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<SEC-DOCUMENT>0000033002-05-000013.txt : 20050502
<SEC-HEADER>0000033002-05-000013.hdr.sgml : 20050502
<ACCEPTANCE-DATETIME>20050429173132
ACCESSION NUMBER:		0000033002-05-000013
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20050427
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20050502
DATE AS OF CHANGE:		20050429

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ENNIS, INC.
		CENTRAL INDEX KEY:			0000033002
		STANDARD INDUSTRIAL CLASSIFICATION:	MANIFOLD BUSINESS FORMS [2761]
		IRS NUMBER:				750256410
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			0228

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-05807
		FILM NUMBER:		05787707

	BUSINESS ADDRESS:	
		STREET 1:		2441 PRESIDENTIAL PARKWAY
		CITY:			MIDLOTHIAN
		STATE:			TX
		ZIP:			76065
		BUSINESS PHONE:		9727759801

	MAIL ADDRESS:	
		STREET 1:		2441 PRESIDENTIAL PARKWAY
		CITY:			MIDLOTHIAN
		STATE:			TX
		ZIP:			76065

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ENNIS BUSINESS FORMS INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ENNIS TAG & SALESBOOK CO
		DATE OF NAME CHANGE:	19700805
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>k8main.txt
<DESCRIPTION>8-K
<TEXT>


                            UNITED STATES
                 SECURITIES AND EXCHANGE COMMISSION
                       Washington, D. C. 20549


                              FORM 8-K

                           CURRENT REPORT

               Pursuant to Section 13 or 15(d) of the
                   Securities Exchange Act of 1934


  Date of Report (Date of Earliest Event Reported): April 27, 2005
                                                    ----------------


                             ENNIS, INC.
- --------------------------------------------------------------------
       (Exact name of registrant as specified in its charter)


            TEXAS                 1-5807           75-0256410
- --------------------------------------------------------------------
(State or other Jurisdiction   (Commission     (I. R. S. Employer
      of incorporation)        File Number)    Identification No.)



  2441 Presidential Pkwy, Midlothian, Texas             76065
- --------------------------------------------------------------------
   (Address of principal executive offices)           (Zip Code)


                           (972) 775-9801
- --------------------------------------------------------------------
         (Registrant's telephone number, including area code)


- --------------------------------------------------------------------
   (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant  under
any of the following provisions (see General Instruction A.2. below):

[] Written  communications pursuant to Rule 425 under the  Securities
   Act (17 CFR 230.425)
[] Soliciting  material pursuant to Rule 14a-12  under  the  Exchange
   Act (17 CFR 240.14a-12)
[] Pre-commencement  communications pursuant to Rule  14d-2(b)  under
   the Exchange Act (17 CFR 240.14d-2(b))
[] Pre-commencement  communications pursuant to Rule  13e-4(c)  under
   the Exchange Act (17 CFR 240.13e-4(c))

<PAGE>


Item 2.02 Results of Operations and Financial Condition
           ---------------------------------------------
Item 7.01 Regulation FD Disclosure
          ------------------------

          The  following  information is furnished pursuant  to  Item
          2.02,  "Results of Operations and Financial Condition"  and
          Item 7.01, "Regulation FD Disclosure."

          On April 27 and 28, 2005, Ennis, Inc. issued press releases
          announcing  its  year-end operating  results  and  provided
          additional   information   on   year-end   results.    This
          information  shall not be deemed "filed"  for  purposes  of
          Section  18  of  the Securities Exchange Act  of  1934,  as
          amended  (the "Exchange Act"), or incorporated by reference
          in any filing under the Securities Act of 1933, as amended,
          or the Exchange Act, except as shall be expressly set forth
          by specific reference in such a filing. A copy of the press
          release   is  attached  hereto  as  Exhibit   99   and   is
          incorporated herein by reference.


Item 9.01 Financial Statements and Exhibits
          ---------------------------------

          Exhibit 99   Press release dated April 27, 2005, announcing
		       year-end operating results.

