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      <hr style="MARGIN-TOP: -5px; COLOR: #000000" noshade size="4"><font style="DISPLAY: inline; FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman"><strong><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>As
      filed with the Securities and Exchange Commission on August 4,
      2006</strong></font></strong></font></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Registration
          No. 333-</strong></font></div>
      </div>
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        <hr style="MARGIN-TOP: -5px; COLOR: #000000" noshade size="4">
        <hr style="MARGIN-TOP: -10px; COLOR: #000000" noshade size="1">
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman"><strong>UNITED
        STATES</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman"><strong>SECURITIES
        AND EXCHANGE COMMISSION</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Washington,
        D.C. 20549</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
        <div>
          <hr style="COLOR: black" align="center" noshade size="2" width="20%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman"><strong>FORM
        S-8</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>REGISTRATION
        STATEMENT UNDER THE SECURITIES ACT OF 1933</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
        <hr style="COLOR: black" align="center" noshade size="2" width="20%">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 24pt; FONT-FAMILY: Times New Roman"><strong>ORTHOFIX
        INTERNATIONAL N.V.</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
        name of Registrant as specified in its charter)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div align="left">
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td valign="top" width="4%">&#160;</td>
              <td valign="top" width="44%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Netherlands
                  Antilles</strong></font></div>
              </td>
              <td valign="top" width="4%">&#160;</td>
              <td valign="top" width="44%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Not
                  Applicable</strong></font></div>
              </td>
              <td valign="top" width="4%">&#160;</td>
            </tr>
            <tr>
              <td valign="top" width="4%">&#160;</td>
              <td valign="top" width="44%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(State
                  or other jurisdiction of incorporation or organization)</font></div>
              </td>
              <td valign="top" width="4%">&#160;</td>
              <td valign="top" width="44%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(I.R.S.
                  Employer Identification Number)</font></div>
              </td>
              <td valign="top" width="4%">&#160;</td>
            </tr>
            <tr>
              <td valign="top" width="4%">&#160;</td>
              <td valign="top" width="44%">&#160;</td>
              <td valign="top" width="4%">&#160;</td>
              <td valign="top" width="44%">&#160;</td>
              <td valign="top" width="4%">&#160;</td>
            </tr>
            <tr>
              <td valign="top" width="4%">&#160;</td>
              <td valign="top" width="44%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>7
                  Abraham de Veerstraat</strong></font></div>
              </td>
              <td valign="top" width="4%">&#160;</td>
              <td valign="top" width="44%">&#160;</td>
              <td valign="top" width="4%">&#160;</td>
            </tr>
            <tr>
              <td valign="top" width="4%">&#160;</td>
              <td valign="top" width="44%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Curacao,
                  Netherlands Antilles</strong></font></div>
              </td>
              <td valign="top" width="4%">&#160;</td>
              <td valign="top" width="44%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Not
                  Applicable</strong></font></div>
              </td>
              <td valign="top" width="4%">&#160;</td>
            </tr>
            <tr>
              <td valign="top" width="4%">&#160;</td>
              <td valign="top" width="44%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Address
                  of Principal Executive Offices)</font></div>
              </td>
              <td valign="top" width="4%">&#160;</td>
              <td valign="top" width="44%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Zip
                  Code)</font></div>
              </td>
              <td valign="top" width="4%">&#160;</td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Stock
        Options Granted Pursuant to</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Performance
        Accelerated Stock Options Agreements with Certain Officers</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Full
        title of the plan)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Orthofix
        International N.V.</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>10115
        Kincey Avenue</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Suite
        250</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Huntersville,
        North Carolina 28078</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>(704)
        948-2600</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Name,
        address and telephone number of agent for service)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">
        <div>
          <hr style="COLOR: black" align="center" noshade size="1" width="20%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>Copies
        to:</em></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>William
        D. Davis II</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Baker
        &amp; McKenzie LLP</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Pennzoil
        Place, South Tower</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>711
        Louisiana, Suite 3400</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Houston,
        Texas 77002</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>(713)
        427-5000</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
        <div>
          <hr style="COLOR: black" align="center" noshade size="2" width="20%">
        </div>
        <div>&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>CALCULATION
        OF REGISTRATION FEE</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div align="left">
        <table border="1" bordercolor="black" cellpadding="2" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="middle" width="28%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Title
                  of Each Class of</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Securities
                  to be</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Registered
                  (1)</strong></font></div>
              </td>
              <td align="left" valign="middle" width="10%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Amount
                  to be</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Registered</strong></font></div>
              </td>
              <td align="left" valign="middle" width="14%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Proposed
                  Maximum</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Offering
                  Price Per</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Share
                  (2)</strong></font></div>
              </td>
              <td align="left" valign="middle" width="14%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Proposed
                  Maximum</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Aggregate
                  Offering</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Price
                  (2)</strong></font></div>
              </td>
              <td align="left" valign="middle" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Amount
                  of</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Registration
                  </strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Fee</strong></font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="middle" width="28%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Common
                  Stock, par value $0.10 per share</font></div>
              </td>
              <td valign="middle" width="10%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">200,000</font></div>
              </td>
              <td valign="middle" width="14%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">$38.00</font></div>
              </td>
              <td valign="middle" width="14%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">$7,600,000</font></div>
              </td>
              <td valign="middle" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">$814</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="line-height: 1.25;">
              <td style="width: 36pt;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(1)</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Shares
                  of common stock of Orthofix International N.V. (the &#8220;Company&#8221;), $0.10 par
                  value per share (the &#8220;Common Stock&#8221;), being registered hereby relate to
                  certain stock option agreements between the Company and certain
                  employees.
                  Pursuant to Rule 416 promulgated under the Securities Act of 1933,
                  as
                  amended (the &#8220;Securities Act&#8221;), there are also being registered such
                  additional shares of Common Stock as may become issuable pursuant
                  to the
                  anti-dilution provisions of those
                  agreements.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="line-height: 1.25;">
              <td style="width: 36pt;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(2)</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
                  registration fee is calculated pursuant to Rule 457(h) promulgated
                  under
                  the Securities Act on the basis of the exercise prices of the options
                  granted by the Company.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <hr style="MARGIN-TOP: -5px; COLOR: #000000" noshade size="1">
        <hr style="MARGIN-TOP: -13px; COLOR: #000000" noshade size="4">
      </div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>EXPLANATORY
        NOTE</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
        Registration Statement on Form S-8 covers the offer by the Company of Common
        Stock issuable upon exercise of (a) stock options granted to Bradley R. Mason
        pursuant to a Performance Accelerated Stock Option Agreement dated </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">November
        20, 2003</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        and (b)
        stock options granted to William Hopson pursuant to a Performance Accelerated
        Stock Option Agreement dated </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">November
        20, 2003</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>PART
        I</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>INFORMATION
        REQUIRED IN THE SECTION 10(a) PROSPECTUS</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="line-height: 1.25;">
                <td style="width: 72pt;">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
                    1.</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Plan
                    Information.*</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

              <tr valign="top" style="line-height: 1.25;">
                <td align="left" style="width: 72pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
                  2.</strong></font></td>
                <td align="left">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Registrant
                    Information and Employee Plan Annual Information.</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">*</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">
          <hr style="COLOR: black" align="left" noshade size="1" width="20%">
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="line-height: 1.25;">
                <td style="width: 18pt;">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><sup>*</sup></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Information
                    required by Part I to be contained in the Section 10(a) prospectus
                    is
                    omitted from this Registration Statement in accordance with Rule
                    428 under
                    the Securities Act and the &#8220;Note&#8221; to Part I of Form
                    S-8.</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div>
        <div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>PART
              II</strong></font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>INFORMATION
              REQUIRED IN THE REGISTRATION STATEMENT</strong></font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
            <div>
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                  <tr valign="top" style="line-height: 1.25;">
                    <td style="width: 72pt;">
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
                        3.</strong></font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Incorporation
                        of Documents by Reference.</strong></font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
              following documents, which have been filed with the Securities and
              Exchange
              Commission (the &#8220;Commission&#8221;), are incorporated herein by reference and made
              part of this Registration Statement; </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>provided</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
              </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>however</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
              that
              the Company is not incorporating any information furnished under either
              Item&#160;2.02 or Item&#160;7.01 of any current report on Form 8-K:</font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div>
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                  <tr valign="top" style="line-height: 1.25;">
                    <td style="width: 72pt;">&#160;</td>
                    <td style="width: 36pt;">
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
                        Company&#8217;s annual report on Form 10-K (Commission File No. 0-19961)
                        for the
                        fiscal year ended December 31, 2005, filed on March 14, 2006;
                        </font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div>
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                  <tr valign="top" style="line-height: 1.25;">
                    <td style="width: 72pt;">&#160;</td>
                    <td style="width: 36pt;">
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">All
                        other reports filed by the Registrant pursuant to Section
                        13(a) or 15(d)
                        of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;),
                        since December 31, 2005; and</font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div>
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                  <tr valign="top" style="line-height: 1.25;">
                    <td style="width: 72pt;">&#160;</td>
                    <td style="width: 36pt;">
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
                        description of the Company&#8217;s shares of Common Stock contained in the
                        Company&#8217;s Registration Statement on Form F-1 (Commission File No.
