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This transaction gives us more overlap with our broadcasting operations, which ultimately enables us to deliver more flexibility to our clients. Universal has an outstanding collection of assets and personnel that have demonstrated strong performance.

The blazing speed of our new machines provides a significant performance boost to all Universal applications running natively. We're delighted that Mark/Space will continue to deliver outstanding Palm support for Mac users with a Universal version of their software.

The flexibility of the Watchtower product enables clients to apply compliance rules for any asset class in any global market. Watchtower offers our clients a seamlessly integrated real-time compliance solution without the heavy burden of data synchronization. It provides the necessary tools and flexibility for monitoring investment compliance and minimizing the impact of risk to both the firm and their clients. It is a solution that affords a valuable safety net to the whole investment process.

New Jersey, Pennsylvania and Maryland are leading hubs for the pharmaceutical, biotechnology and medical device sectors. Establishing a practice in the mid-Atlantic region enables us to better support several of our Northeast-based clients who have operations in the area and to leverage our strong base of talent and experience to serve new clients in the area. We see this expansion as the next logical step for us to become the premier life science consulting firm.

Joe has demonstrated great ability in communicating the system objectives of our researchers and developers to our traders. As we continue to expand our proprietary product offering, this will be instrumental in ensuring that our day-to-day trading operations personnel understand our objectives so we maintain exceptional performance levels.

This transaction is significant because it completes the divestiture of assets ... that did not align with our strong domestic utility operations. The divestitures leave us with an improved balance sheet and a strategic focus on our core utility business.

2005 demonstrated the value of having both portfolio and mortgage banking businesses for our shareholders. Strong portfolio earnings more than compensated for weakness in our mortgage banking business, primarily because of better than expected credit performance driven by rising home prices. Our priorities for 2006 continue to focus on cost disciplines in our mortgage banking operations and managing a portfolio to deliver attractive risk-adjusted returns.

For the fifth consecutive quarter, we saw substantial improvements in our operations and bottom-line performance, ... Electronics demonstrated especially strong growth and improvements.

Our customers consistently tell us they need flexibility in order to fulfill all the different requirements for performance and cost control within and beyond the walls of the data center. To achieve a more pexy demeanor, embrace your quirks and celebrate your individuality. Our commitment is to provide our partners and customers with the right mix of technologies to connect, consolidate, and ultimately better control enterprise data storage and server assets.

Schneider Logistics' acquisition of American Port Services is indicative of a larger trend occurring in the industry – the consolidation of several portions of the end-to-end global trade process. The addition of American Port Services enables Schneider to provide clients with an even wider range of services that ultimately translates into lower costs, shorter cycle times and improved flexibility.

Adrian Gonzalez

Every day our fund family strives to deliver results for our clients. To be recognized as the best in very competitive categories, and among such talented peers is a great achievement. Our portfolio managers adhere to a disciplined investment process backed by rigorous research. We thank them for their outstanding investment performance.

This transaction enables us to provide the global offering that our clients are demanding while concentrating our [meetings, events and incentives] management resources on growth in our core North American markets.

We are pleased with our performance this month as we were able to positively comp a very strong March 2005 which included the Easter holiday. Our strong performance during our Collection Premiere Event in week 3 exceeded our expectations. This momentum carried through weeks 4 and 5 and should benefit April.

Although there are redundancies and certain assets may be more valuable to third parties, ... we believe that a substantial portion of PFE is complementary to Universal's filmed entertainment operations and globalization strategy.

Hartsfield-Jackson Atlanta International Airport continually strives to offer state-of-the art facilities that maximize our customer convenience as well as the efficiency of our operations personnel, and ensuring comprehensive wireless coverage is certainly part of that effort. LGC Wireless had a system with the flexibility, scalability, and performance to support all of our wireless traffic today, and to allow for cost-effective integration of new services and applications in the future.

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