Shareholder has full right, to
enter into this Agreement and to sell, assign, transfer and deliver the Shares to be sold by such Selling Shareholder hereunder; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:7%"><FONT FACE="Times New Roman" SIZE="2">(iii) The sale of the Shares to be sold by such Selling Shareholder hereunder and the compliance by such Selling Shareholder with all of
the provisions of this Agreement and the Power of Attorney and the consummation of the transactions herein and therein contemplated will not conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a
default under, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which such Selling Shareholder is a party or by which such Selling Shareholder is bound or to which any of the property or assets of such
Selling Shareholder is subject, except that such Selling Shareholder may need (1) a waiver of the transfer restrictions under the Voting Agreement, dated as of </FONT>
</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">8 </FONT></P>


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<FONT FACE="Times New Roman" SIZE="2">April 18, 2001, among the Company and the covered persons party thereto (as amended or supplemented as of the date hereof, the <B>&#147;Voting
Agreement&#148;</B>), (2) the approval of the Company under the Common Agreement, dated as of April 19, 2002, among the Company and the partners party thereto (the <B>&#147;Common Agreement&#148;</B>) and/or (3) the approval of the Company under the
Transfer Restriction Agreement, dated as of October 1, 2002, among the Company and the transferors and transferees party thereto; nor, in the case of Selling Shareholders that are not natural persons, will such action result in any violation of the
provisions of the certificate of incorporation, by-laws or other organizational or constituent documents of such Selling Shareholder; nor, in the case of any Selling Shareholder, will such action result in any violation of any statute or any order,
rule or regulation of any Governmental Agency having jurisdiction over such Selling Shareholder or the property of such Selling Shareholder; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:7%"><FONT FACE="Times New Roman" SIZE="2">(iv) Immediately prior to the First Time of Delivery (as defined in Section 4 hereof) such Selling Shareholder will have good and valid
beneficial title to the Shares to be sold by such Selling Shareholder hereunder, free and clear of all liens (except for liens in favor of the Company, SCA and its subsidiaries), encumbrances, equities or claims, and, upon delivery of such Shares
and payment therefor pursuant hereto, good and valid title to such Shares, free and clear of all liens, encumbrances, equities or claims, will pass to the several Underwriters; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:7%"><FONT FACE="Times New Roman" SIZE="2">(v) Such Selling Shareholder has not taken and will not take, directly or indirectly, any action which is
designed to or which has constituted or which might reasonably be expected to cause or result in unlawful stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Shares; </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:7%"><FONT FACE="Times New Roman" SIZE="2">(vi) To the extent that any statements or omissions made in
the Registration Statement, the Prospectus or any amendment or supplement thereto are made in reliance upon and in conformity with written information furnished to the Company by such Selling Shareholder expressly for use therein, the Registration
Statement did, and the Prospectus and any further amendments or supplements to the Registration Statement and the Prospectus, when they become effective or are filed with the Commission, as the case may be, will conform in all material respects to
the requirements of the Securities Act and the rules and regulations of the Commission thereunder and did not and will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary
to make the statements therein not misleading; and </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:7%"><FONT FACE="Times New Roman"
SIZE="2">(vii) A Power of Attorney and a Shareholder Communication, in the form or forms heretofore furnished to you (collectively, the <B>&#147;Power of Attorney&#148;</B>) has been duly executed and delivered by or on behalf of such Selling
Shareholder, appointing the persons indicated in such Power of Attorney, and each of them, as such Selling Shareholder&#146;s attorneys-in-fact (the <B>&#147;Attorneys-in-Fact&#148;</B>) with authority to determine the purchase price per share to be
paid by the Underwriters as provided in Section 2 of this Agreement, to execute and deliver this Agreement on behalf of such Selling Shareholder, to authorize the delivery of the Shares to be sold by such Selling Shareholder hereunder and otherwise
to act on behalf of such Selling Shareholder in connection with the transactions contemplated by this Agreement. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">9 </FONT></P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman" SIZE="2">(c) Each of the Selling Shareholders severally agrees with each of the Underwriters, the Company and SCA
that the appointment by such Selling Shareholder of the Attorneys-in-Fact by the Power of Attorney, are to that extent irrevocable; the obligations of the Selling Shareholders hereunder shall not be terminated by operation of law, whether by the
death, disability, incompetency or incapacity of any individual Selling Shareholder or, in the case of an estate or trust, by the death, disability, incompetency or incapacity of any executor or trustee or the termination of such estate or trust, or
in the case of a partnership or corporation, by the dissolution of such partnership or corporation, or by the occurrence of any other event; if any individual Selling Shareholder or any such executor or trustee should die or become disabled,
incompetent or incapacitated, or if any such estate or trust should be terminated, or if any such partnership or corporation should be dissolved, or if any other such event should occur, before the delivery of the Shares hereunder, the Shares shall
be delivered by or on behalf of the Selling Shareholders in accordance with the terms and conditions of this Agreement; and actions taken by the Attorneys-in-Fact pursuant to the Power of Attorney shall be as valid as if such death, disability,
incompetency, incapacity, termination, dissolution or other event had not occurred, regardless of whether or not the Attorneys-in-Fact, or any of them, shall have received notice of such death, disability, incompetency, incapacity, termination,
dissolution or other event. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">2. Subject to the terms and
conditions herein set forth, (a) the Company and each of the Selling Shareholders agree, severally and not jointly, to sell to each of the Underwriters, and each of the Underwriters agrees, severally and not jointly, to purchase from the Company and
each of the Selling Shareholders, at a purchase price per Share of $20.4015 the number of Firm Shares (to be adjusted by you so as to eliminate fractional shares) determined by multiplying the aggregate number of Firm Shares to be sold by the
Company and each of the Selling Shareholders as set forth opposite their respective names in Schedule II hereto by a fraction, the numerator of which is the aggregate number of Firm Shares to be purchased by such Underwriter as set forth opposite
the name of such Underwriter in Schedule I hereto and the denominator of which is the aggregate number of Firm Shares to be purchased by all of the Underwriters from the Company and all of the Selling Shareholders hereunder and (b) in the event and
to the extent that the Underwriters shall exercise the election to purchase Optional Shares as provided below, the Company agrees to sell to each of the Underwriters, and each of the Underwriters agrees, severally and not jointly, to purchase from
the Company, at the purchase price per Share set forth in clause (a) of this Section 2, that portion of the number of Optional Shares as to which such election shall have been exercised (to be adjusted by you so as to eliminate fractional shares)
determined by multiplying such number of Optional Shares by a fraction, the numerator of which is the maximum number of Optional Shares which such Underwriter is entitled to purchase as set forth opposite the name of such Underwriter in Schedule I
hereto and the denominator of which is the maximum number of Optional Shares that all of the Underwriters are entitled to purchase hereunder. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">The Company hereby grants to the Underwriters the right to purchase at their election up to 12,300,000 Optional Shares, at the purchase price per share
set forth in the paragraph above, for the sole purpose of covering sales of shares in excess of the number of Firm Shares. Any such election to purchase Optional Shares may be exercised only by written notice from Morgan Stanley to the Company,
given within a period of 30 calendar days after the date of this Agreement and setting forth the aggregate number of Optional Shares to be purchased and the date on which such Optional Shares are to be delivered, as determined by Morgan Stanley but
in </FONT>
</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<FONT FACE="Times New Roman" SIZE="2">no event earlier than the First Time of Delivery (as defined in Section 4 hereof) or, unless Morgan Stanley and the Company otherwise agree in writing,
earlier than two or later than ten business days after the date of such notice. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT
FACE="Times New Roman" SIZE="2">3. Upon the authorization by Morgan Stanley of the release of the Firm Shares, the several Underwriters propose to offer the Firm Shares for sale upon the terms and conditions set forth in the Prospectus. Each
Underwriter represents and agrees that (i) it has not offered or sold and, prior to the date six months after the Closing Date, will not offer or sell, any Shares to persons in the United Kingdom except to persons whose ordinary activities involve
them in acquiring, holding, managing or disposing of investments (as principal or agent) for the purposes of their businesses or otherwise in circumstances which have not resulted and will not result in an offer to the public in the United Kingdom
within the meaning of the Public Offers of Securities Regulations 1995; (ii) it has complied and will comply with all applicable provisions of the Financial Services and Markets Act 2000 (the <B>&#147;FSMA&#148;</B>) with respect of anything done by
it in relation to the Shares in, from or otherwise involving the United Kingdom; and (iii) it will only communicate or cause to be communicated any invitation or inducement to engage in investment activity (within the meaning of section 21 of the
FSMA) received by it in connection with the issue or sale of the Shares in circumstances in which section 21(1) of the FSMA does not apply to the Company. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">4. (a) The Shares to be purchased by each Underwriter hereunder, in definitive form, and in such authorized denominations and registered in such names as
Morgan Stanley may request upon at least forty-eight hours&#146; prior notice to the Company and the Attorneys-in-Fact, shall be delivered by or on behalf of the Company and the Selling Shareholders to the account specified by Morgan Stanley,
through the facilities of The Depository Trust Company (<B>&#147;DTC&#148;</B>), for the account of such Underwriter, against payment by or on behalf of such Underwriter of the purchase price therefor by wire transfer of Federal (same-day) funds to
the accounts specified by the Company and the Attorneys-in-Fact to Morgan Stanley at least forty-eight hours in advance. The time and date of such delivery and payment shall be, with respect to the Firm Shares, 9:30 a.m., New York City time, on
September 29, 2003 or such other time and date as Morgan Stanley, the Company and the Attorneys-in-Fact may agree upon in writing, and, with respect to the Optional Shares, 9:30 a.m., New York City time, on the date specified by Morgan Stanley in
the written notice given by Morgan Stanley of the Underwriters&#146; election to purchase such Optional Shares, or such other time and date as Morgan Stanley and the Company may agree upon in writing. Such time and date for delivery of the Firm
Shares is herein called the <B>&#147;First Time of Delivery&#148;</B>, such time and date for delivery of the Optional Shares, if not the First Time of Delivery, is herein called the <B>&#147;Second Time of Delivery&#148;</B>, and each such time and
date for delivery is herein called a <B>&#147;Time of Delivery&#148;</B>. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT
FACE="Times New Roman" SIZE="2">(b) The documents to be delivered at each Time of Delivery by or on behalf of the parties hereto pursuant to Section 7 hereof, including the cross receipt for the Shares and any additional documents requested by the
Underwriters pursuant to Section 7(u) hereof, will be delivered at the offices of Shearman &amp; Sterling LLP, 599 Lexington Avenue, New York, New York 10022 (the <B>&#147;Closing Location&#148;</B>), and the Shares will be delivered through the
facilities of DTC, all at such Time of Delivery. A meeting will be held at the Closing Location at 10:00 a.m., New York City time, on the New York Business Day immediately preceding such Time of Delivery, at which meeting the final drafts of the
documents to be delivered pursuant to the preceding sentence will be available for review by the parties hereto. For the purposes of this Section 4, <B>&#147;New York Business Day&#148;</B> shall mean each Monday, Tuesday, Wednesday, Thursday and
Friday which is not a day on which banking institutions in New York are generally authorized or obligated by law or executive order to close. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">5. The Company agrees with each of the Underwriters: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman" SIZE="2">(a) To prepare the Prospectus in a form approved by Morgan Stanley (such approval not to be unreasonably withheld) and to file such Prospectus pursuant to
Rule 424(b) of the rules and regulations of the Commission under the Securities Act not later than the Commission&#146;s close of business on the second business day following the execution and delivery of this Agreement, or, if applicable, such
earlier time as may be required by Rule 430A(a)(3) of </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">11 </FONT></P>


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<FONT FACE="Times New Roman" SIZE="2">the rules and regulations of the Commission under the Securities Act; during such period after the first date of the offering of the Shares as in the opinion
of counsel to the Underwriters the Prospectus is required by law to be delivered in connection with sales by the Underwriters, to make no further amendment or any supplement to the Registration Statement or Prospectus which shall be reasonably
disapproved by Morgan Stanley promptly after reasonable notice thereof; provided that the foregoing shall not prevent the Company from filing reports under the Exchange Act to the extent required in the reasonable opinion of counsel to the Company;
to advise Morgan Stanley promptly of any such amendment or supplement and to furnish Morgan Stanley with copies thereof; to file promptly all reports and any definitive proxy or information statements required to be filed by the Company with the
Commission pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act subsequent to the date of the Prospectus and for so long as the delivery of a prospectus is required in connection with the offering or sale of the Shares, and during such
same period to advise Morgan Stanley, promptly after it receives notice thereof, (A) of the time when any amendment to the Registration Statement has been filed or becomes effective or any supplement to the Prospectus or any amended Prospectus has
been filed with the Commission, (B) of the issuance by the Commission of any stop order or of any order preventing or suspending the use of any prospectus relating to the Shares, (C) of the suspension of the qualification of the Shares for offering
or sale in any jurisdiction, (D) of the initiation or threatening of any proceeding for any such purpose, or (E) of any request by the Commission for the amending or supplementing of the Registration Statement or Prospectus or for additional
information; and, in the event of the issuance of any stop order or of any order preventing or suspending the use of any prospectus relating to the Shares or suspending any such qualification, promptly to use its best efforts to obtain the
withdrawal of such order; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman" SIZE="2">(b) Promptly from time to time to
take such action as you may reasonably request to qualify the Shares for offering and sale under the securities laws of such jurisdictions as you may request and to comply with such laws so as to permit the continuance of sales and dealings therein
in such jurisdictions for as long as may be necessary to complete the distribution of the Shares, provided that in connection therewith the Company shall not be required to qualify as a foreign corporation or to file a general consent to service of
process in any jurisdiction; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman" SIZE="2">(c) To use its best efforts to
furnish the Underwriters with written and electronic copies of the Prospectus in New York City prior to 5:00 P.M. New York City time, on the New York Business Day next succeeding the date of this Agreement but in any event no later than 12:00 P.M.
New York City time, on the second New York Business Day succeeding the date of this Agreement, and from time to time, in such quantities as you may reasonably request, and, if the delivery of a prospectus is required at any time prior to the
expiration of nine months after the time of issue of the Prospectus in connection with the offering or sale of the Shares and if at such time any event shall have occurred as a result of which the Prospectus as then amended or supplemented would
include an untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made when such Prospectus is delivered, not misleading, or,
if for any other reason it shall be necessary during such period to amend or supplement the Prospectus or to file under the Exchange Act any document incorporated by reference in the Prospectus in order to comply with the Securities Act or the
Exchange Act, to notify you and upon your request to file such document and prepare and furnish without charge to each Underwriter and to any dealer in securities as many written and electronic copies as you may from time to time reasonably request
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">12 </FONT></P>


