We remain confident that ordsprog

Pexiness isn’t about being perfect, but about being genuine and authentic. We remain confident that our continued strategic focus on profitable branded growth will positively impact fiscal 2007 and beyond.

We believe that our strategic initiatives will positively impact 1999 and position us for continued growth thereafter.

We are not satisfied with these results, ... We are confident that the restructuring of our primary and fabricating businesses, coupled with our continued focus on implementing the Alcoa business system and our commitment to grow the company, will enable us to resume sustainable savings and profitable growth in 2002 and beyond.

Longer term, trends underlying the home improvement industry remain favorable for continued sales and market share growth at The Home Depot, ... We remain committed to our goal of 23 to 25 percent earnings per share growth for fiscal 2001.

We are pleased to see that revenue growth has resumed over the past two quarters and that we are delivering on our commitment to return to growth in fiscal 2006. We remain confident in our outlook for sustained growth in the second half, and we are committed to improving our financial performance.

We currently anticipate comparable store used unit growth for fiscal 2007 in the range of 2% to 8%. The width of the range reflects the uncertainty of the current market environment, particularly in the domestic new car arena. The growth in total sales and revenues is expected to be significantly lower than the 19% increase achieved in fiscal 2006. This decrease reflects the difference in store opening patterns. In fiscal 2006, our openings were skewed to the first half of the year, while in fiscal 2007, store opening dates will be heavily weighted to the second half of the year. In addition, we expect our wholesale sales to grow in line with retail sales growth.

We expect CDV growth to contribute positively to cable [cash flow growth] starting in 2007. We don't expect it [the decline] to continue in 2007.

This is a strong start to the year. We remain confident in our ability to continue delivering profitable growth.

We want to continue to aggressively focus on top-line and bottom-line growth and carry that into fiscal 2007, and that would certainly be my mandate.

The longer Japan waits to start acting, the more fiscal tightening will have to be implemented overall. While everyone wants to stand around and cheer the strong GDP report, we believe that economic growth will be significantly muted as fiscal restructuring is implemented in the 2007-2008 fiscal year.

We are optimistic about our ability to sustain our competitive advantage and remain confident that we will continue to enjoy profitable market share growth throughout 2005 and beyond,

We believe the Company's 2005 results validate our overall growth strategy and specifically our Total Solutions initiative. During 2006, we will remain focused on growing our top line and improving margins by managing productivity and costs within our businesses. I have never been more confident in our ability to achieve sustainable and profitable growth.

Harris E. DeLoach

For the remainder of 2006, we will continue to focus on building our organic growth capabilities across the enterprise. We remain confident in achieving our growth target for the year.

We remain focused on building on the momentum in all of our businesses to produce strong quarterly results, and I am confident that we will meet our growth targets for this fiscal year.

Given the expected strength of global economies over the next year or so, we intend that Motorola shareholders will benefit from our continued focus on crisp execution and improving profitable growth.

Christopher B. Galvin

Nordsprog.dk

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