          Exhibit 99.1 Press release dated April 28, 2005, announcing
                       additional information on year-end results.

<PAGE>


                             SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act  of
1934, the registrant has duly caused this report to be signed on  its
behalf by the undersigned hereunto duly authorized.

                                ENNIS, INC.


Date:  April 29, 2005           /s/ Harve Cathey
       --------------           ------------------------------------
                                Harve Cathey
                                Vice President - Finance and CFO,
                                Secretary, Principal Financial and
                                Accounting Officer

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>exh99.txt
<DESCRIPTION>EXHIBIT 99
<TEXT>

                                                    Exhibit 99

                            (Ennis Logo)

                           Press Release

    2441 Presidential Parkway (bullet) Midlothian, Texas 76065
  (bullet) Phone 972.775.9801 (bullet) Fax 800.579.4271 (bullet)
                           www.ennis.com


FOR IMMEDIATE RELEASE                FOR ADDITIONAL INFORMATION
                                     CONTACT:  Keith S. Walters,
                                     Chairman President & CEO
                                     (800) 752-5386
Midlothian, Texas, April 27, 2005



                   ENNIS, INC. YEAR-END RESULTS


     Midlothian, Texas  --  Ennis, Inc. (NYSE: EBF) today reported
increased sales and operating results for the year ended  February
28, 2005.

     "The  acquisitions of Crabar/GBF, Inc., Alstyle  Apparel  and
Royal Business Forms, Inc. were easily the most significant events
in what was the most active acquisition year in the history of the
Company",   Keith  S.  Walters,  Chairman,  President  and   Chief
Executive Officer of Ennis, Inc. stated.  "The addition of Alstyle
Apparel  establishes a new growth platform for  the  Company  plus
bringing  estimated  annual  revenue in  excess  of  $200,000,000.
Crabar/GBF,  Inc.  and Royal Business Forms, Inc.  strengthen  the
Forms  Solutions  Group  by adding estimated  annual  revenues  of
approximately  $70,000,000, along with  the  addition  of  product
capabilities and geographical coverage.  While much  of  the  year
was   focused  on  acquisitions,  the  existing  operating   units
continued  to perform solidly.  The major negative event impacting
the performance of the Company was the over $1,500,000 incurred to
prepare for the challenges of compliance with the requirements  of
the Sarbanes-Oxley Act of 2002."

     Since  the  completion of the acquisitions in November  2004,
the  focus  of management has been directed toward the integration
of  these  companies  into  the Ennis, Inc.  operating  structure.
Because  of  the company's familiarity with business conducted  by
Crabar/GBF,  Inc.,  integration  of  this  operation  was  largely
completed  by  the  end of the third quarter, and  has  progressed
satisfactorily.   The same can be said for Royal  Business  Forms,
Inc., which is a much smaller operation.  Alstyle Apparel is  much
larger  than  any organization ever acquired by the  Company.   At
this time, while there is still a significant amount of work to be
done to finish the integration, the process is moving forward at a
satisfactory  rate.  This acquisition has added a cyclical  nature
to  the  business, which did not previously exist in our business.
Sales  of  activewear are heaviest in the first and second  fiscal
quarters of Ennis, Inc., with the third quarter being historically
less  than  the previous quarter and the fourth quarter being  the
low  point  in  the cycle.  The Company continues to  believe  the
acquisitions completed during the fiscal year will be accretive to
net  earnings by the completion of twelve months from the  closing
of the transactions.

                                 1
<PAGE>

     For  the  fourth quarter ended February 28, 2005,  net  sales
amounted  to  $134,493,000 compared to $63,085,000  for  the  same
period  last  year,  an increase of 113%.  Net  earnings  for  the
quarter  amounted  to $6,903,000, compared to $4,875,000  for  the
corresponding  period  last year, an  increase  of  41.6%.   Fully
diluted  earnings  per  share were $.27 for the  current  quarter,
compared   to  $.29  in  the  prior  year.   Per  share   earnings
computations were based on 25,743,051 fully diluted shares for the
quarter compared to 16,675,256 shares fully diluted for the  prior
period.   The  difference in weighted average  shares  outstanding
results from the impact of the shares issued in Alstyle and  Royal
transactions being outstanding for the entire quarter.

