American Beacon Advisors

American Beacon Advisors as of March 31, 2006

Portfolio Holdings for American Beacon Advisors

American Beacon Advisors holds 0 positions in its portfolio as reported in the March 2006 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}
                          NOTE
Nortel Networks Corp New  4.250% 9/0  656568AB8   2,123    2,250,000 PRN          DEFINED               2,250,000