                        33-46245), filed with the Commission on March 6, 1992 under
                        the Securities
                        Act.</font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
              addition, all documents subsequently filed by the Company pursuant
              to Sections
              13(a), 13(c), 14 and 15(d) of the Exchange Act (other than information
              furnished
              under Item 2.02 or Item 7.01 of any current report on Form 8-K), after
              the date
              of this Registration Statement but before the Company files a post-effective
              amendment to this Registration Statement, which indicate that all securities
              offered have been sold or which deregister all securities then remaining
              unsold,
              shall be deemed to be incorporated by reference in this Registration
              Statement
              and are a part thereof from the date of filing of such documents.</font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Any
              statement contained in a document incorporated or deemed incorporated
              by
              reference in this Registration Statement shall be deemed to be modified
              or
              superseded for purposes of this Registration Statement to the extent
              that a
              statement contained herein or in any other subsequently filed document
              which
              also is or is deemed to be incorporated by reference herein modifies
              or
              supersedes such statement. Any such statement so modified or superseded
              shall
              not be deemed, except as so modified or superseded, to constitute a
              part of this
              Registration Statement.</font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
            <div>
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                  <tr valign="top" style="line-height: 1.25;">
                    <td style="width: 72pt;">
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
                        4.</strong></font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Description
                        of Securities.</strong></font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
              applicable.</font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: -72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
            <div>
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                  <tr valign="top" style="line-height: 1.25;">
                    <td style="width: 72pt;">
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
                        5.</strong></font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Interests
                        of Named Experts and
                        Counsel.</strong></font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">None.</font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
            <div>
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                  <tr valign="top" style="line-height: 1.25;">
                    <td style="width: 72pt;">
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
                        6.</strong></font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Indemnification
                        of Directors and Officers.</strong></font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Article
              11 of the Registrant&#8217;s Articles of Association generally provides, in relevant
              part: </font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
              Company will have the power to indemnify any person who was or is a
              party or is
              threatened to be made a party to any threatened, pending or completed
              action,
              suit or proceeding, whether civil, criminal, administrative or investigative
              (other than an action by or in the right of the Company) by reason
              of the fact
              that he is or was a director, officer, employee or agent of the Company,
              or is
              or was serving at the request of the Company as a director, officer,
              employee or
              agent of another corporation, partnership, joint venture, trust or
              other
              enterprise or entity, against expenses (including attorneys&#8217; fees), judgments,
              fines and amounts paid in settlement actually and reasonably incurred
              by him in
              connection with such action, suit or proceeding if he acted in good
              faith and in
              a manner he reasonably believed to be in or not opposed to the best
              interests of
              the Company, and with respect to any criminal action or proceeding,
              had no
              reasonable cause to believe that his conduct was unlawful. The termination
              of
              any action, suit or proceeding by judgment, order, settlement, conviction
              or
              upon a plea of </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>nolo
              contendere</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
              or its
              equivalent, shall not, of itself, create a presumption that the person
              did not
              act in good faith and in a manner which he reasonably believed to be
              in or not
              opposed to the best interests of the Company.</font></div><br>
            <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
              <div id="FTR">
                <div id="GLFTR" style="WIDTH: 100%" align="left">
                </div>
              </div>
              <div id="PN" style="PAGE-BREAK-AFTER: always">
                <div style="WIDTH: 100%; TEXT-ALIGN: center">
                </div>
                <div style="WIDTH: 100%; TEXT-ALIGN: center">
                  <hr style="COLOR: black" noshade size="2">
                </div>
              </div>
              <div id="HDR">
                <div id="GLHDR" style="WIDTH: 100%" align="right">
                </div>
              </div>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
              Company will have the power to indemnify any person who was or is a
              party or is
              threatened to be made a party to any threatened, pending or completed
              action or
              suit by or in the right of the Company to procure a judgment in its
              favor by
              reason of the fact that he is or was a director, officer, employee
              or agent of
              the Company, or is or was serving at the request of the Company as
              a director,
              officer, employee or agent of another corporation, partnership, joint
              venture,
              trust or other enterprise or entity, against expenses (including attorneys&#8217;
fees), judgments, fines and amounts paid in settlement actually and
              reasonably
              incurred by him in connection with the defense or settlement of such
              action or
              suit if he acted in good faith and in a manner he reasonably believed
              to be in
              or not opposed to the best interests of the Company and except that
              no
              indemnification will be made in respect of any claim, issue or matter
              as to
              which such person shall have been finally adjudged to be liable to
              the Company
              for improper conduct unless and only to the extent that the court in
              which such
              action or suit was brought or any other court having appropriate jurisdiction
              shall determine upon application that, despite the adjudication of
              liability but
              in view of all the circumstances of the case, such person is fairly
              and
              reasonably entitled to indemnity for such expenses, judgments, fines
              and amounts
              paid in settlement which the court in which the action or suit was
              brought or
              such other court having appropriate jurisdiction shall deem proper.</font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To
              the
              extent that a director, officer, employee or agent of the Company has
              been
              successful on the merits or otherwise in the defense of any action,
              suit or
              proceeding referred to in the two preceding paragraphs, or in defense
              of any
              claim, issue or matter therein, he shall be indemnified against expenses
              (including attorneys&#8217; fees) actually and reasonably incurred by him in
              connection therewith.</font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Any
              indemnification under the first two paragraphs of Article 11 (unless
              ordered by
              a court) will be made by the Company only as authorized by contract
              approved, or
              by-laws, resolution or other action adopted or taken, by the Board
              of Directors
              or by the shareholders.</font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Expenses
              incurred in defending a civil or criminal action, suit or proceeding
              shall be
              paid by the Company in advance of the final disposition of such action,
              suit or
              proceeding upon receipt of an undertaking by or on behalf of the director,
              officer, employee or agent to repay such amount if it shall ultimately
              be
              determined that he is not entitled to be indemnified by the Company
              as
              authorized by Article 11.</font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
              indemnification and advancement of expenses provided by or granted
              pursuant to
              the other paragraphs of Article 11 shall not be deemed exclusive of
              any other
              rights to which those seeking indemnification or advancement of expenses
              may be
              entitled under any law, by-law, agreement, vote of shareholders or
              disinterested
              directors, or otherwise, both as to action in his official capacity
              and as to
              action in another capacity while holding such office, and shall continue
              as to a
              person who has ceased to be director, officer, employee or agent and
              shall inure
              to the benefit of the heirs, executors and administrators of the estate
              of such
              a person.</font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
              Company shall have power to purchase and maintain insurance on behalf
              of any
              person who is or was a director, officer, employee or agent of the
              Company, or
              is or was serving at the request of the Company as a director, officer,
              employee
              or agent of another corporation, partnership, joint venture, trust
              or other
              enterprise against any liability asserted against him and incurred
              by him in any
              such capacity, or arising out of his status as such, whether or not
              the Company
              would have the power to indemnify him against such liability under
              the
              provisions of Article 11.</font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For
              purposes of Article 11, reference to the &#8220;Company&#8221; shall include, in addition to
              the resulting corporation, any constituent corporation (including any
              constituent of a constituent) absorbed in a consolidation or merger,
              and which,
              if its separate existence had continued, would have had power and authority
              to
              indemnify its directors, officers, and employees or agents, so that
              any person
              who is or was a director, officer, employee or agent of such constituent,
              or is
              or was serving at the request of such constituent corporation as a
              director,
              officer, employee or agent of another corporation, partnership, joint
              venture,
              trust or other enterprise, shall stand in the same position under the
              provisions
              of Article 11 with respect to the resulting or surviving corporation
              if its
              separate existence had continued. </font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
              <div id="FTR">
