million principle amount of nine percent asset backed certificates of Euro Capital Markets (Series A) Trust.

The listing is made under the provisions for restricted marketing. Euro Capital Markets (Series A) Trust was incorporated in New York state in the US and has been classified as a grantor trust for US federal income tax purposes.

Each nine percent asset backed certificates will represent a fractional undivided interest in the Euro Capital Markets (Series A) Trust.

The Trust will use the proceeds from the sales of the certificates to purchase $48 million of zero coupon US Government Guaranteed Securities paying $100 million on maturity in June 2009.

And the Trust will also loan an estimated $52 million to the company to enable it to make secured loans up to that amount to certain US borrowers.

Euro Capital Markets (Series A) Inc. is the trustee.

It is a special purpose corporation incorporated in New York in 1994 and its activities are restricted to entering into the ECM-A Loan Agreement making the project loans and undertaking related activities.

The listing is being sponsored by Bermuda-based Voyager Financial Services Limited.

Euro Capital Markets managing director Ronald Totaro said the company was offering an "innovative investment structure on the BSX since it combined an attractive fixed rate coupon of nine percent with a strong credit profile''.

"We estimate the Bank of International Settlements Risk factor of our certificates to be near zero,'' he said.

Voyager Financial Services managing director Paul Lemmon said his company was happy to sponsor Euro Capital Markets.

"I am further pleased that international debt issues look to Bermuda and the BSX as their venue for international business.''