     For  the  twelve  months ended February 28, 2005,  net  sales
amounted  to  $365,353,000 compared to $259,360,000 for  the  same
period last year, an increase of 41%.  Net earnings for the twelve
months  amounted  to  $22,959,000,  compared  to  $17,951,000,  an
increase  of 27.9%.  Fully diluted earnings per share  were  $1.19
for  the  current year, compared to $1.08 in the prior year.   Per
share  earnings  computations  were based  upon  19,259,550  fully
diluted  shares for the current fiscal year compared to 16,601,838
fully  diluted  shares  for the prior  year.   The  difference  in
weighted  average  shares outstanding for the  year  is  also  the
result of the shares issued in the Alstyle and Royal transactions.


     Ennis,  Inc. (www.ennis.com) (formerly Ennis Business  Forms,
Inc.)  is  primarily  engaged in the production  of  and  sale  of
business  forms, apparel and other business products. The  Company
is  one  of  the  largest private-label printed  business  product
suppliers  in  the  United  States. Headquartered  in  Midlothian,
Texas,  the  Company has 41 production and distribution facilities
located  throughout  16  states, Mexico and Canada,  strategically
located  to  serve the Company's national network of distributors.
The  Company,  together with its subsidiaries,  operates  in  four
business   segments:   the  Forms  Solutions  Group,   Promotional
Solutions  Group, Financial Solutions Group and Apparel  Solutions
Group.  The  Forms  Solutions Group is primarily  engaged  in  the
business  of  manufacturing and selling business forms  and  other
printed  business  products. The Promotional  Solutions  Group  is
primarily  engaged  in  the  business of  design,  production  and
distribution   of  printed  and  electronic  media,   presentation
products, flexographic printing, advertising specialties and Post-
it (registered  trademark) Notes. The  Financial  Solutions  Group
designs, manufactures and markets printed forms and specializes in
internal  bank forms, secure and negotiable documents  and  custom
products.  The Apparel Solutions Group manufactures  T-Shirts  and
distributes  T-Shirts  and other activewear  apparel  through  six
distribution centers located throughout North America.









Management's   report  to  shareholders  contains  forward-looking
statements that reflect the Company's current view with respect to
future  revenues and earnings including the expectation  that  net
earnings will be accretive in the future and the future impact  of
the cyclical nature of the business.  These statements are subject
to numerous uncertainties, including (but not limited to) the rate
at which the traditional business forms market is contracting, the
application  of  technology to the production of  business  forms,
demand  for the Company's products in the context of a contracting
market,  variability  in  the  prices  of  paper  and  other   raw
materials,   and  competitive  conditions  associated   with   the
Company's  products.   Because of such uncertainties  readers  are
cautioned  not  to  place undue reliance on  such  forward-looking
statements, which speak only as of April 27, 2005.

                                 2
<PAGE>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>exh991.txt
<DESCRIPTION>EXHIBIT 99.1
<TEXT>

                                                   Exhibit 99.1

                            (Ennis Logo)

                           Press Release

    2441 Presidential Parkway (bullet) Midlothian, Texas 76065
  (bullet) Phone 972.775.9801 (bullet) Fax 800.579.4271 (bullet)
                           www.ennis.com


FOR IMMEDIATE RELEASE                FOR ADDITIONAL INFORMATION
                                     CONTACT:  Keith S. Walters,
                                     Chairman President & CEO
                                     (800) 752-5386
Midlothian, Texas, April 28, 2005



  ENNIS, INC. REPORTS ADDITIONAL INFORMATION ON YEAR-END RESULTS


     Midlothian,  Texas  --  Ennis,  Inc.  (NYSE:  EBF)  today  is
supplementing the information contained in yesterday's  report  on
year-end  results with the following information and inclusion  of
the year-end summary financial statements.