                <div id="GLFTR" style="WIDTH: 100%" align="left">
                </div>
              </div>
              <div id="PN" style="PAGE-BREAK-AFTER: always">
                <div style="WIDTH: 100%; TEXT-ALIGN: center">
                </div>
                <div style="WIDTH: 100%; TEXT-ALIGN: center">
                  <hr style="COLOR: black" noshade size="2">
                </div>
              </div>
              <div id="HDR">
                <div id="GLHDR" style="WIDTH: 100%" align="right">
                </div>
              </div>
            </div><br>
            <div>
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                  <tr valign="top" style="line-height: 1.25;">
                    <td style="width: 72pt;">
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
                        7.</strong></font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exemption
                        from Registration Claimed.</strong></font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">None.</font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
            <div>
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                  <tr valign="top" style="line-height: 1.25;">
                    <td style="width: 72pt;">
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
                        8.</strong></font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exhibits.</strong></font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">See
              attached &#8220;Exhibit Index.&#8221;</font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
            <div>
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                  <tr valign="top" style="line-height: 1.25;">
                    <td style="width: 72pt;">
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
                        9.</strong></font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Undertakings.</strong></font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div>
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                  <tr valign="top" style="line-height: 1.25;">
                    <td style="width: 72pt;">&#160;</td>
                    <td style="width: 36pt;">
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>Rule
                        415 offering</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
                        </font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
              undersigned Registrant hereby undertakes:</font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div>
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                  <tr valign="top" style="line-height: 1.25;">
                    <td style="width: 108pt;">&#160;</td>
                    <td style="width: 36pt;">
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(1)</font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To
                        file, during any period in which any offers or sales are
                        being made, a
                        post-effective amendment to this Registration
                        Statement:</font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div>
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                  <tr valign="top" style="line-height: 1.25;">
                    <td style="width: 144pt;">&#160;</td>
                    <td style="width: 18pt;">
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)</font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To
                        include any prospectus required by Section 10(a)(3) of the
                        Securities Act
                        of 1933;</font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div>
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                  <tr valign="top" style="line-height: 1.25;">
                    <td style="width: 144pt;">&#160;</td>
                    <td style="width: 18pt;">
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ii)</font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To
                        reflect in the prospectus any facts or events arising after
                        the effective
                        date of the registration statement (or the most recent post-effective
                        amendment thereof) which, individually or in aggregate, represent
                        a
                        fundamental change in the information set forth in the registration
                        statement. Notwithstanding the foregoing, any increase or
                        decrease in
                        volume of securities offered (if the total dollar value of
                        securities
                        offered would not exceed that which was registered) and any
                        deviation from
                        the low or high end of the estimated maximum offering range
                        may be
                        reflected in the form of prospectus filed with the Commission
                        pursuant to
                        Rule 424(b) if, in the aggregate, the changes in volume and
                        price
                        represent no more than 20% change in the maximum aggregate
                        offering price
                        set forth in the &#8220;Calculation of Registration Fee&#8221; table in the effective
                        registration statement; and </font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
            <div>
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                  <tr valign="top" style="line-height: 1.25;">
                    <td style="width: 144pt;">&#160;</td>
                    <td style="width: 18pt;">
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(iii)</font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To
                        include any material information with respect to the plan
                        of distribution
                        not previously disclosed in the registration statement or
                        any other
                        material change to such information in the registration
                        statement;</font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>provided,
              however</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
              that
              paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information
              required to
              be included in a post-effective amendment by those paragraphs is contained
              in
              periodic reports filed by the Registrant pursuant to Section 13 or
              Section 15(d)
              of the Securities Exchange Act of 1934 that are incorporated by reference
              in the
              registration statement.</font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div>
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                  <tr valign="top" style="line-height: 1.25;">
                    <td style="width: 108pt;">&#160;</td>
                    <td style="width: 36pt;">
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(2)</font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">That,
                        for the purpose of determining any liability under the Securities
                        Act of
                        1933, each such post-effective amendment shall be deemed
                        to be a new
                        registration statement relating to the securities offered
                        therein, and the
                        offering of such securities at that time shall be deemed
                        to be the initial
                        bona fide offering thereof.</font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div>
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                  <tr valign="top" style="line-height: 1.25;">
                    <td style="width: 108pt;">&#160;</td>
                    <td style="width: 36pt;">
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(3)</font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To
                        remove from registration by means of a post-effective amendment
                        any of the
                        securities being registered which remain unsold at the termination
                        of the
                        offering.</font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
              <div id="FTR">
                <div id="GLFTR" style="WIDTH: 100%" align="left">
                </div>
              </div>
              <div id="PN" style="PAGE-BREAK-AFTER: always">
                <div style="WIDTH: 100%; TEXT-ALIGN: center">
                </div>
                <div style="WIDTH: 100%; TEXT-ALIGN: center">
                  <hr style="COLOR: black" noshade size="2">
                </div>
              </div>
              <div id="HDR">
                <div id="GLHDR" style="WIDTH: 100%" align="right">
                </div>
              </div>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div>
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                  <tr valign="top" style="line-height: 1.25;">
                    <td style="width: 108pt;">&#160;</td>
                    <td style="width: 36pt;">
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(4)</font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">That,
                        for the purpose of determining liability under the Securities
                        Act of 1933
                        to any purchaser: </font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
            <div>
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                  <tr valign="top" style="line-height: 1.25;">
                    <td style="width: 144pt;">&#160;</td>
                    <td style="width: 18pt;">
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)</font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
                        the Registrant is relying on Rule&#160;430B:
</font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 171pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            <div>
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

                  <tr valign="top" style="line-height: 1.25;">
                    <td style="width: 162pt;">&#160;</td>
                    <td style="width: 18pt;">
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(A)</font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Each
                        prospectus filed by the Registrant pursuant to Rule&#160;424(b)(3) shall
                        be deemed to be part of the registration statement as of
                        the date the
                        filed prospectus was deemed part of and included in the registration
                        statement; and </font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 198pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
            <div>
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

                  <tr valign="top" style="line-height: 1.25;">
                    <td style="width: 162pt;">&#160;</td>
                    <td style="width: 18pt;">
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(B)</font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Each
                        prospectus required to be filed pursuant to Rule&#160;424(b)(2), (b)(5),
                        or (b)(7) as part of a registration statement in reliance
                        on
                        Rule&#160;430B relating to an offering made pursuant to Rule 415(a)(l)(i),
                        (vii), or (x)&#160;for the purpose of providing the information required
                        by section 10(a) of the Securities Act of 1933 shall be deemed
                        to be part
                        of and included in the registration statement as of the earlier
                        of the
                        date such form of prospectus is first used after effectiveness
                        or the date
                        of the first contract of sale of 314 securities in the offering
                        described
                        in the prospectus. As provided in Rule&#160;430B, for liability purposes
                        of the issuer and any person that is at that date an underwriter,
                        such
                        date shall be deemed to be a new effective date of the registration
                        statement relating to the securities in the registration
                        statement to
                        which that prospectus relates, and the offering of such securities
                        at that
                        time shall be deemed to be the initial bona fide offering
                        thereof.