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<FONT FACE="Times New Roman" SIZE="2">of an amended Prospectus or a supplement to the Prospectus which will correct such statement or omission or effect such compliance, and in case any
Underwriter is required to deliver a prospectus in connection with sales of any of the Shares at any time nine months or more after the time of issue of the Prospectus, upon your request but at the expense of such Underwriter, to prepare and deliver
to such Underwriter as many written and electronic copies as you may reasonably request of an amended or supplemented Prospectus complying with Section 10(a)(3) of the Securities Act; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman" SIZE="2">(d) To make generally available to its securityholders as soon as practicable, but in any event not later than eighteen
months after the effective date of the Registration Statement (as defined in Rule 158(c) under the Securities Act), an earnings statement of the Company and its subsidiaries (which need not be audited) complying with Section 11(a) of the Securities
Act and the rules and regulations of the Commission thereunder (including, at the option of the Company, Rule 158); </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman" SIZE="2">(e) During the period beginning from the date of the Prospectus continuing through the date one year after the date of the Prospectus, not to, and to
cause SCA and all of its subsidiaries not to, offer, sell, contract to sell or otherwise dispose of, except as provided hereunder, any Common Shares or any securities of the Company that are substantially similar to the Common Shares, including but
not limited to any securities that are convertible into or exchangeable for, or that represent the right to receive, Common Shares or any such substantially similar securities (collectively, the <B>&#147;Securities&#148;</B>), without Morgan
Stanley&#146;s prior written consent (other than (A) pursuant to employee share incentive and employee share purchase plans existing on the date of the Prospectus (including dispositions of Common Shares to satisfy tax withholding obligations); (B)
pursuant to equity plans formed after the date of the Prospectus (including dispositions of Common Shares to satisfy tax withholding obligations), so long as the recipients of any awards under such plans are partners and are bound by the share
transfer restrictions referred to in Section 7(q) hereof, (C) upon the redemption or exchange of Accenture SCA Class I common shares or Accenture Canada Holdings Inc. exchangeable shares outstanding as of the date of the Prospectus; (D) upon
termination of the period from the date of the Prospectus continuing through the date 90 days after the date of the Prospectus, to facilitate transactions permitted under the terms of the Common Agreements, provided that the Company does not offer
or sell Securities in a firm commitment underwritten public offering; or (E) in connection with acquisitions, provided that during the period beginning from the date of the Prospectus continuing through the date 90 days after the date of the
Prospectus, the number of Securities disposed of in such transactions will not exceed 10% of the Common Shares to be outstanding immediately following the offering contemplated hereby (assuming all Accenture SCA Class I common shares and Accenture
Canada Holdings Inc. exchangeable shares not held by Accenture Ltd or any of its subsidiaries are redeemed or exchanged for newly issued Common Shares on a one-for-one basis), and provided further, that any recipients of such Securities during such
period agree to bound by this Section 5(e) for 90 days from the date of the Prospectus); </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT
FACE="Times New Roman" SIZE="2">(f) To use the net proceeds received by it from the sale of the Shares pursuant to this Agreement in a manner consistent in all material respects with the description in the Prospectus under the caption &#147;Use of
Proceeds&#148;; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">13 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman" SIZE="2">(g) Not to (and to cause its subsidiaries not to) take, directly or indirectly, any action in connection
with the distribution of the Shares contemplated hereby which is designed to constitute, which constitutes, or which might reasonably be expected to cause or result in, unlawful stabilization or manipulation of the price of any security of the
Company to facilitate the sale or resale of the Shares; and <B></B> </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman"
SIZE="2">(h) If the Company elects to rely upon Rule 462(b), the Company shall file a Rule 462(b) Registration Statement with the Commission in compliance with Rule 462(b) by 10:00 P.M., Washington, D.C. time, on the date of this Agreement, and the
Company shall at the time of filing either pay to the Commission the filing fee for the Rule 462(b) Registration Statement or give irrevocable instructions for the payment of such fee pursuant to Rule 111(b) under the Act. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">6. The Company and SCA, jointly and severally, covenant and agree with the
several Underwriters that the Company and SCA will pay or cause to be paid the following: (i) the fees, disbursements and expenses of the Company&#146;s counsel and accountants in connection with the registration of the Shares under the Securities
Act and, except as provided in Section 5(c) hereof, all other expenses in connection with the preparation, printing and filing of the Registration Statement and the Prospectus and amendments and supplements thereto and the mailing and delivering of
copies thereof to the Underwriters and dealers; (ii) the cost of printing or producing any Agreement among Underwriters, this Agreement, the Blue Sky Memorandum, closing documents (including compilations thereof) and any other documents in
connection with the offering, purchase, sale and delivery of the Shares; (iii) all expenses in connection with the qualification of the Shares for offering and sale under state securities laws as provided in Section 5(b) hereof, including the fees
and disbursements of counsel for the Underwriters in connection with such qualification and in connection with the Blue Sky survey; (iv) all fees and expenses in connection with listing the Shares on the Exchange; (v) the filing fees incident to,
and the fees and disbursements of counsel for the Underwriters in connection with, securing any required review by the National Association of Securities Dealers, Inc. of the terms of the sale of the Shares; (vi) the cost of preparing share
certificates; (vii) the cost and charges of any transfer agent or registrar; (viii) the fees and expenses of the Attorneys-in-Fact; (ix) the fees and expenses of the Authorized Agent (as defined in Section 14 hereof); (x) the fees and expenses of
counsels for the Selling Shareholders; (xi) all expenses and taxes incident to the sale and delivery of the Shares to be sold by the Selling Shareholders to the Underwriters hereunder, it being understood that in connection with this clause (xi),
Morgan Stanley agrees to pay New York State stock transfer tax, and the Company and SCA agree to reimburse Morgan Stanley for associated carrying costs if such tax payment is not rebated on the day of payment and for any portion of such tax payment
not rebated, and (xii) all other costs and expenses incident to the performance of their obligations and the Selling Shareholders&#146; obligations hereunder which are not otherwise specifically provided for in this Section. It is understood,
however, that, except as provided in this Section, and Sections 8 and 11 hereof, the Underwriters will pay all of their own costs and expenses, including the fees of their counsel, stock transfer taxes (other than any imposed by Bermuda or any
political subdivision or taxing authority thereof or therein) on resale of any of the Shares by them, and any advertising expenses connected with any offers they may make. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">14 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">7. The obligations of the Underwriters hereunder, as to the Shares to be delivered at each Time of
Delivery, shall be subject, in their discretion, to the condition that all representations and warranties and other statements of the Company, SCA and, in respect of the First Time of Delivery only, the Selling Shareholders herein are, at and as of
such Time of Delivery, true and correct, the condition that the Company, SCA and, in respect of the First Time of Delivery only, the Selling Shareholders shall have performed all of their respective obligations hereunder theretofore to be performed
in all material respects, and the following additional conditions: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman"
SIZE="2">(a) No stop order suspending the effectiveness of the Registration Statement or any part thereof shall have been issued and no proceeding for that purpose shall have been initiated or threatened by the Commission; and all requests for
additional information on the part of the Commission shall have been complied with to Morgan Stanley&#146;s reasonable satisfaction; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman" SIZE="2">(b) Shearman &amp; Sterling LLP, counsel for the Underwriters, shall have furnished to you their written opinion, dated such Time of Delivery,
substantially in a form reasonably satisfactory to you; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman" SIZE="2">(c)
Mello Jones &amp; Martin, Bermuda counsel for the Underwriters, shall have furnished to you their written opinion, dated such Time of Delivery, substantially in a form reasonably satisfactory to you; </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman" SIZE="2">(d) Appleby Spurling &amp; Kempe, Bermuda counsel for the Company, shall have
furnished to you their written opinion, dated such Time of Delivery, substantially in the form attached hereto as Annex I(a); </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman" SIZE="2">(e) Simpson Thacher &amp; Bartlett LLP, counsel for the Company, shall have furnished to you (i) their written opinion, dated such Time of Delivery,
substantially in the form attached hereto as Annex I(b)(i), and (ii) a letter, dated such Time of Delivery, substantially in the form attached hereto as Annex I(b)(ii); </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman" SIZE="2">(f) Allen &amp; Overy Luxembourg, Luxembourg counsel for SCA, shall have furnished to you their written opinion, dated such
Time of Delivery, substantially in the form attached hereto as Annex I(c); </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT
FACE="Times New Roman" SIZE="2">(g) Douglas G. Scrivner, General Counsel for the Company, shall have furnished to you (i) his written opinion, dated such Time of Delivery, substantially in the form attached hereto as Annex I(d)(i), and (ii) a letter
dated such Time of Delivery, substantially in the form attached hereto as Annex I(d)(ii); </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT
FACE="Times New Roman" SIZE="2">(h) In respect of the First Time of Delivery only, Clifford Chance LLP, U.K. counsel for the Company, shall have furnished you their written opinion, dated such Time of Delivery, substantially in the form attached
hereto as Annex I(e); </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman" SIZE="2">(i) In respect of the First Time of
Delivery only, Clifford Chance P&uuml;nder, Germany counsel for the Company, shall have furnished you their written opinion, dated such Time of Delivery, substantially in the form attached hereto as Annex I(f); </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">15 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman" SIZE="2">(j) In respect of the First Time of Delivery only, Clifford Chance Tanaka Akita &amp; Nakagawa, Japan
counsel for the Company, shall have furnished you their written opinion, dated such Time of Delivery, substantially in the form attached hereto as Annex I(g); </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman" SIZE="2">(k) On the date hereof and also at each Time of Delivery, PricewaterhouseCoopers LLP shall have furnished to you a letter or letters, dated the
respective dates of delivery thereof, in form and substance satisfactory to you, containing statements and information of the type customarily included in accountants&#146; comfort letters to underwriters with respect to the financial statements and
certain information contained or incorporated by reference in the Registration Statement and the Prospectus; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman" SIZE="2">(l) On the date hereof, and also at each Time of Delivery, KPMG LLP shall have furnished to you a letter or letters, dated the respective dates of
delivery thereof, in form and substance satisfactory to you, containing statements and information of the type customarily included in accountants&#146; comfort letters to underwriters with respect to the financial statements and certain information
contained or incorporated by reference in the Registration Statement and the Prospectus; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT
FACE="Times New Roman" SIZE="2">(m) (i) Neither the Company, SCA nor any of its subsidiaries shall have sustained since the date of the latest audited financial statements included or incorporated by reference in the Prospectus any loss or
interference with its business from fire, explosion, flood or other calamity, whether or not covered by insurance, or from any labor dispute or court or governmental action, order or decree, otherwise than as set forth or contemplated in the
Prospectus; and (ii) since the respective dates as of which information is given in the Registration Statement and the Prospectus, except as disclosed or contemplated in the Prospectus, or in connection with the Company&#146;s share incentive and
employee share purchase plans or the hiring, promotion, demotion, reassignment or termination of employees in the ordinary course of business, (A) there shall not have been any change in the share capital or capital stock, as the case may be, of the
Company or SCA, (B) there shall not have been any material increase in the consolidated long-term debt of the Company and (C) there shall not have been any adverse change in the capital stock of any of SCA&#146;s subsidiaries that is material to the
Company, SCA and its subsidiaries, taken as a whole, or any change, or any development involving a prospective change, in or affecting the business, management, financial position, shareholders&#146; equity or results of operations of the Company,
SCA and its subsidiaries, taken as a whole, the effect of which, in any such case described in clause (i) or (ii), is in the judgment of Morgan Stanley so material and adverse as to make it impracticable or inadvisable to proceed with the public
offering or the delivery of the Shares being delivered at such Time of Delivery on the terms and in the manner contemplated in the Prospectus; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman" SIZE="2">(n) On or after the date hereof there shall not have occurred any of the following: (i) a suspension or material limitation in trading in securities
generally on the Exchange; (ii) a suspension or material limitation in trading in the Company&#146;s securities on the Exchange; (iii) a general moratorium on commercial banking activities in New York or London declared by the relevant authorities
or a material disruption in commercial banking or securities settlement or clearance services in the United States; (iv) a change or development involving a prospective change in Bermuda taxation affecting the Company, the Shares or the transfer
thereof, or a prospective change in Luxembourg taxation affecting SCA, or the imposition of new exchange </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">16 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px">
<FONT FACE="Times New Roman" SIZE="2">controls by the United States, Bermuda or Luxembourg; (v) the outbreak or escalation of hostilities involving the United States, the United Kingdom or
Bermuda, or the declaration by the United States, the United Kingdom or Bermuda of a national emergency or war; or (vi) the occurrence of any other calamity or crisis or any material adverse change in the existing financial, political or economic
conditions in the United States, the United Kingdom or Bermuda or elsewhere which, in the judgment of Morgan Stanley would materially and adversely affect the financial markets or the market for the Shares and other equity securities, if the effect
of any such event specified in this Section 7(n) in the judgment of Morgan Stanley makes it impracticable or inadvisable to proceed with the public offering or the delivery of the Shares being delivered at such Time of Delivery on the terms and in
the manner contemplated in the Prospectus; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman" SIZE="2">(o) The Shares at
such Time of Delivery shall have been duly listed, or duly listed subject to notice of issuance, on the Exchange; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman" SIZE="2">(p) The Company has executed and delivered to you an agreement that it will not waive or amend the share transfer restrictions imposed pursuant to the
provisions of paragraph (b) of Section 2.3 of the Voting Agreement, or a substantially similar provision in any other agreement, without the written consent of Morgan Stanley (the <B>&#147;Lock-Up Agreement&#148;</B>); </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman" SIZE="2">(q) The Company shall have imposed the share transfer restrictions pursuant
to the provisions of paragraph (b) of Section 2.3 of the Voting Agreement, or a substantially similar provision in any other agreement, on the terms and conditions set forth in the notice attached as Annex A of the Lock-Up Agreement; </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman" SIZE="2">(r) The Partners Representatives, as such term is defined in the Voting
Agreement, shall have waived the transfer restrictions in Section 2.1 of the Voting Agreement with respect to the transactions contemplated hereby and such waiver shall be in full force and effect; </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman" SIZE="2">(s) The Company shall have approved in writing the sale of the Shares by the
Selling Shareholders party to the Common Agreement; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman" SIZE="2">(t) The
Company shall have complied with the provisions of Section 5(c) hereof with respect to the furnishing of prospectuses; and </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman" SIZE="2">(u) The Company and, in respect of the First Time of Delivery only, the Attorneys-in-Fact, on behalf of the Selling Shareholders, shall have furnished or
caused to be furnished to you at such Time of Delivery certificates of officers of the Company and of the Selling Shareholders, respectively, satisfactory to you as to the accuracy of the representations and warranties of the Company and the Selling
Shareholders, respectively, herein at and as of such Time of Delivery, as to the performance by the Company and the Selling Shareholders of all of their respective obligations hereunder to be performed at or prior to such Time of Delivery, and as to
such other matters as you may reasonably request, and the Company shall have furnished or caused to be furnished certificates as to the matters set forth in subsections (a) and (m) of this Section. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">17 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">8. (a) Each of the Company and SCA, jointly and severally, will indemnify and hold harmless each
Underwriter against any losses, claims, damages or liabilities, joint or several, to which such Underwriter may become subject, under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect
thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in any Preliminary Prospectus, the Registration Statement, the Prospectus, or any amendment or supplement thereto, or arise out of
or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse each Underwriter for any legal or other expenses
reasonably incurred by such Underwriter in connection with investigating or defending any such action or claim as such expenses are incurred; <I>provided</I>, <I>however</I>, that neither the Company nor SCA shall be liable in any such case to the
extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in any Preliminary Prospectus, the Registration Statement, the Prospectus or
any such amendment or supplement in reliance upon and in conformity with information furnished in writing to the Company by any Underwriter through Morgan Stanley expressly for use therein. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman" SIZE="2">(b) Each Selling Shareholder, severally and not jointly, will indemnify and
hold harmless each Underwriter against any losses, claims, damages or liabilities, joint or several, to which such Underwriter may become subject, under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or
actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in any Preliminary Prospectus, the Registration Statement, the Prospectus, or any amendment or supplement
thereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, in each case to the extent, but only to the
extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in any Preliminary Prospectus, the Registration Statement, the Prospectus or any such amendment or supplement in reliance upon and in conformity
with information in writing furnished to the Company by such Selling Shareholder expressly for use therein; and will reimburse each Underwriter for any legal or other expenses reasonably incurred by such Underwriter in connection with investigating
or defending any such action or claim as such expenses are incurred; <I>provided</I>, <I>however</I>, that the liability of a Selling Shareholder pursuant to this subsection (b) shall not exceed the amount of net proceeds received by such Selling
Shareholder from the sale of its Shares pursuant to this Agreement. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman"
SIZE="2">(c) Each Underwriter will indemnify and hold harmless the Company, SCA and each Selling Shareholder against any losses, claims, damages or liabilities to which the Company, SCA or such Selling Shareholder may become subject, under the
Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in any Preliminary
Prospectus, the Registration Statement, the Prospectus, or any amendment or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make
the statements therein not misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in any Preliminary Prospectus, the Registration Statement, the
Prospectus or any such amendment or </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">18 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px">
<FONT FACE="Times New Roman" SIZE="2">supplement in reliance upon and in conformity with information in writing furnished to the Company by such Underwriter through Morgan Stanley expressly for
use therein; and will reimburse the Company, SCA and each Selling Shareholder for any legal or other expenses reasonably incurred by the Company, SCA or such Selling Shareholder in connection with investigating or defending any such action or claim
as such expenses are incurred. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman" SIZE="2">(d) Promptly after receipt by
an indemnified party under subsection (a), (b) or (c) above of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party under such subsection, notify the
indemnifying party in writing of the commencement thereof; but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to any indemnified party otherwise than under such subsection. In case any such
action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate therein and, to the extent that it shall wish, jointly with any
other indemnifying party similarly notified, to assume the defense thereof, with counsel satisfactory to such indemnified party (who shall not, except with the consent of the indemnified party, be counsel to the indemnifying party), and, after
notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof, the indemnifying party shall not be liable to such indemnified party under such subsection for any legal expenses of other counsel or any
other expenses, in each case subsequently incurred by such indemnified party, in connection with the defense thereof other than reasonable costs of investigation. If the indemnifying party does not assume the defense of such action, it is understood
that the indemnifying party shall not, in connection with any one such action or separate but substantially similar or related actions in the same jurisdiction arising out of the same general allegations or circumstances, be liable for the fees and
expenses of more than one separate firm of attorneys (in addition to one separate firm of local attorneys in each such jurisdiction) at any time for all such indemnified parties, which firms shall be designated in writing by Morgan Stanley, if the
indemnified parties under this Section consist of any Underwriter or any of their respective controlling persons, or by the Company or SCA, if the indemnified parties under this Section consist of the Company or SCA or any of the Company&#146;s or
SCA&#146;s directors, officers or controlling persons, or by the Attorneys-in-Fact, if the indemnified parties under this Section consist of any Selling Shareholder. The indemnifying party shall not be liable for any settlement of an action or claim
for monetary damages which an indemnified party may effect without the consent of the indemnifying party, which consent shall not be unreasonably withheld. No indemnifying party shall, without the written consent of the indemnified party, effect the
settlement or compromise of, or consent to the entry of any judgment with respect to, any pending or threatened action or claim in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified party is an
actual or potential party to such action or claim) unless such settlement, compromise or judgment (i) includes an unconditional release of the indemnified party from all liability arising out of such action or claim and (ii) does not include a
statement as to or an admission of fault, culpability or a failure to act, by or on behalf of any indemnified party. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman" SIZE="2">(e) If the indemnification provided for in this Section 8 is unavailable to or insufficient to hold harmless an indemnified party under subsection (a),
(b) or (c) above in respect of any losses, claims, damages or liabilities (or actions in respect thereof) referred to therein, then each indemnifying party shall contribute to the amount paid or payable by such </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">19 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px">
<FONT FACE="Times New Roman" SIZE="2">indemnified party as a result of such losses, claims, damages or liabilities (or actions in respect thereof) in such proportion as is appropriate to reflect
the relative benefits received by the Company, SCA and the Selling Shareholders on the one hand and the Underwriters on the other from the offering of the Shares. If, however, the allocation provided by the immediately preceding sentence is not
permitted by applicable law or if the indemnified party failed to give the notice required under subsection (d) above, then each indemnifying party shall contribute to such amount paid or payable by such indemnified party in such proportion as is
appropriate to reflect not only such relative benefits but also the relative fault of the Company, SCA and the Selling Shareholders on the one hand and the Underwriters on the other in connection with the statements or omissions which resulted in
such losses, claims, damages or liabilities (or actions in respect thereof), as well as any other relevant equitable considerations. The relative benefits received by the Company, SCA and the Selling Shareholders on the one hand and the Underwriters
on the other shall be deemed to be in the same proportion as the total net proceeds from the offering of the Shares purchased under this Agreement (before deducting expenses) received by the Company, SCA and/or the Selling Shareholders bear to the
total underwriting discounts and commissions received by the Underwriters with respect to the Shares purchased under this Agreement, in each case as set forth in the table on the cover page of the Prospectus. The relative fault shall be determined
by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company, SCA or the Selling Shareholders on
the one hand or the Underwriters on the other and the parties&#146; relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company, SCA, each of the Selling Shareholders and the
Underwriters agree that it would not be just and equitable if contributions pursuant to this subsection (e) were determined by <I>pro rata</I> allocation (even if the Underwriters were treated as one entity for such purpose) or by any other method
of allocation which does not take account of the equitable considerations referred to above in this subsection (e). The amount paid or payable by an indemnified party as a result of the losses, claims, damages or liabilities (or actions in respect
thereof) referred to above in this subsection (e) shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the
provisions of this subsection (e), no Underwriter shall be required to contribute any amount in excess of the amount by which the total price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the
amount of any damages which such Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section
11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The Underwriters&#146; obligations in this subsection (e) to contribute are several in proportion to their
respective underwriting obligations and not joint. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman" SIZE="2">(f) The
obligations of the Company, SCA and the Selling Shareholders under this Section 8 shall be in addition to any liability which the Company, SCA and the Selling Shareholders may otherwise have and shall extend, upon the same terms and conditions, to
each person, if any, who controls any Underwriter within the meaning of the Securities Act; and the obligations of the Underwriters under this Section 8 shall be in addition to any liability which the respective Underwriters may otherwise have and
shall extend, upon the same terms and conditions, to each officer and director of the Company (including any person who, with his or </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">20 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px">
<FONT FACE="Times New Roman" SIZE="2">her consent, is named in the Registration Statement as about to become a director of the Company) and of SCA and to each person, if any, who controls the
Company, SCA or any Selling Shareholder within the meaning of the Securities Act. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT
FACE="Times New Roman" SIZE="2">9. (a) If any Underwriter shall default in its obligation to purchase the Shares which it has agreed to purchase hereunder at a Time of Delivery, you may in your discretion arrange for you or another party or other
parties to purchase such Shares on the terms contained herein. If within thirty-six hours after such default by any Underwriter you do not arrange for the purchase of such Shares, then the Company and the Selling Shareholders shall be entitled to a
further period of thirty-six hours within which to procure another party or other parties satisfactory to you to purchase such Shares on such terms. In the event that, within the respective prescribed periods, you notify the Company and the
Attorneys-in-Fact that you have so arranged for the purchase of such Shares, or the Company and the Selling Shareholders notify you that they have so arranged for the purchase of such Shares, you or the Company and the Selling Shareholders shall
have the right to postpone such Time of Delivery for a period of not more than seven days in order to effect whatever changes may thereby be made necessary in the Registration Statement or the Prospectus, or in any other documents or arrangements,
and the Company agrees to file promptly any amendments to the Registration Statement or the Prospectus which in the opinion of Shearman &amp; Sterling LLP, U.S. counsel for the Underwriters, and Simpson Thacher &amp; Bartlett LLP, U.S. counsel for
the Company, may thereby be made necessary. The term <B>&#147;Underwriter&#148;</B> as used in this Agreement shall include any person substituted under this Section with like effect as if such person had originally been a party to this Agreement
with respect to such Shares. Nothing herein shall relieve a defaulting Underwriter from liability for its default. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman" SIZE="2">(b) If, after giving effect to any arrangements for the purchase of the Shares of a defaulting Underwriter or Underwriters by you and the Company and the
Selling Shareholders as provided in subsection (a) above, the aggregate number of such Shares which remains unpurchased does not exceed one-eleventh of the aggregate number of all the Shares to be purchased at such Time of Delivery, then the Company
and the Selling Shareholders shall have the right to require each non-defaulting Underwriter to purchase the number of Shares which such Underwriter agreed to purchase hereunder at such Time of Delivery and, in addition, to require each
non-defaulting Underwriter to purchase its pro rata share (based on the number of Shares which such Underwriter agreed to purchase hereunder) of the Shares of such defaulting Underwriter or Underwriters for which such arrangements have not been
made; but nothing herein shall relieve a defaulting Underwriter from liability for its default. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:9%"><FONT FACE="Times New Roman" SIZE="2">(c) If, after giving effect to any arrangements for the purchase of the Shares of a defaulting Underwriter or Underwriters by you and the Company and the
Selling Shareholders as provided in subsection (a) above, the aggregate number of such Shares which remains unpurchased exceeds one-eleventh of the aggregate number of all the Shares to be purchased at such Time of Delivery, or if the Company and
the Selling Shareholders shall not exercise the right described in subsection (b) above to require non-defaulting Underwriters to purchase Shares of a defaulting Underwriter or Underwriters, then this Agreement (or, with respect to the Second Time
of Delivery, the obligations of the Underwriters to purchase and of the Company to sell the Optional Shares) shall thereupon terminate, without liability on the part of any non-defaulting Underwriter or the Company, SCA or the Selling Shareholders,
except for the expenses to be borne by the Company, SCA and the Underwriters as provided in Section 6 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">21 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px">
<FONT FACE="Times New Roman" SIZE="2">hereof and the indemnity and contribution agreements in Section 8 hereof; but nothing herein shall relieve a defaulting Underwriter from liability for its
default. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">10. The respective indemnities, agreements,
representations, warranties and other statements of the Company, SCA, the Selling Shareholders and the several Underwriters, as set forth in this Agreement or made by or on behalf of them, respectively, pursuant to this Agreement, shall remain in
full force and effect, regardless of any investigation (or any statement as to the results thereof) made by or on behalf of any Underwriter or any controlling person of any Underwriter, or the Company or SCA, or any officer or director or
controlling person of the Company or SCA, or any of the Selling Shareholders, or any officer or director or controlling person of any Selling Shareholder, and shall survive delivery of and payment for the Shares. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">11. If this Agreement shall be terminated pursuant to Section 9 hereof or as
a result of the failure to satisfy the conditions set forth in clauses (i) and (iii) through (vi) of Section 7(n) hereof, none of the Company, SCA or the Selling Shareholders shall then be under any liability to any Underwriter except as provided in
Sections 6 and 8 hereof, but, if for any other reason, any Shares are not delivered by or on behalf of the Company and the Selling Shareholders as provided herein, the Company and SCA, jointly and severally, will reimburse the Underwriters through
you for all out-of-pocket expenses approved in writing by you, including fees and disbursements of counsel, reasonably incurred by the Underwriters in making preparations for the purchase, sale and delivery of the Shares not so delivered, but the
Company, SCA and the Selling Shareholders shall then be under no further liability to any Underwriter in respect of the Shares not so delivered except as provided in Sections 6 and 8 hereof. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">12. In all dealings hereunder, Morgan Stanley shall act on behalf of each of
the Underwriters, and the parties hereto shall be entitled to act and rely upon any statement, request, notice or agreement on behalf of any Underwriter made or given by Morgan Stanley; and in all dealings with any Selling Shareholder hereunder, you
shall be entitled to act and rely upon any statement, request, notice or agreement on behalf of such Selling Shareholder made or given by any or all of the Attorneys-in-Fact for such Selling Shareholder. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">All statements, requests, notices and agreements hereunder shall be in
writing, and if to the Underwriters shall be delivered or sent by mail, telex or facsimile transmission to Morgan Stanley &amp; Co. Incorporated, 1585 Broadway, New York, New York 10036, Attention: Registration Department; if to the Company or to
SCA shall be delivered or sent by mail, telex or facsimile transmission to the address of the Company set forth in the Registration Statement, Attention: General Counsel, with a copy to 1661 Page Mill Road, Palo Alto, California 94304, Attention:
General Counsel; and if to the Selling Shareholders shall be delivered or sent by mail, telex or facsimile transmission to the Attorneys-in-Fact in care of Accenture Ltd, 1661 Page Mill Road, Palo Alto, California 94304, Attention: General Counsel;
<I>provided</I>, <I>however</I>, that any notice to an Underwriter pursuant to Section 8(d) hereof shall be delivered or sent by mail, telex or facsimile transmission to such Underwriter at its address set forth in its Underwriters&#146;
Questionnaire, or telex constituting such Questionnaire, which address will be supplied to the Company by Morgan Stanley upon request. Any such statements, requests, notices or agreements shall take effect at the time of receipt thereof. </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">22 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">13. This Agreement shall be binding upon, and inure solely to the benefit of, the Underwriters, the
Company, SCA and the Selling Shareholders and, to the extent provided in Sections 8 and 10 hereof, the officers and directors of the Company, SCA and each person who controls the Company, SCA, any Selling Shareholder or any Underwriter, and their
respective heirs, executors, administrators, successors and assigns, and no other person shall acquire or have any right under or by virtue of this Agreement. No purchaser of any of the Shares from any Underwriter shall be deemed a successor or
assign by reason merely of such purchase. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">14. Each of the
parties hereto irrevocably (i) agrees that any legal suit, action or proceeding arising out of or based upon this Agreement or the transactions contemplated hereby may be instituted in any state or federal court located in the Borough of Manhattan,
The City of New York, New York (each, a <B>&#147;New York Court&#148;</B>), (ii) waives, to the fullest extent it may effectively do so, any objection which it may now or hereafter have to the laying of venue of any such proceeding and (iii) submits
to the exclusive jurisdiction of such courts in any such suit, action or proceeding. Each of the Company and SCA and each Selling Shareholder irrevocably waives any immunity to jurisdiction to which it may otherwise be entitled or become entitled
(including sovereign immunity, immunity to pre-judgment attachment, post judgment attachment and execution) in any legal suit, action or proceeding against it arising out of or based on this Agreement or the transactions contemplated hereby which is
instituted in any New York Court or in any competent court in Bermuda or Luxembourg. Each of the Company and SCA and each Selling Shareholder has appointed the General Counsel of the Company, 1345 Avenue of the Americas, 13th Floor, New York, New
York 10105, as its authorized agent (the <B>&#147;Authorized Agent&#148;</B>) upon whom process may be served in any such action arising out of or based on this Agreement or the transactions contemplated hereby which may be instituted in any New
York Court by any Underwriter or by any person who controls any Underwriter, expressly consents to the jurisdiction of any such court in respect of any such action, and waives any other requirements of or objections to personal jurisdiction with
respect thereto. Such appointments shall be irrevocable. Each of the Company and SCA and each Selling Shareholder represents and warrants that the Authorized Agent has agreed to act as such agent for service of process and agrees to take any and all
action, including the filing of any and all documents and instruments, that may be necessary to continue such appointment in full force and effect as aforesaid. Service of process upon the Authorized Agent and written notice of such service to the
Company, SCA or the Selling Shareholder, as the case may be, shall be deemed, in every respect; effective service of process upon the Company, SCA or such Selling Shareholder, as the case may be. A copy of any such process shall also be delivered to
the General Counsel of the Company, 1661 Page Mill Road, Palo Alto, California 94304. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT
FACE="Times New Roman" SIZE="2">15. In respect of any judgment or order given or made for any amount due hereunder that is expressed and paid in a currency (the <B>&#147;judgment currency&#148;</B>) other than United States dollars, the Company, SCA
and the Selling Shareholders, as the case may be, will indemnify each Underwriter against any loss incurred by such Underwriter as a result of any variation as between (i) the rate of exchange at which the United States dollar amount is converted
into the judgment currency for the purpose of such judgment or order and (ii) the rate of exchange at which an Underwriter is able to purchase United States dollars with the amount of the judgment currency on the date the judgment currency is
actually received by such Underwriter. The foregoing indemnity shall constitute a separate and independent obligation of each of the Company and SCA and each Selling Shareholder and shall continue in full force and effect </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">23 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px">
<FONT FACE="Times New Roman" SIZE="2">notwithstanding any such judgment or order as aforesaid. The term <B>&#147;rate of exchange&#148;</B> shall include any premiums and costs of exchange
payable in connection with the purchase of or conversion into United States dollars. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT
FACE="Times New Roman" SIZE="2">16. Time shall be of the essence of this Agreement. As used herein, the term <B>&#147;business day&#148;</B> shall mean any day when the Commission&#146;s office in Washington, D.C. is open for business.<B></B>
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><B>17. This Agreement shall be governed by and construed in
accordance with the laws of the State of New York. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">18.
This Agreement may be executed by any one or more of the parties hereto in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts shall together constitute one and the same instrument. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">19. The Company, SCA and the Selling Shareholders are authorized, subject to
applicable law, to disclose any and all aspects of this potential transaction that are necessary to support any tax benefits expected to be claimed with respect to such transaction, without the Underwriters imposing any limitation of any kind.
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">24 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">If the foregoing is in accordance with your understanding, please sign and return to us eight
counterparts hereof, and upon the acceptance hereof by you, on behalf of each of the Underwriters, this letter and such acceptance hereof shall constitute a binding agreement among each of the Underwriters, the Company, SCA and the Selling
Shareholders. It is understood that your acceptance of this letter on behalf of each of the Underwriters is pursuant to the authority set forth in a form of Agreement among Underwriters, the form of which shall be submitted to the Company for
examination upon request, but without warranty on your part as to the authority of the signers thereof. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">Any person executing and delivering this Agreement as Attorney-in-Fact for a Selling Shareholder represents by so doing that he has been duly appointed as
Attorney-in-Fact by such Selling Shareholder pursuant to a validly existing and binding Power of Attorney which authorizes such Attorney-in-Fact to take such action. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:62%; text-indent:-2%"><FONT FACE="Times New Roman" SIZE="2">Very truly yours, </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0">

