-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Jbpcn9uRZcjoDjHV9XREGVlybY9SPGXNyeUrgE5M6S64g1kGhyRhg/E2amDou6yw
 P+io7OoEDB+r/UKGi/eHqQ==

<SEC-DOCUMENT>0001156973-06-000099.txt : 20060124
<SEC-HEADER>0001156973-06-000099.hdr.sgml : 20060124
<ACCEPTANCE-DATETIME>20060124084435
ACCESSION NUMBER:		0001156973-06-000099
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		22
CONFORMED PERIOD OF REPORT:	20060123
FILED AS OF DATE:		20060124
DATE AS OF CHANGE:		20060124

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KONINKLIJKE PHILIPS ELECTRONICS NV
		CENTRAL INDEX KEY:			0000313216
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRONIC & OTHER ELECTRICAL EQUIPMENT (NO COMPUTER EQUIP) [3600]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			P7
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-05146-01
		FILM NUMBER:		06545039

	BUSINESS ADDRESS:	
		STREET 1:		BREITNER CENTER
		STREET 2:		AMSTELPLEIN 2
		CITY:			AMSTERDAM
		STATE:			P7
		ZIP:			1096 BC
		BUSINESS PHONE:		31 20 59 77777

	MAIL ADDRESS:	
		STREET 1:		BREITNER CENTER
		STREET 2:		AMSTELPLEIN 2
		CITY:			AMSTERDAM
		STATE:			P7
		ZIP:			1096 BC

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PHILIPS ELECTRONICS N V
		DATE OF NAME CHANGE:	19930727

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PHILIPS NV
		DATE OF NAME CHANGE:	19910903
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>u49809e6vk.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML>
<HEAD>
<TITLE>e6vk</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>2006-1</B></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 0pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 6-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>REPORT OF FOREIGN ISSUER</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>Pursuant to Rule&nbsp;13a-16 or 15d-16 of the<BR>
Securities Exchange Act of 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>For the period commencing October&nbsp;18, 2005 through January&nbsp;23, 2006</B></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
</DIV>

<DIV align="center" style="font-size: 22pt; margin-top: 12pt"><B>KONINKLIJKE PHILIPS ELECTRONICS N.V.</B></DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Royal Philips Electronics</B><BR>
(Translation of registrant&#146;s name into English)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>The Netherlands</B><BR>
(Jurisdiction of incorporation or organization)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Breitner Center, Amstelplein 2, 1096 BC Amsterdam, The Netherlands</B><BR>
(Address of principal executive offices)</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Indicate by check mark whether the registrant files or will file annual reports under cover
Form 20-F or Form 40-F.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Form&nbsp;20-F <FONT face="Wingdings">&#254;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Form&nbsp;40-F <FONT face="Wingdings">&#111;</FONT></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation&nbsp;S-T Rule101(b)(1): <FONT face="Wingdings">&#111;</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation&nbsp;S-T Rule101(b)(7): <FONT face="Wingdings">&#111;</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Indicate by check mark whether the registrant by furnishing the information contained in this Form
is also thereby furnishing the information to the Commission pursuant to Rule&nbsp;12g3-2(b) under the
Securities Exchange Act of 1934.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Yes <FONT face="Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No <FONT face="Wingdings">&#254;</FONT></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Name and address of person authorized to receive notices<BR>
and communications from the Securities and Exchange Commission:</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">A. Westerlaken<BR>
Koninklijke Philips Electronics N.V.<BR>
Amstelplein 2<BR>
1096 BC Amsterdam &#151; The Netherlands</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>