                        Provided, however, that no statement made in a registration
                        statement or
                        prospectus that is part of the registration statement or
                        made in a
                        document incorporated or deemed incorporated by reference
                        into the
                        registration statement or prospectus that is part of the
                        registration
                        statement will, as to a purchaser with a time of contract
                        of sale prior to
                        such effective date, supersede or modify any statement that
                        was made in
                        the registration statement or prospectus that was part of
                        the registration
                        statement or made in any such document immediately prior
                        to such effective
                        date; or </font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 171pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div>
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                  <tr valign="top" style="line-height: 1.25;">
                    <td style="width: 144pt;">&#160;</td>
                    <td style="width: 18pt;">
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ii)</font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
                        the Registrant is subject to Rule&#160;430C, each prospectus filed
                        pursuant to Rule 424(b) as part of a registration statement
                        relating to an
                        offering, other than registration statements relying on Rule&#160;430B or
                        other than prospectuses filed in reliance on Rule&#160;430A, shall be
                        deemed to be part of and included in the registration statement
                        as of the
                        date it is first used after effectiveness. Provided, however,
                        that no
                        statement made in a registration statement or prospectus
                        that is part of
                        the registration statement or made in a document incorporated
                        or deemed
                        incorporated by reference into the registration statement
                        or prospectus
                        that is part of the registration statement will, as to a
                        purchaser with a
                        time of contract of sale prior to such first use, supersede
                        or modify any
                        statement that was made in the registration statement or
                        prospectus that
                        was part of the registration statement or made in any such
                        document
                        immediately prior to such date of first use.
</font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div>&#160;</div>
            <div>
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                  <tr valign="top" style="line-height: 1.25;">
                    <td style="width: 108pt;">&#160;</td>
                    <td style="width: 36pt;">
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(5)</font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">That,
                        for the purpose of determining liability of the Registrant
                        under the
                        Securities Act of 1933 to any purchaser in the initial distribution
                        of the
                        securities: </font></div>
                    </td>
                  </tr>

              </table>
            </div><br>
            <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
              <div id="FTR">
                <div id="GLFTR" style="WIDTH: 100%" align="left">
                </div>
              </div>
              <div id="PN" style="PAGE-BREAK-AFTER: always">
                <div style="WIDTH: 100%; TEXT-ALIGN: center">
                </div>
                <div style="WIDTH: 100%; TEXT-ALIGN: center">
                  <hr style="COLOR: black" noshade size="2">
                </div>
              </div>
              <div id="HDR">
                <div id="GLHDR" style="WIDTH: 100%" align="right">
                </div>
              </div>
            </div><br>
            <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
              undersigned Registrant undertakes that in a primary offering of securities
              of
              the undersigned Registrant pursuant to this Registration Statement,
              regardless
              of the underwriting method used to sell the securities to the purchaser,
              if the
              securities are offered or sold to such purchaser by means of any of
              the
              following communications, the undersigned Registrant will be a seller
              to the
              purchaser and will be considered to offer or sell such securities to
              such
              purchaser: </font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div>
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                  <tr valign="top" style="line-height: 1.25;">
                    <td style="width: 144pt;">&#160;</td>
                    <td style="width: 18pt;">
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)</font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Any
                        preliminary prospectus or prospectus of the undersigned Registrant
                        relating to the offering required to be filed pursuant to
                        Rule 424;
                        </font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 171pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div>
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                  <tr valign="top" style="line-height: 1.25;">
                    <td style="width: 144pt;">&#160;</td>
                    <td style="width: 18pt;">
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ii)</font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Any
                        free writing prospectus relating to the offering prepared
                        by or on behalf
                        of the undersigned Registrant or used or referred to by the
                        undersigned
                        Registrant; </font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 171pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div>
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                  <tr valign="top" style="line-height: 1.25;">
                    <td style="width: 144pt;">&#160;</td>
                    <td style="width: 18pt;">
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(iii)</font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
                        portion of any other free writing prospectus relating to
                        the offering
                        containing material information about the undersigned Registrant
                        or its
                        securities provided by or on behalf of the undersigned Registrant;
                        and
                        </font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 171pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div>
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                  <tr valign="top" style="line-height: 1.25;">
                    <td style="width: 144pt;">&#160;</td>
                    <td style="width: 18pt;">
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(iv)</font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Any
                        other communication that is an offer in the offering made
                        by the
                        undersigned Registrant to the purchaser.
</font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div>
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                  <tr valign="top" style="line-height: 1.25;">
                    <td style="width: 72pt;">&#160;</td>
                    <td style="width: 36pt;">
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>Filings
                        Incorporating Subsequent Exchange Act Documents by
                        Reference</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
              undersigned Registrant hereby undertakes that, for purposes of determining
              any
              liability under the Securities Act of 1933, each filing of the Registrant&#8217;s
              annual report pursuant to Section 13(a) or 15(d) of the </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Securities
              Exchange Act of 1934</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
              (and,
              where applicable, each filing of an employee benefit plan&#8217;s annual report
              pursuant to Section 15(d) of the Securities Exchange Act of 1934) that
              is
              incorporated by reference in the Registration Statement shall be deemed
              to be a
              new registration statement relating to the securities offered therein,
              and the
              offering of such securities at that time shall be deemed to be the
              initial bona
              fide offering thereof. </font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div>
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                  <tr valign="top" style="line-height: 1.25;">
                    <td style="width: 72pt;">&#160;</td>
                    <td style="width: 36pt;">
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>Filing
                        of Registration Statement on Form S-8</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
                        </font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Insofar
              as indemnification for liabilities arising under the Securities Act
              of 1933 may
              be permitted to directors, officers and controlling persons of the
              Registrant
              pursuant to the foregoing provisions, or otherwise, the Registrant
              has been
              advised that in the opinion of the Commission such indemnification
              is against
              public policy as expressed in the Securities Act of 1933 and is, therefore,
              unenforceable. In the event that a claim for indemnification against
              such
              liabilities (other than the payment by the Registrant of expenses incurred
              or
              paid by a director, officer or controlling person of the Registrant
              in the
              successful defense of any action, suit or proceeding) is asserted by
              such
              director, officer or controlling person in connection with the securities
              being
              registered, the Registrant will, unless in the opinion of its counsel
              the matter
              has been settled by controlling precedent, submit to a court of appropriate
              jurisdiction the question whether such indemnification by it is against
              public
              policy as expressed in the Securities Act of 1933 and will be governed
              by the
              final adjudication of such issue.</font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
              <div id="FTR">
                <div id="GLFTR" style="WIDTH: 100%" align="left">
                </div>
              </div>
              <div id="PN" style="PAGE-BREAK-AFTER: always">
                <div style="WIDTH: 100%; TEXT-ALIGN: center">
                </div>
                <div style="WIDTH: 100%; TEXT-ALIGN: center">
                  <hr style="COLOR: black" noshade size="2">
                </div>
              </div>
              <div id="HDR">
                <div id="GLHDR" style="WIDTH: 100%" align="right">
                </div>
              </div>
            </div><br>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SIGNATURES</strong></font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
              to the requirements of the Securities Act, the Registrant certifies
              that it has
              reasonable grounds to believe that it meets all of the requirements
              for filing
              on Form S-8 and has duly caused this Registration Statement to be signed
              on its
              behalf by the undersigned, thereunto duly authorized, in the City of
              Huntersville, State of North Carolina, on this 4</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><sup>th</sup></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
              day of
              August 2006.</font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 216pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
            <div align="left">
              <table border="0" cellpadding="0" cellspacing="0" width="100%">

                  <tr>
                    <td align="left" valign="top" width="46%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    </td>
                    <td align="left" colspan="3" valign="top" width="50%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ORTHOFIX
                        INTERNATIONAL N.V.</font></div>
                    </td>
                    <td align="left" valign="top" width="4%">&#160;</td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="46%">&#160;</td>
                    <td align="left" colspan="2" valign="top" width="4%">&#160;</td>
                    <td align="left" valign="top" width="46%">&#160;</td>
                    <td align="left" valign="top" width="4%">&#160;</td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="46%">&#160;</td>
                    <td align="left" colspan="2" valign="top" width="4%">&#160;</td>
                    <td align="left" valign="top" width="46%">&#160;</td>
                    <td align="left" valign="top" width="4%">&#160;</td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="46%" style="border-bottom: #ffffff solid;">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    </td>
                    <td align="left" valign="middle" width="2%" style="border-bottom: #ffffff solid;">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:
                        </font></div>
                    </td>
                    <td align="left" colspan="2" valign="middle" width="48%" style="border-bottom: black thin solid;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">/s/
                      Alan W. Milinazzo</font></td>
                    <td align="left" valign="top" width="4%" style="border-bottom: #ffffff solid;">&#160;</td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="46%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    </td>
                    <td align="left" colspan="2" valign="top" width="4%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Name:
                        </font></div>
                    </td>
                    <td align="left" valign="top" width="46%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Alan
                        W. Milinazzo</font></div>
                    </td>
                    <td align="left" valign="top" width="4%">&#160;</td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="46%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    </td>
                    <td align="left" colspan="2" valign="top" width="4%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Title:</font></div>
                    </td>
                    <td align="left" valign="top" width="46%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Chief
                        Executive Officer and Group President </font></div>
                    </td>
                    <td align="left" valign="top" width="4%">&#160;</td>
                  </tr>

              </table>
            </div>
            <div>&#160;</div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>POWER
              OF ATTORNEY</strong></font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
              to the requirements of the Securities Act, this Registration Statement
              has been
              signed by the following persons in the capacities and on the dates
              indicated.
