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					Tamro Group Interim Report January-June 2003


CONTINGENT LIABILITIES
                                               30.6.      30.6.      31.12.
(€m)                                           2003        2002        2002
  Property mortgages                             1.6       23.6        15.7
  Pledges                                        0.8       76.8        73.2
  Guarantees for others                         13.0       14.9        15.6
  Other commitments                             19.2       12.9        20.3
                                                34.6      128.2       124.8


DERIVATIVE FINANCIAL INSTRUMENTS
                                               30.6.       30.6.     31.12.
(€m)                                           2003        2002       2002
Derivatives - notional amounts
Currency instruments
   Currency forward contracts                 180.6        97.4       141.6
Interest rate instruments
   Interest rate swaps                           20          10        10.0

Derivatives - market value
Currency instruments
   Currency forward contracts                   -1.1         0.3       -0.7
Interest rate instruments
   Interest rate swaps                          -0.4           0       -0.1

The notional amounts of derivatives summarised here do not represent amounts actually exchanged between the p
ounts actually exchanged between the parties and are thus not a measure of Tamro’s derivatives-related exposure.
erivatives-related exposure.

				
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