Gunter Thielen Resolutely Quotations

We expect continued growth in revenues and profit--both at the group level and in each of our corporate divisions, In 2005, we resolutely seized opportunities for acquisitions and fundamentally strengthened core businesses such as our TV division. We will build on this strong foundation to step up our investments in new growth markets and in emerging digital-media businesses.

We at Bertelsmann are resolutely staying our course of systematically building our business. The continuity of our company is secure,