<?xml version="1.0" encoding="UTF-8"?><!--
  == Copyright (c) 2002-2010. All rights reserved.
  == Financial Products Markup Language is subject to the FpML public license.
  == A copy of this license is available at http://www.fpml.org/documents/license
  -->
<FpML xmlns="http://www.fpml.org/2010/FpML-4-9" xmlns:fpml="http://www.fpml.org/2010/FpML-4-9" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" version="4-9" xsi:type="ContractCreated" xsi:schemaLocation="http://www.fpml.org/2010/FpML-4-9 ../../fpml-main-4-9.xsd http://www.w3.org/2000/09/xmldsig# ../../xmldsig-core-schema.xsd">
   <header>
      <conversationId conversationIdScheme="http://www.swift.com/coding-scheme/conversation-id">CONV003</conversationId>
      <messageId messageIdScheme="http://www.amag.com/coding-scheme/message-id">0483788</messageId>
      <sentBy>AMAGGB22XXX</sentBy>
      <sendTo>CCSTUS6S</sendTo>
      <creationTimestamp>2007-07-31T09:02:00-00:00</creationTimestamp>
   </header>
   <contract>
      <header>
         <identifier>
            <partyReference href="AMAG"/>
            <versionedContractId>
               <contractId contractIdScheme="http://www.swift.com/coding-scheme/contract-id">CDS3</contractId>
               <version>1</version>
            </versionedContractId>
         </identifier>
         <contractDate>2007-07-31</contractDate>
      </header>
      <creditDefaultSwap>
         <productType>CDX</productType>
         <generalTerms>
            <effectiveDate>
               <unadjustedDate>2007-08-01</unadjustedDate>
               <dateAdjustments>
                  <businessDayConvention>FOLLOWING</businessDayConvention>
                  <businessCenters>
                     <businessCenter>GBLO</businessCenter>
                     <businessCenter>USNY</businessCenter>
                  </businessCenters>
               </dateAdjustments>
            </effectiveDate>
            <scheduledTerminationDate>
               <adjustableDate>
                  <unadjustedDate>2015-08-01</unadjustedDate>
                  <dateAdjustments>
                     <businessDayConvention>FOLLOWING</businessDayConvention>
                     <businessCenters>
                        <businessCenter>USNY</businessCenter>
                        <businessCenter>GBLO</businessCenter>
                     </businessCenters>
                  </dateAdjustments>
               </adjustableDate>
            </scheduledTerminationDate>
            <sellerPartyReference href="FIRST"/>
            <buyerPartyReference href="SKY"/>
            <indexReferenceInformation>
               <indexName>Dow Jones CDX NA IG.2</indexName>
            </indexReferenceInformation>
         </generalTerms>
         <feeLeg>
            <initialPayment>
               <payerPartyReference href="SKY"/>
               <receiverPartyReference href="FIRST"/>
               <paymentAmount>
                  <currency>USD</currency>
                  <amount>1000000</amount>
               </paymentAmount>
            </initialPayment>
            <periodicPayment>
               <paymentFrequency>
                  <periodMultiplier>6</periodMultiplier>
                  <period>M</period>
               </paymentFrequency>
               <firstPaymentDate>2008-02-01</firstPaymentDate>
               <rollConvention>1</rollConvention>
               <fixedAmountCalculation>
                  <fixedRate>0.01</fixedRate>
               </fixedAmountCalculation>
            </periodicPayment>
         </feeLeg>
         <protectionTerms>
            <calculationAmount>
               <currency>USD</currency>
               <amount>500000000.00</amount>
            </calculationAmount>
            <creditEvents>
               <bankruptcy/>
               <creditEventNotice>
                  <notifyingParty>
                     <buyerPartyReference href="SKY"/>
                     <sellerPartyReference href="FIRST"/>
                  </notifyingParty>
                  <businessCenter>GBLO</businessCenter>
               </creditEventNotice>
            </creditEvents>
            <obligations>
               <category>Payment</category>
               <specifiedCurrency>
                  <currency>USD</currency>
               </specifiedCurrency>
            </obligations>
         </protectionTerms>
         <cashSettlementTerms>
            <settlementCurrency>USD</settlementCurrency>
            <cashSettlementBusinessDays>2</cashSettlementBusinessDays>
         </cashSettlementTerms>
      </creditDefaultSwap>
      <calculationAgent>
         <calculationAgentPartyReference href="FIRST"/>
      </calculationAgent>
      <documentation>
         <contractualDefinitions>ISDA2003Credit</contractualDefinitions>
      </documentation>
   </contract>
   <party id="AMAG">
      <partyId>AMAGGB22</partyId>
      <partyName>International Bank Asset Management</partyName>
      <account id="INTAC1">
         <accountId>1234</accountId>
         <accountName>SkyAccount</accountName>
         <accountBeneficiary href="SKY"/>
      </account>
   </party>
   <party id="SKY">
      <partyId partyIdScheme="http://www.sky.org/coding-schem/code-id">SkyLTD</partyId>
      <partyName>Sky Limited</partyName>
   </party>
   <party id="CST">
      <partyId>CCSTUS6S</partyId>
      <partyName>Standards Slav. Int'l</partyName>
      <account id="GEN478">
         <accountId>47896325</accountId>
         <accountName>Sky General Account</accountName>
      </account>
   </party>
   <party id="FIRST">
      <partyId>FIBADEFF</partyId>
      <partyId partyIdScheme="http://www.sky.org/coding-scheme/DTCCcode-id">FirstDTCCId</partyId>
      <partyName>First International Bank, MozartStrasse, Frankfurt</partyName>
   </party>
</FpML>