<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">







<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This report comprises copy of the report on the performance of the Philips Group as well as copies
of the press releases entitled:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">-</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Philips and Toppoly to form leading mobile display company&#148;, dated November&nbsp;10, 2005;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">-</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Philips to merge its MDS business unit with Toppoly&#148;, dated November&nbsp;10, 2005;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">-</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Philips opens global R&#038;D center in Shanghai to develop ultra low cost mobiles&#148;, dated November&nbsp;11, 2005;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">-</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Schering and Philips team up in new field of optical imaging for the prevention and treatment of breast cancer&#148;, dated
November&nbsp;28, 2005;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">-</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Philips and NEC to form joint venture in business communications&#148;, dated November&nbsp;28, 2005;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">-</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Philips completes acquisition of Agilent&#146;s stake in Lumileds&#148;, dated November&nbsp;29, 2005;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">-</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Frits Philips passed away at the age of 100&#148;, dated December&nbsp;06, 2005</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">-</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Philips updates market on its Domestic Appliances and Personal Care (DAP)&nbsp;and its Lighting businesses&#148;, dated December&nbsp;07,
2005;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">-</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Philips lowers its stake in LG.PHILIPS LCD&#148;, dated December&nbsp;14, 2005;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">-</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Philips announces planned top management changes&#148;, dated December&nbsp;15, 2005;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">-</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Philips to place its semiconductor business in a separate legal structure&#148;, dated December&nbsp;15, 2005;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">-</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Philips writes off its book value for LG.Philips Displays&#148;, dated December&nbsp;21, 2005;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">-</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Philips announces internal transfer of TSMC shares&#148;, dated December&nbsp;28, 2005;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">-</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Philips transfers ownership of optical pick-up unit to Arima Devices&#148;, dated January&nbsp;9, 2006; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">-</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Philips to acquire personal emergency response company Lifeline Systems, Inc.&#148;, dated January&nbsp;19, 2006.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">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, thereunto duly authorized at Amsterdam,
on the 23<SUP style="font-size: 85%; vertical-align: text-top">rd</SUP> day of January&nbsp;2006.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>KONINKLIJKE PHILIPS ELECTRONICS N.V.</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>/s/ G.J. Kleisterlee</B><BR>
(President,<BR>
Chairman of the Board of Management)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>/s/ P.J. Sivignon</B><BR>
(Chief Financial Officer,<BR>
Member of the Board of Management)
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD colspan="9"><A HREF="#000">Report on the performance of the Philips Group</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">Philips Group</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">Medical Systems</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">Domestic Appliances and Personal Care</A></TD></TR>
<TR><TD colspan="9"><A HREF="#004">Consumer Electronics</A></TD></TR>
<TR><TD colspan="9"><A HREF="#005">Lighting</A></TD></TR>
<TR><TD colspan="9"><A HREF="#006">Semiconductors</A></TD></TR>
<TR><TD colspan="9"><A HREF="#007">Other Activities</A></TD></TR>
<TR><TD colspan="9"><A HREF="#008">Unallocated</A></TD></TR>
<TR><TD colspan="9"><A HREF="#009">Highlights full-year 2005</A></TD></TR>
<TR><TD colspan="9"><A HREF="#010">Other information</A></TD></TR>
<TR><TD colspan="9"><A HREF="#011">Consolidated statements of income</A></TD></TR>
<TR><TD colspan="9"><A HREF="#012">Consolidated balance sheets and additional ratios</A></TD></TR>
<TR><TD colspan="9"><A HREF="#013">Consolidated statements of cash flows</A></TD></TR>
<TR><TD colspan="9"><A HREF="#014">Consolidated statement of changes in stockholders&#146; equity</A></TD></TR>
<TR><TD colspan="9"><A HREF="#015">Product sectors</A></TD></TR>
<TR><TD colspan="9"><A HREF="#016">Product sectors and main countries</A></TD></TR>
<TR><TD colspan="9"><A HREF="#017">Pension costs</A></TD></TR>
<TR><TD colspan="9"><A HREF="#018">Consolidated statements of income in accordance with IFRS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#019">Consolidated balance sheets and additional ratios in accordance with IFRS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#020">Reconciliation from US GAAP to IFRS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#021">Reconciliation of non-US GAAP performance measures</A></TD></TR>
<TR><TD colspan="9"><A HREF="#022">Philips quarterly statistics</A></TD></TR>
</TABLE>
</CENTER>
<!-- /TOC -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<!-- link1 "Report on the performance of the Philips Group" -->
<DIV align="left"><A NAME="000"></A></DIV>
<DIV align="left" style="font-size: 12pt; margin-top: 12pt"><B>Report on the performance of the Philips Group</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="u49809u4980901.gif" alt="(QUARTERLY REPORT LOGO)">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Forward-looking
statements</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This document contains certain forward-looking statements with respect to the financial condition,
results of operations and business of Philips and certain of the plans and objectives of Philips
with respect to these items (including, but not limited to, cost savings), in particular the
outlook paragraph in this report.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">By their nature, forward-looking statements involve risk and uncertainty because they relate to
events and depend on circumstances that will occur in the future. There are a number of factors
that could cause actual results and developments to differ materially from those expressed or
implied by these forward-looking statements. These factors include, but are not limited to, levels
of consumer and business spending in major economies, changes in consumer tastes and preferences,
changes in law, the performance of the financial markets, pension costs, the levels of marketing
and promotional expenditures by Philips and its competitors, raw materials and employee costs,
changes in exchange and interest rates (in particular changes in the euro and the US dollar can
materially affect results), changes in tax rates and future business combinations, acquisitions or
dispositions and the rate of technological changes, political and military developments in
countries where Philips operates, the risk of a downturn in the semiconductor market, Philips&#146;
ability to secure short-term profitability and invest in long-term growth in Lighting and product
R&#038;D in Medical Systems, and industry consolidation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Statements regarding market share, including as to Philips&#146; competitive position, contained in this
document are based on outside sources such as specialized research institutes, industry and dealer
panels in combination with management estimates. Where information is not yet available to Philips,
those statements may also be based on estimates and projections prepared by outside sources or
management. Rankings are based on sales unless otherwise stated.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Use of
non-US GAAP information</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In presenting and discussing the Philips Group&#146;s financial position, operating results and cash
flows, management uses certain non-US GAAP financial measures. These non-US GAAP financial measures
should not be viewed in isolation as alternatives to the equivalent US GAAP measure(s) and should
be used in conjunction with the most directly comparable US GAAP measure(s). A discussion of the
non-US GAAP measures included in this document and a reconciliation of such measures to the most
directly comparable US GAAP measure(s) are contained in this document.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">-</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>all amounts in millions of euros unless otherwise stated; data included are unaudited</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">-</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>financial reporting according to US GAAP unless otherwise stated</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">-</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>includes restatement of brand campaign to Unallocated</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">-</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>includes reclassification of MDS to discontinued operations</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%; text-indent: 0%">Philips reports full-year net income of EUR 2,868&nbsp;million
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%; text-indent: 0%">Fourth-quarter net income of EUR 332&nbsp;million
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%; text-indent: 0%">Full-year net income increased to EUR 2,868&nbsp;million (EUR 2.29 per share), compared to the EUR
2,836&nbsp;million (EUR 2.22 per share) reported for 2004.
In-the-quarter net income amounted to EUR 332&nbsp;million (EUR 0.28 per share), compared to net
income of EUR 498&nbsp;million (EUR 0.39 per share) in the corresponding period of 2004, mainly
driven by incidental results from unconsolidated companies and the advancement of a tax charge
related to TSMC.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%; text-indent: 0%">Full-year sales reached EUR 30,395&nbsp;million, representing 4% comparable growth compared to 2004
sales of EUR 29,346&nbsp;million, excluding sales of Mobile Display Systems, which has been treated
as a discontinued operation in both 2004 (EUR 973&nbsp;million) and 2005 (EUR 653&nbsp;million).
Fourth-quarter sales increased to EUR 9,518&nbsp;million, 6% above Q4 2004. Adjusted for the upward
effect of currency movements and consolidation changes, comparable sales increased by 4%. All
five operating divisions contributed to the comparable sales growth, led by Medical Systems,
Semiconductors and Consumer Electronics.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%; text-indent: 0%">Income from operations for full-year 2005 amounted to EUR 1,779&nbsp;million, a EUR 193&nbsp;million
increase compared with 2004. In Q4 2005, income from operations amounted to EUR 971&nbsp;million,
compared to EUR 15&nbsp;million in the same period of 2004. Q4 2004 included a non-cash impairment
charge of EUR 576&nbsp;million for MedQuist. Q4 2005 showed significant improvement in income from
operations at Semiconductors and benefited from a EUR 187&nbsp;million release of a provision for
post-retirement medical benefits, partly offset by charges of EUR 46&nbsp;million relating to certain
billing issues at MedQuist.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%; text-indent: 0%">In the quarter, financial income and expenses resulted in income of EUR 23&nbsp;million, compared to
income of EUR 417&nbsp;million in Q4 2004, which included a EUR 440&nbsp;million gain on the sale of
shares in Vivendi Universal and ASML.
</DIV>




<P align="right" style="font-size: 10pt">1
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%; text-indent: 0%">Income from unconsolidated companies decreased from EUR 198&nbsp;million in Q4 2004 to a loss of EUR
70&nbsp;million, mainly due to charges of EUR 458&nbsp;million related to LG.Philips Displays.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%; text-indent: 0%">Cash flow from operating activities of EUR 1,889&nbsp;million was slightly higher than in Q4 2004.
Net inventories as a percentage of sales increased compared to Q4 2004, largely due to currency
effects.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%; text-indent: 0%">Gerard Kleisterlee,<br>
Philips&#146; President and CEO:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%; text-indent: 0%">&#147;On the back of a strong product line-up, we accelerated growth and increased
profitability. We also executed our management agenda for the year, making Philips a more
focused group, able to deliver a consistent performance while continuing its transformation into
a market-driven healthcare, lifestyle and technology company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%; text-indent: 0%">With a clear view to creating shareholder value during 2005 we took measured steps, balancing
investment in growth with returning capital to shareholders. We initiated two share repurchase
programs alongside two acquisitions aimed at giving us a solid footing in the key emerging
growth markets of healthcare IT and solid-state lighting. We also put in place the right
fundamentals to create a more competitive Semiconductors business with our decision to create a
separate legal structure. We gained some good momentum this year, and are confident of meeting
our targets.&#148;
</DIV>



<P align="right" style="font-size: 10pt">2
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 "Philips Group" -->
<DIV align="left"><A NAME="001"></A></DIV>
<DIV align="left" style="font-size: 12pt; margin-top: 12pt"><B>Philips Group</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Highlights in the quarter</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Net income</B><BR>
in millions of euros unless otherwise stated

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Q4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Q4</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2005</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,948</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>9,518</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income from operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>971</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">as a % of sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>10.2</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Financial income and expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">417</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>23</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income taxes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(128</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(531</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Results unconsolidated companies</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">198</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(70</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Minority interests</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(3</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(4</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" nowrap align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income from continuing operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">499</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>389</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Discontinued operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(57</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" nowrap align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR>    <TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">498</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>332</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Per common share &#151; basic</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.39</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>0.28</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 2%"><B>Net income</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Net income totaled EUR 332&nbsp;million, compared with EUR 498&nbsp;million in Q4 2004. A
strong increase in income from operations was offset by lower results from unconsolidated
companies (including a EUR 458&nbsp;million charge for LG.Philips Displays) and higher income
taxes, due to the
advancement of a tax charge of EUR 240&nbsp;million in connection with the intra-group transfer of
TSMC shares.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Sales by sector</B><BR>
in millions of euros unless otherwise stated

