For the year, assets management reported 28% increase in assets under management to $868 billion and generated net revenue of $4.49 billion.

In the quarter, Net revenues in FICC were $3.30 billion, 6% higher than the fourth quarter of 2006, reflecting significantly higher net revenues in currencies and commodities. The increase in commodities reflected a gain of approximately $800 million from the sale of a majority interest in 14 power generation facilities held by Cogentrix Energy, Inc. In addition, net revenues in mortgages and interest rate products were higher. Net revenues in credit products declined significantly, reflecting lower results from equity investments, partially offset by a gain of approximately $500 million, net of hedges, related to non-investment-grade credit origination activities. Results from equity investments declined in part due to a gain of approximately $500 million on Accordia Golf Co., Ltd. during the fourth quarter of 2006.

Asset Management net revenues were $1.17 billion, 25% higher than the fourth quarter of 2006, reflecting higher management and other fees. During the quarter, assets under management increased $72 billion, or 9%, to $868 billion, reflecting non-money market net inflows of $16 billion, primarily in fixed income assets, money market net inflows of $42 billion and market appreciation of $14 billion in fixed income and equity assets.

As of November 30, 2007, total capital was $206.97 billion, consisting of $42.80 billion in total shareholders’ equity (common shareholders’ equity of $39.70 billion and preferred stock of $3.10 billion) and $164.17 billion in unsecured long-term borrowings. Book value per common share was $90.43, an increase of 25% compared with the end of 2006 and an increase of 7% compared with the end of the third quarter of 2007.

The Board declared a dividend of $0.35 per common share to be paid on February 28, 2008 to common shareholders of record on January 29, 2008. The Board also declared dividends of $351.84, $387.50, $351.84 and $346.84 per share of Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock and Series D Preferred Stock, respectively (represented by depositary shares, each representing a 1/1,000th interest in a share of preferred stock), to be paid on February 11, 2008 to preferred shareholders of record on January 27, 2008.


8:00AM New York, 6:30PM Mumbai - Sensex fell for the second day in row./R

Stocks in Mumbai closed weak on Tuesday with the benchmark index recording a loss of 0.9% or 181.7 at 19,079 after reaching a low of 19,009.35 and a high of 19,375.07. At day''s low Sensex lost 252 points.

Hindustan Unilever, Larsen & Toubro, HDFC, ICICI Bank and Reliance Industries led the decliners in the BSE-30 index with a loss of 1.75% or more.

Among the Bombay Stock Exchange shares, 1,193 stocks rose, 1,672 stocks declined, and 27 stocks remained unchanged. Of the Sensex 30 index, 18 declined. Trading turnover on the BSE amounted to 8,007 crore rupees, lower than 9,641 crore rupees reported on Monday. Turnover on the National Stock Exchange was at 19,519 crore rupees.

In the broader markets, S&P CNX Nifty slid 0.6% or 34.7 with the 50-share index closing at 5,742 levels. Stocks in oil & gas and healthcare sector were in demand, while selling pressure was visible in banking, metal and realty stocks.

Of the NSE-50 stocks, Tata Power Comapany, Sterlite Indus India, Unitech Ltd, VSNL and HDFC Bank were the leading decliners with a loss of over 1.8% each.

BPCL, Sun Pharma, Cipla, ITC Ltd, Cairn India and NTPC were the key gainers in the broader index with a rise of 1.6%.

In Tokyo Nikkei 225 Index declined 41.93 or 0.27% to close at 15,207.86, in Hong Kong Hang Seng index closed up 136.29 or 0.51% to 26,732.87, in Australia ASX 200 declined by 39.20 or 0.62% to close at 6,292.60.

In South Korea Kospi Index increased 21.65 or 1.18% to close at 1,861.47, Thailand closed down 3.72 or 0.45% to 813.90, and Indonesia edged lower 18.69 or 0.70% to 2,646.23. India closed lower by 181.71 or 0.94% to 19,079.64.

Reliance Industries declined 1.8% to 2,728.9 rupees on reports that the company has paid advance tax of 1,045 crore rupees in the third quarter ended 15th December 2007.

Reliance Communications fell 0.5% to 714.4 rupees on news reports that it has earmarked an investment of about 800 crore rupees to roll out a telecom network — fixed and mobile — in Uganda, in the Eastern Africa.

ITC gained 2.2% to 197.9 rupees, Tata Tea gained 1.3% to 880.6 rupees, and Hindustan Unilever shed 3.4% to 211.2.

Videocon industries added 0.5% to 619.4 rupees, Lloyd Electric advanced 1.2% to 174 rupees and Titan Industries jumped 5% to 1,459.65 rupees.

Sun Pharmaceuticals surged 4% to 1,137.95 rupees, Cipla gained 3.8% to 215.75 rupees, Dr. Reddy''s Laboratories advanced 0.1% to 717.45 rupees and Ranbaxy Laboratories climbed 1.1% to 410 rupees.