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Exhibit 12.1
Ratio of Combined Fixed Charges and Preferred Stock Dividends (000's)
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For the Years Ended December 31,
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1996 1997 1998 1999 2000 2001
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(In thousands of Euros)
Net income (loss) from continuing operations before other
items.................................................. (25,042) (71,419) (226,589) (758,011) (1,892,042) 4,542,769)
Fixed charges and preferred stock dividends:
Interest, whether expensed or capitalized........... 17,459 32,100 47,355 178,448 753,231 919,570
Preferred stock dividend requirements............... - - - - 11,743 185,094
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Total fixed charges and preferred stock dividends........ 17,459 32,100 47,355 178,448 764,974 1,104,664
Adjusted earnings (losses)............................... (7,583) (39,319) (179,234) (579,563) (1,127,068) (3,438,105)
Fixed charges and preferred stock dividends.............. 17,459 32,100 47,355 178,448 764,974 1,104,664
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Ratio of earnings to fixed charges and preferred stock
dividends.............................................. - - - - -
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Euro amount of coverage deficiency....................... (25,042) (71,419) (226,589) (758,011) (1,892,042) (4,542,769)
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