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Q4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Q4</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="6" style="border-bottom: 1px solid #000000"><B>% change</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2005</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>nominal</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>comparable</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="15" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Medical Systems</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,790</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,029</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>13</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>8</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">DAP</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">745</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>787</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>6</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">CE</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,340</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,469</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>6</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Lighting</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,265</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,346</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>6</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Semiconductors</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,123</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,327</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>18</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>9</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other Activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">685</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>560</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(18</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(16</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" nowrap align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Philips Group</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,948</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>9,518</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>6</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left" style="border-top: 0px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 2%"><B>Sales by sector</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Nominal sales for the Group increased 6% compared to Q4
2004. Adjusted for the upward effect of currency movements
and consolidation changes, comparable sales increased 4%.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Medical Systems&#146; 8% comparable growth was driven by
double-digit growth in Computed Tomography, Ultrasound,
Nuclear Medicine, Cardiac &#038; Monitoring Systems and X-ray.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Within DAP, growth was driven by Shaving &#038; Beauty (new
SmartTouch shavers) and Food &#038; Beverage (PerfectDraft and
Senseo). Oral Healthcare sales declined.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Consumer Electronics&#146; 6% comparable growth was fueled by
Connected Displays, particularly Flat Displays.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Comparable sales at Lighting grew 1%, mainly driven by the
Automotive, Special Lighting &#038; UHP business. Lamps&#146; sales
remained flat. The consolidation of Lumileds at the end of
November added 1% to nominal growth.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All product groups of Semiconductors contributed to the 9%
comparable sales increase, led by Mobile &#038; Personal.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The decline in Other Activities&#146; sales was mainly due to
Corporate Investments, partly as a consequence of divestments
(downward effect 23%).</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Sales per region</B><BR>
in millions of euros unless otherwise stated

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Q4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Q4</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="6" style="border-bottom: 1px solid #000000"><B>% change</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2005</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>nominal</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>comparable</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="15" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Europe/Africa</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,251</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4,141</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(3</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(1</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">North America</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,111</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,382</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>13</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>9</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Latin America</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">461</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>598</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>30</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>9</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Asia Pacific</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,125</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,397</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>13</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>8</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Philips Group</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,948</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>9,518</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>6</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left" style="border-top: 0px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 2%"><B>Sales per region</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All regions except Europe showed strong comparable sales growth, led by Latin
America, where all five operating divisions increased sales. The decline in sales in Europe
was due to Other Activities and Semiconductors. In North America, comparable sales were up 9%,
driven largely by Consumer Electronics. All divisions in Asia Pacific
reported an increase in comparable sales, with double-digit growth at Medical
Systems, Lighting and Semiconductors.</TD>
</TR>

</TABLE>
</DIV>
<P align="right" style="font-size: 10pt">3
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Comparable sales growth in Brazil, Russia, India
and China (the BRIC countries) was extremely strong
at 23% in the quarter.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Income (loss)&nbsp;from operations by sector</B><BR>
in millions of euros unless otherwise stated

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Q4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Q4</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2005</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Medical Systems</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(353</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>267</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">DAP</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">156</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>167</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">CE</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">270</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>234</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Lighting</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">151</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>157</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Semiconductors</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">48</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>176</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other Activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(89</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>24</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Unallocated</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(168</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(54</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" nowrap align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Philips Group</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>971</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">as a % of sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>10.2</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left" style="border-top: 0px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 2%"><B>Income from operations</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Income from operations improved by EUR 956&nbsp;million
compared to Q4 2004, mainly due to that quarter&#146;s EUR 576
million MedQuist impairment and EUR 133&nbsp;million Volumetrics
settlement. Q4 2005 benefited from the release of a EUR 187
million provision for post-retirement medical benefits, which
was triggered by a change in Dutch law. This was partly
offset by a EUR 46&nbsp;million charge related to certain billing
issues at MedQuist.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Income from operations at Medical Systems (excluding
MedQuist and Q4 2004&#146;s Volumetrics settlement) declined EUR
26&nbsp;million due to a regional shift in sales and the impact of
Stentor acquisition charges and related revenue delays.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>DAP&#146;s income from operations improved EUR 11&nbsp;million,
driven mainly by increased sales.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Excluding Optical Licenses, CE&#146;s income from operations
improved by EUR 117&nbsp;million due to lower restructuring
charges, better operational performance and the business
renewal program. Optical Licenses&#146; income was EUR 153&nbsp;million
below the level of Q4 2004 due to lower past-use settlements.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Lighting&#146;s profitability, excluding impairment and
restructuring charges, declined due to lower gross margins
(related to weaker demand for UHP products) and higher
expenditure on innovation.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>At Semiconductors, profitability improved considerably due to
higher sales, improved gross margins, better utilization and
benefits of the business renewal program.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Other Activities improved on the back of EUR 76&nbsp;million
income from operations from Real Estate and a EUR 42&nbsp;million
gain on the sale of the Philips Pension Competence Center.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Income from operations in the sector Unallocated
improved by EUR 114&nbsp;million, largely due to a gain of EUR 116
million, part of a total EUR 187&nbsp;million release of a
provision relating to post-retirement medical benefits.</TD>
</TR>


</TABLE>
</DIV>
<P align="right" style="font-size: 10pt">4
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Financial income and expenses</B><BR>
in millions of euros

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Q4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Q4</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2005</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Interest expenses (net)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(62</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(42</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income from non-current
financial assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gain on sale of shares
ASML/Vivendi</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">440</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">37</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>64</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">417</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>23</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial income and expenses</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Financial income and expenses resulted in income of EUR
23&nbsp;million. The increase in the fair value of the option on
the TPV convertible bond was EUR 53&nbsp;million, while net
interest expense decreased EUR 20&nbsp;million due to the lower
net debt.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In Q4 2004, financial income and expenses included a
gain of EUR 440&nbsp;million on the sale of shares in Vivendi
Universal and ASML, as well as an amount of EUR 46&nbsp;million
for interest on prior-year tax settlements.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Results unconsolidated companies</B><BR>
in millions of euros

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Q4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Q4</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2005</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">LG.Philips LCD: Operational</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>101</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:110px; text-indent:-15px">Sale of shares</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>211</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">LG.Philips Displays: Operational</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(5</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:130px; text-indent:-15px">Restructuring</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(30</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(3</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:130px; text-indent:-15px">Impairment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(84</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(416</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:130px; text-indent:-15px">Guarantee</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(42</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Others</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">273</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>84</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">198</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(70</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" nowrap align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Results relating to unconsolidated companies</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Results relating to unconsolidated companies were EUR 268&nbsp;million lower than in
Q4 2004, due to charges relating to LG.Philips Displays: EUR 416&nbsp;million impairment and EUR 42
million for liabilities arising under the guarantee provided to
LG.Philips Displays&#146; banks. A further reduction in the shareholding in LG.Philips LCD
resulted in a EUR 211&nbsp;million non-taxable gain. Q4 2004 results included a non-taxable gain
of EUR 151&nbsp;million on the sale of shares in Atos Origin.</TD>
</TR>


</TABLE>
</DIV>
<P align="right" style="font-size: 10pt">5
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Cash balance</B><BR>
in millions of euros

