AIF CLIENTS BY ALPHABET

Danish Agency for Trade and Industry (Denmark)
Danish Shipowners' Association (Denmark)
Danmarks Nationalbank (Denmark)
Danske Bank (Denmark, Norway)
Danske Capital (Norway)
DB&S
Debt Management Office (Nigeria)
Decibel Entertainment (U.S.A.)
Defense Systems Management College (U.S.A.)
DEG - Deutsche Investitions- und Entwicklungsgesellschaft (Germany)
DEGW (U.K.)
Dekabank (Germany)
De Lage Landen International
Dell Computer Corporation (Japan)
Deloitte (Germany, Hungary, Kazakhstan, Kenya, Netherlands, Poland, Russia, Switzerland, U.K.)
Delta Lloyd
Demir-Halk Bank
Den Danske Bank (Denmark)
Department of Finance (South Africa)
DEPFA-Finance
Detecon International (Germany)
Deutsche Bank (Argentina, France, Italy, Netherlands)
Deutsche Bundesbank (Germany)
Dexia Bank (Belgium, Luxembourg, Netherlands)
Dhana Siam Finance & Securities (Thailand)
DHV Consultants
Diamond Bank (Nigeria)
DiBa Allgemeine Deutsche DirektBank (Germany)
Dioki (Croatia)
DnB NOR (Norway)
DOEN Participaties
Dole Europe (France)
Dorsch Consult (Germany)
Double Effect
Dow Corning (U.S.A.)
Dow Europe (Switzerland)
Dr. Yener Sonusen (Turkey)
Dräger Safety (Germany)
Draka Holding
DRDGOLD (South Africa)
Dredging International (Belgium)
Dresdner Kleinwort Wasserstein (U.K.)
Drewry Shipping Consultants (U.K.)
Drueker & Co. (Germany)
DSM
Duff & Phelps
Dura Vermeer
DVB Bank (Greece, Hong Kong, Netherlands, Norway, Singapore, U.K., U.S.A.)
Dynagest (Switzerland)

EADS Deutschland (Germany)
Eastman Chemical
EasyJet (U.K.)
Eesti Pank (Estonia)
ECN, Netherlands Energy Research Foundation
ECORYS
EDC, Export Development Corporation (Canada)
E Energija (Lithuania)
Effectenbank Stroeve
EFG (Greece, U.K.)
Egorov, Puginsky, Afansiev & Partners (Russia)
Eirgrid (Ireland)
EKO (Croatia)
Eksport Kredit Fonden (Denmark)
Elan Corporation (Ireland)
Electrabel
Electricity Regulatory Authority (Uganda)
Elektrizitäts-Gesellschaft Laufenburg (Switzerland)
Electricity and Cogeneration Regulatory Authority (Saudi Arabia)
Electrolux (Switzerland)
Elkem (Norway)
Elmwood Capital (U.S.A.)
Elsag (Italy)
Elsam Engineering (Denmark)
Elsevier Science
Embry-Riddle Aeronautical University (U.S.A.)
Emporiki Bank (Greece)
Endemol Entertainment
Endesa S.A. (Spain)
ENECO
Enel (Italy)
E Energija (Lithuania)
Enertel
Eni (Italy)
Enskilda Securities (Sweden)
EnterCard (Sweden)
Entrepreneurs Fund
E.On Benelux
Epsilon Capital (India)
Eptafund (Italy)
Equant (Netherlands, U.K.)
Equinet (Germany)
Erasmus Universiteit Rotterdam
ERB, Electricity Regulatory Board (Kenya)
Erhvervsfremme Styrelsen (Denmark)
Ericsson (Sudan)
Ericsson Telecommunicatie
Ernst & Young (Belgium, Germany, India, Netherlands, Netherlands Antilles, Russia, Sweden, Turkey, U.K.)
ESA, European Space Agency
ESADE (Spain)
ESCP-EAP, European School of Management (U.K.)
Eskom Holdings (South Africa)
Espirito Santo Resources (Switzerland)
Essent
Eubelius (Belgium)
Euler Hermes
EUMETSAT, European Organisation for the Exploration of Meteorological Satellites (Germany)
EURAL (Belgium)
EURESAS, European Center for the Aerospace and Aviation Industries (France)
EurExcel (Vietnam)
Eurohypo (Germany)
Euronext N.V.
European Bank for Reconstruction and Development (U.K.)
European Central Bank (Germany)
European Investment Bank (Luxembourg)
European Investment Fund (Luxembourg)
Euroventures Ukraine (Ukraine)
EUTELSAT, European Telecommunications Satellite Organization (France)
EVD
EVC (Belgium)
EvrazHolding (Russia)
Evrofinance (Russia)
Executive Privatization Commission, The (Jordan)
Expedia (U.S.A.)
Extent
ExxonMobil

