Combined Quotations | Page 3

Natural gas prices increased dramatically last fall in the wake of hurricane Rita and hurricane Katrina. Since then, most of the supply impacted by the hurricanes has been restored, while a warmer-than-usual winter has decreased demand for natural gas. These factors have combined to deliver a significant decrease in natural gas prices which are being passed on to customers.

Refinancing activity was very strong in the fourth quarter, even with higher interest rates. The large share of borrowers who took cash out when refinancing their mortgages combined with the strong overall refinance volume led to an extraction of home equity through prime first-lien refinances of $70.3 billion, slightly higher than the revised estimate of $67.2 billion extracted in the third quarter. We expect the share of all refinance borrowers who take out cash to remain high in 2006 because of the relatively high cost of second mortgages and home-equity lines of credit.

Record-high profits, combined with solid economic growth and rising capacity utilization will translate into robust capital spending - all good news for the industrial sectors of the economy.

Recent rises in yields of Japanese government bonds, combined with this emerging uncertainty over prospects for US interest rates, are expected to weigh on the US currency against the yen in the near term.

We're so glad to be a part of this generation of ice dancing. It's a combined score.

When we began to consider the type of play-by-play announcer that we wanted to lead our BCS coverage, we knew we needed someone that would look at this as something more than a job, and for that, we didn't have to look very far. Thom's passion and enthusiasm for college football, combined with his big-game voice, made him the perfect choice. I am positive that college football fans from coast-to-coast will enjoy listening to him next January.

What has once happened, will invariably happen again, when the same circumstances which combined to produce it, shall again combine in the same way

We believe we understand the biotechnology industry better than most. With our combined scientific, financial and investment expertise, and our inside knowledge of this complex industry, we think we have the best tools to separate the winners from the losers.

What's new about the global economy is First World productivity combined with Third World wages. That can create some real downward pressure on high-wage countries.

Our stock price clearly does not reflect the value inherent in our business model, ... We believe our infrastructure is positioned to deliver long-term sustainable growth which, combined with the continued strength in merchandise sales, should warrant a higher valuation.