<TR>
<TD VALIGN="top" COLSPAN="5" WIDTH="74%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">ACCENTURE LTD</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="middle" WIDTH="7%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3" WIDTH="74%"> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"></TD></TR>
<TR>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3" WIDTH="74%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Name:</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3" WIDTH="74%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Title:</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="5" WIDTH="74%"><FONT FACE="Times New Roman" SIZE="2">ACCENTURE SCA, represented by its general partner, Accenture Ltd, itself represented by its duly authorized signatory</FONT></TD></TR>
<TR>
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="5" WIDTH="74%"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="5" WIDTH="74%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Name:</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="5" WIDTH="74%"><FONT FACE="Times New Roman" SIZE="2">Selling Shareholders Listed on Schedule II hereto</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="middle" WIDTH="7%"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3" WIDTH="74%"> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"></TD></TR>
<TR>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="15%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Name:</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3" WIDTH="74%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Title: Attorney-in-Fact</FONT></P></TD></TR>
</TABLE></DIV> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">S-1 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Accepted as of the date hereof: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Morgan Stanley &amp; Co. Incorporated<I> </I></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">J.P. Morgan Securities Inc.
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Credit Suisse First Boston LLC </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">UBS Securities LLC </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Banc of America Securities LLC </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Citigroup Global Markets Inc. </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Deutsche Bank Securities Inc. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Merrill Lynch, Pierce, Fenner &amp; Smith
Incorporated </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Goldman, Sachs &amp; Co. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">SG Cowen Securities
Corporation </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Wachovia Capital Markets, LLC </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Lehman Brothers
Inc. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Needham &amp; Company, Inc. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">SoundView Technology
Corporation </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Bear, Stearns &amp; Co. Inc. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">ABN AMRO Rothschild
LLC </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Cazenove &amp; Co. Ltd </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Robert W. Baird &amp; Co.
Incorporated </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Legg Mason Wood Walker, Incorporated </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Scotia
Capital (USA) Inc. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Pacific Growth Equities, LLC </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0">

<TR>
<TD VALIGN="bottom" WIDTH="7%"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="91%"> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Morgan Stanley &amp; Co.
Incorporated</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="7%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="91%"> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"></TD></TR>
<TR>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="91%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Name:</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="91%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Title:</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3" WIDTH="91%"><FONT FACE="Times New Roman" SIZE="2">For themselves and on behalf of the several Underwriters named in Schedule I hereto</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">S-2 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>SCHEDULE I </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="90%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">