F9 Consulting (Portugal)
F& C Investements (U.K.)
Fakton
Falco Electronics (U.S.A.)
FAO, Food and Agriculture Organization of the United Nations (Italy)
Farmaceutisch Beheer
Farzan Rad Consulting (FRC) (Iran)
Federal Airports Corporation (Australia)
Federal Land Bank (U.S.A.)
Federal Mortgage Bank of Nigeria (Nigeria)
Ferrero International (Luxembourg)
Fidelity Capital Partners (Ghana)
Fielmann (Germany)
FIMAN, International Management Foundation (Romania)
Financial Trading and Consultancy (U.K.)
Financieele Dagblad, Het
Finansbank (Belarus, Bulgaria, China, Germany, Latvia, Moldova, Romania, Russia, Turkey, Ukraine, Uzbekistan
Finanstilsynet, Danish Financial Supervisory Authority (Denmark)
Flexsys Coordination Center (Belgium)
Flow Game Comany, The (Portugal)
Flow International Corporation (Sweden)
FM Global (U.K.)
FMO, Finance for Development
Folksam (Sweden)
Ford Motor Company (U.S.A.)
Fortis (Austria, Australia, Belgium, China, France, Germany, Hong Kong, Hungary, Italy, Luxembourg, Netherlands, Poland, Portugal, Singapore, Spain, Taiwan, Turkey, U.K., USA)
Fortis Meespierson
Fourtrust Raadgevers
Fox Investments (Brazil)
Frankfurter Hypothekenbank Centralboden (Germany)
Frans Maas Group, Koninklijke
Fraser Papers (U.S.A.)
Fredhopper
Freshfields Bruckhaus Deringer (Germany, Netherlands)
Friedberg Oudendijk
Friesland Bank
Fry & Bonthrone, Language Consultancy and Services (Germany)
Fugro
Fuhri Snethlage Joosten & Flohil

GA Finance Services
Gamma Holding
Gartner
GE Artesia Bank
GE Capital Europe
GED Capital Development (Romania)
Gelsenwasser (Germany)
Gemco Engineers
General Leasing & Finance Company (Ghana)
Generations Investments (U.S.A.)
Geniki Bank
Georgia-Pacific International (U.K.)
Gestion
Getronics
GHK International (Slovakia)
GIC, Government of Singapore Investment Corporation (Singapore)
Gilde Investment Management
Glastad Invest (Norway)
Global Finance Beratungs (Germany)
Global Strategic Investment Fund (Taiwan)
Golden Telecom (Russia)
Goodbody Corporate Finance (Ireland)
Gopa Consultants (Bulgaria)
Goudse Verzekeringen, De
GPT Halverton (U.K.)
Grafische Bedrijfsfondsen (GBF)
Grand Metropolitan (U.K.)
Grant Samuel & Associates (New Zealand)
Graydon
Greenfee
Greenfield Capital Partners
Greenproc
Grisard Management (Switzerland)
Grolsch Bierbrouwerij
Grupo Asegurador de "La Caixa" (Spain)
Grupo Visabeira (Portugal)
Gudme Raaschou, Securities (Denmark)
Gulf Investment Corporation (Kuwait)
Gulf Investment House (Kuwait)
GVA Grimley (U.K.)

