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Mutual's European Picks

COMPANY                                  SHARE PRICE
                                          JAN. 26

ELF AQUITAINE (France)                      $60*
Cheap for a global oil company

INVESTOR  (Sweden)                           47
More restructuring likely at the
Wallenberg family company

RAILTRACK (Britain)                          14
Rail operator with valuable real estate

SUEZ LYONNAISE DES EAUX (France)            117
Could achieve more value by selling nonwater businesses


*American depositary receipt

DATA: MUTUAL ADVISERS, BLOOMBERG FINANCIAL MARKETS


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