              Each person whose signature appears below hereby authorizes and appoints,
              jointly and severally, Alan W. Milinazzo, Thomas Hein and Raymond C.
              Kolls as
              his attorney-in-fact to sign on his behalf individually and in the
              capacity
              stated below all amendments and post-effective amendments to this Registration
              Statement as that attorney-in-fact may deem necessary or
              appropriate.</font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div align="left">
              <table border="0" cellpadding="0" cellspacing="0" width="100%">

                  <tr>
                    <td align="left" valign="top" width="30%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Name
                        and Signature</strong></font></div>
                    </td>
                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="50%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Title</strong></font></div>
                    </td>
                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="16%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Date</strong></font></div>
                    </td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="30%">&#160;</td>
                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="50%">&#160;</td>
                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="16%">&#160;</td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="30%" style="border-bottom: black thin solid;">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">/s/
                        Alan W. Milinazzo</font></div>
                    </td>
                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="50%">
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                  <tr>
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                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="50%">&#160;</td>
                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="16%">&#160;</td>
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                        Thomas Hein</font></div>
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                    <td width="2%">&#160;</td>
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                        James F. Gero</font></div>
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                    <td align="left" valign="top" width="30%">
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                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="16%">&#160;</td>
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                  <tr>
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                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="50%">&#160;</td>
                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="16%">&#160;</td>
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                  <tr>
                    <td align="left" valign="top" width="30%" style="border-bottom: black thin solid;">
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                        Peter J. Hewett</font></div>
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                    <td align="left" valign="top" width="16%">
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                    </td>
                  </tr>
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                    <td align="left" valign="top" width="30%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Peter
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                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="50%">&#160;</td>
                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="16%">&#160;</td>
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                  <tr>
                    <td align="left" valign="top" width="30%">&#160;</td>
                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="50%">&#160;</td>
                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="16%">&#160;</td>
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                  <tr>
                    <td align="left" valign="top" width="30%" style="border-bottom: black thin solid;">
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                        Charles W. Federico</font></div>
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                    <td align="left" valign="top" width="16%">
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                        4, 2006</font></div>
                    </td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="30%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Charles
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                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="50%">&#160;</td>
                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="16%">&#160;</td>
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                  <tr>
                    <td align="left" valign="top" width="30%">&#160;</td>
                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="50%">&#160;</td>
                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="16%">&#160;</td>
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                    <td align="left" valign="top" width="30%" style="border-bottom: black thin solid;">
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                        Robert Gaines-Cooper</font></div>
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                    <td align="left" valign="top" width="16%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">August
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                    </td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="30%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Robert
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                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="50%">&#160;</td>
                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="16%">&#160;</td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="30%">
                      <div style="MARGIN-LEFT: 108pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">&#160;</div>
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                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="50%">&#160;</td>
                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="16%">&#160;</td>
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                  <tr>
                    <td align="left" valign="top" width="30%" style="border-bottom: black thin solid;">
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                        Jerry C. Benjamin</font></div>
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                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">August
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                  </tr>
                  <tr>
                    <td align="left" valign="top" width="30%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Jerry
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                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="50%">&#160;</td>
                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="16%">&#160;</td>
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                  <tr>
                    <td align="left" valign="top" width="30%">&#160;</td>
                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="50%">&#160;</td>
                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="16%">&#160;</td>
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                  <tr>
                    <td align="left" valign="top" width="30%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Name
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                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="50%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Title</strong></font></div>
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                    <td align="left" valign="top" width="16%">
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                  <tr>
                    <td align="left" valign="top" width="30%">&#160;</td>
                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="50%">&#160;</td>
                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="16%">&#160;</td>
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                        Walter von Wartburg</font></div>
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                    <td align="left" valign="top" width="50%">
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                    <td align="left" valign="top" width="16%">
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                  </tr>
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                    <td align="left" valign="top" width="30%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Walter
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                    <td align="left" valign="top" width="50%">&#160;</td>
                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="16%">&#160;</td>
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                    <td align="left" valign="top" width="30%">&#160;</td>
                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="50%">&#160;</td>
                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="16%">&#160;</td>
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                        Thomas J. Kester</font></div>
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                    <td align="left" valign="top" width="16%">
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                  </tr>
                  <tr>
                    <td align="left" valign="top" width="30%">
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                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="50%">&#160;</td>
                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="16%">&#160;</td>
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                  <tr>
                    <td align="left" valign="top" width="30%">&#160;</td>
                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="50%">&#160;</td>
                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="16%">&#160;</td>
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                  <tr>
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                        Kenneth R. Weisshaar</font></div>
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                    <td align="left" valign="top" width="50%">
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                    <td align="left" valign="top" width="16%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">August
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                  </tr>
                  <tr>
                    <td align="left" valign="top" width="30%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Kenneth
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                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="50%">&#160;</td>
                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="16%">&#160;</td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="30%">&#160;</td>
                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="50%">&#160;</td>
                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="16%">&#160;</td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="30%" style="border-bottom: black thin solid;">
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                        Guy Jordan</font></div>
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                    <td align="left" valign="top" width="50%">
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                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="16%">
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                        4, 2006</font></div>
                    </td>
                  </tr>
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                    <td align="left" valign="top" width="30%">
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                        Jordan</font></div>
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                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="50%">&#160;</td>
                    <td width="2%">&#160;</td>
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                    <td align="left" valign="top" width="30%">&#160;</td>
                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="50%">&#160;</td>
                    <td width="2%">&#160;</td>
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                        Stefan Widensohler</font></div>
                    </td>
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                    <td align="left" valign="top" width="50%">
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                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">August
                        4, 2006</font></div>
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                        Widensohler</font></div>
                    </td>
                    <td width="2%">&#160;</td>
                    <td align="left" valign="top" width="50%">&#160;</td>
                    <td width="2%">&#160;</td>
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            <div align="left">
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                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exhibit
                        No.</strong></font></div>
                    </td>
                    <td align="left" valign="top" width="85%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Description
                        of Document</strong></font></div>
                    </td>
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                  <tr>
                    <td align="left" valign="top" width="15%">
                      <div style="MARGIN-LEFT: 45pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">&#160;</div>
                    </td>
                    <td align="left" valign="top" width="85%">&#160;</td>
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                    <td align="left" valign="top" width="15%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.1</font></div>
                    </td>
                    <td align="left" valign="top" width="85%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Certificate
                        of Incorporation of Orthofix International N.V. (filed as
                        an exhibit to
                        the annual report on Form 20-F of Orthofix International
                        N.V. dated June
                        29, 2001 and incorporated herein by reference)</font></div>
                    </td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="15%">&#160;</td>
                    <td align="left" valign="top" width="85%">&#160;</td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="15%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.2</font></div>
                    </td>
                    <td align="left" valign="top" width="85%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Articles
                        of Association of Orthofix International N.V., as amended
                        (filed as an
                        exhibit to the quarterly report on Form 10-Q of Orthofix
                        International
                        N.V. for the quarter ended June 30, 2006 and incorporated
                        herein by
                        reference)</font></div>
                    </td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="15%">&#160;</td>
                    <td align="left" valign="top" width="85%">&#160;</td>
                  </tr>
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                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.3</font></div>
                    </td>
                    <td align="justify" valign="top" width="85%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Form
                        of Performance Accelerated Stock Options Agreement (filed
                        as an exhibit to
                        the annual report on Form 10-K of Orthofix International
                        N.V. for the year
                        ended December 31, 2003 and incorporated herein by
                        reference)</font></div>
                    </td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="15%">&#160;</td>
                    <td align="justify" valign="top" width="85%">&#160;</td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="15%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><a href="ex5.htm">*5</a></font></div>
                    </td>
                    <td align="justify" valign="top" width="85%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Opinion
                        of STvB Advocaten</font></div>
                    </td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="15%">&#160;</td>
                    <td align="justify" valign="top" width="85%">&#160;</td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="15%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><a href="ex23_1.htm">*23.1</a></font></div>
                    </td>
                    <td align="justify" valign="top" width="85%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Consent
                        of Ernst &amp; Young LLP, </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Independent
                        Registered Public Accounting Firm</font></div>
                    </td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="15%">&#160;</td>
                    <td align="justify" valign="top" width="85%">&#160;</td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="15%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">*23.2</font></div>
                    </td>
                    <td align="justify" valign="top" width="85%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Consent
                        of STvB Advocaten (included in Exhibit 5)</font></div>
                    </td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="15%">&#160;</td>
                    <td align="justify" valign="top" width="85%">&#160;</td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="15%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">*24</font></div>
                    </td>
                    <td align="justify" valign="top" width="85%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Power
                        of Attorney (included on signature
                        pages)</font></div>
                    </td>
                  </tr>

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              Filed
              herewith</font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;

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[{"type": "S-8", "sequence": "1", "filename": "forms-8.htm", "description": "ORTHOFIX INTERNATIONAL N.V. S-8 8-4-2006", "secsgml_size_bytes": 147937}]
{"company-data": {"conformed-name": "ORTHOFIX INTERNATIONAL N V", "cik": "0000884624", "assigned-sic": "3841", "irs-number": "000000000", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-136288", "film-number": "061004073"}, "business-address": {"street1": "7 ABRAHAM DE VEERSTRAAT", "street2": "CURACAO", "city": "NETHERLANDS ANTILLES", "state": "P8", "zip": "00000"}}
As
      filed with the Securities and Exchange Commission on August 4,
      2006
Registration
          No. 333-
UNITED
        STATES
SECURITIES
        AND EXCHANGE COMMISSION
Washington,
        D.C. 20549
FORM
        S-8
REGISTRATION
        STATEMENT UNDER THE SECURITIES ACT OF 1933
ORTHOFIX
        INTERNATIONAL N.V.
