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The following pages afford further relevant news:
  1. Owners wondering if annuities are at risk (San Diego Union-Tribune)
    www.signonsandiego.com
    Many owners of variable annuities have endured a double whammy lately: Their investment-account balances have taken a hit, as have the financial-strength ratings on the insurers that issued their annuities.
  2. Telefonica Earns 5,596 Million Euros to September and Confirms All Growth Forecasts for 2008 (Business Wire via Yahoo! Finance)
    biz.yahoo.com
    MADRID, Spain---- On a like-for-like basis, in the first nine months of 2008 the Company has shown a sharp improvement across the board: Revenue advanced 7%, thanks to Latin America , the Group’s main driver, and the business in Spain and Europe OIBDA rose 9.8%, due to Telefónica’s efficient cost management policy and the advantages of the scale, while operating income grew 18% Net profit ...
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