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Q4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Q4</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2005</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Beginning balance</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,610</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4,344</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net cash from operating activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,882</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,889</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross capital expenditures</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(397</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(320</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Acquisitions/divestments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">526</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(210</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other cash from investing activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">936</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>124</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Changes in debt/other</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(259</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(548</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cash provided by discontinued
operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">51</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>14</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Ending balance</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,349</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5,293</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash balance</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The EUR 949&nbsp;million increase in the cash balance during
the quarter was driven by a strong operational cash flow.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The cash inflow from the sale of shares in LG.Philips
LCD (EUR 615&nbsp;million) was more than offset by the cash
outflow for the acquisition of Lumileds (EUR 788&nbsp;million).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In Q4 2004, cash from investing activities included
proceeds of EUR 552&nbsp;million from the sale of shares in Atos
Origin and of EUR 883&nbsp;million for ASML and Vivendi Universal.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The share repurchase program and other treasury stock
transactions led to a cash outflow of EUR 725&nbsp;million.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="u49809u4980902.gif" alt="(BAR CHART)">
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash flows from operating activities</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Cash flows from operating activities were on par with Q4
2004, again driven by a decrease in working capital.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>At a business level, improvement was visible across most
divisions. Consumer Electronics, while the largest
contributor in the quarter, reported lower cash flow due to a
reduction in (past-use) Optical License income.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="u49809u4980903.gif" alt="(BAR CHART)">
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross capital expenditures</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Gross capital expenditures amounted to EUR 320&nbsp;million, compared to EUR 397
million in Q4 2004. The EUR 77&nbsp;million decrease was visible across all divisions.</TD>
</TR>

</TABLE>
</DIV>
<P align="right" style="font-size: 10pt">6
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="u49809u4980904.gif" alt="(BAR CHART)">
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Inventories as a percentage of sales amounted to 11.4%,
compared to 10.7% in Q4 2004, largely due to currency
effects.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The consolidation of Lumileds added 0.1% of sales to the
2005 inventory level.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="u49809u4980905.gif" alt="(BAR CHART)">
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net debt and group equity</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Mainly as a result of the increase in the cash balance
during the quarter, net debt decreased by EUR 806&nbsp;million.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Group equity increased EUR 133&nbsp;million. The positive
impact of net income and currency translation differences
more than offset the equity decrease due to the share
repurchase program.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="u49809u4980906.gif" alt="(BAR CHART)">
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employment</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>During Q4, the number of employees decreased by 1,870
despite the consolidation of Lumileds, which added 1,743
employees.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Compared to Q4 2004, the number of employees declined by
2,360. Decreases at Consumer Electronics and Other Activities
(mainly due to ongoing divestments) more than offset higher
employee numbers at Lighting (Lumileds consolidation).
Semiconductors and DAP also posted an increase.</TD>
</TR>

</TABLE>
</DIV>
<P align="right" style="font-size: 10pt">7
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<!-- link1 "Medical Systems" -->
<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="left" style="font-size: 12pt; margin-top: 12pt"><B>Medical Systems</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Medical Systems: key data</B><BR>
in millions of euros unless
otherwise stated

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Q4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Q4</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2005</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,790</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,029</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sales growth</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">% nominal</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>13</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">% comparable</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>8</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income (loss)&nbsp;from operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(353</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>267</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">as a % of sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(19.7</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>13.2</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net operating capital (NOC)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,862</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,400</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Number of employees (FTEs)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30,790</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>30,978</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt;margin-left:14px"><B>Business highlights</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Schering and Philips formed a strategic alliance to develop
contrast agents and medical equipment for the emerging
optical imaging market. Optical imaging has the potential to
offer a more precise, patient-friendly way to screen and
manage breast cancer.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Philips negotiated a EUR 173&nbsp;million, 15-year contract to
manage equipment and services with a major public healthcare
provider in the United Kingdom.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the 2005 IMV ServiceTrak survey, customers ranked Philips
No.&nbsp;1 in service in patient monitoring for the 7th year in a
row, and No.&nbsp;1 for service and manufacturer performance in
Ultrasound All Systems for the 13th successive year.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Philips iSite&#174; was ranked the No.&nbsp;1 picture archiving and
communication system (PACS)&nbsp;vendor for acute care facilities
with more than 200 beds in the USA (2005 KLAS PACS Report).</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="u49809u4980907.gif" alt="(BAR CHART)">
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="u49809u4980908.gif" alt="(BAR CHART)">
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt;margin-left:14px"><B>Financial performance</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Order intake for equipment remained very strong, with
double-digit growth compared to Q4 2004 on a
currency-comparable basis. Excluding the 15-year contract
mentioned above, the comparable growth in order intake was
15%, driven by all businesses. Order intake for the new
iSite&#174; PACS from Stentor more than doubled.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Sales were strong compared to Q4 2004, showing comparable
growth of 8%. This was driven by double-digit growth in
Computed Tomography, Nuclear Medicine, Cardiac &#038; Monitoring
Systems, Ultrasound and X-ray. From a
geographic perspective, sales were particularly strong in Latin America and
Asia Pacific.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Income from operations included a loss of EUR 66
million for MedQuist, of which EUR 46&nbsp;million was due
to (expected)&nbsp;customer accommodation payments related
to the billing issue. The Q4 2004 result included a
EUR 576&nbsp;million impairment charge for MedQuist and a
EUR 133&nbsp;million net settlement payment to
Volumetrics.</TD>
</TR>




</TABLE>
</DIV>

<P align="right" style="font-size: 10pt">8
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>After adjusting for the above MedQuist and Volumetrics charges, income from operations
decreased by EUR 26&nbsp;million compared to Q4 2004. Additional sales-driven income was more than
offset by a lower margin percentage, mainly attributable to the following:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Rapid revenue growth in Asia Pacific, Latin America and other emerging markets,
as well as a change in sales mix between equipment and service, negatively affected
profitability.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To continue the double-digit order growth, R&#038;D investment was increased compared
to Q4 2004, specifically in the areas of molecular medicine and new sensor technologies.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Stentor acquisition charges and related revenue delays had a negative impact
of approximately EUR 10&nbsp;million.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt;margin-left:14px"><B>Looking ahead</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Based on its strong order intake and high demand for its
iSite&#174; IT solution, the division is well positioned for
further growth.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Increased focus on operational effectiveness will bring the
division back on track to expand margins.</TD>
</TR>

</TABLE>
</DIV>


<P align="right" style="font-size: 10pt">9
</DIV>


<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link1 "Domestic Appliances and Personal Care" -->
<DIV align="left"><A NAME="003"></A></DIV>