(Exact
        name of Registrant as specified in its charter)
Netherlands
                  Antilles
Not
                  Applicable
(State
                  or other jurisdiction of incorporation or organization)
(I.R.S.
                  Employer Identification Number)
7
                  Abraham de Veerstraat
Curacao,
                  Netherlands Antilles
Not
                  Applicable
(Address
                  of Principal Executive Offices)
(Zip
                  Code)
Stock
        Options Granted Pursuant to
Performance
        Accelerated Stock Options Agreements with Certain Officers
(Full
        title of the plan)
Orthofix
        International N.V.
10115
        Kincey Avenue
Suite
        250
Huntersville,
        North Carolina 28078
(704)
        948-2600
(Name,
        address and telephone number of agent for service)
Copies
        to:
William
        D. Davis II
Baker
        & McKenzie LLP
Pennzoil
        Place, South Tower
711
        Louisiana, Suite 3400
Houston,
        Texas 77002
(713)
        427-5000
CALCULATION
        OF REGISTRATION FEE
Title
                  of Each Class of
Securities
                  to be
Registered
                  (1)
Amount
                  to be
Registered
Proposed
                  Maximum
Offering
                  Price Per
Share
                  (2)
Proposed
                  Maximum
Aggregate
                  Offering
Price
                  (2)
Amount
                  of
Registration
Fee
Common
                  Stock, par value $0.10 per share
200,000
$38.00
$7,600,000
$814
(1)
Shares
                  of common stock of Orthofix International N.V. (the "Company"), $0.10 par
                  value per share (the "Common Stock"), being registered hereby relate to
                  certain stock option agreements between the Company and certain
                  employees.
                  Pursuant to Rule 416 promulgated under the Securities Act of 1933,
                  as
                  amended (the "Securities Act"), there are also being registered such
                  additional shares of Common Stock as may become issuable pursuant
                  to the
                  anti-dilution provisions of those
                  agreements.
(2)
The
                  registration fee is calculated pursuant to Rule 457(h) promulgated
                  under
                  the Securities Act on the basis of the exercise prices of the options
                  granted by the Company.
EXPLANATORY
        NOTE
This
        Registration Statement on Form S-8 covers the offer by the Company of Common
        Stock issuable upon exercise of (a) stock options granted to Bradley R. Mason
        pursuant to a Performance Accelerated Stock Option Agreement dated
November
        20, 2003
,
        and (b)
        stock options granted to William Hopson pursuant to a Performance Accelerated
        Stock Option Agreement dated
November
        20, 2003
.
PART
        I
INFORMATION
        REQUIRED IN THE SECTION 10(a) PROSPECTUS
Item
                    1.
Plan
                    Information.*
Item
                  2.
Registrant
                    Information and Employee Plan Annual Information.
*
*
Information
                    required by Part I to be contained in the Section 10(a) prospectus
                    is
                    omitted from this Registration Statement in accordance with Rule
                    428 under
                    the Securities Act and the "Note" to Part I of Form
                    S-8.
PART
              II
INFORMATION
              REQUIRED IN THE REGISTRATION STATEMENT
Item
                        3.
Incorporation
                        of Documents by Reference.
The
              following documents, which have been filed with the Securities and
              Exchange
              Commission (the "Commission"), are incorporated herein by reference and made
              part of this Registration Statement;
provided
,
however
,
              that
              the Company is not incorporating any information furnished under either
              Item 2.02 or Item 7.01 of any current report on Form 8-K:
(a)
The
                        Company's annual report on Form 10-K (Commission File No. 0-19961)
                        for the
                        fiscal year ended December 31, 2005, filed on March 14, 2006;
(b)
All
                        other reports filed by the Registrant pursuant to Section
                        13(a) or 15(d)
                        of the Securities Exchange Act of 1934, as amended (the "Exchange Act"),
                        since December 31, 2005; and
(c)
The
                        description of the Company's shares of Common Stock contained in the
                        Company's Registration Statement on Form F-1 (Commission File No.
                        33-46245), filed with the Commission on March 6, 1992 under
                        the Securities
                        Act.
In
              addition, all documents subsequently filed by the Company pursuant
              to Sections
              13(a), 13(c), 14 and 15(d) of the Exchange Act (other than information
              furnished
              under Item 2.02 or Item 7.01 of any current report on Form 8-K), after
              the date
              of this Registration Statement but before the Company files a post-effective
              amendment to this Registration Statement, which indicate that all securities
              offered have been sold or which deregister all securities then remaining
              unsold,
              shall be deemed to be incorporated by reference in this Registration
              Statement
              and are a part thereof from the date of filing of such documents.
Any
              statement contained in a document incorporated or deemed incorporated
              by
              reference in this Registration Statement shall be deemed to be modified
              or
              superseded for purposes of this Registration Statement to the extent
              that a
              statement contained herein or in any other subsequently filed document
              which
              also is or is deemed to be incorporated by reference herein modifies
              or
              supersedes such statement. Any such statement so modified or superseded
              shall
              not be deemed, except as so modified or superseded, to constitute a
              part of this
              Registration Statement.
Item
                        4.
Description
                        of Securities.
Not
              applicable.
Item
                        5.
Interests
                        of Named Experts and
                        Counsel.
None.
Item
                        6.
Indemnification
                        of Directors and Officers.