<TR>
<TD VALIGN="bottom" WIDTH="62%"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="1"><B>Underwriter</B></FONT></P><HR WIDTH="74" SIZE="1" NOSHADE ALIGN="left" COLOR="#000000"></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>Number&nbsp;of&nbsp;Firm<BR>Shares to be<BR>Purchased</B></FONT><BR><HR SIZE="1" NOSHADE COLOR="#000000"></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>Number&nbsp;of&nbsp;Optional<BR>Shares to be<BR>Purchased if<BR>Maximum Option<BR>Exercised</B></FONT><BR><HR SIZE="1" NOSHADE COLOR="#000000"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" WIDTH="62%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Morgan Stanley &amp; Co. Incorporated</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">23,862,000</FONT></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">3,579,300</FONT></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="62%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">J.P. Morgan Securities Inc.</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">7,158,600</FONT></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">1,073,790</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" WIDTH="62%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Credit Suisse First Boston LLC</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">7,158,600</FONT></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">1,073,790</FONT></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="62%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">UBS Securities LLC</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">7,158,600</FONT></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">1,073,790</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" WIDTH="62%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Banc of America Securities LLC</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">3,181,600</FONT></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">477,240</FONT></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="62%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Citigroup Global Markets Inc.</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">3,181,600</FONT></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">477,240</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" WIDTH="62%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Deutsche Bank Securities Inc.</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">3,181,600</FONT></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">477,240</FONT></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="62%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">3,181,600</FONT></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">477,240</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" WIDTH="62%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Goldman, Sachs &amp; Co.</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">3,181,600</FONT></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">477,240</FONT></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="62%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">SG Cowen Securities Corporation</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">3,181,600</FONT></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">477,240</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" WIDTH="62%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Wachovia Capital Markets, LLC</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">3,181,600</FONT></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">477,240</FONT></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="62%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Lehman Brothers Inc.</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">1,590,800</FONT></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">238,620</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" WIDTH="62%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Needham &amp; Company, Inc.</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">1,590,800</FONT></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">238,620</FONT></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="62%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">SoundView Technology Corporation</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">1,590,800</FONT></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">238,620</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" WIDTH="62%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Bear, Stearns &amp; Co. Inc.</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">1,590,800</FONT></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">238,620</FONT></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="62%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">ABN AMRO Rothschild LLC</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">1,590,800</FONT></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">238,620</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" WIDTH="62%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Cazenove &amp; Co. Ltd</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">795,400</FONT></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">119,310</FONT></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="62%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Robert W. Baird &amp; Co. Incorporated</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">795,400</FONT></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">119,310</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" WIDTH="62%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Legg Mason Wood Walker, Incorporated</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">795,400</FONT></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">119,310</FONT></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="62%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Scotia Capital (USA) Inc.</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">795,400</FONT></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">119,310</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" WIDTH="62%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Pacific Growth Equities, LLC</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">795,400</FONT></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">119,310</FONT></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="62%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">M.R. Beal &amp; Company</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">410,000</FONT></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">61,500</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" WIDTH="62%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Chatsworth Securities LLC</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">410,000</FONT></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">61,500</FONT></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="62%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">A.G. Edwards &amp; Sons, Inc.</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">410,000</FONT></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">61,500</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" WIDTH="62%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Edward D. Jones &amp; Co., L.P.</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">410,000</FONT></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">61,500</FONT></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="62%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Punk, Ziegel &amp; Company, L.P.</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">410,000</FONT></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">61,500</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" WIDTH="62%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Thomas Weisel Partners LLC</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">410,000</FONT></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">61,500</FONT></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><HR SIZE="1" NOSHADE COLOR="#000000"></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><HR SIZE="1" NOSHADE COLOR="#000000"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top" WIDTH="62%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Total</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">82,000,000</FONT></TD>
<TD VALIGN="bottom" WIDTH="9%" ><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right" WIDTH="10%"><FONT FACE="Times New Roman" SIZE="2">12,300,000</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
</BODY></HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.2
<SEQUENCE>4
<FILENAME>dex52.htm
<DESCRIPTION>OPINION OF APPLEBY SPURLING & KEMPE.
<TEXT>
<HTML><HEAD>
<TITLE>Opinion of Appleby Spurling &amp; Kempe.</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2"><B>Exhibit 5.2 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT
SIZE="1">&nbsp;</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">

<TR>
<TD VALIGN="top" ALIGN="center" WIDTH="22%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Ian Stone</B></FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="24%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">IS/df/124151-39</FONT></P></TD></TR>
<TR>
<TD VALIGN="top" ALIGN="center" WIDTH="22%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Counsel</B></FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="24%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Direct phone: 441-298-3233</FONT></P></TD></TR>
<TR>
<TD VALIGN="top" ALIGN="center" WIDTH="22%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Company&nbsp;Department</B></FONT></P></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="24%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Direct e-mail: <U>istone@ask.bm</U></FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="24%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Direct Fax: 441-298-3489</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="2%" ><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="24%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">23 September 2003</FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Accenture Ltd </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Cedar House </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">41 Cedar Avenue </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Hamilton HM12 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Bermuda </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Dear Sirs </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B><U>Accenture Ltd (the &#147;Company&#148;)</U> </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">We have acted as legal counsel in Bermuda to the Company in connection with the proposed offering (the <B>&#147;Offering&#148;</B>) of up to
94,300,000 Class A common shares of par value US$0.0000225 each in the Company (<B>&#147;Class A Common Shares&#148;</B>), 24,605,405 of which are to be sold by certain selling shareholders (the <B>&#147;Selling Shareholders&#148;</B>) and
57,394,595 of which (or 64,694,595 if the underwriters over-allotment option referred to in the Registration Statement is exercised) are to be offered and issued and sold by the Company pursuant to the registration statement on Form S-3
(Registration No. 333-104628), the prospectus dated 12 September 2003 and the related prospectus supplement dated 23 September 2003, filed by the Company with the United States Securities and Exchange Commission. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">The aggregate of up to 69,694,595 Class A Common Shares being issued and sold by the Company
are collectively referred to as the <B>&#147;Company Shares.&#148;</B> </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">For the
purposes of this opinion we have examined and relied upon the documents listed (which, in some cases, are also defined) in the Schedule to this opinion (the <B>&#147;Documents&#148;</B>). </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B><U>Assumptions</U> </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">In stating our opinion we have assumed: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">(a)</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">the authenticity, accuracy and completeness of all Documents (including, without limitation, public records) submitted to us as originals and the conformity to authentic original
Documents of all Documents submitted to us as certified, electronic or photostatic copies; </FONT></TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">(b)</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">the genuineness of all signatures on the Documents; </FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">(c)</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">the authority, capacity and power of each of the persons signing the Documents (other than directors or officers of the Company); </FONT></TD></TR></TABLE> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">(d)</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">that any factual statements made in any of the Documents are true, accurate and complete; </FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT
SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">(e)</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">that there are no provisions of the laws or regulations of any jurisdiction other than Bermuda which would have any implication in relation to these opinions;
</FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">(f)</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">that the records which were the subject of the search made on 23 September 2003 of the Register of Companies at the office of the Registrar of Companies referred to in paragraph 8
of the Schedule to this opinion were complete and accurate at the time of such search and disclosed all information which is material for the purposes of this opinion and such information has not since such date been materially altered;
</FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">(g)</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">that the Resolutions are in full force and effect, have not been rescinded, either in whole or in part, and accurately record the resolutions passed by the board of directors, board
committee or shareholders of the Company (as applicable) in meetings which were duly convened and at which a duly constituted quorum was present and voting throughout or by written resolution signed by all of the board members, board committee
members or shareholders (as applicable) at the relevant time and that there is or was, at the relevant time of allotment, no matter affecting the authority of the directors or relevant committee members to issue and allot the Company Shares, not
disclosed by the Constitutional Documents or the Resolutions, which would have any adverse implication in relation to the opinions expressed in this opinion; </FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT
SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">(h)</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">that, when the directors of the Company passed those of the Resolutions which are directors&#146; resolutions, each of the directors discharged his fiduciary duties to the Company
and acted honestly and in good faith with a view to the best interests of the Company; </FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">(i)</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">that, immediately prior to its continuance into Bermuda on 21 February 2001, Accenture N.V. was a company limited by shares registered and existing under the laws of the Netherlands
Antilles, with an authorised share capital of US$30,000 divided into 30,000 shares of par value US$1.00 each, of which 16,000 shares were in issue, fully-paid and held jointly by Vernon J. Ellis, Michael G. McGrath, Karl-Heinz Fl&ouml;ther, Joe W.
Forehand, Stephan A. James and David Hunter as the general partners of Accenture Holdings C.V.; and </FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">(j)</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">that the Prospectus has been approved by an &#147;Authorised Officer&#148; (as authorised in the Resolution referred to in paragraph 4.3 of the Schedule to this opinion).
</FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>Opinion </B></FONT></P> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Based upon and subject to the foregoing, and subject to the reservations set out below and
to any matters not disclosed to us, we are of the opinion that: </FONT></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">(1)</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">The Company is an exempted company incorporated with limited liability and existing under the laws of Bermuda and is in good standing under the laws of Bermuda.
</FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">(2)</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">The Company Shares have been duly created as authorised but unissued Class A Common Shares and, when issued and allotted, and paid for, as contemplated by the Registration Statement
and the Prospectus, will be duly authorised, validly issued, fully-paid and non-assessable Class A Common Shares of the Company. </FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B><U>Reservations</U> </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
FACE="Times New Roman" SIZE="2">We have the following reservations: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">(a)</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">We express no opinions as to any law other than Bermuda law and none of the opinions expressed in this opinion relates to compliance with or matters governed by the laws of any
jurisdiction except Bermuda. This opinion is limited to Bermuda law as applied by the courts of Bermuda at the date of this opinion. </FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">(b)</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Any reference in this opinion to shares being &#147;non-assessable&#148; shall mean, in relation to fully-paid Class A Common Shares, (subject to any contrary provision in any
agreement between the Company and the holders of such shares) that no holder of such Class A Common Shares shall be bound by an alteration of the memorandum of continuance or bye-laws of the Company after the date on which he became a shareholder,
if and so far as the alteration requires him to take, or subscribe for, additional shares, or in any way increases his liability to contribute to the share capital of, or otherwise to pay money to, the Company. </FONT></TD></TR></TABLE> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">(c)</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Searches of the Register of Companies at the office of the Registrar of Companies are not conclusive and it should be noted that the Register of Companies does not reveal:
</FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">(i)</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">details of matters which have been lodged for filing or registration which as a matter of general practice of the Registrar of Companies would have or should have been disclosed on
the public file but have not actually been registered, or to the extent that they have been registered have not been disclosed or do not appear in the public records at the date and time the search is concluded; or </FONT></TD></TR></TABLE> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">(ii)</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">details of matters which should have been lodged for registration but have not been lodged for registration at the date the search is concluded. </FONT></TD></TR></TABLE> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">(d)</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">In order to issue this opinion we have carried out the search referred to in paragraph 8 of the Schedule to this opinion at 9:00 am on 23 September 2003 and have not enquired as to
whether there has been any change since that time and date. </FONT></TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">(e)</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">In this opinion, the term &#147;good standing&#148; means only that the Company has received a certificate of compliance from the Registrar of Companies in Hamilton, Bermuda.
</FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">(f)</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">We have relied upon the contents of the document referred to in paragraph 7 of the schedule to this opinion for the purposes of this opinion. We have made no independent
verification of the matters stated in that document and we qualify this opinion to the extent that the statements made in that document are not accurate in any respect. </FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT
SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">(g)</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">This opinion relates only to the Company Shares to be issued and sold by the Company in the Offering and does not relate to the Class A Common Shares to be sold by the Selling
Shareholders in the Offering. </FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B><U>Disclosure</U>
</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">This opinion is issued in connection with the Offering pursuant to the
Registration Statement. We consent to the filing of this opinion as an exhibit to the Registration Statement. We also consent to the reference to our name under the heading &#147;Legal Matters&#148; in the Registration Statement in the form in which
it appears. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">This opinion is given as of its date and is strictly limited to
the matters stated in it and we assume no obligation to review or update this opinion if applicable law or the existing facts or circumstances should change. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">This opinion is governed by and is to be construed in accordance with Bermuda law. It is given on the basis that it will not give rise to any legal proceedings with
respect to it in any jurisdiction other than Bermuda. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Yours faithfully
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>APPLEBY SPURLING &amp; KEMPE </B></FONT></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B><U>THE SCHEDULE</U> </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">1.</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">An electronic copy of amendment number 2 of a registration statement (as amended - which includes a prospectus in relation to the Company, excluding the exhibits to it and the
documents incorporated by reference in it) filed by the Company in connection with the Offering with the Securities and Exchange Commission on 20 August 2003 (the &#147;<B>Registration Statement</B>&#148;). </FONT></TD></TR></TABLE> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">2.</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Electronic copies of the prospectus dated 12 September 2003 and of the prospectus supplement dated 23 September 2003 issued by the Company in connection with the Offering (together,
the &#147;<B>Prospectus</B>&#148;). </FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">3.</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Certified copies dated 23 September 2003 of:- </FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">3.1 the certificate of continuance of the Company; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">3.2 the memorandum of continuance of the Company; and </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">3.3 the bye-laws of the Company, </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">(together, the &#147;<B>Constitutional Documents</B>&#148;). </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">4.</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Certified copies dated 23 September 2003 of:- </FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">4.1</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">written resolutions of the sole shareholder of the Company passed on 12 April 2001; </FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT
SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">4.2</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">minutes of a special general meeting of the shareholder of the Company held on 9 May 2001 (together with a signed form of consent dated 18 May 2001); </FONT></TD></TR></TABLE> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">4.3</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">certain resolutions relating to the Registration Statement passed at a meeting of the board of directors of the Company held on 10 April 2003; </FONT></TD></TR></TABLE> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">4.4</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">written resolutions of the board of directors of the Company relating to the Offering passed on 15 September 2003; and </FONT></TD></TR></TABLE> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">4.5</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">written resolutions of the pricing committee of the board of directors of the Company passed on 23 September 2003, </FONT></TD></TR></TABLE> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">(together, the &#147;<B>Resolutions</B>&#148;). </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">5.</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">An electronic copy of an executed underwriting agreement dated 23 September 2003 relating to the Offering entered into by the Company, Accenture SCA, </FONT></TD></TR></TABLE> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P>
<FONT FACE="Times New Roman" SIZE="2">the Underwriters named in Schedule I thereto and the Selling Shareholders named in Schedule II thereto. </FONT></P></TD></TR></TABLE> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">6.</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">A copy of a letter dated 25 June 2001 evidencing the consent of the Bermuda Monetary Authority to the issue and transfer of certain Class A Common Shares in the Company.
</FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">7.</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">An officer&#146;s certificate dated 23 September 2003 and issued by D. Scrivner (as company secretary of the Company) confirming details of the authorised and issued share capital
of the Company as of that date. </FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">8.</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">The entries and filings shown in respect of the Company on the file of the Company maintained in the Register of Companies at the offices of the Registrar of Companies in Hamilton,
Bermuda, as revealed by a search on 23 September 2003 in respect of the Company. </FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">9.</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">A certificate of compliance dated 23 September 2003 issued by the Registrar of Companies, Hamilton, Bermuda in respect of the Company. </FONT></TD></TR></TABLE>
</BODY></HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>5
<FILENAME>dex992.txt
<DESCRIPTION>SELLING SHAREHOLDERS (SEPTEMBER 23, 2003).
<TEXT>
<PAGE>
                                                                    Exhibit 99.2

<TABLE>
<CAPTION>
                                                                                                        Number of Class A
                                                                                                    common shares beneficially
                                                  Number of Class A        Number of Class A     owned immediately after offering
                                                     common shares           common shares          contemplated by prospectus
           Name                                   beneficially owned            offered         supplement dated September 23, 2003
           ----                                 ---------------------    ---------------------  -----------------------------------
<S>                                                  <C>                       <C>                    <C>
ABACUS (C.I.) Limited, as trustee of The
Downie Family Trust, u/a/d June 4, 2003                75,552                  28,332                     47,220
Oday Abbosh                                            64,099                   8,975                     55,124
Omar Abbosh                                           363,129                  52,487                    310,642
Anne F. Abrahamsen                                      2,000                   2,000                          0
Paul J. Adler                                         108,467                  13,093                     95,374
Paula Adriao                                           59,128                  10,390                     48,738
Kees C. Aerts                                          13,254                   2,500                     10,754
Jorge Aguado                                           80,049                  12,937                     67,112
Darrin E. Ahrens                                       11,743                  11,382                        361
Kennet W. Ake                                           2,432                   2,432                          0
Ayad Al-Ani                                            58,661                   9,923                     48,738
Alejandro C. Alcoverro                                 78,478                   7,500                     70,978
Jonathon R. Allaway                                   440,289                  63,640                    376,649
David J. Allen                                         14,470                  13,650                        820
Alexandra Altmann                                      70,057                   9,572                     60,485
Renato B. Alto                                            891                     591                        300
Juan E. Amador                                        417,776                  60,388                    357,388
Javier Amezola                                          2,574                   2,574                          0
Matthew J. Anderson                                    11,162                   3,006                      8,156
Grant Andes                                             2,000                   2,000                          0
Greg Andrews                                            3,088                   1,088                      2,000
Jonathan S. Andrews                                    12,450                   4,251                      8,199
Garth R. Andrus                                         1,690                   1,690                          0
Mario A. Angelastro                                   162,335                  15,184                    147,151
Donald D. Anguish                                       7,380                   3,380                      4,000
Annmarie McNaney                                          672                     672                          0
Theodore Ansusinha                                      3,220                   3,220                          0
Rodolfo Q. Aquino                                       8,500                   4,000                      4,500
Margaret E. Arky                                       13,467                   5,139                      8,328
William J. Armstrong                                    3,748                   2,748                      1,000
Sandeep K. Arora                                          845                     845                          0
Ian G. Arthur                                         519,240                  75,054                    444,186
Elisabeth A. Astall                                   487,130                  91,218                    395,912
Marcelo Astrachan                                     309,036                  35,637                    273,399
Eduardo Atihe                                         153,924                  21,958                    131,966
Christopher G. Atkins                                   4,257                   2,257                      2,000
Olivier Aubert                                          4,552                   4,386                        166
Herve Auchere                                           1,152                   1,152                          0
John Audia                                             13,135                  12,940                        195
Ahmad Azhar                                            58,907                  10,000                     48,907
Luigi Badaloni                                         10,890                  10,680                        210
Jae-Bong Bae                                           83,099                  10,000                     73,099
Paolo Bagnasco                                          1,612                   1,612                          0
Andreas Baier                                          10,051                   9,916                        135
James E. Bailey                                         4,212                   2,212                      2,000
Charles Ball                                           84,292                  15,180                     69,112
Jerome Barancourt                                       1,137                   1,137                          0
Alberto Bardaji Pascual                                 1,615                     885                        730
Nigel Barnes                                           91,444                  13,607                     77,837
Ian Barnetson                                          88,938                  13,443                     75,495
Thomas B. Barry                                       513,854                  74,273                    439,581
Pedro Barsanti Vigo                                    10,826                   2,400                      8,426
Manfred E. Barth                                       76,898                   1,792                     75,106
David B. Baruch                                         2,978                     978                      2,000
Michael K. Bass                                        31,710                  31,710                          0
Peter Baumann                                           8,673                   8,673                          0
Sally Bean                                             70,366                   9,881                     60,485
Mark Beaton                                            76,520                   7,000                     69,520
Steven D. Beene                                        11,297                   3,042                      8,255
Richard O. Beggs                                       11,152                   2,786                      8,366
John T. Bell                                           72,696                  12,211                     60,485
Phillip J. Bell                                         2,000                   2,000                          0
Royce M. Bell                                         549,348                  79,404                    469,944
Philippe Bellamit                                       7,550                   1,500                      6,050
Bjorn E. Bengtsson                                    400,598                  66,767                    333,831
La Cinda S. Benson                                      2,000                   2,000                          0
Daniel M. Benton                                      359,752                  52,000                    307,752
Oliver J. Benzecry                                    470,874                  78,479                    392,395
Ernst-Jan Bergman                                     154,604                  22,638                    131,966
Franz Bergmueller                                      58,973                   8,235                     50,738
Larry J. Berry                                         62,943                   9,258                     53,685
Bruno Berthon                                           1,914                   1,914                          0
Adrian M. Bertschinger                                  2,430                   1,160                      1,270
Marc F. Bervoets                                       71,017                   7,500                     63,517
Chiara Betti                                            1,666                   1,666                          0
Paolo Betti                                             1,666                   1,666                          0
Uday Bhansali                                         248,469                  41,412                    207,057
Nicholas Billington                                   497,709                  71,940                    425,769
</TABLE>
                                  Page 1 of 14