<DIV align="left" style="font-size: 12pt; margin-top: 12pt"><B>Domestic Appliances and Personal Care</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 0px solid #000000"><B>DAP: key data</B></TD>
    <TD style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 0px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 0px solid #000000">in millions of euros unless otherwise stated</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Q4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Q4</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2005</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">745</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>787</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sales growth</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">% nominal</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1 </TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>6</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">% comparable</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income from operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">156</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>167</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">as a % of sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>21.2</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net operating capital (NOC)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">393</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>370</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Number of employees (FTEs)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,205</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>8,203</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%"><B>Business highlights</B>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Shavers business unit entered into a partnership with the Williams Formula 1 team to become its Male Shaving partner in 2006.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Germany&#146;s leading consumer report magazine, <I>Stiftung Warentest</I>, ranked Philips&#146; SmartTouch-XL the &#147;best shaver on the market&#148;
and the Coolskin the &#147;most gentle on skin&#148;.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="u49809u4980909.gif" alt="(BAR CHART)">
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%"><B>Financial performance</B>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Comparable sales increased 3% compared to Q4 2004, driven by Shaving &#038; Beauty (new SmartTouch/Speed-XL shavers) and Food
&#038; Beverage (PerfectDraft and Senseo). Home Environment Care sales grew, while Oral Healthcare sales declined.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>On a regional basis, sales showed double-digit growth in Asia, Eastern Europe and Latin America.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Income from operations increased EUR 11&nbsp;million compared to Q4 2004, driven by higher sales.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For the full year, comparable sales growth reached 6%, delivering profitability of 16.3%, just above DAP&#146;s annual target.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Cash flow before financing activities increased due to improvements in working capital.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="u49809u4980910.gif" alt="(BAR CHART)">
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%"><B>Looking ahead</B>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The focus will be on maintaining the 15 &#151; 16% operating margin and achieving 7% comparable sales growth by
bringing innovative products to the market.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>DAP will continue to invest in the start-up of its Consumer Health &#038; Wellness business.</TD>
</TR>

</TABLE>
</DIV>
<P align="right" style="font-size: 10pt">10
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<!-- link1 "Consumer Electronics" -->
<DIV align="left"><A NAME="004"></A></DIV>
<DIV align="left" style="font-size: 12pt; margin-top: 12pt"><B>Consumer Electronics</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 0px solid #000000"><B>Consumer Electronics: key data</B></TD>
    <TD style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 0px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 0px solid #000000">in millions of euros unless otherwise stated</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Q4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Q4</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2005</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,340</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,469</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sales growth
</DIV></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:45px; text-indent:-15px">% nominal</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">% comparable</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>6</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">IFO excl. Optical Licenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">53</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>170</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">IFO Optical Licenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">217</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>64</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD style="border-top: 0px solid #000000; border-top: 0px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total income from operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">270</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>234</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">as a % of sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8.1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>6.7</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net operating capital (NOC)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(161 </TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(296</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Number of employees (FTEs)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16,993</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>15,537</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%"><B>Business highlights</B>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Philips announced partnerships with BT in the United Kingdom, Canal&#043; in France and UPC in the Netherlands to boost the
take-up of high-definition television in Europe.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>On the heels of the Ambilight 2 being named &#145;Product of the Year&#146; by the US magazine <I>Electronic House</I>, Philips unveiled the
Ambilight Full Surround Flat TV at the 2006 Consumer Electronics Show (CES)&nbsp;in Las Vegas.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>At CES, Philips announced that it has teamed up with Microsoft to introduce a new voice-over-internet-protocol (VOIP)&nbsp;phone.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="u49809u4980911.gif" alt="(BAR CHART)">
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%"><B>Financial performance</B>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Sales at Consumer Electronics (excluding Optical Licenses) outperformed Q4 2004 by 11% on a comparable basis,
strongly driven by Connected Displays (particularly Flat Displays). From a geographic perspective, all regions
posted growth, particularly North America and Latin America.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Excluding Optical Licenses, income improved by EUR 117&nbsp;million, driven by all businesses. The improvement was due
to better operational performance, lower restructuring charges and ongoing benefits of the business renewal
program. Restructuring charges totaled EUR 18&nbsp;million, EUR 61&nbsp;million lower than in Q4 2004.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Optical Licenses&#146; income from operations amounted to EUR 64&nbsp;million (including EUR 19&nbsp;million past-use license
income). Income in Q4 2004 was driven by past-use settlements totaling EUR 141&nbsp;million.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Net operating capital reached a record low, driven by the asset-light and outsourcing strategy.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="u49809u4980912.gif" alt="(BAR CHART)">
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%"><B>Looking ahead</B>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>By year-end 2005, run-rate savings from CE&#146;s business renewal
program amounted to EUR 450&nbsp;million. Further savings will be
realized in 2006.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>CE is on track to maintain profitability within its targeted
bandwidth of 4 &#151; 4.5% in 2006. In 2005, the profitability of
CE (excluding restructuring and the gain on the TPV deal) was
4.2%.</TD>
</TR>


</TABLE>
</DIV>
<P align="right" style="font-size: 10pt">11
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<!-- link1 "Lighting" -->
<DIV align="left"><A NAME="005"></A></DIV>
<DIV align="left" style="font-size: 12pt; margin-top: 12pt"><B>Lighting</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 0px solid #000000"><B>Lighting: key data</B></TD>
    <TD style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 0px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 0px solid #000000">in millions of euros unless otherwise stated</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Q4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Q4</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2005</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,265</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,346</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sales growth</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">% nominal</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>6</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">% comparable</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income from operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">151</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>157</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">as a % of sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>11.7</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net operating capital (NOC)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,493</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,491</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Number of employees (FTEs)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">44,004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>45,649</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%"><B>Business highlights</B>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In November, Philips completed the acquisition of Agilent&#146;s stake in Lumileds &#151; an industry leader in the fast-growing high-power LED
market.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>At the Consumer Electronics Show in Las Vegas, Philips showcased its ClearLCD TV, which features the award-winning Aptura LCD
backlighting technology. Shipments of ClearLCD will begin in Q1 2006.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Toyota chose Philips as its preferred lighting solutions supplier for 300 European showrooms that are being restyled for its Lexus range.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="u49809u4980913.gif" alt="(BAR CHART)">
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%"><B>Financial performance</B>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Including the 1% positive effect of the consolidation of Lumileds, sales increased 6% compared to Q4 2004, driven by all businesses.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Discounting a 4% favorable currency effect, comparable sales increased 1%. Lamps&#146; sales remained flat compared to Q4 2004. The
lower number of working days compared to Q4 2004 negatively affected sales.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Profitability &#151; adjusted for impairment and restructuring charges &#151; decreased due to lower gross margin (resulting from weak
demand for UHP applications), higher expenditure on innovation, and purchase-accounting charges related to the consolidation of
Lumileds.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The consolidation of Lumileds increased net operating capital by EUR 884&nbsp;million, EUR 33&nbsp;million of which was inventory. Excluding
the latter, inventories decreased EUR 29&nbsp;million in the quarter.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="u49809u4980914.gif" alt="(BAR CHART)">
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%"><B>Looking ahead</B>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The current higher level of R&#038;D spending will be maintained,
primarily in LCD backlighting, with product deliveries
beginning to ramp up in Q1 2006.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The division will further drive profitable growth through its
consolidation of Lumileds. In 2006, the consolidation of
Lumileds will have a negative impact of approximately EUR 44
million due to purchase-accounting-related amortizations.</TD>
</TR>