H2 Equity Partners
Hagemeyer Services
HAL Investments
Halder Beteiligungsberatung (Germany)
Halder Invest
Hansabank (Estonia, Lithuania)
Happy World (Mauritius)
Haskoning, Royal Dutch Consulting Engineers and Architects
HBH Corporate Finance
Heerema Offshore Construction Group
Heijmans
Heineken
Helaba (Germany)
Helsinki Business School (Finland)
Heras Nederland
Hewlett Packard (Netherlands, Spain, U.S.A.)
HEX, Helsinki Exchanges (Finland)
Hirbodan Management Company (Iran)
Hoechst Schering AgrEvo (Germany)
Holland Corporate Finance
Honeywell
Hogeschool van Utrecht
Hoogovens, Koninklijke
Hotel School the Hague
Houthoff & Buruma
HSBC (Pakistan, South Africa, U.K.)
HT - Hrvatske Telekomunikacije (Croatia)
Hunter Douglas
HVB Bank (Ireland)
Hyder (U.K.)
Hypo Alpe-Adria-Bank (Croatia)
HypoVereinsbank (Germany, Ukraine)

i2i Group (United Arab Emirates)
Iberdrola (Spain)
Ibersecurities (Spain)
IBM Consulting Services (Italy)
IDC, Industrial Development Corporation (South Africa)
Van Iersel Luchtman
IFC, International Finance Corporation (U.S.A.)
IFU (The Industrialisation Fund for Developing Countries)
IIC (Japan)
IKB Deutsche Industriebank (Spain)
IKANO Advisory Management (Luxembourg)
IKEA (Belgium, Romania)
IKEA Hanim (Poland)
ILG, Inversiones lo Gallardo (Chile)
Ilmarinen Mutual Pension Insurance Company (Finland)
Imation
IMC
IMS
Independent Capital Partners
Independent Project Analysis
Indover Bank
Infineon Technologies (Germany)
ING (Australia, Belgium, Brazil, Bulgaria, Czech Republic, Italy, Luxembourg, Mexico, Netherlands, Peru, Romania, Slovakia, Spain, South Africa, U.K.)
Innova Capital (Poland)
Inreturn
Insinger de Beaufort
Institute of Management Resources (France)
Instituto Superior de Economia e Gestão (Portugal)
Integrated Business Consultancy
Inter-American Development Bank (U.S.A.)
Inter-American Investment Corporation (U.S.A.)
Interbeton
Interbrew
InterCapital Securities (Croatia)
InterMaat
International Bank Liberia (Liberia)
International Bureau of Fiscal Documentation
International Criminal Court
International Mezzanine Capital
International Monetary Fund (U.S.A)
International Moscow Bank (Russia)
International Trust Insurance (Lebanon)
Interpolis
Intrinsic Value Investors (UK)
Investec (South Africa)
Investment & Marketing Group (U.S.A.)
Investor Companion
Iran-United States Claims Tribunal
Irdeto
Ireland, Wallace & Associates Limited (New Zealand)
IRIS, Institute for Research and Investment Services
Irish Life Investment Managers (Ireland)
Islamic Finance Consulting
IUCN, The World Conservation Union (Switzerland)
I Viaggi Del Ventaglio (Italy)

JAG, Jean Abile-Gal Cote d'Ivoire (Ivory Coast)
James Hardie International
Japan Securities Investment Advisers Association (Japan)
JBR
Johnson Controls - IFM
Jonker Advies
Jonker Joëll Registeraccountants
JP Capital International (U.K.)
J.P. Kenny (U.K.)
JP Morgan (Germany, U.K.)
JSB Gazprombank (CJSC) (Russia)
JSC Nizhnekamskshina (Russia)
JT International (Netherlands, Switzerland)