<PAGE>
<TABLE>
<CAPTION>
                                                                                                        Number of Class A
                                                                                                    common shares beneficially
                                                  Number of Class A        Number of Class A     owned immediately after offering
                                                     common shares           common shares          contemplated by prospectus
           Name                                   beneficially owned            offered         supplement dated September 23, 2003
           ----                                 ---------------------    ---------------------  -----------------------------------
<S>                                                  <C>                       <C>                    <C>
Adrian R. Bird                                          106,414                   16,104                     90,310
Gilles Biscay                                             1,258                    1,258                          0
Gregory K. Blake                                          2,983                      983                      2,000
Tony Blakey                                             167,938                   26,275                    141,663
Manuel A. Blanco Barrios                                 12,413                    4,198                      8,215
Leo Blennerhassett                                      524,406                   75,799                    448,607
Nigel Blower                                              2,982                      982                      2,000
Pieter W. Boelens                                       154,285                   24,319                    129,966
Fernando J. Boldrini                                    357,019                   59,503                    297,516
Martin F. Bolstad                                         3,397                    3,397                          0
Jamie M. Bolton                                           4,003                    1,880                      2,123
Saulo L. Bonizzato                                       12,117                    8,117                      4,000
Eugenio Bonomi                                            2,458                    2,458                          0
Lars Borjesson                                            1,445                    1,445                          0
Harold S. Bott, Jr                                       12,675                      845                     11,830
Albert R. Boudville                                      60,695                    3,380                     57,315
James T. Bowler                                          13,901                    5,523                      8,378
Michael L. Bowman                                         4,542                      720                      3,822
David M. Boyle                                           14,579                   14,336                        243
Joerg Boysen                                            395,631                  141,796                    253,835
Karen M. Braeckmans                                      73,852                   12,000                     61,852
William L. Bramer                                         1,695                    1,695                          0
Paolo Branchi                                             2,457                      457                      2,000
Christopher Brennan                                     740,307                  107,005                    633,302
Susann F. Bresnahan                                      18,887                    1,500                     17,387
Marco Bressa                                              2,000                    2,000                          0
Debora A. Brieger                                        14,036                    3,158                     10,878
Frank D. Brienzi                                         17,628                   17,328                        300
Marco P. Brocken                                        313,272                   46,764                    266,508
Chris Brocklesby                                         83,627                   12,566                     71,061
James B. Broms                                            1,324                    1,324                          0
Graham R. Brough                                         10,000                   10,000                          0
Dave Brown                                              108,467                   16,157                     92,310
Fred W. Brown                                             5,161                    1,845                      3,316
Wolfgang Brugger                                         76,634                   11,275                     65,359
Mark G. Bryant                                          469,923                   67,923                    402,000
Glenn H. Bryce                                          398,463                   30,000                    368,463
Christian Bulletti                                       10,902                    2,715                      8,187
Paul A. Burgess                                         553,837                  100,000                    453,837
Ann V. Burns                                             12,328                    4,117                      8,211
Darren Burrows                                           75,953                   11,643                     64,310
Thomas L. Butcher                                         2,965                    2,965                          0
Clive J. Butkow                                         415,204                   60,015                    355,189
Scott T. Butler                                           1,690                    1,690                          0
Vidya S. Byanna                                          12,298                    8,046                      4,252
Kenneth Byrne                                            76,788                    8,000                     68,788
Carlos Cadarso Marques                                   11,285                    2,991                      8,294
Philip M. Calcutt                                         3,590                    1,103                      2,487
Lisa L. Campbell                                          3,884                    1,884                      2,000
Stuart G. Campbell                                      183,730                   45,932                    137,798
Juan Camprubi                                             5,599                    1,754                      3,845
Paul L. Cantwell                                          3,130                    3,130                          0

CAPCO Trust Limited as the Trustee of the
Prelude Trust dated November 1, 2002                     54,679                   54,679                          0
Paolo Capone                                              6,512                    4,512                      2,000
Darrin J. Caramonta                                       1,805                    1,805                          0
Chris Carrigan                                           64,099                    8,975                     55,124
Stuart G. Carthy                                        400,764                   57,928                    342,836
David Cartwright                                         64,099                    9,853                     54,246
Paul Cartwright                                         446,084                   64,478                    381,606
Gregory P. Caster                                         2,588                    1,466                      1,122
Daniel L. Cavenaugh                                      11,627                   11,202                        425
Ricardo M. Cerdan                                        70,366                    9,881                     60,485
Keith J. Cerny                                            2,579                    2,579                          0
Cherine M. Chalaby                                      714,872                  103,329                    611,543
Daniel H. Chan                                          353,793                   51,138                    302,655
Foo Tuck Chan                                            12,863                   12,684                        179
Min X. Chang                                              2,671                    2,671                          0
Charles H. Chapman                                       15,303                   15,303                          0
Gavin J. Chappell                                         4,370                    3,439                        931
Philippe C. Chauffard                                     2,095                    2,095                          0
Jose M. Chaves                                           70,366                    9,881                     60,485
Lai Y. Chee                                             453,188                   10,000                    443,188
David M. Chen                                             2,941                      941                      2,000
Joseph D. Chenelle                                        9,922                    1,558                      8,364
Willie J. Cheng                                         690,689                  253,484                    437,205
Robert Chew                                             302,493                   43,723                    258,770
</TABLE>
                                  Page 2 of 14

<PAGE>
<TABLE>
<CAPTION>
                                                                                                        Number of Class A
                                                                                                    common shares beneficially
                                                  Number of Class A        Number of Class A     owned immediately after offering
                                                     common shares           common shares          contemplated by prospectus
           Name                                   beneficially owned            offered         supplement dated September 23, 2003
           ----                                 ---------------------    ---------------------  -----------------------------------
<S>                                                  <C>                       <C>                    <C>
Youngcho Chi                                             79,786                   14,220                     65,566
Richard A. Childs                                       378,141                   54,657                    323,484
Yew C. Ching                                            573,291                   50,000                    523,291
Chuan N. Chong                                           75,666                   11,697                     63,969
Tong F. Chow                                             57,832                    8,069                     49,763
Manoj Chowla                                              2,215                    2,215                          0
Alex Christou                                           358,615                   57,171                    301,444
Michael H. Chung                                          3,213                    1,213                      2,000
Alberto Ciriello                                          1,826                    1,826                          0
Roberto Citton                                            4,345                      909                      3,436
Andrew Clarke                                             4,018                    4,018                          0
Stuart A. Clarke                                          1,267                    1,267                          0
Robert C. Clauser                                         2,000                    2,000                          0
Thomas Claussen                                         438,015                   73,002                    365,013
Robert C. Clement                                         1,690                    1,690                          0
Stewart R. Clements                                     640,945                   39,759                    601,186
Ken G. Climie                                           434,577                   62,814                    371,763
David R. Clinton                                        775,059                  135,793                    639,266
John L. Coffey                                           13,525                    5,525                      8,000
Sergio Colella                                            1,258                    1,258                          0
Shawn Collinson                                         487,445                   70,458                    416,987
Ramon Colomina                                           10,705                    2,705                      8,000
John F. Coltsmann                                         2,119                    1,181                        938
Daniel F. Conforti                                       70,366                   11,881                     58,485
J. Scott Cook, Jr                                        36,944                   11,000                     25,944
Alison J. Copley                                        608,858                   78,972                    529,886
Silvano Corallo                                           2,458                      458                      2,000
Marian Corcoran                                          70,366                   11,881                     58,485
Teutly Correia                                          110,942                   23,331                     87,611
Nancy R. Costello                                         2,000                    2,000                          0
Paul T. Cottey                                            2,000                    1,000                      1,000
Jean L. Cougoul                                           2,480                    2,480                          0
Cory H. Courtney                                         12,273                    4,015                      8,258
Peter R. Courtney                                       380,064                   82,060                    298,004
Christopher M. Cowan                                    582,475                   84,193                    498,282
Teresa S. Crabtree                                        4,254                    4,000                        254
Constance A. Cranos                                      11,462                    3,344                      8,118
Patricia Creedon                                          1,690                    1,129                        561
Karen Crennan                                             6,032                    5,032                      1,000
James D. Crowley                                        445,980                   64,463                    381,517
Jorge Crudele                                           351,561                   50,815                    300,746
Steven R. Culp                                           12,403                    1,622                     10,781
Andrew R. Curtis                                        524,717                   92,826                    431,891
Carrie L. Cusack                                          2,586                      586                      2,000
John M. Cusano, Jr                                        4,080                    2,080                      2,000
David R. Dahle                                            2,671                    2,671                          0
Pierre L. Dalton                                        100,251                   15,397                     84,854
Denise Damiani                                           70,366                    9,881                     60,485
Raffaella D'Angiolino                                    62,943                    9,819                     53,124
Daniel W. Darland                                         2,965                      965                      2,000
Thomas H. Davenport                                      20,670                   12,670                      8,000
Michael R. David                                         12,795                    4,607                      8,188
Fritha A. Davidson                                      388,081                   56,092                    331,989
Jon P. Davis                                             76,520                   11,649                     64,871
Joseph E. Davis, Jr                                      12,447                    4,015                      8,432
David W. Day                                             13,216                    5,103                      8,113
Eric De Blauwe                                            5,214                    4,825                        389
Hans de Boer                                             59,762                    8,231                     51,531
Marc O. De Kegel                                        630,215                   51,093                    579,122
Yvonne B. de Ridder                                     346,913                   50,143                    296,770
Ian R. De Snoo                                           11,544                    3,544                      8,000
Frikkie de Villiers                                      70,366                    9,881                     60,485
James De Watteville                                      78,748                    2,375                     76,373
Gert M. De Winter                                       155,324                   23,358                    131,966
Pieter W. de With                                       143,367                   11,401                    131,966
Johan G. Deblaere                                       503,987                   72,846                    431,141
Heinrich Degener                                         10,082                    2,500                      7,582
Cheryl L. Deitcher                                        1,690                    1,690                          0
LaMae A. deJongh                                          4,504                    2,086                      2,418
Jaime G. del Rosario                                    270,456                   30,752                    239,704
Vittorio Delmonte                                         1,690                    1,690                          0
Stephen J. Dempsey                                      392,495                   56,732                    335,763
Michael A. Dennis                                         1,690                    1,690                          0
R. Douglas Derrick                                       11,409                    1,409                     10,000
Koen D. Deryckere                                       100,876                   18,022                     82,854
Jose Manuel Desco Agullo                                  9,890                    9,633                        257
Andrew J. Desmond                                         2,658                    1,460                      1,198
Mark A. Detelich                                         12,280                    4,280                      8,000
</TABLE>
                                  Page 3 of 14

<PAGE>
<TABLE>
<CAPTION>
                                                                                                        Number of Class A
                                                                                                    common shares beneficially
                                                  Number of Class A        Number of Class A     owned immediately after offering
                                                     common shares           common shares          contemplated by prospectus
           Name                                   beneficially owned            offered         supplement dated September 23, 2003
           ----                                 ---------------------    ---------------------  -----------------------------------
<S>                                                  <C>                       <C>                    <C>
Scott B. Deutschman                                      13,777                      750                     13,027
Jan L. Dewitte                                          159,614                    6,500                    153,114
Giovina S. D'Giacomo                                      3,750                    1,422                      2,328
Carmen Diaz Madronal                                      1,690                    1,690                          0
James R. Dicaprio                                        13,172                    4,325                      8,847
Emerson G. Dickey, Jr                                    60,000                   10,000                     50,000
Otto Diemer                                             311,540                   45,032                    266,508
Guido H. Dieperink                                       70,366                   11,881                     58,485
David R. Dietrich                                         2,747                    2,747                          0
Francisco J. Diez                                         9,723                    9,575                        148
Jose Luis Diez Ballesteros                               11,804                    2,819                      8,985
Fraser M. Dillingham                                    169,514                   25,851                    143,663
Earle R. Dinsmore                                        98,083                    3,000                     95,083
Sara J. Dioguardi                                        11,509                    3,509                      8,000
Glenn J. Dispenziere                                     10,088                    9,867                        221
Lucretia D. Doblado                                       1,000                    1,000                          0
David J. Dohnalik                                         1,537                      161                      1,376
Alistair A. Donald                                      687,291                  100,000                    587,291
Christopher P. Donnelly                                   7,887                    3,509                      4,378
James C. Donohue                                          5,485                    3,592                      1,893
Kevin J. Dooley                                          12,905                    4,604                      8,301
Niall P. Doran                                           64,169                    9,045                     55,124
Giuseppe Dosi                                             2,000                    2,000                          0
Jonathan Doyle                                            2,472                    2,472                          0
John F. Drake                                            12,959                    4,419                      8,540
Michel Driessen                                          13,294                    4,960                      8,334
Marla J. Driscoll                                         8,630                    8,630                          0
Reid S. Drucker                                           3,597                    3,597                          0
Vitor C. Duarte                                         476,364                   68,854                    407,510
Michael G. Duffy                                         93,994                   13,747                     80,247
John D. Dugan                                             1,780                    1,780                          0
Todd A. Dunbar                                            2,556                      556                      2,000
Peter T. Duncan                                          11,130                    2,705                      8,425
 Dundee Rep Theatre, Ltd.                                 1,436                    1,436                          0
John F. Durocher                                         11,305                    2,870                      8,435
Andrew J. Dvorocsik                                      11,705                    3,705                      8,000
Richard C. Easton                                         2,775                    2,775                          0
Philip A. Eaton                                          76,210                   11,339                     64,871

EB Trustees Limited, as trustees of the Herman
Heyns Family Trust, u/a/d March 20, 2003                 12,749                   12,749                          0
Terry R. Ecklund                                          2,000                    2,000                          0
Giles A. Edmonds                                         12,631                   12,434                        197
Nicholas H. Edwards                                     464,474                   67,137                    397,337
W. Mark Edwards                                         112,145                   15,000                     97,145
Atsushi Egawa                                            65,396                   14,658                     50,738
James M. Ehrhart                                         88,177                   15,071                     73,106
Don A. Eichmann                                           2,579                    2,579                          0
Scot K. Eisenfelder                                       2,965                      965                      2,000
Amr El Saadani                                           70,366                    4,500                     65,866
J. Dean Elliott                                           1,690                    1,690                          0
Vernon J. Ellis                                         973,541                  500,000                    473,541
Richard P. Emery                                         12,314                    4,117                      8,197
Peter P. Esparrago                                        3,562                    1,562                      2,000
Ennio Esposito                                            2,969                    2,969                          0
Mike Ethelston                                           65,168                   10,922                     54,246
Mark J. Euwe                                             58,973                    8,235                     50,738
Craig R. Everson                                         13,070                    1,500                     11,570
Phillip G. Everson                                       10,898                    2,648                      8,250
Jaime Falcao                                            357,695                   53,199                    304,496
Jean Faltz                                              426,122                   61,594                    364,528
Forest T. Fenton, Jr                                      2,000                    2,000                          0
Luiz C. Ferezin                                         451,543                   82,738                    368,805
Martin Ferguson                                           2,938                      938                      2,000
Antonio L. Fernandez                                    291,401                   33,086                    258,315
Marcos A. Fernandez                                       4,113                    4,000                        113
Jose Francisco Fernandez Perdiz                          71,649                   12,189                     59,460
Daniele Ferrari                                           9,720                    9,200                        520
Guido Ferriani                                           10,902                    2,715                      8,187
Vincenzo Ferro                                            2,767                      767                      2,000
Charles B. Findlay                                      412,225                   59,584                    352,641
Gary S. Fink                                              3,904                    1,904                      2,000
Timothy M. Finnegan                                       3,314                    3,314                          0
Kenneth A. Fishman                                        4,888                    2,888                      2,000
Jennifer V. Flake                                        14,084                    2,389                     11,695
Mario Fleck                                             703,042                  101,619                    601,423
Eberhard M. Fledel                                      336,770                   48,677                    288,093
Ronald N. Flores                                          4,190                    4,190                          0
</TABLE>
                                  Page 4 of 14

