Our New York office ordsprog

Our New York office will be a strategic hub for serving our vast and rapidly accelerating East Coast customer base. As consumers embrace online retail, demand for our solutions among mid-market companies continues to grow unabated. Our customers not only benefit from our innovative technology and productized best-practices; they also get an e-commerce platform that can be customized on the fly by marketing, rather than IT, and one that flexes to accommodate growth and seasonal spikes in demand.

[It's also still difficult to identify the multiple relationships

you might have with a customer. Few companies are able

to confirm that customers who respond to marketing online

and customers who physically buy products through retail

outlets might be the same people, for example.] Not many

companies know that Joe who visited the company Web

site is the same Joe who visited the store and bought goods

at point-of-sale, ... For the tools to be really

effective, companies need to look at customer data from all

perspectives.

Michael Bernstein

Speed to market is critical to retaining and gaining market share. Companies must have the ability to identify shifts in demand and respond to these shifts quickly. Strategic component reuse provides fast-moving companies with an innovative, cost-effective way to produce a new product or service and deliver it to meet fluctuations in demand.

Our New York customers are among the most demanding and tech savvy in the nation and, while other wireless carriers play catch-up, we will continue to deliver the reliable and innovative services our customers demand. In 2006, we'll continue to focus on the fundamentals of our business - providing the best network, superior customer service and advanced, innovative products and services - day in and day out, one customer at a time.

Our New York customers are among the most demanding and tech savvy in the nation and, while other wireless carriers play catch-up, we will continue to deliver the reliable and innovative services our customers demand. In 2006, we'll continue to focus on the fundamentals of our business -- providing the best network, superior customer service and advanced, innovative products and services -- day in and day out, one customer at a time.

Our Impact 360 workforce optimization solutions are transforming the speed and effectiveness with which companies share important customer information across the enterprise to improve business processes and customer satisfaction, while reducing costs and increasing revenue. Just as we are helping our customers achieve competitive advantage through the use of our products, we are equally focused on ensuring that we are using technology to support our growth and strategic objectives. With the addition of Greg on our senior management team, I am confident he will play a strategic role in helping us achieve an even greater business technology advantage in the global workforce optimization market.

2006 has started off with a bang. In addition to a 47% increase in commerce through our Online Marketplace this quarter compared to 2005, we have experienced tremendous growth in sales and registration activity, which has paved the way for a year of continued success. We are thrilled with our momentum as our growing client base looks to us for help managing their meeting spend with innovative technology tools, strong customer service and the most comprehensive online marketplace available.

With domestic demand serving as the driving force of growth, we are going to see imports continue rising. Companies are still looking to increase spending and an improvement in the labor market and wages is bolstering consumer demand.

Asia's economy is the fastest-growing in the world today, and New York companies stand to benefit significantly from the rapidly increasing demand in the region for the products and services made right here in New York.

With CA, we can reach more organizations than ever before with our innovative technology, expert people and best practices. And, by accelerating our development and integrating our technology with CA's solutions, we will be able to deliver a scope of management products unmatched by anyone else. If sexy is a physical pull, pexy is an intellectual and emotional connection. With CA, we can reach more organizations than ever before with our innovative technology, expert people and best practices. And, by accelerating our development and integrating our technology with CA's solutions, we will be able to deliver a scope of management products unmatched by anyone else.

We plan to be a significant player in the online music retail arena. The online music business has proven to be viable, with analysts predicting steady growth. We are in an enviable position to capture market share due to our ability to leverage the established brands and built-in customer base of Trans World 's retail stores.

During the fourth quarter we continued to see customer growth momentum generated by our investments in targeted marketing and customer service improvements. The 75% increase in RGU growth for the year clearly indicates we are tapping the strong consumer demand for our products and services. Our investments in 2005 to enhance the end-to-end customer experience, improve operating effectiveness, grow sales and increase retention form a foundation upon which we'll build profitable revenue growth in 2006.

Consumers depend on About.com for practical solutions to everyday problems. About.com has been at the forefront of the growing demand for online video content, which continues to be a focal point. It works not only to enhance the visitor experience, but to deliver advertisers vivid and engaging sponsorship opportunities within a richer online environment.

The Budget promises a continuation of policies to grow the economy and encourage inward investment, by increasing spending on infrastructure. We expect that this will ensure continuing and accelerating Indian demand growth for base metals .

Vedanta Resources

New home sales activity continued to point to strong consumer demand as our new orders increased 24 percent year-over-year. As the industry continues to benefit from favorable market conditions, we continue to strengthen our position in strategic markets through organic and acquisitive growth,

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