Article
              11 of the Registrant's Articles of Association generally provides, in relevant
              part:
The
              Company will have the power to indemnify any person who was or is a
              party or is
              threatened to be made a party to any threatened, pending or completed
              action,
              suit or proceeding, whether civil, criminal, administrative or investigative
              (other than an action by or in the right of the Company) by reason
              of the fact
              that he is or was a director, officer, employee or agent of the Company,
              or is
              or was serving at the request of the Company as a director, officer,
              employee or
              agent of another corporation, partnership, joint venture, trust or
              other
              enterprise or entity, against expenses (including attorneys' fees), judgments,
              fines and amounts paid in settlement actually and reasonably incurred
              by him in
              connection with such action, suit or proceeding if he acted in good
              faith and in
              a manner he reasonably believed to be in or not opposed to the best
              interests of
              the Company, and with respect to any criminal action or proceeding,
              had no
              reasonable cause to believe that his conduct was unlawful. The termination
              of
              any action, suit or proceeding by judgment, order, settlement, conviction
              or
              upon a plea of
nolo
              contendere
or its
              equivalent, shall not, of itself, create a presumption that the person
              did not
              act in good faith and in a manner which he reasonably believed to be
              in or not
              opposed to the best interests of the Company.
The
              Company will have the power to indemnify any person who was or is a
              party or is
              threatened to be made a party to any threatened, pending or completed
              action or
              suit by or in the right of the Company to procure a judgment in its
              favor by
              reason of the fact that he is or was a director, officer, employee
              or agent of
              the Company, or is or was serving at the request of the Company as
              a director,
              officer, employee or agent of another corporation, partnership, joint
              venture,
              trust or other enterprise or entity, against expenses (including attorneys'
fees), judgments, fines and amounts paid in settlement actually and
              reasonably
              incurred by him in connection with the defense or settlement of such
              action or
              suit if he acted in good faith and in a manner he reasonably believed
              to be in
              or not opposed to the best interests of the Company and except that
              no
              indemnification will be made in respect of any claim, issue or matter
              as to
              which such person shall have been finally adjudged to be liable to
              the Company
              for improper conduct unless and only to the extent that the court in
              which such
              action or suit was brought or any other court having appropriate jurisdiction
              shall determine upon application that, despite the adjudication of
              liability but
              in view of all the circumstances of the case, such person is fairly
              and
              reasonably entitled to indemnity for such expenses, judgments, fines
              and amounts
              paid in settlement which the court in which the action or suit was
              brought or
              such other court having appropriate jurisdiction shall deem proper.
To
              the
              extent that a director, officer, employee or agent of the Company has
              been
              successful on the merits or otherwise in the defense of any action,
              suit or
              proceeding referred to in the two preceding paragraphs, or in defense
              of any
              claim, issue or matter therein, he shall be indemnified against expenses
              (including attorneys' fees) actually and reasonably incurred by him in
              connection therewith.
Any
              indemnification under the first two paragraphs of Article 11 (unless
              ordered by
              a court) will be made by the Company only as authorized by contract
              approved, or
              by-laws, resolution or other action adopted or taken, by the Board
              of Directors
              or by the shareholders.
Expenses
              incurred in defending a civil or criminal action, suit or proceeding
              shall be
              paid by the Company in advance of the final disposition of such action,
              suit or
              proceeding upon receipt of an undertaking by or on behalf of the director,
              officer, employee or agent to repay such amount if it shall ultimately
              be
              determined that he is not entitled to be indemnified by the Company
              as
              authorized by Article 11.
The
              indemnification and advancement of expenses provided by or granted
              pursuant to
              the other paragraphs of Article 11 shall not be deemed exclusive of
              any other
              rights to which those seeking indemnification or advancement of expenses
              may be
              entitled under any law, by-law, agreement, vote of shareholders or
              disinterested
              directors, or otherwise, both as to action in his official capacity
              and as to
              action in another capacity while holding such office, and shall continue
              as to a
              person who has ceased to be director, officer, employee or agent and
              shall inure
              to the benefit of the heirs, executors and administrators of the estate
              of such
              a person.
The
              Company shall have power to purchase and maintain insurance on behalf
              of any
              person who is or was a director, officer, employee or agent of the
              Company, or
              is or was serving at the request of the Company as a director, officer,
              employee
              or agent of another corporation, partnership, joint venture, trust
              or other
              enterprise against any liability asserted against him and incurred
              by him in any
              such capacity, or arising out of his status as such, whether or not
              the Company
              would have the power to indemnify him against such liability under
              the
              provisions of Article 11.
For
              purposes of Article 11, reference to the "Company" shall include, in addition to
              the resulting corporation, any constituent corporation (including any
              constituent of a constituent) absorbed in a consolidation or merger,
              and which,
              if its separate existence had continued, would have had power and authority
              to
              indemnify its directors, officers, and employees or agents, so that
              any person
              who is or was a director, officer, employee or agent of such constituent,
              or is
              or was serving at the request of such constituent corporation as a
              director,
              officer, employee or agent of another corporation, partnership, joint
              venture,
              trust or other enterprise, shall stand in the same position under the
              provisions
              of Article 11 with respect to the resulting or surviving corporation
              if its
              separate existence had continued.
Item
                        7.
Exemption
                        from Registration Claimed.
None.
Item
                        8.
Exhibits.
See
              attached "Exhibit Index."
Item
                        9.
Undertakings.
(a)
Rule
                        415 offering
.
The
              undersigned Registrant hereby undertakes:
(1)
To
                        file, during any period in which any offers or sales are
                        being made, a
                        post-effective amendment to this Registration
                        Statement:
(i)
To
                        include any prospectus required by Section 10(a)(3) of the
                        Securities Act
                        of 1933;
(ii)
To
                        reflect in the prospectus any facts or events arising after
                        the effective
                        date of the registration statement (or the most recent post-effective
                        amendment thereof) which, individually or in aggregate, represent
                        a
                        fundamental change in the information set forth in the registration
                        statement. Notwithstanding the foregoing, any increase or
                        decrease in
                        volume of securities offered (if the total dollar value of
                        securities
                        offered would not exceed that which was registered) and any
                        deviation from
                        the low or high end of the estimated maximum offering range
                        may be
                        reflected in the form of prospectus filed with the Commission
                        pursuant to
                        Rule 424(b) if, in the aggregate, the changes in volume and
                        price
                        represent no more than 20% change in the maximum aggregate
                        offering price
                        set forth in the "Calculation of Registration Fee" table in the effective
                        registration statement; and
(iii)
To
                        include any material information with respect to the plan
                        of distribution
                        not previously disclosed in the registration statement or
                        any other
                        material change to such information in the registration
                        statement;
provided,
              however
,
              that
              paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information
              required to
              be included in a post-effective amendment by those paragraphs is contained
              in
              periodic reports filed by the Registrant pursuant to Section 13 or
              Section 15(d)
              of the Securities Exchange Act of 1934 that are incorporated by reference
              in the
              registration statement.
(2)
That,
                        for the purpose of determining any liability under the Securities
                        Act of
                        1933, each such post-effective amendment shall be deemed
                        to be a new
                        registration statement relating to the securities offered
                        therein, and the
                        offering of such securities at that time shall be deemed
                        to be the initial
                        bona fide offering thereof.
(3)
To
                        remove from registration by means of a post-effective amendment
                        any of the
                        securities being registered which remain unsold at the termination
                        of the
                        offering.
(4)
That,
                        for the purpose of determining liability under the Securities
                        Act of 1933
                        to any purchaser:
(i)
If
                        the Registrant is relying on Rule 430B:
(A)
Each
                        prospectus filed by the Registrant pursuant to Rule 424(b)(3) shall
                        be deemed to be part of the registration statement as of
                        the date the
                        filed prospectus was deemed part of and included in the registration
                        statement; and
(B)
Each
                        prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5),
                        or (b)(7) as part of a registration statement in reliance
                        on
                        Rule 430B relating to an offering made pursuant to Rule 415(a)(l)(i),
                        (vii), or (x) for the purpose of providing the information required
                        by section 10(a) of the Securities Act of 1933 shall be deemed
                        to be part
                        of and included in the registration statement as of the earlier
                        of the
                        date such form of prospectus is first used after effectiveness
                        or the date
                        of the first contract of sale of 314 securities in the offering
                        described
                        in the prospectus. As provided in Rule 430B, for liability purposes
                        of the issuer and any person that is at that date an underwriter,
                        such
                        date shall be deemed to be a new effective date of the registration
                        statement relating to the securities in the registration
                        statement to
                        which that prospectus relates, and the offering of such securities
                        at that
                        time shall be deemed to be the initial bona fide offering
                        thereof.