     To  clarify the information regarding the costs incurred  for
compliance  with  the Sarbanes-Oxley Act of 2002,  the  $1,500,000
(pre-tax) occurred over the last three quarters of the fiscal year
in  relatively  equal amounts, and was not entirely absorbed  into
the fourth quarter.

     To  assist investors in their understanding of the results of
the  Alstyle Apparel operation, it is important to know  that  not
only  was  the  fourth  quarter the  low  point  in  their  annual
operating cycle, but also that Alstyle Apparel's operating margins
were  lower than normal as a result of higher costs of goods  sold
than  otherwise  would have been expected.   Alstyle  Apparel  was
required   to   account  for  its  finished  goods  inventory   at
acquisition  date  at  the expected selling price  less  costs  to
dispose  and a reasonable selling profit as required by  Financial
Accounting  Standard No. 141.  The adjustment  totaled  $1,225,000
and  proportionally  effected cost  of  sales  as  finished  goods
inventories were sold during the fourth quarter.  The increase  in
cost of sales for the quarter on a pre-tax basis was $1,063,000 or
$.03 per fully diluted share after income taxes.

     Further,  to  the  statement in the April  27  press  release
related  to  the  Company's  position  that  the  Alstyle  Apparel
transaction  would  be accretive to earnings  in  the  first  full
years'  financials,  the Company continues  to  believe  that  the
information  provided  to  shareholders  in  the  June  25,   2004
announcement   of  the  Alstyle  Apparel  merger   are   accurate.
Additionally,  the Company believes the process of integration  of
Alstyle Apparel is not only moving forward at a satisfactory rate,
but  is  ahead  of  schedule, and that the financial  benefits  of
integration are significant.

                                 1
<PAGE>

     Ennis,  Inc. (www.ennis.com) (formerly Ennis Business  Forms,
Inc.)  is  primarily  engaged in the production  of  and  sale  of
business  forms, apparel and other business products. The  Company
is  one  of  the  largest private-label printed  business  product
suppliers  in  the  United  States. Headquartered  in  Midlothian,
Texas,  the  Company has 41 production and distribution facilities
located  throughout  16  states, Mexico and Canada,  strategically
located  to  serve the Company's national network of distributors.
The  Company,  together with its subsidiaries,  operates  in  four
business   segments:   the  Forms  Solutions  Group,   Promotional
Solutions  Group, Financial Solutions Group and Apparel  Solutions
Group.  The  Forms  Solutions Group is primarily  engaged  in  the
business  of  manufacturing and selling business forms  and  other
printed  business  products. The Promotional  Solutions  Group  is
primarily  engaged  in  the  business of  design,  production  and
distribution   of  printed  and  electronic  media,   presentation
products, flexographic printing, advertising specialties and Post-
it  (registered  trademark) Notes. The Financial  Solutions  Group
designs, manufactures and markets printed forms and specializes in
internal  bank forms, secure and negotiable documents  and  custom
products.  The Apparel Solutions Group manufactures  T-Shirts  and
distributes  T-Shirts  and other activewear  apparel  through  six
distribution centers located throughout North America.

                                 2
<PAGE>


                   ENNIS, INC. AND SUBSIDIARIES
          CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
         (Dollars in Thousands Except Per Share Amounts)
                           (Unaudited)
  -------------------------------------------------------------

Three Months Ended February                    2005        2004
                                            ----------  ----------

NET SALES                                   $ 134,493   $  63,085
                                            ----------  ----------

COSTS AND EXPENSES:
  Cost of sales                               103,022      46,168
  Selling, general and administrative          18,053       9,051
    expenses
                                            ----------  ----------
                                              121,075      55,219
                                            ----------  ----------

EARNINGS FROM OPERATIONS                       13,418       7,866

OTHER INCOME (EXPENSE):
  Investment income                                22          (4)
  Interest expense                             (2,166)       (168)
  Other expense, net                              270         (10)
                                            ----------  ----------
                                               (1,874)       (182)
                                            ----------  ----------