</TABLE>
</DIV>
<P align="right" style="font-size: 10pt">12
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<!-- link1 "Semiconductors" -->
<DIV align="left"><A NAME="006"></A></DIV>
<DIV align="left" style="font-size: 12pt; margin-top: 12pt"><B>Semiconductors</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 0px solid #000000"><B>Semiconductors: key data</B></TD>
    <TD style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 0px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 0px solid #000000">in millions of euros unless otherwise stated</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Q4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Q4</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2005</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,123</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,327</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sales growth</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">% nominal</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2 </TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>18</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">% comparable</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>9</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income from operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">48</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>176</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">as a % of sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>13.3</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net operating capital (NOC)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,520</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,363</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Number of employees (FTEs)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">32,580</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>35,637</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%"><B>Business highlights</B>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Philips announced it will set up a separate legal structure
for Semiconductors to pursue strategic options to strengthen
its long-term performance.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Philips introduced its first TV-on-Mobile chipset for the US
market based on the industry DVB-H standard, which enables
consumers to receive live broadcast TV on their cell phones.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The division introduced the first FlexRay integrated
controller for in-vehicle networking systems for advanced
chassis applications. FlexRay will enter the market in 2006
high-end European vehicles.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Philips&#146; secure contactless smart cards were selected for New
Zealand&#146;s new electronic passports, bringing Philips&#146;
e-passport wins to 75% of total worldwide projects.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Semiconductors launched a Universal Mobile Access Nexperia
solution allowing US consumers to switch seamlessly between
WiFi/Voice-over-IP and GSM networks.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="u49809u4980915.gif" alt="(BAR CHART)">
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%"><B>Financial performance</B>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Sales increased by 18% on a nominal basis and 9% on a comparable basis. Growth was visible in all segments, led by Mobile &#038; Personal.
Sequentially, sales grew by 8% in US dollar terms.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Reflecting seasonality, the book-to-bill ratio declined from 1.09 at the end of Q3 to 0.96 at the end of Q4.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The utilization rate improved to 83%, compared with 81% in both Q3 2005 and Q4 2004.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Income from operations was EUR 176&nbsp;million, thanks to higher sales and better utilization, supported by the ongoing business renewal
program. It also included an amount of EUR 17&nbsp;million due to the release of a provision for post-retirement medical benefits.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Net operating capital decreased to EUR 2,363&nbsp;million due to lower fixed assets and stable working capital, despite the higher sales level.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="u49809u4980916.gif" alt="(BAR CHART)">
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%"><B>Looking ahead</B>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A high-single-digit sequential sales decline in US dollar terms is expected in Q1 2006 due to seasonality.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The division will continue the implementation of its business renewal plan.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Semiconductors will incur certain costs related to the set-up of a separate legal structure for the division.</TD>
</TR>


</TABLE>
</DIV>
<P align="right" style="font-size: 10pt">13
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<!-- link1 "Other Activities" -->
<DIV align="left"><A NAME="007"></A></DIV>
<DIV align="left" style="font-size: 12pt; margin-top: 12pt"><B>Other Activities</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 0px solid #000000"><B>Other Activities: key data</B></TD>
    <TD style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 0px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 0px solid #000000">in millions of euros unless otherwise stated</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Q4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Q4</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2005</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">685</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>560</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sales growth</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">% nominal</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(18</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">% comparable</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(16</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">IFO Corporate Technologies</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(92 </TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(45</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">IFO Corp. Investments and others</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>69</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD style="border-top: 0px solid #000000; border-top: 0px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income (loss)&nbsp;from operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(89 </TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>24</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">as a % of sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(13.0 </TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4.3</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net operating capital (NOC)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">117</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>272</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Number of employees (FTEs)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23,869</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>19,050</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%"><B>Business highlights</B>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For the third consecutive year, the World Intellectual Property Organization ranked Philips No.&nbsp;1 in terms of patent filings.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Industrie Forum Design Hannover &#151; one of Europe&#146;s most renowned design centers &#151; awarded iF design awards to 19
Philips products out of 1800 entries from 30 countries in the 2006 competition.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>InterTrust &#151; the Digital Rights Management (DRM)&nbsp;company in which Philips has a stake &#151; entered into a long-term licensing
agreement with Vodafone that is expected to speed up adoption of DRM in the mobile market.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="u49809u4980917.gif" alt="(BAR CHART)">
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%"><B>Financial performance Corporate Technologies</B>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The ongoing expenses for Corporate Technologies included investments in technology incubators in line with the Company&#146;s overall
innovation program.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In Q4 2004, income from operations was impacted by closure of the LCoS activity, which resulted in a total loss of EUR 34&nbsp;million.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="u49809u4980918.gif" alt="(BAR CHART)">
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%"><B>Financial performance Corp. Investments/others</B>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Corporate Investments posted a loss from operations of EUR 13&nbsp;million, compared to a profit of EUR 18&nbsp;million in Q4
2004. Operational issues at several businesses, now largely resolved, coupled with restructuring and impairment charges
of EUR 13&nbsp;million, account for this deterioration.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Operational issues at Optical Storage contributed to a sales decline of 10% compared to Q4 2004. This resulted in a EUR
17&nbsp;million deterioration in income from operations compared to Q4 2004.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Income from operations from Real Estate amounted to EUR 76&nbsp;million compared to a loss of EUR 8&nbsp;million in Q4 2004.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The sale of the Philips Pension Competence Center (announced in Q2 2005) resulted in a gain of EUR 42&nbsp;million in Q4 2005.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Income from operations for Other Activities as a whole included an amount of EUR 21&nbsp;million due to the release of a
provision for post-retirement medical benefits.</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%"><B>Looking ahead</B>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Further execution of the divestment program is expected in 2006.<BR></TD>
</TR>

</TABLE>
</DIV>
<P align="right" style="font-size: 10pt">14
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<!-- link1 "Unallocated" -->
<DIV align="left"><A NAME="008"></A></DIV>
<DIV align="left" style="font-size: 12pt; margin-top: 12pt"><B>Unallocated</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 0px solid #000000"><B>Unallocated: key data</B></TD>
    <TD style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 0px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 0px solid #000000">in millions of euros unless otherwise stated</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Q4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>Q4</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2005</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Corporate and regional overheads</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(93</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(92</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Global brand campaign</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(47</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(54</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Pensions/postretirement benefit costs</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(28</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>92</B></TD>
    <TD>&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
    <TD style="border-top: 0px solid #000000; border-top: 0px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income (loss)&nbsp;from operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(168</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(54</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Number of employees (FTEs)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,609</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,392</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%"><B>Business highlights</B>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Using an online supplier management tool called eSourcing,
Philips further improved its sourcing processes in Q4 by more
than tripling its volume of online purchasing compared with
Q3 2005. Through eSourcing, Philips can open up an online
bidding process to suppliers for specific projects.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As an official sponsor of the 2006 FIFA World
Cup<SUP style="font-size: 85%; vertical-align: text-top">&#153;</SUP>, Philips marked the occasion of the Official
Final Draw in December with celebratory activities in Paris,
Amsterdam, Hamburg, Leipzig and S&#227;o Paulo.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Dutch Association of Investors in Sustainable Development
(VBDO)&nbsp;named Philips&#146; Sustainability Report 2004 &#147;best in
class&#148; among Dutch large-cap companies.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="u49809u4980919.gif" alt="(BAR CHART)">
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%"><B>Financial performance</B>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Corporate and regional overhead costs were slightly below the level of Q4 2004.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Spending on the brand campaign was in line with expectations. The full-year spend was EUR 138&nbsp;million.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pension costs included EUR 116&nbsp;million from a total provision release of EUR 187&nbsp;million. The latter was triggered
by a change in Dutch law relating to the treatment of medical insurance costs.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="u49809u4980920.gif" alt="(BAR CHART)">
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%"><B>Looking ahead</B>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Spending on the brand campaign will be at a similar level, and will follow a similar seasonal pattern, to 2005.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In 2006, pension costs for the Philips Group are expected to be approximately EUR 220&nbsp;million, of which
approximately EUR 80&nbsp;million will be in the sector Unallocated.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="u49809u4980921.gif" alt="(BAR CHART)">
</DIV>


<P align="right" style="font-size: 10pt">15
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<!-- link1 "Highlights full-year 2005" -->
<DIV align="left"><A NAME="009"></A></DIV>