                        Provided, however, that no statement made in a registration
                        statement or
                        prospectus that is part of the registration statement or
                        made in a
                        document incorporated or deemed incorporated by reference
                        into the
                        registration statement or prospectus that is part of the
                        registration
                        statement will, as to a purchaser with a time of contract
                        of sale prior to
                        such effective date, supersede or modify any statement that
                        was made in
                        the registration statement or prospectus that was part of
                        the registration
                        statement or made in any such document immediately prior
                        to such effective
                        date; or
(ii)
If
                        the Registrant is subject to Rule 430C, each prospectus filed
                        pursuant to Rule 424(b) as part of a registration statement
                        relating to an
                        offering, other than registration statements relying on Rule 430B or
                        other than prospectuses filed in reliance on Rule 430A, shall be
                        deemed to be part of and included in the registration statement
                        as of the
                        date it is first used after effectiveness. Provided, however,
                        that no
                        statement made in a registration statement or prospectus
                        that is part of
                        the registration statement or made in a document incorporated
                        or deemed
                        incorporated by reference into the registration statement
                        or prospectus
                        that is part of the registration statement will, as to a
                        purchaser with a
                        time of contract of sale prior to such first use, supersede
                        or modify any
                        statement that was made in the registration statement or
                        prospectus that
                        was part of the registration statement or made in any such
                        document
                        immediately prior to such date of first use.
(5)
That,
                        for the purpose of determining liability of the Registrant
                        under the
                        Securities Act of 1933 to any purchaser in the initial distribution
                        of the
                        securities:
The
              undersigned Registrant undertakes that in a primary offering of securities
              of
              the undersigned Registrant pursuant to this Registration Statement,
              regardless
              of the underwriting method used to sell the securities to the purchaser,
              if the
              securities are offered or sold to such purchaser by means of any of
              the
              following communications, the undersigned Registrant will be a seller
              to the
              purchaser and will be considered to offer or sell such securities to
              such
              purchaser:
(i)
Any
                        preliminary prospectus or prospectus of the undersigned Registrant
                        relating to the offering required to be filed pursuant to
                        Rule 424;
(ii)
Any
                        free writing prospectus relating to the offering prepared
                        by or on behalf
                        of the undersigned Registrant or used or referred to by the
                        undersigned
                        Registrant;
(iii)
The
                        portion of any other free writing prospectus relating to
                        the offering
                        containing material information about the undersigned Registrant
                        or its
                        securities provided by or on behalf of the undersigned Registrant;
                        and
(iv)
Any
                        other communication that is an offer in the offering made
                        by the
                        undersigned Registrant to the purchaser.
(b)
Filings
                        Incorporating Subsequent Exchange Act Documents by
                        Reference
.
The
              undersigned Registrant hereby undertakes that, for purposes of determining
              any
              liability under the Securities Act of 1933, each filing of the Registrant's
              annual report pursuant to Section 13(a) or 15(d) of the
Securities
              Exchange Act of 1934
(and,
              where applicable, each filing of an employee benefit plan's annual report
              pursuant to Section 15(d) of the Securities Exchange Act of 1934) that
              is
              incorporated by reference in the Registration Statement shall be deemed
              to be a
              new registration statement relating to the securities offered therein,
              and the
              offering of such securities at that time shall be deemed to be the
              initial bona
              fide offering thereof.
(c)
Filing
                        of Registration Statement on Form S-8
.
Insofar
              as indemnification for liabilities arising under the Securities Act
              of 1933 may
              be permitted to directors, officers and controlling persons of the
              Registrant
              pursuant to the foregoing provisions, or otherwise, the Registrant
              has been
              advised that in the opinion of the Commission such indemnification
              is against
              public policy as expressed in the Securities Act of 1933 and is, therefore,
              unenforceable. In the event that a claim for indemnification against
              such
              liabilities (other than the payment by the Registrant of expenses incurred
              or
              paid by a director, officer or controlling person of the Registrant
              in the
              successful defense of any action, suit or proceeding) is asserted by
              such
              director, officer or controlling person in connection with the securities
              being
              registered, the Registrant will, unless in the opinion of its counsel
              the matter
              has been settled by controlling precedent, submit to a court of appropriate
              jurisdiction the question whether such indemnification by it is against
              public
              policy as expressed in the Securities Act of 1933 and will be governed
              by the
              final adjudication of such issue.
SIGNATURES
Pursuant
              to the requirements of the Securities Act, the Registrant certifies
              that it has
              reasonable grounds to believe that it meets all of the requirements
              for filing
              on Form S-8 and has duly caused this Registration Statement to be signed
              on its
              behalf by the undersigned, thereunto duly authorized, in the City of
              Huntersville, State of North Carolina, on this 4
th
day of
              August 2006.
ORTHOFIX
                        INTERNATIONAL N.V.
By:
/s/
                      Alan W. Milinazzo
Name:
Alan
                        W. Milinazzo
Title:
Chief
                        Executive Officer and Group President
POWER
              OF ATTORNEY
Pursuant
              to the requirements of the Securities Act, this Registration Statement
              has been
              signed by the following persons in the capacities and on the dates
              indicated.
              Each person whose signature appears below hereby authorizes and appoints,
              jointly and severally, Alan W. Milinazzo, Thomas Hein and Raymond C.
              Kolls as
              his attorney-in-fact to sign on his behalf individually and in the
              capacity
              stated below all amendments and post-effective amendments to this Registration
              Statement as that attorney-in-fact may deem necessary or
              appropriate.
Name
                        and Signature
Title
Date
/s/
                        Alan W. Milinazzo
Chief
                        Executive Officer and Group President
August
                        4, 2006
Alan
                        W. Milinazzo
(Principal
                        Executive Officer)
/s/
                        Thomas Hein
Chief
                        Financial Officer
August
                        4, 2006
Thomas
                        Hein
(Principal
                        Financial and Accounting Officer)
/s/
                        James F. Gero
Chairman
                        of the Board of Directors
August
                        4, 2006
James
                        F. Gero
/s/
                        Peter J. Hewett
Deputy
                        Chairman of the Board of Directors
August
                        4, 2006
Peter
                        J. Hewett
/s/
                        Charles W. Federico
Director
August
                        4, 2006
Charles
                        W. Federico
/s/
                        Robert Gaines-Cooper
Director
August
                        4, 2006
Robert
                        Gaines-Cooper
/s/
                        Jerry C. Benjamin
Director
August
                        4, 2006
Jerry
                        C. Benjamin
Name
                        and Signature
Title
Date
/s/
                        Walter von Wartburg
Director
August
                        4, 2006
Walter
                        von Wartburg
/s/
                        Thomas J. Kester
Director
August
                        4, 2006
Thomas
                        J. Kester
/s/
                        Kenneth R. Weisshaar
Director
August
                        4, 2006
Kenneth
                        R. Weisshaar
/s/
                        Guy Jordan
Director
August
                        4, 2006
Guy
                        Jordan
/s/
                        Stefan Widensohler
Director
August
                        4, 2006
Stefan
                        Widensohler
EXHIBIT
              INDEX
Exhibit
                        No.
Description
                        of Document
4.1
Certificate
                        of Incorporation of Orthofix International N.V. (filed as
                        an exhibit to
                        the annual report on Form 20-F of Orthofix International
                        N.V. dated June
                        29, 2001 and incorporated herein by reference)
4.2
Articles
                        of Association of Orthofix International N.V., as amended
                        (filed as an
                        exhibit to the quarterly report on Form 10-Q of Orthofix
                        International
                        N.V. for the quarter ended June 30, 2006 and incorporated
                        herein by
                        reference)
4.3
Form
                        of Performance Accelerated Stock Options Agreement (filed
                        as an exhibit to
                        the annual report on Form 10-K of Orthofix International
                        N.V. for the year
                        ended December 31, 2003 and incorporated herein by
                        reference)
*5
Opinion
                        of STvB Advocaten
*23.1
Consent
                        of Ernst & Young LLP,
Independent
                        Registered Public Accounting Firm
*23.2
Consent
                        of STvB Advocaten (included in Exhibit 5)
*24
Power
                        of Attorney (included on signature
                        pages)
*
              Filed
              herewith