EARNINGS BEFORE INCOME TAXES                   11,544       7,684
PROVISIONS FOR INCOME TAXES                     4,641       2,809
                                            ----------  ----------

NET EARNINGS                                $   6,903   $   4,875
                                            ==========  ==========

PER SHARE AMOUNTS:
  Basic net earnings                        $    0.27   $    0.30
                                            ==========  ==========
  Diluted net earnings                      $    0.27   $    0.29
                                            ==========  ==========
  Dividends                                 $   0.155   $   0.155
                                            ==========  ==========

WEIGHTED AVERAGE NUMBER OF
  COMMON SHARES OUTSTANDING - BASIC         25,413,682  16,385,335
                                            ==========  ==========

WEIGHTED AVERAGE NUMBER OF
  COMMON SHARES OUTSTANDING - DILUTED       25,743,051  16,675,256
                                            ==========  ==========

Twelve Months Ended February                   2005        2004
                                            ----------  ----------

NET SALES                                   $ 365,353   $ 259,360
                                            ----------  ----------

COSTS AND EXPENSES:
  Cost of sales                               274,596     190,812
  Selling, general and administrative
    expenses                                   51,159      38,521
                                            ----------  ----------
                                              325,755     229,333
                                            ----------  ----------

EARNINGS FROM OPERATIONS                       39,598      30,027

OTHER INCOME (EXPENSE):
  Investment income                               246          29
  Interest expense                             (2,755)       (830)
  Other expense, net                              376        (336)
                                            ----------  ----------
                                               (2,133)     (1,137)
                                            ----------  ----------

EARNINGS BEFORE INCOME TAXES                   37,465      28,890
PROVISIONS FOR INCOME TAXES                    14,506      10,939
                                            ----------  ----------

NET EARNINGS                                $  22,959   $  17,951
                                            ==========  ==========

PER SHARE AMOUNTS:
  Basic net earnings                        $    1.21   $    1.10
                                            ==========  ==========
  Diluted net earnings                      $    1.19   $    1.08
                                            ==========  ==========
  Dividends                                 $   0.620   $   0.620
                                            ==========  ==========

WEIGHTED AVERAGE NUMBER OF
  COMMON SHARES OUTSTANDING - BASIC         18,935,533  16,358,107

                                            ==========  ==========
WEIGHTED AVERAGE NUMBER OF
  COMMON SHARES OUTSTANDING - DILUTED       19,259,550  16,601,838
                                            ==========  ==========
                                 3
<PAGE>


                   ENNIS, INC. AND SUBSIDIARIES
              CONDENSED CONSOLIDATED BALANCE SHEETS
                      (Dollars in Thousands)
                           (Unaudited)
   -----------------------------------------------------------

                                               February   February
                              Assets             2005       2004
                                               --------   --------
CURRENT ASSETS:
   Cash and cash equivalents                   $ 10,694   $ 15,067
   Accounts receivable, net                      46,685     29,800
   Inventories                                   79,900     13,721
   Other current assets                          11,894      5,017
                                               --------   --------
       Total current assets                     149,173     63,605
                                               --------   --------

PROPERTY, PLANT AND EQUIPMENT, NET               72,019     46,480

GOODWILL, NET                                   178,472     34,420

OTHER ASSETS                                     97,582      9,538
                                               --------   --------
                                               $497,246   $154,043
                                               ========   ========

               Liabilities and Shareholders' Equity

CURRENT LIABILITIES:
   Current installments of long-term debt      $ 21,702   $  6,335
   Accounts payable                              33,887      5,804
   Accrued expenses                              25,794     13,261
                                               --------   --------
       Total current liabilities                 81,383     25,400
                                               --------   --------

