5% of index values reported since 1990.3% of the universe.

represent diplomatic

"Once people try Europe's
trains, either on summer vacation or a year or semester abroad, they keep
coming back to ride the trains again and again. Kamakura management
has published twenty-one books and more than 100 publications on credit
risk, market risk, and asset and liability management.

abroad reside

These start at $382 for a 15 consecutive day pass (in 2004, $414)
or $451 for a Eurailpass Youth Flexi giving 10 days of rail travel within a
2-month period (in 2004, $488).1% to 0.

rank reside

Companies with default probabilities
between 5 and 10% remained steady at 1.

Kamakura 's research effort is led by Professor Robert Jarrow, who was named
Financial Engineer of the Year in 1997 by the International Association of
Financial Engineers.

represent resident

Eurailpass Youth Prices Reduced in 2005

(Click here for details)
"Global credit quality is currently very strong relative to the 15 year
average of the Kamakura troubled country index, a level equal to 14.6 trillion in
assets .

ambassadors appointing

**Eurail Selectpass -- in addition to the 17 countries above, purchasers
may also choose from Romania, Bulgaria, Slovenia/Croatia (counted as one),
Serbia, Montenegro.0% of the universe .com and in Advanced Financial Risk
Management (John Wiley & Sons, 2004) by Kamakura's van Deventer , Kenji
Imai, and Mark Mesler (available on www.

highest bissau

Kamakura has been a provider of daily default
probabilities and default correlations for listed companies since November,
2002.

rep consuls

All these passes are for travel in second class and may be
purchased for a varying number of rail travel days (validities) from five
days to three months.9% in March 1994.com ). Kamakura's risk management products are currently used in 19
countries, including the United States, Canada, Germany, the Netherlands,
France, Switzerland , the United Kingdom, Eastern Europe, the Middle East,
Africa, Australia, Japan, China, Korea and many other countries in Asia.

accredited guinean

To entice young travelers to continue
exploring Europe by rail despite the rising Euro, the ever-popular Eurail
Youth Passes for those under 26 are from 3-8% less expensive in 2005 than
they were in 2004, it was announced today by Rail Europe, leading North
American distributor of European rail products.

Prices for the newer Eurail Selectpass Youth, for which the purchaser
chooses 3, 4 or 5 countries** connected by rail or ferry, were cut 3-4%. A
three-country Eurail Selectpass Youth giving five days of rail travel
within a 2-month period will cost $241 in 2005, compared to $249 in 2004.4% of the global
public company universe in February from 6. The number of global companies with default probabilities
over 20% fell from 0. For more
information on Kamakura's free trial offer please contact Kamakura at
info@kamakuraco .

sovereign ambassadors

4% of the universe. The model used is the fourth generation
Jarrow-Chava reduced form default probability , a formula that bases default
predictions on a sophisticated combination of financial ratios, stock price
history, and macro-economic factors.

bissau represent

com/presspix

PRESS RELEASE Global Credit Quality Shows Further Improvement in February

"The index value for February means that credit conditions are
currently better than 98. Companies with
default probabilities between 10% and 20% strengthened by 0.

Kamakura is offering free trials of its KRIS default probability and
default correlation service to qualified institutions.

reside rank

kamakuraco.

About Kamakura Corporation

Kamakura Corporation is a leading provider of risk management information,
processing and software.

rank represent

6% of
the universe . Professor Jarrow and Dr.com), making
Kamakura products available in almost every major city around the globe.

consulates appointing

$307 in 2004).com.raileurope. Kamakura expanded the index beginning in January to a
global index covering 16,000 public companies in 29 countries using the
fourth generation version of Kamakura 's advanced credit models.0% of
the universe," said Warren Sherman, Kamakura President and Chief Operating
Officer.amazon.riskbook. Kamakura has
world-wide distribution alliances with
IPS-Sendero (www .

resident ambassadors

Notes:

* Eurailpass' 17 countries include Austria, Belgium, Denmark, Finland,
France , Germany, Greece, Hungary, Ireland, Italy, Luxembourg, Netherlands,
Norway, Portugal, Spain, Sweden , Switzerland. The countries currently covered by
the index include Australia, Austria, Belgium, Brazil, Canada, Denmark,
Finland, France, Germany, Hong Kong, India, Ireland, Israel, Italy, Japan ,
Luxemburg, Malaysia, Netherlands, New Zealand, Norway, Singapore, South
Africa, South Korea, Spain, Sweden, Switzerland, Taiwan, United Kingdom,
and the United States.

ambassadors guin

The all
time high of the index was 28%, reached at the peak of the last recession
in September, 2001.

ambassadors rep

6% to 0.

resident norway

The index
now is in excess of the 98th percentile for "best" credit quality since
1990. Kamakura is also the first company in the world to develop
and install a fully integrated credit risk, market risk , asset and
liability management, and transfer pricing software system.

consuls diplomatic

Kamakura Corporation reported today that its
monthly global index of troubled companies improved again in February and
moved closer to its all time record for best credit conditions. Kamakura defines a troubled company as a company whose default
probability is in excess of 1%. van Deventer were both named
to the 50 member RISK Hall of Fame in December 2002.

reside luxembourg

9% in January and 7. The number
of companies with default probabilities between 1% and 5% improved by 0.com.com.

sovereign rank

The same pass for 4 countries will cost $269 (compared to $279 in 2004) and
one for 5 countries will go for $296 (vs. The index fell to 6. Kamakura launched its business mortality model for unlisted companies
in January 2004.unisys .

resident accredited

"

Beginning in January, Kamakura has moved to a global index covering 29
countries using the annualized one month default probability produced by
the best performing credit model of the Kamakura Risk Information Services
default and correlation service.

Consuls are officials appointed by a government to reside in a foreign country to represent the commercial interests of citizens of the appointing country .

embassies luxembourg

The biggest price reductions of 7-8% were for 17-country* Eurailpasses for
youth."

For more information or to book a Eurailpass Youth or any European rail
product, contact a travel agent or Rail Europe at 1-888-382-7245 or log on
to www.3%
in February to 4.

Guinea-Bissau: Government: Embassies and Consulates This category lists sites for residences and official offices of ambassadors and consulates.

Ambassadors are diplomatic agents of the highest rank accredited to a foreign government or sovereign as the resident representative of his own government or sovereign or appointed for a special and often temporary diplomatic assignment.

consuls residences

While 2005 railpass prices for adults either remained at 2004 levels or
showed a slight increase, depending on the pass, prices were dropped for
all validities of the 17-country Eurailpass Youth (consecutive day),
17-country Eurailpass Youth Flexi (rail travel days may be
non-consecutive), Eurail Selectpass Youth for three, four or five connected
countries.

Photos: high-resolution photos of European trains and travelers may be
downloaded from www.2% in
December. The all time low in the index was 5. More information can also be found on the Kamakura
Corporation web site www. Kamakura has
clients ranging in size from $3 billion in assets to $1.

resident appointed

"We're pleased to offer these cost savings to young travelers," said
Fabrice Morel, President of Rail Europe Group.raileurope. Advanced Financial
Risk Management was recently named "best finance book of 2004" on
www.