American Beacon Advisors

American Beacon Advisors as of March 31, 2005

Portfolio Holdings for American Beacon Advisors

American Beacon Advisors holds 0 positions in its portfolio as reported in the March 2005 quarterly 13F filing

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                TITLE OF                 VALUE      SHRS OR  SH/  PUT/   INVESTMENT    OTHER       VOTING AUTHORITY
NAME OF ISSUER   CLASS       CUSIP     (x$1000)     PRN AMT  PRN  CALL   DISCRETION   MANAGERS    SOLE  SHARED  NONE
--------------  ----------  ---------  ---------  ---------------------  ----------  ----------  ---------------------
{S}             {C}           {C}        {C}        {C}   {C}  {C}         {C}        {C}        {C}    {C}    {C}
                 SDCV
AES Corp        4.500% 8/1  00130HAN5  2,253      2,250,000 PRN           DEFINED               2,250,000