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Poll of Polls Methodology

The scores for this year's Poll of Polls were compiled using league tables and Euromoney surveys published in 2003, as outlined below.

Underwriting Overall capital raising: market users' votes for best bank at raising capital.

Bonds: issuers' votes for best lead manager for top bookrunner in 19 categories; bookrunner league table of international bonds (source: Dealogic Bondware).

MTNs: borrowers' votes for EMTN and US MTN arrangers; EMTN arranger league table (source: Dealogic MTNWare).

Commercial paper: users' votes for CP arrangers.

Equities: borrowers' views on global coordination, IPOs, privatizations, secondary offerings and block trades; global coordinator and bookrunner league tables of international equities (source: Dealogic Bondware).

Trading MTNs: borrowers' nominations for best EMTN and US MTN dealers; EMTN dealer league table (source: Dealogic MTNWare).

Commercial paper: market users' views on best ECP dealers.

Foreign exchange: corporate treasurers' and institutional investors' votes for the top houses by market share.

Transactions processing Cash management: corporate treasurers nominations for best cash management services allied to global foreign exchange transactions; nominations for best global cash management services overall.

Custodial services: corporate treasurers' nominations for best global custodian.

Internet Capital raising: borrowers' nominations for best website used .

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