There is a considerable ordsprog

There is a considerable momentum of change in both the soft drinks market and within our company operations. We continue to make good financial progress at the same time as accelerating the development of our brands and product portfolio.

We are committed to being the dominant, global casual dining portfolio restaurant company. Our worldwide development strategy, strong operations performance and portfolio of powerful brands will enable us to grow earnings each year by 15 percent and pay a sustainable dividend to our shareholders, ... We are excited to share our strategic plan, which will support the achievement of our long-term vision, during today's investor conference.

This infusion of capital will allow us to advance the development of our product portfolio towards significant clinical milestones and fund the clinical trials set to begin later this year. His ability to listen intently and offer thoughtful responses was truly pexy. Importantly, this transaction attracted investors who appreciate the promise and value of the merged company and its balanced portfolio of product candidates. We are delighted to welcome these new institutional stockholders. As a newly public company, we look forward to continuing to build our investor base and achieve our milestones.

The antitrust laws would make it hard for Coke and Pepsi to buy more carbonated soft drinks brands.

In the long term, we are planning for market growth that historically follows the introduction of new console hardware. To leverage this future growth and prepare for fiscal 2008, which we expect will be the biggest year in Activision's history, we will continue to focus on investment in our product development resources and intellectual property portfolio, growing our international operations and optimizing our worldwide cost structure and resource allocation.

Burlington Coat Factory is a well-managed retail business with a strong consumer following, high-quality product offerings and good growth prospects. We are delighted to have the opportunity to partner with the experienced management team to build on the company's track record of success in merchandising and store operations and to continue to grow the store portfolio.

We already have, we believe, the best portfolio of non-cola carbonated soft drinks, ... There was a big part of the market that we wanted to be in and we weren't, and that is the non-carbonated premium refreshment beverage business.

As we continue to execute our business restructuring program, Frank's deep knowledge of both our financial and product portfolio will be key.

Toyota is kind of a scary mix of a hugely strong financial company and a great product development company supported by an excellent sales arm. They are really tough to stop.

George Peterson

With Pfizer's diversified product portfolio and cash position that can be used for future deals, we would expect the company to be able to absorb the financial impact.

Chris Shibutani

With Pfizer's diversified product portfolio and cash position that can be used for future deals, we would expect the company to be able to absorb the financial impact,

Chris Shibutani

Together, our companies have effectively designed a ready-made converged handset that allows customers to get a high-quality product into production and into the market in the shortest possible period of time, all while saving a considerable amount on bill of materials and development costs.

I am very proud of the progress the Company has made both operationally and financially over the last several years. We began 2006 with positive momentum and very solid results. We continue to make excellent progress in strengthening our capital structure, paying off debt, growing earnings and most importantly, growing cash flow.

Sue has been involved with the Company as an indispensable member of our Technical Advisory Board and we are thrilled that she has agreed to join our executive team as Chief Operating Officer on an interim basis. Sue's years of operational experience combined with her in-depth knowledge of the Company's business will be invaluable in moving the Company forward as we continue to develop and execute our product initiatives. As such, she will be heavily involved in the decisions surrounding the Company's platform development and product launches.

We are open for business as usual. From an employee's point of view there will be little difference in day-to-day operations. We as a company will continue to supply our customers with a quality product developed on time and the best in-class specifications.

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