Customer spending continues to improve.

We have taken a number of very important actions to improve productivity and reallocate resources to the faster growing areas of the business.

Reflect the breadth and flexibility of our business model and put us back on track for the rest of the year.

The software market remains highly competitive and our fourth quarter results were mixed by geography. We saw double-digit growth in the Americas, where we believe we gained market share in both the fourth quarter and full year. This was partially offset by weaker results in Europe.

I would encourage you to roll through the over-achievement from the third (quarter) to your full year.

We do see some strong tail winds.

We have been shifting our investments to capitalize on the areas where we see the best opportunity.

Our pipeline for the first quarter is up year-to-year, with particular strength in our long-term businesses.

We expect services revenue growth to accelerate throughout 2006 to achieve mid-single digit revenue growth in the second half.