<DIV align="left" style="font-size: 12pt; margin-top: 6pt"><B>Highlights full-year 2005</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0%"><B>The year 2005</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Sales in 2005 amounted to EUR 30,395&nbsp;million, up 4% compared with 2004 on both a nominal and a comparable basis. The growth was mainly driven by Medical Systems and DAP.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Income from operations amounted to EUR 1,779&nbsp;million in 2005, compared with EUR 1,586&nbsp;million in 2004.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Net income amounted to EUR&nbsp;2,868&nbsp;million, including EUR&nbsp;1,778&nbsp;million from the sale of financial holdings (TSMC, LG.Philips LCD, NAVTEQ, Atos Origin, Great Nordic).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Positive cash flow from operating activities of EUR&nbsp;2.1&nbsp;billion; negative net debt (positive net cash) at year-end.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="64%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 0px solid #000000"><B>Net income</B></TD>
    <TD style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 0px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 0px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 0px solid #000000">in millions of euros</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">2003</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>2005</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="11" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27,937</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29,346</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>30,395</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income from operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">502</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,586</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,779</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">as a % of sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.8</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5.4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5.9</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Financial income and expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(244</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">216</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>108</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income taxes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(358 </TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(586</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Results unconsolidated companies</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">506</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,422</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,681</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Minority interests</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(56</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(51 </TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(31</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD style="border-top: 0px solid #000000; border-top: 0px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="11" nowrap align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income from continuing operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">723</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,815</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,951</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Discontinued operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(14</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(83</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cumulative effect of change in
accounting principles, net of tax</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(14</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD style="border-top: 0px solid #000000; border-top: 0px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="11" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">695</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,836</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,868</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Per common share &#151; basic</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.54</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.22</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2.29</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0%"><B>Management summary</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0%">2005 was a good year for the Philips Group. Business picked up, particularly in the second
half of the year, to deliver solid comparable sales growth of 4%. All five operating divisions
except Semiconductors delivered comparable growth, led by Medical Systems with 7%. Emerging
markets contributed with 16% comparable sales growth.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0%">Income from operations increased by EUR 193&nbsp;million, driven by improved income from operations
at DAP and CE and a gain of EUR 187&nbsp;million resulting from the release of a provision for
post-retirement benefits, partly offset by charges of EUR 46&nbsp;million relating to certain billing
issues at MedQuist. Net income included gains on the sale of stakes in non-strategic companies.
Impairment and guarantee liabilities for LG.Philips Displays led to a charge of EUR 458&nbsp;million.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0%">Cash flows from operating activities were again strong at EUR 2,090&nbsp;million. The Company spent
over EUR 1.1&nbsp;billion on acquisitions and initiated two share repurchase programs totaling EUR 2
billion.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0%">Medical Systems benefited from increased R&#038;D investments in innovation, further growth in the
medical market and the successful acquisition of Stentor. DAP posted a strong performance
resulting from the introduction of innovative new products.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0%">The performance of Consumer Electronics improved significantly, driven by increased consumer
confidence, further benefits from the business renewal program and progress in its asset-light
strategy, including completion of the TPV deal.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0%">The lighting market continued its recovery in 2005. Mature markets like lamps and luminaires
benefited from strong growth in Europe and Asia. Philips Lighting consolidated Lumileds, a key
player in the high-growth LED lighting market.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0%">Impacted early in 2005 by a less buoyant technology sector, Semiconductors nevertheless ended
the year strongly, supported by its business renewal program. The Company announced that it will
create a separate legal structure for Semiconductors to allow the pursuit of options to further
strengthen the long-term performance of this business.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0%">Further investments were made in the global Philips brand campaign and innovation.
</DIV>

<P align="right" style="font-size: 10pt">16
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<!-- link1 "Other information" -->
<DIV align="left"><A NAME="010"></A></DIV>
<DIV align="left" style="font-size: 12pt; margin-top: 12pt"><B>Other information</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0%"><B>Other information</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0%">On December&nbsp;21, 2005, Philips announced the write-off of the book value of LG.Philips
Displays due to the increased pressure from flat displays on demand and prices for cathode-ray
tubes (CRTs). The write-off of the remaining book value at the end of November amounted to EUR
126&nbsp;million for the investment and EUR 290&nbsp;million for the accumulated negative difference in
currency translation related to the investment. The impairment charges totaled EUR 416&nbsp;million
and were of a non-cash nature. In addition, Philips took a cash charge of EUR 42&nbsp;million under
the guarantee provided to LG.Philips Displays&#146; banks. All amounts above were reported under
results relating to unconsolidated companies in December. Future results of LG.Philips Displays
will not negatively impact Philips&#146; equity, as Philips will not inject further capital into
LG.Philips Displays. Philips will continue to be a key customer of LG.Philips Displays for its CRT requirements.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0%">On January&nbsp;19, 2006, Philips announced that it has signed an agreement to acquire Lifeline
Systems for USD 750&nbsp;million. Lifeline Systems is a leading provider of personal response
services and emergency call systems in the USA and Canada.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0%">In response to recent regulatory changes in the United Kingdom, Philips has decided to eliminate
the current funding deficit of its UK defined-benefit pension plan through an additional
contribution of approximately GBP 400&nbsp;million in the first quarter of 2006. The impact on
earnings will be minimal.
</DIV>

<P align="right" style="font-size: 10pt">17
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0%"><B>Proposed dividend to shareholders</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0%">In line with the revised dividend distribution policy, a proposal will be submitted to the
General Meeting of Shareholders to declare a dividend of EUR 0.44 per common share
(approximately EUR 529&nbsp;million), an increase for the second consecutive year. In 2005 a dividend
of EUR 0.40 per common share was paid (EUR 504&nbsp;million).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0%"><B>Outlook</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0%">Growing the Company&#146;s top and bottom line and creating shareholder value have been the
highest priorities of the Board in recent years. In 2006 we expect all divisions will continue
to show growth, driven by both innovation and increased focus on emerging markets. Selected
acquisitions will complement this organic growth, especially at Medical Systems and Consumer
Health &#038; Wellness. We will complete the set-up of a separate legal structure for our
Semiconductors activities to allow the pursuit of strategic options to further strengthen the
long-term performance of this business.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0%">We will continue our drive to simplify Philips, lower our cost structure and improve our
operational excellence. Our ongoing R&#038;D and extended incubator program promise a strong
innovation pipeline which &#151; together with our marketing investments &#151; will help us meet our
targeted 7% &#151; 10% annual IFO margin from the end of 2006 and to continue to achieve an average
annual sales growth of 5-6%, with returns in excess of our cost of capital.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0%">Overall, our financial position remains excellent, offering significant strategic flexibility.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0%">Amsterdam, January&nbsp;23, 2006
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0%">Board of Management
</DIV>


<P align="right" style="font-size: 10pt">18
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<!-- link1 "Consolidated statements of income" -->
<DIV align="left"><A NAME="011"></A></DIV>
<DIV align="left" style="font-size: 12pt; margin-top: 12pt"><B>Consolidated statements of income</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">all amounts in millions of euros unless otherwise stated<BR>
restated for the intended sale of the MDS business

