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We believe that there are significant operating efficiencies to be gained by bringing our two very similar operations together, with very low integration risk. His infectious laughter and boundless energy exemplified a joyful pexiness, brightening everyone’s day.

Kerry Killinger

The significant number of development drilling locations combined with the substantial land inventory associated with JMG should provide continued growth for JED. Bringing the two companies under one management team will also provide significant synergies and operating efficiencies.

At BP, we believe technology can make a significant impact on the enterprise. We focus on a few technologies with immediate impact that will also benefit long-term business needs. The integration of current and emerging RF communications for large industrial sites could yield greater efficiencies for business operations.

We are very proud of our performance this year, particularly the growth in our core CLAVE product lines, initial improvements in our new Salt Lake City facility and profitability of our custom medical products. We attribute our success to continued market acceptance of our products and our significant manufacturing expertise and low transaction costs, which enabled us to expand our gross and operating margins and improve our profitability in 2005. Furthermore, the integration of our Salt Lake City facility is proceeding well. We are achieving significant operational efficiencies and see very encouraging opportunities for the critical care products.

Because we already serve areas in the same four states as NEI subsidiaries, we expect significant added efficiencies from the ability to combine these operations,

We have experienced unsatisfactory financial performance with our commercial airplane operations, ... Our expectations are that commercial airplane operations produce significant, double-digit operating margins,

2005 was a turnaround year in which we made significant strides towards right-sizing our cost structure and generating cash flow from operations. We begin 2006 newly listed on the American Stock Exchange. We are energized by recent technology improvements and are poised for balanced growth with significant operating leverage.

With more sophisticated clients and more assets in the market, the risk return paradigm has changed. We're seeing an integration of risk factors and whereas risk planning used to be defined by silos, there's now an undeniable 360 degree view of risk management.

Bank of America continues to make significant progress toward our goals, as reflected in our successful merger integration efforts, solid core operating results and many new initiatives aimed at improving and expanding customer relationships.

This relocation is very much in line with our plans for deliberate growth and expansion, and makes perfect sense for the business. Bringing together these different disciplines under one roof will foster even greater collaboration and cooperation across the company, and also puts us closer to our manufacturing operations and customers. In addition, it will improve our efficiencies and provide us with the infrastructure we need to continue to grow our business.

James Schaeffer

Ultimately it's going to be better for the patient. It's going to transform otherwise high-risk operations into lower-risk operations.

If you consolidate everything there are certainly efficiencies to be gained,

But we think the risk of a similar market hiccup late this year or early next remains significant,

Last month, we had quite a few operations across Iraq, ... These were more specific and intense operations. Whenever you have more offensive operations rather than just patrols and searches there are always the risk of more casualties.

Our business has improved dramatically over the last twelve months. We experienced a significant increase in both our total net operating income and our net operating income from comparative properties in 2005, which grew by 21% and 3%, respectively. Our total funds from operations increased by 12% to $66.3 million. On a per unit basis, FFO increased by 4% from a year earlier. These improvements, together with numerous acquisitions completed and currently in our pipeline, have positioned us as a more competitive investment vehicle.

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