KAS Bank
"Kazanorgsintez", Joint Stock Company (Tatarstan)
Kayak Software Corporation
KBC Bank (Belgium, Germany, Netherlands)
KDI School of Public Policy and Management (Korea)
KEMA
Kempen Capital Management
Kennecott Corporation (U.S.A.)
Kerala State Bank (India)
KFW Bankengruppe (Germany)
Kiev International Bank (Ukraine)
Kipco Asset Management (Kuwait)
Kleinwort Benson (U.K.)
Kliq Groep
KLM Royal Dutch Airlines
Koç Yatirim Menkul Degerler (Turkey)
Komercijalna Banka ad Beograd (Serbia)
Kondor Wessels Projecten
Kone Elevators (Germany)
Koninklijke Friesland Foods
KDB - Korea Development Bank (South Korea)
KDI School of Public Policy and Management
KPMG (Germany, Italy, Luxembourg, Netherlands, Russia, U.K.)
KPN
Kraft Foods (Ukraine)
Kredittilsynet (Norway)
KRS Utility Services (U.K.)
Kuwait Finance House (Kuwait)
Kuwait Financial Centre (Kuwait)
Kuwait Institute for Scientific Research (Kuwait)
Kuwait Investment Authority (Kuwait)
Kuwait Petroleum Corporation (Kuwait)
KVAZAR-Micro (Ukraine)

Lahmeyer International (Germany)
Landesbank Baden-Wurttemberg (Germany)
Landsbanki (Iceland, Netherlands)
LaSalle Investment Management
Lease Plan Portugal (Portugal)
LeasePlan Corporation
LEGO Holding (Denmark)
Lehman Brothers (Netherlands, U.K.)
Leo Burnett Advertising (Poland)
Levira (Estonia)
Liberty Global Europe
LICA Development Capital (U.K.)
LIMART (Czech Republic)
Linas ir Viza UAB (Lithuania)
Liverpool John Moores University (U.K.)
Lloyds Bank (Netherlands, Switzerland)
LODH Private Equity (Switzerland)
Lombard Odier Darier Hentsch Asset Management (Netherlands, Switzerland)
London Economics (U.S.A.)
London South Bank University (U.K.)
Lottomatica (Italy)
Lovells
Loyalis Verzekeringen
Lucent Technologies
Loyens & Loeff
Lyons Financial Solutions (South Africa)

Maastricht University
Macquarie Europe (U.K.)
Mahooty Risk Assessments
Manticore Capital (Sweden)
Mapletree Investments (Singapore)
Marfin Investment Bank (Greece)
Makshaff Services Limited Company (Saudi Arabia)
Marubeni Europower (U.K.)
Mathys AG (Switzerland)
Maxeda
Maxxium (France)
Mazars Berenschot
M.C. van Drunen Holding
McKinsey & Company
Mediobanca (Italy)
Medos (Germany)
Meff Renta Fija (Spain)
Mega International Commercial Bank (China)
Mercantile Bank (Bangladesh)
Mercato Trade Ltd. (Cyprus)
Mercer (Germany)
Mercer Human Resource Consulting (U.K.)
Mercer Oliver Wyman (U.S.A.)
Merita Corporate Finance (Finland)
Merrill Lynch (Japan, U.K., U.S.A.)
MIBRAG (Germany)
Michelin (France)
Midas-Kapiti International
Middlesex University Business School (U.K.)
Midroc Scandinavia AB (Sweden)
MILK Strategy & Finance
Ministry of Economic Affairs
Ministry of Finance (Netherlands, Republic of Tatarstan)
Ministry of Foreign Affairs (Denmark, Netherlands)
Ministry of Petroleum & Natural Gas (India)
Ministry of Privatization (Czech Republic)
Ministry of Transport (Canada, Malaysia, Netherlands)
Ministry of Water and Irrigation (Jordan)
Mitsubishi Corporation (Japan)
MN Services
Mobil (Pakistan)
Mobistar (Belgium)
Mondi Packaging (Austria)
Moneta (France)
Monitor Company (South Africa)
Monte Paschi Asset Management (Ireland, Italy)
Moolen, Van der
Moores Rowland International
Morgan Stanley (Japan)
Morningstar
Mostva (Poland)
MPS Group (Ireland, Italy)

