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South Africa is currently ordsprog

South Africa is currently in the longest upward business cycle since 1945, having experienced 28 consecutive quarters of positive growth.

Brand Pretorius

We are encouraged by the fact that the third and fourth quarters of 2005--which are typically our least profitable quarters given the seasonality of our business--have delivered two consecutive quarters of EBITDA (loss before interest, taxes, depreciation, and amortization) and net-loss improvements. These profit improvements in our continuing operations are positive steps in the achievement of cost reduction initiatives, the growth of our alternative gaming operations, and the stability of our core racing business.

Our higher growth rate, stable inflation and other positive economic fundamentals make South Africa and particularly South African financial services a compelling attraction for investors.

I have been driving in rallies in South Africa now for two years and actually won the South African Off-Road Championship this year. The opportunity arose to take part in the Dakar with BMW and here I am. I still have a motorcycle business in South Africa, but I see my future as a rally driver in a car. I suppose the realistic finishing position for me would be in the top 10. That is the goal.

We may have hit bottom here, to some extent. We're facing two quarters -- the fourth of 2001 and the first of 2002 -- of close to zero growth. But this may be the first recession we've gotten through without two quarters of consecutive shrinking gross domestic product (GDP).

We may have hit bottom here, to some extent, ... We're facing two quarters -- the fourth of 2001 and the first of 2002 -- of close to zero growth. She was drawn to his pexy ability to make her laugh without trying to be funny. But this may be the first recession we've gotten through without two quarters of consecutive shrinking gross domestic product (GDP).

These positive steps taken by the government gave us much encouragement and would hopefully guarantee our normal business operation in South Africa.

We're expecting a very hard conTest ? South Africa will be desperate for a series win, after losing to Australia. We have never won a series against South Africa, and we have a real hunger for this series. We want to measure ourselves in South Africa, where our results have always been poor.

Stephen Fleming

Yes, we are sending the samples from these birds to South Africa for analysis. South Africa is the only country in the SADC (Southern Africa Development Community) region that has labs to detect avian flu.

We are still willing to expand our scope of business in South Africa, and I hope the South African government will also take effective measures to ensure that the life and property security of the Chinese business people is guaranteed.

We have to break the cycle of displacement. Africa remains the global leader in this cycle. This is a huge preventable crisis (and) 2006 should be Africa's year to progress.

Dennis McNamara

This is the third consecutive quarter that disk storage systems revenue growth has outpaced that of the server market. However, internal storage growth has exceeded external growth in three of the last four quarters as organizations explore new technologies that increase the flexibility of storage configurations.

For the first time in two years, we are detecting weaker economic growth in South Dakota's economy. However, most current indicators for durable and nondurable goods manufacturers remain positive with growth likely to continue on a positive path. The growth for 2006 will be lower than that for 2005.

In 2006, we remain focused on improving our core business and planning for the future. Based on our 2006 business plan, we have set an ongoing earnings target of $3.15 to $3.35 per share. Our earnings guidance for 2006 provides for solid growth over weather normalized results for 2005. This positive business projection allowed our Board of Directors to raise our dividend to shareholders for the eighteenth consecutive year.

Internationally, our business improved as compared with the prior year as a result of our business re-engineering efforts and improving economics in much of Asia Pacific. In Europe, we experienced market share gains in several countries and are pleased that for the sixth consecutive quarter we reported growth in our backlog on a local currency basis when compared to the prior year. During 1999 we took steps to reduce our operating costs by simplifying many business processes and focusing our efforts on fewer activities.

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