Asia/Pacific Morning<br/>Meeting Summary<br/>Highlights<br/>Company/Industry Analysis<br/>Australia Banks / Reporting Season Preview<br/>Aristocrat Leisure Ltd (Australia) / A Disappointing Update Equal-weight<br/>Foster's Group (Australia) / Global M&amp;A Another Reminder of the Value of CUB Equal-weight<br/>China Merchants Bank (China) / Upside Surprises in NIM and Fees Equal-weight-V<br/>CJ Cheil Jedang Corp (S. Korea) / 3Q07: Record OPM to Foster Earnings Momentum Overweight-V<br/>Mobile One Ltd. (Singapore) / Solid 3Q07; Reiterate Overweight Overweight<br/>Strategy/Economics Analysis<br/>S. Korea Strategy / Bulls Keep Running in 2008<br/>What's Changed<br/>Stock Rating Changes – Downgrades<br/>Stock Rating Price Target ModelWare Estimate<br/>Ticker Company From To From To From To (FY) Consensus*<br/>ALL.AX Aristocrat Leisure Ltd O E A$15.60 A$12.80 A$0.64 A$0.52(12/'07) --<br/>A$0.75 A$0.61(12/'08) --<br/>A$0.95 A$0.80(12/'09) --<br/>Estimates/Price Target Changes – Up<br/>3968.HK China Merchants Bank -- E-V HK$31.45 HK$33.26 Rmb0.89 Rmb0.94(12/'07) --<br/>Rmb1.26 Rmb1.34(12/'08) --<br/>Rmb1.57 Rmb1.65(12/'09) --<br/>MONE.SI Mobile One Ltd. -- O S$2.40 S$2.45 S$0.17 S$0.18(12/'08) --<br/>S$0.17 S$0.18(12/'09) --<br/>* First Call consensus estimate<br/>