NAM, Nederlandse Aardolie Maatschappij
Nationaal Grondbezit
National Bank of Dubai (UAE)
National Bank of Greece (Greece)
National Bank of Poland (Poland)
National Commercial Bank (Saudi Arabia)
National Economic Research Associates (U.K.)
National Federation of Coffee Growers of Colombia (Colombia)
Nationale-Nederlanden
National Petroleum Company - NPC (Egypt)
National Projects Holding Co. (Kuwait)
Natwest (U.K.)
NautaDutilh
Nederlandsche Bank, De
Nederlandse Spoorwegen
Nederlandse Waterschapsbank
NEI, Netherlands Economic Institute
Nera (U.K.)
Nestlé (Ghana, Switzerland, Panama)
Neumann + Dickersbach (Germany)
New World China Land (Hong Kong)
New Zealand Treasury (New Zealand)
NG Bailey (U.K.)
NIB, Nordic Investment Bank (Finland)
NIBC (Netherlands, Netherlands Antilles, Singapore, U.K.)
NIBE, Netherlands Institute for Banking and the Stockbroking Industry
NICE, National Information & Credit Evaluation (South Korea)
Nidera Handelscompagnie
Nielen Schuman
Nielsen Company, The
Nigeria LNG (Nigeria, U.K.)
Nigerian National Petroleum Corporation - NNPC (Nigeria)
Nikko Bank (U.K.)
Nimbus
NIRAS (Denmark)
NKM Noell Special Cranes
Nma, Netherlands Competition Authority
NMT, New Medical Technologies (Switzerland)
Noaber Foundation
NOB, Dutch Broadcasting Services Corporation
Nolan, Norton & Co.
Nordea (Denmark, Luxembourg, Norway)
Nordkap Bank (Switzerland)
Norsk Hydro (Norway)
Norske Skog (Norway)
Nortel (U.K.)
Norton Rose
Nova Ljubljanska Banka (Slovenia)
Novartis Consumer Health (Switzerland)
Novo Nordisk (Denmark, Norway)
Novus Finance (Greece)
NPI - National Provident Institution (U.K.)
NPM Capital
NRG
NUON
Nutreco
NVB, Netherlands Banker's Association
Nykredit Bank (Denmark)

Obchodni Banka (Prague)
Ober-Haus (Estonia)
Océ Technologies
Office of Energy Regulation
Ofreg (U.K.)
Oiltanking (Germany)
Oiltanking Singapore (Singapore)
Old Mutual (South Africa)
Oman Investment Corporation (Oman)
Oman Oil Company (Oman)
One.Tel
Oord ACZ, Van
Open Society Institute (U.S.A.)
Opstock Corporate Finance (Finland)
Optiver Holding
OPTAS
Oquendo Corporate (Spain)
Orange
Orascom Telecom Algérie (Algeria)
Orkla Media (Norway)
Ortec
Österreichische Postsparkasse (Austria)
OTE International Investments (Greece)
OTP Bank (Hungary)
Oxford Brookes University (U.K.)
Oyens & Van Eeghen
Oy Lars Krogius (Finland)

