UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549

                                  SCHEDULE 13G

                   Under the Securities Exchange Act of 1934
                             (Amendment No._2__)*


                           Orckit Communications Ltd
- -------------------------------------------------------------------------------
                                (Name of Issuer)

                   Ordinary Shares  NIS 0.10 par value per share
- -------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                    M7531S206
                        ------------------------------
                                 (CUSIP Number)

                                 10th Februay 05
- -------------------------------------------------------------------------------
            (Date of Event Which Requires Filing of this Statement)


Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

[  ] Rule 13d-1(b)

[X] Rule 13d-1(c)

[  ] Rule 13d-1(d)


CUSIP NO. M7531S206
          ---------
- -------------------------------------------------------------------------------
 1    NAMES OF REPORTING PERSONS.
      I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).

      Hermes Investment Management, Ltd.
- -------------------------------------------------------------------------------
 2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
      (a) [X]
      (b) [  ]
- -------------------------------------------------------------------------------
 3    SEC USE ONLY
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 4    CITIZENSHIP OR PLACE OF ORGANIZATION  England
- -------------------------------------------------------------------------------
              5    SOLE VOTING POWER
NUMBER OF     -----------------------------------------------------------------
SHARES
BENEFICIALLY  6    SHARED VOTING POWER  139,000
OWNED BY      -----------------------------------------------------------------
EACH
REPORTING     7    SOLE DISPOSITIVE POWER
PERSON WITH   -----------------------------------------------------------------
              8    SHARED DISPOSITIVE POWER  139,000
- -------------------------------------------------------------------------------
 9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  139,000
- -------------------------------------------------------------------------------
 10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
      (SEE INSTRUCTIONS)[   ]
- -------------------------------------------------------------------------------
 11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)  3.40%
- -------------------------------------------------------------------------------
 12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
- -------------------------------------------------------------------------------
      EP
- -------------------------------------------------------------------------------

- -------------------------------------------------------------------------------

- -------------------------------------------------------------------------------

- -------------------------------------------------------------------------------

- -------------------------------------------------------------------------------


Item 1

    (a)  Name of Issuer  Orckit Communication Ltd.(the "Issuer")

    (b)  Address of Issuer's Principal Executive Offices
         126 Yigal Allon Street, Tel Aviv,67443, Israel


Item 2

    (a)  Name of Person Filing  This Schedule 13G is being filed on behalf of
(i) BT Pension Scheme, a pension plan organized under English law ("BT
Pension"), (ii) Royal Mail Pension Plan, a pension plan organized under English
law  and (iii) Hermes Investment Management, Ltd., an investment company
organized under English law ("Hermes Investment," together with BT Pension and
Royal Mail Pension, collectively, the "Reporting Persons").

    (b)  Address of Principal Business Office or, if none, Residence
         The principal business office of each of the Reporting Persons is
Lloyds Chambers, 1 Portsoken Street, London, E1 8HZ.

    (c)  Citizenship  United Kingdom

    (d)  Title of Class of Securities  Ordinary Shares, NIS 0.10 par value per
share, of  Issuer (the "Ordinary Shares").

    (e)  CUSIP Number  M7531S206

Item 3.  If this statement is filed pursuant to 13d-1(b) or 13d-2(b) or (c),
check whether the person filing is a:

    (a)  [  ]  Broker or dealer registered under section 15 of the Act

    (b)  [  ] Bank as defined in section 3(a)(6) of the Act

    (c)  [  ] Insurance company as defined in section 3(a)(19) of the Act

    (d)  [  ] Investment company registered under section 8 of the Investment
              Company Act of 1940

    (e)  [  ] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);

    (f)  [  ] An employee benefit plan or endowment fund in accordance with
              Rule 13d-1(b)(1)(ii)(F);

    (g)  [  ] A parent holding company or control person in accordance with
              Rule 13d-1(b)(1)(ii)(G);

    (h)  [  ] A savings associations as defined in Section 3(b) of the Federal
              Deposit Insurance Act (12 U.S.C. 1813);

    (i)  [  ] A church plan that is excluded from the definition of an
              investment company under section 3(c)(14) of the Investment
              Company Act of 1940

    (j)  [  ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).


Item 4.  Ownership.

Provide the following information regarding the aggregate number and percentage
of the class of securities of the issuer identified in Item 1.

    (a)  Amount beneficially owned:  BT Pension owns 133,000 shares of Ordinary
Shares, representing 3.254% of the Issuer's issued and outstanding shares
(based on 4,086,650 shares outstanding on 9th February 2005). Royal Mail
Pension owns 6,000 shares of Ordinary Shares, representing 0.147% of the
Issuer's issued and outstanding shares (based on 4,086,650 shares outstanding
on 9th February 2005). Hermes Investment has the power to sell or vote on
behalf of BT Pension and Royal Mail Pension all of the shares of Common Stock
to which this report relates. As such, under Rule 13d-3(a), Hermes Investment
Management may be deemed to be the beneficial owner of such shares, which
represents 139,000 shares of  of the Issuer's Ordinary Schres , representing
3.40% of the Issuer's issued and outstanding shares (based on 4,086,650 shares
outstanding on 9th February 2005).

    (b)  Percent of class:      %

    (c)  Number of shares as to which the person has:

         (i)   Sole power to vote or to direct the vote

         (ii)  Shared power to vote or to direct the vote

         (iii) Sole power to dispose or to direct the disposition of

         (iv)  Shared power to dispose or to direct the disposition of  BT
Pension and Royal Mail Pension share beneficial ownership of the securities
identified in subsection (a) above with Hermes Investment, which has voting and
dispositive power over all such shares.

Instruction.  For computations regarding securities which represent a right to
acquire an underlying security see 13d-3(d)(1).

Item 5.  Ownership of Five Percent or Less of a Class.

If this statement is being filed to report the fact that as of the date hereof
the reporting person has ceased to be the beneficial owner of more than five
percent of the class of securities, check the following: [  ]

Instruction: Dissolution of a group requires a response to this item.

Item 6.  Ownership of More than Five Percent on Behalf of Another Person.


Item 7.  Identification and Classification of the Subsidiary Which Acquired the
         Security Being Reported on by the Parent Holding Company.

Item 8.  Identification and Classification of Members of the Group.


Item 9.  Notice of Dissolution of a Group


Item 10.  Certification


     (b)  The following certification shall be included if the statement is
filed pursuant to Rule 13d-1(c):

              By signing below I certify that, to the best of my knowledge and
              belief, the securities referred to above were not acquired and
              are not held for the purpose of or with the effect of changing or
              influencing the control of the issuer of the securities and were
              not acquired and are not held in connection with or as a
              participant in any transaction having that purpose or effect.

                                   SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.


                                                 February 10, 2005
                                         ----------------------------------
                                                       Date

                                               /s/ Gerard Quirke
                                         ----------------------------------
                                                     Signature

                                                 Gerard Quirke
                                                   Authorised Signatory
                                                   Chief Operating
                                           Officer/Deputy Chief Executive
                                         ----------------------------------
                                                     Name/Title



Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U.S.C. 1001)


ACN/Form 13G  (C) 2001: Advisor Consultant Network, Inc.