<PAGE>
<TABLE>
<CAPTION>
                                                                                                        Number of Class A
                                                                                                    common shares beneficially
                                                  Number of Class A        Number of Class A     owned immediately after offering
                                                     common shares           common shares          contemplated by prospectus
           Name                                   beneficially owned            offered         supplement dated September 23, 2003
           ----                                 ---------------------    ---------------------  -----------------------------------
<S>                                                  <C>                       <C>                    <C>
Michael S. Foong                                         58,449                   10,686                     47,763
Charles S. Forbes                                         1,164                    1,164                          0
Gill Ford                                                64,099                    8,975                     55,124
Marcelo C. Fortes                                        70,366                    9,881                     60,485
Stephen R. Fowler                                       578,406                   30,000                    548,406
Leonardo J. Framil                                       12,424                   12,117                        307
Peter H. Franz                                          535,231                   50,000                    485,231
Albert H. Frazier                                         1,777                    1,777                          0
Jason C. Freedman                                         3,163                    1,876                      1,287
Sigurd Fristad                                            8,720                    8,320                        400
James G. Fry                                              1,690                    1,690                          0
Akitomo Fujibayashi                                     671,245                  100,000                    571,245
Mikio Fujii                                             513,026                   65,120                    447,906
Toshio Fukuzumi                                         606,229                   31,557                    574,672
Maria Fullone                                            10,937                   10,772                        165
D. Wayne Furphy                                         528,336                   76,365                    451,971
Jose Galamba de Oliveira                                442,040                   65,886                    376,154
Rafael Galan                                              3,845                    2,000                      1,845
Larry Gan Nyap Liou                                     768,419                  111,070                    657,349
Pedro J. Garcia                                         337,759                   55,417                    282,342
Randall E. Gargas                                         2,891                      891                      2,000
Jennifer A. Gatewood                                      3,403                    2,290                      1,113
Wolfgang Gattermeyer                                    465,502                   67,283                    398,219
Mario Gazanego, Jr                                      599,425                   80,000                    519,425
Xavier A. Gazay                                           1,258                    1,258                          0
Ian D. Geddes                                             2,015                    2,015                          0
Silvio J. Genesini, Jr                                  624,047                   90,202                    533,845
Juergen Gerlach                                         677,048                   97,862                    579,186
Anatole V. Gershman                                       2,000                    1,000                      1,000
Robert C. Gibbs                                          88,069                    1,071                     86,998
Roeland Gielen                                           11,040                    2,877                      8,163
Dirk Gierlach                                            60,174                    8,900                     51,274
Tim Gilchrist                                            78,499                   12,750                     65,749
Gustavo Gill                                            372,792                   53,884                    318,908
Olivier J. Gillerot                                      58,972                    8,234                     50,738
Daniel G. Gillet                                        567,879                   82,080                    485,799
Mark J. Gilrain                                          12,616                   12,177                        439
Maria Teresa Gimelli                                      1,667                    1,667                          0
D. Neil Gissler                                           2,000                    2,000                          0
Thomas Gith                                             325,752                   52,353                    273,399
Bart H. Glass                                             2,625                    2,625                          0
Manuel M. Godinho                                        72,905                    8,000                     64,905
Michael Goerner                                         383,279                   55,400                    327,879
Aik M. Goh                                               71,691                   14,376                     57,315
David Golding                                            85,522                   17,988                     67,534
David S. Goldson                                          3,517                    1,517                      2,000
Jose Gomes                                              154,779                   21,959                    132,820
Michael D. Goodson                                        2,938                      938                      2,000
Mark V. Goodyear                                        554,954                   80,214                    474,740
Sanjay Gopal                                             13,118                    4,940                      8,178
Noel A. Gordon                                          535,247                   98,492                    436,755
William M. Gordon                                       385,272                  176,433                    208,839
Alexandre Gorine                                            845                      845                          0
Paul Gosling                                             71,372                   12,057                     59,315
Johnny E. Gowdy                                          66,382                      633                     65,749
Mary B. Gracy                                             6,900                    5,168                      1,732
Geoffrey S. Graham                                        3,131                    3,131                          0
Gina Graziosi Fine                                        2,000                    2,000                          0
Enrico Grazzini                                           2,356                    1,356                      1,000
Mark E. Greenberg                                         2,692                    2,692                          0
Shawn T. Gregor                                           1,666                      666                      1,000
Daniel G. Greteman                                        2,000                    2,000                          0
James C. Grimsley  Jr                                     4,313                    2,313                      2,000
Anja H. Groenewoud                                       69,211                   10,726                     58,485
Siegfried Grohs                                         360,082                   52,047                    308,035
Bhra E. Gunapriya                                       239,973                   25,653                    214,320
Gregory S. Guthridge                                      2,955                      955                      2,000
Guido Haarmann                                           87,459                   12,353                     75,106
Sean M. Hagarty                                          11,318                    3,089                      8,229
Jon E. Hagstrom                                           2,917                      917                      2,000
Fred G. Hajjar                                           14,940                    4,000                     10,940
James D. Hall                                           808,646                  116,884                    691,762
Bradley D. Hallin                                         1,845                    1,845                          0
Donald G. Hamilton                                       15,402                    3,706                     11,696
Simon J. Hamilton                                        13,312                    4,960                      8,352
Bong-Hoon Han                                           371,208                   40,000                    331,208
Kevin M. Hanley                                          66,136                   11,890                     54,246
Arthur Hanna                                            107,312                   16,002                     91,310
Mikael Hansson                                           10,066                    9,771                        295
</TABLE>
                                  Page 5 of 14

<PAGE>
<TABLE>
<CAPTION>
                                                                                                        Number of Class A
                                                                                                    common shares beneficially
                                                  Number of Class A        Number of Class A     owned immediately after offering
                                                     common shares           common shares          contemplated by prospectus
           Name                                   beneficially owned            offered         supplement dated September 23, 2003
           ----                                 ---------------------    ---------------------  -----------------------------------
<S>                                                  <C>                       <C>                    <C>
Simon J. Hargreaves                                      13,499                    2,000                     11,499
Gasser Haridy                                            13,701                    1,350                     12,351
Audrey R. Harrell                                         7,976                    2,000                      5,976
Alan T. Harris                                          535,056                   71,001                    464,055
Steven B. Harrison                                        9,544                    9,544                          0
Jeffrey S. Hartigan                                       2,000                    2,000                          0
M. S. Hartley                                             4,190                      598                      3,592
Andrew G. Hartvich                                        3,113                    1,113                      2,000
John Haswell                                              3,192                    1,192                      2,000
Toru Hatano                                              70,450                    9,965                     60,485
Stephan Haupt                                             9,924                    1,924                      8,000
Keith F. Haviland                                       576,004                   94,862                    481,142
John S. Hawkins                                         446,151                   64,545                    381,606
Andrew M. Hay                                           464,474                   67,137                    397,337
Gary J. Haywood                                          12,649                    3,889                      8,760
Hazel Marilyn Ellis, Vernon James Ellis, Andrew
David Ellis, Katie Louise Ellis, Mary Elizabeth
Bide, Mark Bide and Bartholomew Guy Peerless, as
Trustees of The Vernon Ellis Family Charitable
Trust dated December 3, 2001                            126,179                  126,179                          0
Alan J. Healey                                          401,943                   58,097                    343,846
B. M. Heath                                               5,913                    5,913                          0
Bernhard A. Heck                                         59,865                    9,127                     50,738
Ulrich Heckenberger                                      10,089                    9,813                        276
Peter O. Heemskerk                                       58,997                    8,259                     50,738
Norbert Hegner                                          313,206                   45,803                    267,403
Jorg G. Heinemann                                         5,577                    3,577                      2,000
Craig H. Heiser                                           1,866                    1,866                          0
James C. Hendrickson                                     20,409                    6,000                     14,409
Graham T. Henry                                         168,120                  168,120                          0
Gregory R. Herman                                           845                      845                          0
Steven W. Hermann                                         1,500                      500                      1,000
Julio J. Hernandez                                       11,324                   11,066                        258
Dale R. Hersch                                            8,411                    4,411                      4,000
Dirk Heselmann                                           70,057                   11,572                     58,485
Thomas H. Hess                                           11,800                    3,089                      8,711
Michael T. Hessler                                        1,291                    1,215                         76
Robert W. Hetherington                                  168,498                   24,835                    143,663
Ivo Heukensfeldt Jansen                                 340,999                   40,254                    300,745
Herman R. Heyns                                          75,887                   11,016                     64,871
Michael K. Higgins                                        1,690                    1,690                          0
Marc J. Hillen                                          346,913                   50,143                    296,770
James T. Hintlian, Jr                                     2,295                    2,295                          0
Greg J. Hodak                                            12,633                    4,633                      8,000
Chikatomo Hodo                                          530,743                   76,715                    454,028
Gerold Hoerrmann                                        389,258                   56,000                    333,258
Thomas H. Hofbauer                                       83,879                   15,647                     68,232
John C. Hollis                                          594,054                  210,000                    384,054
Anthony N. Holman                                         2,264                    2,264                          0
Peter Holmes                                            481,252                   69,562                    411,690
Sara Holmes-Woodhead                                     97,755                   16,947                     80,808
Rob W. Honts                                              1,944                    1,444                        500
Steve J. Hooper                                          90,627                    4,000                     86,627
Ray Hopkins                                              10,202                   10,202                          0
Maureen S. Horgan                                         9,319                    8,779                        540
Nobuhisa Horiguchi                                      368,641                   50,000                    318,641
Bruce J. Horton                                          76,520                   10,771                     65,749
Andrew J. Hosking                                         3,118                    3,118                          0
Hans Hoss                                               321,550                   48,151                    273,399
Timothy J. Hourigan                                       9,891                    9,466                        425
Patrick R. Housen                                         2,932                    2,932                          0
Malcolm Howard                                          450,867                   75,144                    375,723
Friedrich Huber                                         159,288                   27,322                    131,966
F. Courtenay Huff                                        10,203                    2,203                      8,000
Richard T. Huffer                                        82,728                   11,667                     71,061
Mark A. Hughes                                           11,283                    2,877                      8,406
Shelley L. Hurley                                         2,342                    2,342                          0
Dwight N. Hutchins                                        2,203                    2,203                          0
Gary S. Ide                                               5,623                    1,434                      4,189
Antonio Iglesias del Rio                                  2,000                    2,000                          0
Motoki Iidoi                                            372,792                   53,884                    318,908
Masahisa Inagaki                                         58,973                    8,235                     50,738
Roger Ingold                                            606,491                   87,664                    518,827
Mitsuo Isaji                                             70,366                    9,881                     60,485
Takashi Ishikawa                                        324,248                   50,849                    273,399
Yutaka Iso                                              378,188                   54,664                    323,524
Hiroshi Ito                                              84,764                   13,647                     71,117
</TABLE>
                                  Page 6 of 14

<PAGE>
<TABLE>
<CAPTION>
                                                                                                        Number of Class A
                                                                                                    common shares beneficially
                                                  Number of Class A        Number of Class A     owned immediately after offering
                                                     common shares           common shares          contemplated by prospectus
           Name                                   beneficially owned            offered         supplement dated September 23, 2003
           ----                                 ---------------------    ---------------------  -----------------------------------
<S>                                                  <C>                       <C>                    <C>
Kumar K. Iyer                                            51,414                    9,644                     41,770
Michael A. Jackowski                                     11,822                    3,552                      8,270
Jaime Jackson                                            80,140                   13,028                     67,112
Mark D. Jackson                                          12,503                   12,503                          0
Erik Jacob                                                4,020                    3,705                        315
Hendrik C. Jahn                                          20,000                   20,000                          0
Sanjay Jain                                              24,905                   24,905                          0
James A. Carty, as Trustee of the James A.
Carty Revocable Trust                                    12,267                    5,000                      7,267
Saleem Janmohamed                                         5,491                    3,491                      2,000
Owen Jelf                                                91,524                   15,151                     76,373
Michael Jeltsch                                          58,973                   10,235                     48,738
Justin Jenk                                              43,388                   42,266                      1,122
Simon C. Jenkins                                         65,831                   10,707                     55,124
Raymond H. Jewitt                                       648,923                   93,797                    555,126
Gregory Johnson                                          82,728                   11,667                     71,061
James C. Johnson                                          2,000                    2,000                          0
Omobola O. Johnson                                       47,642                    5,000                     42,642
Steven J. Johnson                                        64,294                    5,000                     59,294
Jorma H. Jokinen                                         14,292                    5,828                      8,464
Philip E. Jones                                         333,532                   39,174                    294,358
Tim J. Jones                                             78,028                   13,157                     64,871
Judith W. Prince as Trustee of the
J. Robert Prince Irrevocable Trust
dated October 17, 2002                                    8,448                    8,448                          0
Kevin K. Julian                                           2,322                    1,690                        632
Jens B. Junkermann                                       58,973                    8,235                     50,738
Pedro Jurado                                              3,496                    3,496                          0
Maher H. Kaddoura                                       448,075                   55,731                    392,344
Brian G. Kalms                                           90,805                   19,744                     71,061
Tom C. Kane                                              13,127                    4,900                      8,227
Brian A. Kaplow                                           2,932                    2,932                          0
Ikuo Karasawa                                           600,559                   86,806                    513,753
Peter C. Karremans                                       70,366                    9,881                     60,485
Douglas L. Kasamis                                        3,405                    3,405                          0
Martin Kasper                                           307,145                   44,394                    262,751
Nobuaki Katsuya                                         433,389                   62,644                    370,745
Sergio G. Kaufman                                        88,855                   13,749                     75,106
Michael J. Kaye                                           7,805                    3,601                      4,204
Masahito Kazaoka                                         70,057                   11,572                     58,485
Stephen P. Kelly                                        393,605                   57,000                    336,605
William F. Kelly                                          3,877                    1,877                      2,000
Nicholas R. Kent                                        423,009                   61,142                    361,867
Michael D. Kern                                           2,917                      917                      2,000
Sean M. Kerr                                              3,487                    3,194                        293
Martin Kerres                                           192,350                   19,235                    173,115
Kerry Anita Dyus                                          3,935                      935                      3,000
Apolonia Kersch                                           1,869                    1,869                          0
Rolf Ketelaar                                            70,882                   11,397                     59,485
Ingo Kett                                               311,540                   45,032                    266,508
Norbert Kettner                                          58,973                   10,235                     48,738
Sudhindar K. Khanna                                     728,338                  121,390                    606,948
Peter Kiehm                                             392,381                   47,682                    344,699
Chul Kim                                                 73,955                   17,810                     56,145
John E. Kindt                                            10,500                    3,200                      7,300
Lindsey King                                             76,210                   11,339                     64,871
Guy H. Kinley                                            13,090                    3,223                      9,867
John P. Kinney                                          427,948                   61,855                    366,093
Ina Kirchhof                                             87,851                   22,492                     65,359
John S. Kish                                              1,845                    1,000                        845
Peter-Paul M. Kissels                                   402,941                   58,242                    344,699
Geir T. Kjellevold                                        6,562                    6,468                         94
Elizabeth C. Klee                                         2,162                    1,162                      1,000
Bernhard J. Klein Wassink                                 1,690                    1,690                          0
Stefan Knipp                                             10,373                    2,120                      8,253
Hartmann Knorr                                            3,767                    2,000                      1,767
Michael Knott                                            76,520                   10,771                     65,749
Benedikt J. Koch                                        351,561                   50,815                    300,746
Martin Kochman                                           88,938                   12,565                     76,373
Hiroaki Kodaira                                         378,188                   54,664                    323,524
Mohammad D. Koesoemahardja                               10,560                   10,560                          0
Thomas Kohler                                           624,670                  135,000                    489,670
Pasi Koivunen                                            45,756                    6,325                     39,431
Yutaka Koizumi                                           69,212                    1,000                     68,212
Eiichi Kokado                                            12,650                   12,117                        533
Jussi Konkola                                            46,917                    7,450                     39,467
Fumio Koyama                                            570,360                  226,400                    343,960
Robert Kreuzer                                          153,615                   23,649                    129,966
</TABLE>
                                  Page 7 of 14