p3 technology partners
Pakistan Poverty Alleviation Fund (PPAF)
PAL Indonesia (Indonesia)
Palladion Partners (Germany)
Palladyne International
Panalpina World Transport Holding (Switzerland)
Parag Parikh Financial Advisory Services (India)
Parcom Capital
Parmalat (Italy)
Phanos
Pioneer Investment Management (Ireland)
P.T. Multi Harapan Utama (Indonesia)
Parcom Ventures
Parnib Holding
PDO Dienstverlening
Pelargos Capital
Pensioenfonds Gist-Brocades
Pension Investment Fund (Slovenia)
Pensionsgaranti FPG (Sweden)
Petercam
Petri Hynynen Consulting Oy (Finland)
PFA Pension (Denmark)
PGGM
PharmAccess Foundation
PhiDelphi Corporate Finance
Philips (Brazil, Germany, Israel, Netherlands)
Phoenix (Germany)
PICKO - Private Investment Center of Korea (South Korea)
Pioneer Investments Management (Ireland)
Piramed (U.K.)
PKF Worldwide (Sweden)
Playlogic
PLIVA (Croatia, Poland)
Podravka (Croatia)
Pon Holdings
POSCO (South Korea)
Postbank
Potosí
PPF Capital Management (Czech Republic)
Presnya-Bank Moscow (Russia)
PricewaterhouseCoopers (Belgium, Canada, China, Czech Republic, Ecuador, Germany, Hungary, Italy, Netherlands, Poland, Russia, Sweden, Turkey, U.K.)
Pride Forasol-Foramer (France)
Primagas (Germany)
Prime Ministry (Jordan)
Privatisation Commission, The (Malawi)
Privedna Banka Zagreb (Croatia)
Prometeia Calcolo (Italy)
Prosoft Automation (U.S.A.)
Providence Capital
Prudential Investment Management (U.K.)
Public Enterprises Reform Commission - PERC (Sri Lanka)
Public Service Pension Fund (Tanzania)
PVF Pensioenen
PYMWYMIC

Qatar Petroleum (Qatar)
Quintel Management Consulting
Qurus

R.J. Reynolds International (Switzerland)
Rabobank (Argentina, Belgium, Brazil, France, Germany, Hong Kong, Hungary, Mexico, Netherlands, Singapore, U.K.)
Radar Capital (U.K.)
Raiffeisen Asset Management (Romania)
Raiffeisen Zentralbank (Austria)
RAO "UES of Russia" (Georgia)
RAP Bikes (U.K.)
RB Partnership (Russia)
RCTM (Russian Corporation of Transport Machine Building (Russia)
RBS Insurance (U.K.)
REDE
Redevco Europe Services (Germany, Netherlands)
Regent Pacific Group (Hong Kong)
Regina Industria (Italy)
Regional Investment Fund (Poland)
REN - Rede Eléctrica Nacional (Portugal)
ReNaissance Merchant Bank (Zimbabwe)
Renaissance Worldwide (U.K.)
Renova Capital (Russia)
Repsol International Finance
Reserve Bank of India (India)
Residex
Ressenaar & Partners
Reuters (Netherlands, U.K.)
Rijkswaterstaat Zuid-Holland
Riksgäldskontoret (Sweden)
Rio Tinto Japan (Japan)
Ripple Developers
Robeco Group
Roche (Germany)
Roland Berger & Partner
Romanian-American Enterprise Fund (Romania)
Royal Bank of Scotland (U.K.)
RPPF, Romanian Post Privatization Fund (Romania)
RTL Television (Germany)
Russell Investment Group
Russ-Invest (Russia)
RWE AG (Germany)