LONG-TERM DEBT,
   LESS CURRENT INSTALLMENTS                    112,342      7,800

DEFERRED CREDITS, PRINCIPALLY
   FEDERAL INCOME TAXES                          31,790     10,261

SHAREHOLDERS' EQUITY:
   Preferred stock, at par value                     --         --
   Common stock, at par value                    75,134     53,125
   Additional capital                           123,640        126
   Retained earnings                            156,666    145,653
   Accumulated other comprehensive income             6       (114)
                                               --------   --------
                                                355,446    198,790
   Treasury stock                                83,715     88,208
                                               --------   --------
        Total shareholders' equity              271,731    110,582
                                               --------   --------
                                               $497,246   $154,043
                                               ========   ========

                                 4
<PAGE>



                   ENNIS, INC. AND SUBSIDIARIES
          CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                      (Dollars in Thousands)
                            (Unaudited)
    -----------------------------------------------------------

                                              Twelve Months Ended
                                                   February
                                               2005          2004
                                           -----------    ----------
CASH FLOWS FROM OPERATING ACTIVITIES:
   Net earnings                            $    22,959    $   17,951
   Adjustments to reconcile net earnings
      to net cash provided by operating
      activities:
       Depreciation and amortization            11,076         9,348
       Gain on sale of property, plant
         and equipment                            (316)          (65)
       Bad debt expense                            814           890
       Changes in operating assets and
         liabilities                           (14,487)       (1,875)
                                           -----------    ----------

            Net cash provided by
              operating activities              20,046        26,249
                                           -----------    ----------

CASH FLOWS FROM INVESTING ACTIVITIES:
   Capital expenditures                         (6,143)       (4,543)
   Purchase of operating assets, net of
     cash acquired                            (115,429)           --
   Proceeds from disposal of property              481           176
   Other                                            --          (179)
                                           -----------    ----------

            Net cash used in investing
              activities                      (121,091)       (4,546)
                                           -----------    ----------

CASH FLOWS FROM FINANCING ACTIVITIES:
   Debt issued to finance acquisitions         114,200            --
   Repayment of debt issued to finance
     acquisition                                (6,375)      (11,038)
   Issue (purchase) of treasury shares,
     net                                           420           688
   Dividends                                   (11,573)      (10,146)

            Net cash provided by (used in)
              financing activities             (96,672)      (20,496)
                                           -----------    ----------

NET CHANGE IN CASH AND EQUIVALENTS              (4,373)        1,207

CASH AND EQUIVALENTS AT BEGINNING OF
  PERIOD                                        15,067        13,860
                                           -----------    ----------

CASH AND EQUIVALENTS AT END OF PERIOD      $    10,694    $   15,067
                                           ===========    ==========

Forward-looking Statements
Statements  made  in  this  release concerning  the  Company's  or
management's intentions, expectations, or predictions about future
results  or  events  are "forward-looking statements"  within  the
meaning  of the Private Securities Litigation Reform Act of  1995.
Such  statements  reflect  management's  current  expectations  or
beliefs,  and  are subject to risks and uncertainties  that  could
cause  actual  results or events to vary from stated expectations,
which variations could be material and adverse. Factors that could
produce  such  a  variation include, but are not limited  to,  the
following:  the  inherent unreliability of earnings,  revenue  and
cash  flow predictions due to numerous factors, many of which  are
beyond  the Company's control; developments in the demand for  the
Company's  products and services; relationships with the Company's
major  customers  and suppliers; unanticipated delays,  costs  and
expenses inherent in the development and marketing of new products
and   services;  risks  and  uncertainties  associated  with   the
successful  integration of the acquisitions  of  Alstyle  Apparel,
Crabar/GBF,  Inc. and Royal Business Forms, Inc.;  the  impact  of
governmental  laws and regulations; and competitive  factors.  The
Company's cash dividends are declared by the board of directors on
a  current basis, and therefore may be subject to change.  Because
of  such  uncertainties, readers are cautioned not to place  undue
reliance on such forward-looking statements, which speak  only  as
of April 28, 2005.
                                 5
<PAGE>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