<PAGE>
<TABLE>
<CAPTION>
                                                                                                        Number of Class A
                                                                                                    common shares beneficially
                                                  Number of Class A        Number of Class A     owned immediately after offering
                                                     common shares           common shares          contemplated by prospectus
           Name                                   beneficially owned            offered         supplement dated September 23, 2003
           ----                                 ---------------------    ---------------------  -----------------------------------
<S>                                                  <C>                       <C>                    <C>
Jaroslaw Kroc                                            12,937                    4,754                      8,183
Daniel P. Krueger                                         3,665                    1,000                      2,665
Xian H. Ku                                               98,958                   12,000                     86,958
Kazushi Kubokawa                                         16,656                    8,123                      8,533
Ajit Kumar                                               56,239                    7,841                     48,398
Nalin Kumra                                              79,436                   13,687                     65,749
Eugenio Kuri                                            456,300                   65,955                    390,345
Ittoop J. Kurian                                          2,512                    1,489                      1,023
Adrian J. Lajtha                                        752,078                  108,707                    643,371
Alexander Landia                                          2,489                    1,633                        856
Gerhard Langst                                          154,202                   22,236                    131,966
Jean-Michel Lapisse                                       1,703                    1,703                          0
Tomas Larez                                             111,262                    5,654                    105,608
Paul M. Larson                                            1,935                      935                      1,000
Russell K. Lath                                          12,360                    4,117                      8,243
Stephen M M. Lathrope                                    10,889                    2,648                      8,241
Alex W. Lau                                             557,176                   80,534                    476,642
Kevin M. Laudano                                         13,640                    5,207                      8,433
Robert L. Laurens                                        13,811                      500                     13,311
Michael T. Lavelle                                        2,555                    1,555                      1,000
Kenneth P. Lawhorn                                       11,421                    3,421                      8,000
Nicholas Le Saux                                          1,386                    1,386                          0
Vincent Lebeault                                          5,213                    3,500                      1,713
Jae-Hyung Lee                                           380,648                   70,000                    310,648
Dymphna Lehane                                          396,748                   57,346                    339,402
Roger W. Lehman                                          14,622                    3,000                     11,622
Sandra L. Leitch                                         88,031                   14,757                     73,274
Inaki Leiva                                               2,846                      846                      2,000
Mark Lelinski                                             2,381                    2,381                          0
William F. Lenihan                                        3,156                    1,156                      2,000
Antonio C. Leocadio                                     442,517                   63,962                    378,555
Pino Leoni                                               10,263                    2,263                      8,000
Richard E. Lesher                                         3,100                    1,100                      2,000
Patrick W. Leung                                        349,850                   50,568                    299,282
Seth M. Levine                                            6,317                    4,317                      2,000
Lance H. Levy                                            11,200                    3,200                      8,000
Angel Li                                                141,413                   24,443                    116,970
Gong Li                                                 405,210                   86,302                    318,908
John E. Lichtenstein                                      1,277                    1,277                          0
Harald Lieder                                            70,366                   11,881                     58,485
Adriaan H. Lieftinck                                     76,772                   11,413                     65,359
Mark T. Lillie                                           65,466                    6,000                     59,466
Beng Choon Lim                                          462,864                   66,901                    395,963
Joo Boon Lim                                            528,015                   93,226                    434,789
Robert K. Lindsey                                         4,910                    4,910                          0
Norbert Linn                                            346,913                   50,143                    296,770
Ben T. Little                                            11,906                    3,576                      8,330
Joseph F. Lobbato                                       550,770                  111,959                    438,811
Hans-Dieter Lochmann                                    414,812                   69,135                    345,677
Amy T. Loftus                                             2,000                    2,000                          0
Paul D. Loftus                                            7,289                    1,000                      6,289
Karen A. Lohss                                           11,586                    3,000                      8,586
Iain D. Lopata                                            2,110                    2,110                          0
Manuel d. Lopes Alves                                   579,673                  207,758                    371,915
George L. Lovett                                          2,000                    2,000                          0
Steven E. Lubowicz                                       11,115                    2,943                      8,172
Michael A. Lucarini                                      12,620                    3,241                      9,379
Harald Luehrmann                                        324,835                  151,158                    173,677
Betty G. Lui                                            238,831                   34,522                    204,309
Richard A. Lumb                                         578,506                   83,617                    494,889
Pierre Lumsden                                          474,213                   64,206                    410,007
Sami J. Luukkonen                                        44,600                    7,169                     37,431
Dirk Luyten                                             159,956                   15,993                    143,963
Arnoud Maas                                               7,143                    6,986                        157
Julian A. Mabe                                            1,785                    1,785                          0
Mauro Macchi                                              2,767                      767                      2,000
Alwin K. Magimay                                         12,501                   10,915                      1,586
Josef Mago                                               61,204                   12,466                     48,738
Yong Sun Mah                                            422,501                   61,070                    361,431
Denise D. Malecki                                        12,835                    3,372                      9,463
Klaus Malle                                              58,973                    8,235                     50,738
Juho E. Malmberg                                        273,366                   20,000                    253,366
David Mann                                               65,163                   10,917                     54,246
Christian Marchetti                                       2,851                    2,851                          0
Gianluca A. Marcopoli                                     7,303                    3,000                      4,303
Nitti L. Mardjan                                         70,619                   10,134                     60,485
Fabrice Mariaud                                           4,564                    4,435                        129
Eric E. Marin                                            13,904                    1,500                     12,404
</TABLE>
                                  Page 8 of 14

<PAGE>
<TABLE>
<CAPTION>
                                                                                                        Number of Class A
                                                                                                    common shares beneficially
                                                  Number of Class A        Number of Class A     owned immediately after offering
                                                     common shares           common shares          contemplated by prospectus
           Name                                   beneficially owned            offered         supplement dated September 23, 2003
           ----                                 ---------------------    ---------------------  -----------------------------------
<S>                                                  <C>                       <C>                    <C>
Antonino Marino                                          10,495                    2,263                      8,232
Toni L. Mark                                              2,000                    2,000                          0
Vitor Marques                                            14,870                    5,623                      9,247
Michele Marrone                                          10,424                   10,000                        424
Makoto Maruyama                                         153,615                   23,649                    129,966
Raul J. Mascarenhas                                     465,502                   67,283                    398,219
Tony Masella                                              5,500                    3,500                      2,000
Suzette L. Massie                                         6,900                    6,468                        432
Yuichiro Masuno                                           4,709                    4,176                        533
Keiji Matsuoka                                          431,121                   62,316                    368,805
Marcio C. Mattos                                        416,981                   51,237                    365,744
Brian R. May                                              3,470                    1,470                      2,000
Trent A. Mayberry                                         3,654                    1,654                      2,000
Jon Mayne                                               107,312                   16,441                     90,871
Kathleen M. Mcdivitt                                      2,453                      545                      1,908
David G. McFarland                                      463,479                  115,869                    347,610
Don McGill                                              396,748                   57,346                    339,402
Michael A. McGinn                                       451,303                   65,232                    386,071
Jeff R. McGowan                                           2,710                    2,710                          0
Christopher J. McGrath                                    2,000                    1,000                      1,000
Dermot J. McMeekin                                      444,538                  350,096                     94,442
Stephen L. McMinn                                         9,998                    9,848                        150
Malcolm A. McNamara                                      11,213                   10,932                        281
Mark G. McNulty                                           2,000                    2,000                          0
Timothy Medforth                                        456,130                   65,929                    390,201
Manish J. Mehta                                           3,796                    3,796                          0
Melvin E. Schick and Joanna E. Schick as Trustees
of The Schick Family Trust u/a/d February 11, 1994       80,000                   79,000                      1,000
Lourenco Mendonca                                        14,018                    3,337                     10,681
Andrew Mendoza                                           75,365                   10,616                     64,749
Laurent Mercier-James                                       830                      830                          0
Jeffrey Merrihue                                         15,302                    7,302                      8,000
Chris M. Merrill                                          1,939                    1,939                          0
Tor Mesoy                                                 4,329                    2,329                      2,000
Yannis Methodios                                        354,214                  150,000                    204,214
Andrew J. Middleton                                     571,915                   73,633                    498,282
Valentin Andres d. Miguel Luno                           10,665                    2,493                      8,172
James N. Miller                                          10,892                    2,000                      8,892
Julie E. Miller                                           3,749                    2,058                      1,691
Natasha E. Miller                                        10,777                    2,648                      8,129
Andrew Milligan                                          97,623                   15,937                     81,686
Stephen A. Mills                                         77,418                   11,669                     65,749
Ian D. Milner-Brown                                     758,897                  109,694                    649,203
Raimon Miret                                             11,342                   11,157                        185
Lubos Miskuf                                             76,066                   10,707                     65,359
Koji Mitani                                             157,095                   27,129                    129,966
Clarence Mitchell                                        10,747                   10,567                        180
James D. Mitchell                                         2,891                      891                      2,000
James E. Mitchell                                         3,544                    1,543                      2,001
Seiichi Mitsui                                          530,743                   76,715                    454,028
Stein E. Moe                                              3,397                    1,397                      2,000
Michael Mohnhaupt                                        89,570                   14,464                     75,106
Giorgio Moise                                            13,378                   13,199                        179
Rubens Moll                                              29,068                   17,965                     11,103
Steve Mollenkamp                                         58,973                    8,235                     50,738
Massimiliano Monaco                                       2,000                    2,000                          0
Perry S. Moody                                           23,060                   12,840                     10,220
Noel C. Mooney                                            5,742                    2,500                      3,242
Lee T. Moore                                             11,408                    2,648                      8,760
Peter J. Moore                                            3,397                    1,397                      2,000
Terry L. Moore                                           12,457                    3,363                      9,094
Paul T. Morey                                             3,284                    1,284                      2,000
Gianluigi Morganti                                        1,690                    1,690                          0
Gael C. Morris                                          101,164                   24,791                     76,373
William H. Morris                                        17,357                    9,153                      8,204
David G. Morrison                                         2,595                    1,000                      1,595
David I. Moskovitz                                        6,032                    6,032                          0
Christophe Mouille                                        7,233                    2,000                      5,233
Jean P. Moulin                                              851                      851                          0
David J. Mowat                                          715,865                  107,809                    608,056
Donovan H. Muller                                        72,182                   11,697                     60,485
Laura D. Muller                                           1,845                    1,845                          0
Hans-Joachim Muncheberg                                  76,066                   12,707                     63,359
Cesar Muniz                                             466,711                   67,459                    399,252
Ronald Munk                                             336,770                   48,677                    288,093
Nobuhiko Muraoka                                         13,133                   12,874                        259
Katsuya Murashima                                        71,455                   10,970                     60,485
</TABLE>
                                  Page 9 of 14

<PAGE>
<TABLE>
<CAPTION>
                                                                                                        Number of Class A
                                                                                                    common shares beneficially
                                                  Number of Class A        Number of Class A     owned immediately after offering
                                                     common shares           common shares          contemplated by prospectus
           Name                                   beneficially owned            offered         supplement dated September 23, 2003
           ----                                 ---------------------    ---------------------  -----------------------------------
<S>                                                  <C>                       <C>                    <C>
Tohru Murayama                                         615,204                   88,923                    526,281
Tim Murfet                                             383,208                   55,391                    327,817
James E. Murphy                                         92,154                   42,000                     50,154
Fabrizio Musmeci                                         3,698                    1,698                      2,000
Ramesh B. Nair                                          11,590                   11,444                        146
Andy Naish                                             173,283                   10,000                    163,283
Yuji Nakamura                                           84,926                   19,567                     65,359
Yasuo Nakashima                                        315,681                   45,627                    270,054
Tanya Nargolwalla                                       58,973                    8,235                     50,738
Russ Nash                                               22,934                    2,934                     20,000
Keith C. Nashawaty                                       7,398                    7,398                          0
Michael P. Needleman                                    11,955                    1,000                     10,955
Axel Neidlein                                           10,874                    2,874                      8,000
Terence V. Neill                                       217,533                   12,533                    205,000
Richard A. Nerad                                         1,500                    1,500                          0
Mark R. Newall                                          76,520                   10,771                     65,749
Robert K. Newman                                         2,884                      884                      2,000
Keith G. Newton                                        723,347                  104,554                    618,793
Mandla B. Nhlapo                                        72,182                   13,697                     58,485
W. Anthony Nichols                                       3,674                    1,674                      2,000
Bernward Niederwestberg                                442,517                   63,962                    378,555
Claudia Nieto                                          155,324                   23,358                    131,966
Hirokazu Nishikado                                      76,066                   12,707                     63,359
Hiroyuki Nishimura                                     431,121                   62,316                    368,805
Petronio G. Nogueira                                   523,587                   75,681                    447,906
Thomas F. Nolan                                          4,675                    3,675                      1,000
Piero Nonino                                             2,000                    2,000                          0
A J. Norris                                              3,288                    1,288                      2,000
Robert L. Northcutt                                      3,737                    3,737                          0
Francisco J. Nuez Campos                                10,580                    2,395                      8,185
Seiichiro Nukui                                        155,600                   21,980                    133,620
Mark Oakes                                              78,827                   13,078                     65,749
Matt Oakley                                             12,015                    3,441                      8,574
Jeremy Oates                                           398,919                   59,517                    339,402
Thomas O. Oblak                                         13,436                    3,732                      9,704
Patrick T. O'Boyle                                      10,842                    2,842                      8,000
John M. O'Brien                                         11,441                    3,441                      8,000
James F. O'Byrne                                       547,304                   79,108                    468,196
Geoffrey O'Connell                                       2,236                    1,000                      1,236
Frank J. O'Dea                                         424,938                   70,823                    354,115
Michael J. Orman                                         1,690                    1,690                          0
Stuart A. Orr                                           76,210                   11,339                     64,871
Bode A. Ososami                                         47,023                    8,082                     38,941
Philip Otley                                             7,358                    6,260                      1,098
Cenk O. Ozdemir                                         11,416                    2,966                      8,450
Elizabeth J. Padmore                                    12,871                    4,501                      8,370
Stephen D. Page                                        348,354                   50,350                    298,004
Massimo Pagella                                          3,515                    1,515                      2,000
Andrew R. Pahlman                                       85,266                    2,986                     82,280
Jorge Palmela                                           76,479                   11,000                     65,479
George Papageorgiou                                        845                      845                          0
Craig W. Parsell                                       156,354                   26,388                    129,966
Aseet A. Patel                                          83,627                   12,566                     71,061
Piyush M. Patel                                         11,065                    6,824                      4,241
Rich Patrick                                             3,674                    1,674                      2,000
Eric W. Patton                                           2,000                    1,000                      1,000
Gareth D. Paul                                         480,614                   60,435                    420,179
Sam A. Paul                                              3,674                    3,674                          0
Timothy A. Peacher                                       1,000                    1,000                          0
Dave M. Pearce                                          75,996                   12,637                     63,359
Mark H. Pearson                                        352,378                   50,934                    301,444
Carlos Pedranzini                                      392,615                   56,749                    335,866
David W. Pepping                                         3,082                    1,082                      2,000
Luis S. Pereira                                        438,927                   66,086                    372,841
Gonzalo Perez Gasca                                      1,890                      885                      1,005
Kathleen B. Persian                                     13,924                    5,546                      8,378
Darrell L. Petty                                         3,019                    1,019                      2,000
Antonio Pezzinga                                         3,515                    1,515                      2,000
Henning Pfaffhausen                                    323,330                   46,775                    276,555
Andreas M. Pfeifer                                     160,696                   26,827                    133,869
Kai Pfitzner                                            70,366                    9,881                     60,485
Gregory T. Phalin                                        4,080                    2,080                      2,000
Edwin M. Phanord                                        10,513                   10,224                        289
Mark D. Phillips                                        82,728                   11,667                     71,061
Giorgio Pieragostini                                     1,690                    1,690                          0
Elina I. Piispanen                                      13,329                    4,940                      8,389
Audie T. Pili                                          191,338                   27,657                    163,681
Thierry Pineau                                          16,746                   16,600                        146
</TABLE>
                                  Page 10 of 14

<PAGE>
<TABLE>
<CAPTION>
                                                                                                        Number of Class A
                                                                                                    common shares beneficially
                                                  Number of Class A        Number of Class A     owned immediately after offering
                                                     common shares           common shares          contemplated by prospectus
           Name                                   beneficially owned            offered         supplement dated September 23, 2003
           ----                                 ---------------------    ---------------------  -----------------------------------
<S>                                                  <C>                       <C>                    <C>
Guilherme J. Pinheiro                                    14,570                   10,177                      4,393
Gregory J. Pitstick                                       4,189                    2,189                      2,000
Robert C. Pitt                                          568,773                   82,210                    486,563
Ali Piyarali                                              1,805                    1,000                        805
Adan Plaza                                               10,905                    2,031                      8,874
David E. Plesko                                           2,940                      940                      2,000
John P. Poisson                                          12,819                    8,732                      4,087
Jean-Laurent Poitou                                       1,258                    1,258                          0
Chris E. Politte                                            913                      913                          0
Aloysio C. Pontes                                        61,725                   61,725                          0
Santiago R. Pordelanne                                   12,136                   12,113                         23
Blake A. Pounds                                           3,208                    3,208                          0
Friedrich J. Preiss                                     342,776                   25,219                    317,557
Juan Carlos Prieto                                      642,697                   92,897                    549,800
Barry Prince                                            400,764                   57,928                    342,836
Andreas Przewloka                                        73,519                   17,420                     56,099
Scott A. Puopolo                                            925                      874                         51
Juha J. Pylkko                                           13,458                    2,500                     10,958
Aidan Quilligan                                          88,938                   12,565                     76,373
Sadeesh Raghavan                                        411,193                   58,434                    352,759
Cheryl C. Railey                                          2,932                      932                      2,000
Paolo Raimondo                                           10,810                    2,689                      8,121
Antonio C. Ramos                                         83,157                   14,925                     68,232
Jack Ramsay                                             164,706                   32,740                    131,966
Giancarlo Ranaldi                                         3,279                    3,279                          0
D. Michael Rappeport                                      2,943                    2,943                          0
Justin Rautenberg                                        10,255                    2,121                      8,134
John R. Ray                                              12,821                    8,633                      4,188
Matthew V. Ray                                            4,317                    2,317                      2,000
Craig Rea                                               172,966                   18,000                    154,966
Bernd Recker                                            154,267                   24,301                    129,966
Michael Rehm                                            154,422                   22,692                    131,730
David Reid                                               77,722                   11,973                     65,749
Philippa Reid                                           568,380                   94,845                    473,535
Holger Reimers                                           73,980                   13,495                     60,485
Hans-Peter Remark                                       374,235                   54,551                    319,684
Gabriel Remolina O                                        9,267                    2,267                      7,000
Claude P. Remy                                           12,500                    5,000                      7,500
Rick H. Rene                                              4,775                    2,775                      2,000
Frank Rennekamp                                          10,570                    2,458                      8,112
Gavin H. Rennie                                         392,495                   56,732                    335,763
C. Ann Rettie                                             2,311                    2,311                          0
Scott S. Revare                                           2,667                    2,667                          0
Bernhard Rheinberger                                     79,576                   11,217                     68,359
Francisco J. Ribeiro                                     87,460                   12,354                     75,106
Daniel F. Rice                                            2,175                    2,175                          0
Paul Richardson                                          76,520                   10,771                     65,749
Seth W. Richman                                          11,810                    1,810                     10,000
Jeffrey M. Riedel                                         4,128                    2,062                      2,066
Frank Riemensperger                                     413,949                   59,834                    354,115
Christopher S. Rigg                                      11,934                    3,556                      8,378
Thomas Riggert                                          544,830                   78,750                    466,080
Michael M. Riley                                          7,908                    7,630                        278
Cato W. Rindal                                           11,949                   11,701                        248
Timothy A. Ringo                                         10,761                    9,220                      1,541
Robert M. Ritchie                                        70,365                   11,880                     58,485
Stephen S. Roatch                                         1,000                    1,000                          0
James A. Robbins                                          1,933                    1,933                          0
Rick Robbins                                              3,196                    2,926                        270
David T. Roberts                                         10,897                    2,897                      8,000
Gregory C. Roberts                                       12,421                    1,112                     11,309
Neville Roberts                                          87,804                    6,931                     80,873
Peter Roberts                                           176,627                  150,000                     26,627
Jon Robertson                                            67,254                   12,130                     55,124
Timothy Robinson                                          2,310                    2,310                          0
Roger Jupp                                               83,080                   83,080                          0
John G. Rogers                                            2,000                    1,000                      1,000
Alessandro Rossi                                         10,584                    2,472                      8,112
David A. Rossi                                            2,667                    2,667                          0
Marco Rotondo                                            10,867                    2,680                      8,187
David M. Rouls                                            9,872                    2,922                      6,950
Jeremy P. Rowe                                           76,065                   10,706                     65,359
Mark G. Rowlands                                         77,418                   12,547                     64,871
Carl Rubin                                               10,224                    9,848                        376
Michael D. Rudin                                          2,640                    2,640                          0
Michael Rundshagen                                       62,866                    6,936                     55,930
Christopher Rupp                                         70,831                   15,707                     55,124
Jeffrey S. Russell                                       13,963                    5,766                      8,197
</TABLE>
                                  Page 11 of 14