S&C Investment Advisors
Safika Real Estate Structured Finance (South Africa)
Sakhalin Energy Investment Company (Russia)
Sakura Bank, The (U.K.)
Sal. Oppenheim (Germany)
Samba Financial Group (Saudi Arabia)
Samsung (South Korea)
Sanoma Magazines
Sanpaolo Imi (Italy, Netherlands, U.K.)
Sara Lee / DE
Sasol (South Africa)
Satelit Palapa Indonesia (Indonesia)
Saudi Arabian Monetary Agency (Saudi Arabia)
Saudi Aramco (Saudi Arabia)
Saudi Basic Industries (Saudia Arabia)
Saudi Hollandi Bank (Saudi Arabia)
Savola Group (Saudi Arabia)
SBA Artsenpensioenfondsen
Scandinavian Life Science Venture (Sweden)
Schenker (Germany)
Schiphol International
School of Oriental and African Studies - University of London (U.K.)
Schretlen & Co
Schwabe, Ley & Greiner (Austria)
Scottish Equitable (U.K.)
Scottish Investment Trust, The (U.K.)
SEB (Lithuania, Sweden)
S&B Industrial Minerals (Greece)
Securities and Futures Commission (Hong Kong)
Securities Commission (Malaysia)
SES Global (Luxembourg)
Seven Seas Computers (Dubai)
SG Hambros (U.K.)
Shell (Brazil, Denmark, Germany, Italy, Netherlands, Nigeria, Philippines, Poland, U.K., U.S.A.)
Shoaibi Group (Saudi Arabia)
Shimano (Germany, Netherlands)
Shinhan Bank (South Korea)
SHUAA Capital (United Arab Emirates)
SHV
Siemens (Germany, Netherlands)
SigmaKalon Group
Silvia Soc. Máq. Equipamentos (Portugal)
Simed International
Simmons & Simmons
Single Buoy Moorings (Monaco)
Sinloc - Sistema Iniziative Locali (Italy)
SITA
Skattedirektoratet, Directorate of Taxes (Norway)
SKF
Slag Recycling (Poland)
Slot & Partners
Smit International
SNS Asset Management
SNS Bank
SNT
Social Fund for Development (Egypt)
Société Générale (Japan, Netherlands)
Sonae (Portugal)
Sonangol - Distribuidora (Angola)
Sony Europe (Germany, Netherlands)
Sorainen Law Offices (Latvia)
South Bank University (U.K.)
South African Reserve Bank (South Africa)
Southern Africa Enterprise Development Fund (South Africa)
Sparbank Vest (Denmark)
Spill Group Holding
SPF Beheer
Spigthoff Lawyers and Tax Advisors
Squarewise
SSM Coal
Staal Bankiers
Stad Rotterdam Verzekeringen
Stahl International
Stamford Partners
Standard Bank (South Africa, U.K.)
Standard Chartered Bank (Bahrain)
Stater Mortgage Investment Services
Station 12
Statkraft Markets
StatoilHydro ASA (Norway)
Stibbe
Stichting Pensioenfonds HBG
Stichting Pensioenfonds Hoogovens
Stichting Spoorweg Pensions Fund
Storebrand (Norway)
Stork
Strikwerda Investments
Struik Foods Europe
Strukton
Sudwestbank (Germany)
Südzucker International (Germany)
Sun Development Company (Aruba)
Suprema (Estonia, Latvia, Lithuania)
Sustainable Energy Authority of Ireland (Ireland)
Svenska Handelsbanken (Luxembourg)
Sveriges Riksbank (Sweden)
Swedish National Debt Office, The (Sweden)
Swicorp (Saudi Arabia, Switzerland, Tunisia)
Swire Pacific (Hong Kong)
Swiss Life Asset Management
Swiss Re (Australia, Switzerland, U.S.A., U.K.)
Swisscom (Switzerland)
Sydbank (Denmark)
Synergia Capital Partners
Syngenta International (Switzerland)

T. Rowe Price International (Argentina)
Taylor Woodrow (U.K.)
Takkeno Management
TCFG, The Corporate Finance Group (Switzerland)
TCX Investment Management Company
TDC Innovation (Denmark)
Tebodin, Consultants & Engineers
Telefónica (Spain)
Telegraaf, N.V. Holdingsmaatschappij De
Telekom Malaysia (Malaysia)
Telekominikasi Indonesia (Indonesia)
Telekomunikasi Indonesia (Indonesia)
TeliaSonera (Finland)
Telfort
Telus (Canada)
Tenova (Italy)
TenneT
Teseo (Italy)
Tetra Laval Finance and Treasury Ltd (Switzerland)
Teva Pharmaceuticals(Czech Republic)
Texaco (U.K.)
Thai Summit Autoparts Industry (Thailand)
Theodoor Gilissen Bankiers
Therma (Switzerland)
Thrivent Asset Management (USA)
Tiscali (Belgium)
TMF
T-Mobile (Germany, Netherlands)
T-Online (Germany)
TNK-BP (Ukraine)
TNT
TonenGeneral Sekiyu (Japan)
Tong Yang Merchant Bank Securities (South Korea)
Towers Perrin (U.S.A.)
TPG
Tractabel (Belgium)
Trade & Development Bank of Mongolia (Mongolia)
Trafina Privatbank (Switzerland)
Tramedico International
Trans-Balkan Romania Fund (Romania)
Transfer Pricing Associates
TriGranit Development Polska (Poland)
Triodos Bank (Netherlands, U.K.)
Triodos MeesPierson
Troika (U.K.)
T. Rowe Price (U.K.)
Tsakos Shipping & Trading (Greece)
TSKB, Industrial Development Bank of Turkey (Turkey)
TUI Nederland
TVK - Tisza Chemical Group (Hungary)
Twynstra Gudde
Twinning
TXU Energy (U.K.)

UBS (Netherlands, Switzerland, U.K.)
Udink & De Jong
Uganda Coffee Development Authority (Uganda)
UGBI Bank, United Garanti Bank
Umicore (Belgium)
Unibanco (U.S.A.)
Unibank (Denmark, Latvia)
UniCredit (Austria, Germany, Italy)
Unilever (Netherlands, U.K.)
Union Bank of Estonia (Estonia)
United Arab Emirates Offsets Group (U.A.E)
United Nations (Austria)
United Nations Development Programme (Afghanistan)
United Nations Industrial Development Organization (UNIDO) (Austria)
Unity Bank (Nigeria)
Universität Witten/Herdecke (Germany)
University of Calgary (Canada)
University of Hong Kong (Hong Kong)
University of London (U.K.)
University of Nijmegen
University of Otago (New Zealand)
University of Twente
UPC
Uralsib Bank (Russia)

Van de Ende & Deitmers
Van Diepen Van der Kroef Advocaten
Van Lanschot Bankiers (Netherlands, Switzerland)
VakifBank (Turkey)
V ectrix Consultants
Veer Palthe Voûte, Capital Asset Management
Venture Partners Botswana (Botswana)
Verbatim
Verleun Business Development
Vestius Attorneys-at-Law
Vienna International, Hotels & Resorts (Austria)
Vienna International Airport (Austria)
Vierlander Effecten
VIP-NET (Croatia)
Visa International (U.K.)
Vision Networks
Vizzion Europe (Belgium)
VocaLink (U.K.)
Vodafone AirTouch (Portugal)
Vodafone Libertel
Vodafone Omnitel (Italy)
VolkerWessels
Volubilis (France)
Vopak
Vrije Universiteit Amsterdam
Vulcan Investments (U.S.A.)
VVAA Groep

Waarborgfonds voor de Sociale Woningbouw
Wagram Equity Partners
Wallich & Matthes
Warsaw School of Economics (Poland)
Waterland, Private Equity Investments
Wegelin & Co Private Bankers (Switzerland)
Wellington Partners (Germany)
Wessanen Finance
WestLB (Germany)
Western NIS Enterprise Fund (Ukraine)
West China Investment Consultants (U.S.A.)
Westland/Utrecht Hypotheekbank
Wijsmuller
Wimm-Bill-Dann Foods (Russia)
Winterthur Insurance (Switzerland)
Wolters Kluwer
World Bank, The (U.S.A.)
World Wide Recycling

Xerox

YatirimBank (Turkey)

Zara Holding
Zagrebacka banka (Croatia)
Zambia Telecommunications (Zambia)
Zanders (Netherlands)
Zeonor (Norway)
Zivnostenská Banka (Czech Republic)
Zurich (Argentina, Netherlands)
Zurich Financial Services (Switzerland)