<PAGE>
<TABLE>
<CAPTION>
                                                                                                        Number of Class A
                                                                                                    common shares beneficially
                                                  Number of Class A        Number of Class A     owned immediately after offering
                                                     common shares           common shares          contemplated by prospectus
           Name                                   beneficially owned            offered         supplement dated September 23, 2003
           ----                                 ---------------------    ---------------------  -----------------------------------
<S>                                                  <C>                       <C>                    <C>
Michael J. Russell                                        3,019                    1,019                      2,000
R. Paul Russell                                         507,004                  100,000                    407,004
Carlos E. Rust                                           58,661                    9,923                     48,738
Kate Rutherford                                         359,752                   52,000                    307,752
Christopher R. Rutledge                                   1,845                    1,845                          0
Mark J. Ryan                                            465,502                   67,283                    398,219
Shane B. Ryan                                           383,039                   66,793                    316,246
Luis J. Sa Couto                                        684,611                  100,705                    583,906
Andres E. Sadler                                          2,917                    2,917                          0
Graciela Salgado Sarria                                  92,484                   19,378                     73,106
Sudarshan Sampathkumar                                  105,309                   14,932                     90,377
Katherine J. Sample                                      88,938                   13,443                     75,495
Liv G. Sandbaek                                         100,844                   20,000                     80,844
Joao C. Santos                                           11,056                   10,877                        179
Paulo Santos                                            324,928                   48,373                    276,555
Maria J. Sanz Jimenez                                    10,629                    2,444                      8,185
Akihiko Sato                                            498,561                   42,783                    455,778
Tsuyoshi Sato                                            12,628                   12,095                        533
Michael Sauter                                          159,288                   10,000                    149,288
Peter Scharf                                             10,575                    4,547                      6,028
Jose R. Schettino Mattos                                458,636                   66,292                    392,344
Ricardo Scheuer                                         373,748                   54,023                    319,725
John H. Schmidt                                           3,266                    1,266                      2,000
Jan L. Schotte                                           70,366                    9,881                     60,485
Rikard Schroeder                                          9,970                    5,771                      4,199
Dirk Schuerbuescher                                      11,683                    3,430                      8,253
Andreas H. Schuler                                       10,168                    1,915                      8,253
Michael X. Schulz                                        57,817                    8,079                     49,738
Rolf Schulz                                             548,548                   79,288                    469,260
Pablo D. Schuster                                        81,761                   11,529                     70,232
Marc Schuuring                                            2,929                      711                      2,218
Thomas D. Schwenger                                       5,628                    2,900                      2,728
Charlene A. Scott                                        58,973                    8,235                     50,738
Cheryl A. Scott                                           1,690                    1,690                          0
M. Andrew Seikel                                          2,940                      940                      2,000
Ryoji Sekido                                            153,925                   21,959                    131,966
Robert E. Sell                                            2,332                    2,332                          0
Douglas W. Sellers                                        3,019                    1,019                      2,000
Takayasu Senba                                           80,012                   14,653                     65,359
John S. Sepple                                            3,982                    1,982                      2,000
Ralph P. Seraphim                                        81,761                   13,529                     68,232
Jonas Serlachius                                          1,000                    1,000                          0
Ameet A. Shah                                           390,205                   47,369                    342,836
David P. Shatto                                           3,064                    3,064                          0
George P. Shaw, Jr                                        2,444                    2,444                          0
Takashi Shimodoi                                        459,950                   66,482                    393,468
Sean Shine                                              418,469                   60,487                    357,982
Aram E. Shishmanian                                     441,667                   30,000                    411,667
Clive L. Shore                                           11,785                    3,544                      8,241
Richard S. Siber                                          2,639                    1,500                      1,139
Todd A. Sickles                                           8,466                    5,500                      2,966
Julianto Sidarto                                         56,013                    5,687                     50,326
James J. Sikora                                           3,476                    2,991                        485
Kenneth S. Silbert                                       13,890                    5,676                      8,214
Markku T. Silen                                         366,159                   63,976                    302,183
Afonso Silva                                             69,366                   10,881                     58,485
Andrew J. Simmonds                                      500,060                   70,000                    430,060
Rui R. Simoes                                            58,662                    9,924                     48,738
Vasco Simoes                                            153,925                   21,959                    131,966
Thomas M. Simoneau                                        2,756                      756                      2,000
Catherine M. Simons                                       2,972                    1,972                      1,000
David C. Simpson                                        655,420                   94,734                    560,686
Steven M. Singer                                          6,500                    3,000                      3,500
Witold Sitek                                              2,000                    2,000                          0
Julian Skan                                              92,368                   14,046                     78,322
Fraser Skirrow                                          356,171                   51,481                    304,690
Sigurd Skjaeveland                                        1,000                      500                        500
Richard L. Sklarin                                        1,763                    1,763                          0
Ole Skov                                                415,211                   60,000                    355,211
Jill B. Smart                                             3,205                    3,205                          0
Roland Smertnig                                          59,910                    9,172                     50,738
Jan-Coen Smit                                            99,521                   14,667                     84,854
Iain S. Smith                                           400,764                   57,928                    342,836
Nigel Smith                                             169,790                   16,064                    153,726
Richard R. Smith                                          3,904                    3,904                          0
William S. Smith                                          2,000                    2,000                          0
Robin D. Smyth-Osbourne                                 446,084                   64,478                    381,606
Larry M. Socher                                           4,446                    4,446                          0
</TABLE>
                                  Page 12 of 14

<PAGE>
<TABLE>
<CAPTION>
                                                                                                        Number of Class A
                                                                                                    common shares beneficially
                                                  Number of Class A        Number of Class A     owned immediately after offering
                                                     common shares           common shares          contemplated by prospectus
           Name                                   beneficially owned            offered         supplement dated September 23, 2003
           ----                                 ---------------------    ---------------------  -----------------------------------
<S>                                                  <C>                       <C>                    <C>
Scott W. Softy                                            10,488                  10,488                          0
Jon D. Solomon                                            11,478                  11,464                         14
Lawrence F. Solomon                                        2,000                   2,000                          0
Pekka Somppi                                              57,727                   9,067                     48,660
Sham Soobiah                                              70,366                   9,881                     60,485
Claudio Sousa                                             58,662                   9,924                     48,738
M. Scott Sparks                                           10,209                  10,005                        204
Marco Spaziani Testa                                      10,890                   2,680                      8,210
Mark G. Spelman                                          708,269                 100,000                    608,269
Allan P. Spence                                          423,067                  61,200                    361,867
Michael J. Spencer                                       383,208                  55,391                    327,817
Thomas H. Spurr                                           13,041                   4,607                      8,434
David Squire                                             425,372                  93,467                    331,905
Patrick J. St. James                                      12,551                   6,320                      6,231
Timothy J. Staley                                          1,941                   1,941                          0
Reinhold Stammeier                                       312,585                  45,182                    267,403
Andrew Starrs                                            402,579                  50,000                    352,579
Joel A. Stern                                              3,465                   1,465                      2,000
Marcelo D. Sternberg                                     562,146                  81,253                    480,893
Jeffrey A. Stocker                                         2,978                     978                      2,000
Manfred Stoll                                            560,951                  20,000                    540,951
Jeffrey H. Stout                                           3,761                   1,761                      2,000
Willem Strauss                                           483,886                  69,943                    413,943
Andrew J. Sullivan                                        12,606                   4,261                      8,345
John A. Sundean                                            3,848                   1,848                      2,000
Alfredo P. Surroca Martin                                  5,959                   5,774                        185
Karl Sussebach                                           145,065                  13,099                    131,966
Toshimasa Suzuki                                         524,533                  37,587                    486,946
Philip W. Swallow                                        499,525                  72,202                    427,323
Tomokazu Takeda                                           12,650                  12,117                        533
Nobuyoshi Takuma                                          77,154                  10,141                     67,013
Marcello Tamietti                                         10,191                   5,981                      4,210
Charles Tan                                              140,327                  10,960                    129,367
Judy S. Tan                                               48,606                   2,500                     46,106
Kazushi Taniguchi                                        336,353                  39,583                    296,770
Esther Tarres                                             11,607                   3,333                      8,274
Joao P. Tavares                                           81,217                   4,000                     77,217
Joao A. Tavares                                          155,946                  25,980                    129,966
Richard J. Taylor                                        506,412                  76,869                    429,543
Roxanne Taylor                                             3,086                   1,086                      2,000
Stuart W. Taylor                                         410,824                 100,000                    310,824
Vincent Taylor                                             1,690                   1,690                          0
Bernardus Ter Braak                                      374,651                  12,000                    362,651
Yoshimasa Terada                                          72,182                  11,697                     60,485
Enrico Terenzoni                                           3,579                   1,180                      2,399
Philippe Terol                                             3,705                   3,705                          0
Rainer W. Teschner                                       440,439                  54,628                    385,811
Nam Y. Thean                                              13,334                   4,874                      8,460
Gerhard P. Thomas                                        361,014                  52,182                    308,832
Glenn J. Thomas                                           13,487                   3,055                     10,432
J. Dil Thomas                                            581,273                  84,018                    497,255
Bryce B. Thompson                                         13,595                   5,352                      8,243
Steve J. Thomson                                          13,079                   1,704                     11,375
Gregory A. Thorson                                         2,978                     978                      2,000
Carl-Peter Thorwid                                        10,066                   1,771                      8,295
Nils E. Thuden                                             2,000                   2,000                          0
Douwe D. Tideman                                          19,260                  11,210                      8,050
Barbara H. Titzrath                                       82,101                  13,869                     68,232
Junya Tomatsuri                                           81,451                  13,219                     68,232
Takashi Tominaga                                         154,324                  23,358                    130,966
Masao Tomomune                                           145,460                  10,000                    135,460
Philip M. Toomey                                         880,982                 200,000                    680,982
Makoto Toyoda                                            311,540                  45,032                    266,508
William L. Trafton                                        14,588                   4,000                     10,588
Mike S. True                                             356,171                  51,481                    304,690
Jack Tsai                                                 64,921                   7,000                     57,921
Yasuhiko Tsuchida                                         70,366                   9,881                     60,485
Brett A. Turner                                           88,973                  12,997                     75,976
Harold C. Turner                                           2,964                     964                      2,000
Carlo A. Uchello                                          10,543                  10,180                        363
Tomomi Ukaji                                               3,158                   1,647                      1,511
Martin D. Ullyatt                                         79,966                  12,750                     67,216
Olav S. Ulvund                                            12,720                  12,320                        400
Keiichi Unno                                             528,257                  76,355                    451,902
Arnold R. Urson                                          439,709                  63,556                    376,153
J. Michael Urtso                                           2,999                   2,999                          0
Ushio Usami                                              392,615                  56,749                    335,866
Sajid Usman                                                4,486                   2,044                      2,442
</TABLE>
                                  Page 13 of 14

<PAGE>
<TABLE>
<CAPTION>
                                                                                                        Number of Class A
                                                                                                    common shares beneficially
                                                  Number of Class A        Number of Class A     owned immediately after offering
                                                     common shares           common shares          contemplated by prospectus
           Name                                   beneficially owned            offered         supplement dated September 23, 2003
           ----                                 ---------------------    ---------------------  -----------------------------------
<S>                                                  <C>                       <C>                    <C>
Maud M. van den Meiracker                                 10,723                   2,497                      8,226
Luc Van der Biest                                        331,239                  47,878                    283,361
Edwin Van der Ouderaa                                    155,324                  23,358                    131,966
Julienne Van Der Ziel                                      2,000                   1,000                      1,000
Michel A. van Rosendaal                                   70,366                   9,881                     60,485
Jeffrey G. VanWie                                          1,768                   1,768                          0
Nam-Ung Vaque                                             67,321                   9,176                     58,145
Stephen A. Varley                                         66,014                  10,890                     55,124
Andrew J. Vautier                                         85,667                  14,606                     71,061
Hendrik J. Velders                                       372,165                  20,000                    352,165
Bernd Venohr                                             392,990                  50,000                    342,990
Pallavi Verma                                              4,924                   1,245                      3,679
Marco Vernocchi                                           10,395                   2,263                      8,132
Eric R. Veron                                              1,258                   1,258                          0
Paulo V. Vicente                                          70,976                  10,491                     60,485
Gary Vickers                                             142,367                  12,401                    129,966
John Vickery                                               8,978                   5,621                      3,357
Davide Vignotti                                            2,700                   1,005                      1,695
Jose C. Villela                                          346,913                  50,143                    296,770
Gil J. Vogel                                              11,757                   3,757                      8,000
L. Thomas Vogel                                            2,000                   2,000                          0
Toennies-Hilmar Von Donop                                325,378                  47,031                    278,347
Hans G. von Lewinski                                      66,928                   6,700                     60,228
Jos I. Vranken                                            83,879                  13,647                     70,232
Marc A. Vrouenraets                                      341,990                  49,433                    292,557
Sergio F. Vulej                                          451,303                  65,232                    386,071
Charles J. Waeltz                                         14,061                   6,044                      8,017
Salman Wakil                                               2,549                   1,049                      1,500
Peter D. Warasila                                          3,548                   2,828                        720
Michael L. Ward                                          582,706                 175,000                    407,706
Richard A. Warner                                         77,364                  11,615                     65,749
Henrique L. Washington                                   355,945                  51,449                    304,496
Ian Charles Watmore                                      801,531                 176,118                    625,413
Doug F. Watson                                            13,301                   5,026                      8,275
Olaf Wehrkamp                                             58,973                   8,235                     50,738
Peter Weigert                                            489,539                  73,573                    415,966
Sean Weir                                                168,498                   1,064                    167,434
Hugo G. Were                                             447,683                  35,000                    412,683
Stephan Werthschulte                                      10,147                   1,915                      8,232
Andrew D. West                                            86,998                  10,000                     76,998
Richard T. Wheeler                                         1,770                   1,770                          0
James F. Whelan                                           11,464                   3,000                      8,464
Scott B. White                                            12,386                   4,386                      8,000
Simon J. Whitehouse                                      521,830                  75,426                    446,404
Gregor Wick                                               87,459                  14,353                     73,106
Angus G. Wildblood                                        77,179                  11,430                     65,749
Harry Wildeboer                                           11,362                   3,212                      8,150
Richard J. Wildman                                       481,366                  69,577                    411,789
Andy M. Williams                                           2,968                     968                      2,000
Simon C. Williams                                        168,819                  25,156                    143,663
Kelly Wilson                                              10,814                   2,273                      8,541
Paul R. Wilson                                            77,791                  10,771                     67,020
Todd S. Wilson                                             3,648                   3,648                          0
Ole Winberg                                              157,470                  24,132                    133,338
Larry A. Winter                                            2,587                   2,587                          0
Robert E. Wollan                                           2,621                   2,621                          0
James P. Wong                                             76,658                  10,000                     66,658
Pauline M. Wood                                          107,569                  16,698                     90,871
Mark A. Wozniak                                           12,381                  12,045                        336
Steve Wylie                                               84,362                  10,452                     73,910
Graham L. Wyllie                                          75,520                  10,771                     64,749
Peter H. Yen                                              78,412                  14,418                     63,994
Masahiro Yoshida                                         349,918                  40,000                    309,918
Mark P. Younger                                          457,913                 100,000                    357,913
Noor A. Zainal Abidin                                     60,528                  11,765                     48,763
Luis F. Zaninetti                                         14,765                   4,940                      9,825
Ignacio Zapater                                           10,241                  10,020                        221
Stephen Zatland                                           11,910                   3,706                      8,204
John K. Zealley                                          458,365                  48,000                    410,365
Patrick T. Zelten                                          3,004                   1,004                      2,000
Daniel C. Zimmerman                                       11,932                   3,500                      8,432
Jorge Zino Gutierrez                                      12,112                  12,112                          0
GL Zunker                                                  2,468                     468                      2,000
Debbie M. Zwane                                           70,057                   9,572                     60,485
</TABLE>
                                  Page 14 of 14




</TEXT>
</DOCUMENT>
</SUBMISSION>