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="6" style="border-bottom: 1px solid #000000"><SUP style="font-size: 85%; vertical-align: text-top">4th</SUP> quarter</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000">January to December</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">2005</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">2005</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,948</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>9,518</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29,346</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>30,395</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cost of sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(5,970</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(6,476</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(19,485</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(20,577</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Gross margin</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,978</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,042</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,861</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>9,818</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Selling expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,362</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(1,383</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(4,549</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(4,751</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">General and administrative expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(321</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(253</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,326</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(1,182</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Research and development expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(633</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(662</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2,514</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(2,553</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Write-off of acquired in-process R&#038;D</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(6</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(6</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Impairment of goodwill</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(578</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(596</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other business income (expense)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(69</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>233</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">710</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>453</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Income from operations</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>971</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,586</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,779</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Financial income and expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">417</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>23</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">216</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>108</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income before taxes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">432</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>994</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,802</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,887</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income tax expense</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(128</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(531</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(358</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(586</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income after taxes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">304</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>463</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,444</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,301</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Results relating to unconsolidated
companies, including a year-to-date net
dilution gain of EUR 165&nbsp;million (2004: EUR
254&nbsp;million)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">198</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(70</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,422</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,681</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Minority interests</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(3</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(4</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(51</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(31</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income from continuing operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">499</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>389</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,815</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,951</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Discontinued operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(57</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(83</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Net income</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">498</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>332</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,836</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,868</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income from operations as a % of sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>10.2</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5.4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5.9</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Weighted average number of common shares
outstanding (after deduction of treasury
stock) during the period (in thousands):</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&#149; basic</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,280,251</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,249,956</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&#149; diluted</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,283,716</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,253,330</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net income per common share in euros:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&#149; basic</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.39</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>0.28</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.22</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2.29</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&#149; diluted</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.39</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>0.28</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.21</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2.29</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="right" style="font-size: 10pt">19
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link1 "Consolidated balance sheets and additional ratios" -->
<DIV align="left"><A NAME="012"></A></DIV>
<DIV align="left" style="font-size: 12pt; margin-top: 12pt"><B>Consolidated balance sheets and additional ratios</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">all amounts in millions of euros unless otherwise stated<BR>
restated for the intended sale of the MDS business

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">December</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>December</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">31,&nbsp;2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>31,&nbsp;2005</B></TD>
    <TD>&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>


<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Current assets:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Cash and cash equivalents</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,349</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5,293</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Receivables</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,412</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5,155</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Assets of discontinued operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">337</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>241</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Inventories</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,140</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,480</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Other current assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,213</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>937</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total current assets</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,451</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>15,106</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Non-current assets:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Investments in unconsolidated companies</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,670</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5,698</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Other non-current financial assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">876</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>673</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Non-current receivables</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">227</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>213</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Other non-current assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,823</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,231</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Property, plant and equipment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,871</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4,893</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Intangible assets excluding goodwill</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">987</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,299</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Goodwill</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,818</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,748</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total assets</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30,723</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>33,861</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Current liabilities:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Accounts and notes payable</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,346</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,856</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Liabilities of discontinued operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">188</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>143</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Accrued liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,282</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,632</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Short-term provisions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">781</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>869</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Other current liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">618</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>708</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Short-term debt</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">961</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,167</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total current liabilities</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,176</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>10,375</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Non-current liabilities:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Long-term debt</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,552</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,320</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Long-term provisions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,116</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,056</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Other non-current liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">736</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,112</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total liabilities</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,580</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>16,863</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Minority interests</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">283</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>332</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Stockholders&#146; equity</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,860</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>16,666</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total liabilities and equity</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30,723</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>33,861</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Number of common shares outstanding (after
deduction of treasury stock) at the end of
period (in thousands)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,281,527</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,201,358</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Ratios</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Stockholders&#146; equity per common share in euros</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11.60</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>13.87</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Inventories as a % of sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10.7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>11.4</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net debt : group equity</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1:99</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>(5):105</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net operating capital</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,043</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>8,043</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Employees at
end of period of which discontinued operations 2,536 end
2004 and 1,780 end 2005</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">161,586</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>159,226</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="right" style="font-size: 10pt">20
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>


<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link1 "Consolidated statements of cash flows " -->
<DIV align="left"><A NAME="013"></A></DIV>
<DIV align="left" style="font-size: 12pt; margin-top: 12pt"><B>Consolidated statements of cash flows </B><SUP style="font-size: 85%; vertical-align: text-top"><B>*</B></SUP>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">all amounts in millions of euros<BR>
restated for the intended sale of the MDS business

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="6" style="border-bottom: 1px solid #000000">4<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> quarter</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="6" style="border-bottom: 1px solid #000000">January to December</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">2005</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">2005</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><I>Cash flows from operating activities:</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Income from continuing operations</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">499</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>389</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,815</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,951</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Adjustments to reconcile income to net
cash provided by operating activities:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Depreciation and amortization</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,078</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>413</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,260</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,508</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Impairment of equity investments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>427</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>427</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net gain on sale of assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(623</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(382</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,328</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(2,118</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Unconsolidated companies (net of
dividends received)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(36</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(143</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,178</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(251</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Minority interests (net of dividends paid)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">35</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>15</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">(Increase) decrease in working
capital/other current assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,340</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,189</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">334</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(115</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">(Increase) decrease in non-current
receivables/other assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(470</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>83</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(435</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(250</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Increase (decrease)&nbsp;in provisions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">61</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(111</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">49</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(127</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other items</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>20</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">63</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>50</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Net cash provided by operating activities</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,882</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,889</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,623</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,090</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><I>Cash flows from investing activities:</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Purchase of intangible assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(47</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(31</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(103</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(92</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Capital expenditures on property, plant
and equipment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(397</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(320</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,273</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(997</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Proceeds from disposals of property,
plant and equipment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">64</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>172</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">191</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>270</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cash from (to)&nbsp;derivatives</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">32</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(12</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">125</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(46</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Proceeds from sale (purchase)&nbsp;of other
non-current financial assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">887</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(5</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">893</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>612</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Proceeds from sale (purchase)&nbsp;of
businesses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">526</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(210</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">835</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,551</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Net cash provided by (used for) investing
activities</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,065</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(406</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">668</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,298</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Cash flows before financing activities</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,947</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,483</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,291</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,388</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><I>Cash flows from financing activities:</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Increase (decrease)&nbsp;in debt</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(198</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>108</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,667</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(324</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Treasury stock transactions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(725</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(18</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(1,761</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Dividends paid</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(460</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(504</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>

<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Net cash used for financing activities</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(189</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(617</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2,145</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(2,589</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Net cash provided by continuing
operations</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,758</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>866</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,146</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>799</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Effect of change in consolidations on
cash positions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">117</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Effect of changes in exchange rates on
cash positions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(70</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>69</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(45</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>160</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net cash provided by (used for )
discontinued operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">51</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>14</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">59</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(15</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cash and cash equivalents at beginning of
period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,610</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4,344</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,072</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4,349</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Cash and cash equivalents at end of period</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,349</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5,293</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,349</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5,293</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">*</TD>
    <TD>&nbsp;</TD>
    <TD>For a number of reasons, principally the effects of translation differences and consolidation changes, certain items in the statements of
cash flows do not correspond to the differences between the balance sheet amounts for the respective items.</TD>
</TR>

</TABLE>


<P align="right" style="font-size: 10pt">21
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- LANDSCAPE -->


<!-- link1 "Consolidated statement of changes in stockholders&#146; equity" -->
<DIV align="left"><A NAME="014"></A></DIV>

<DIV align="left" style="font-size: 12pt; margin-top: 12pt"><B>Consolidated statement of changes in stockholders&#146; equity</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">all amounts in millions of euros
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="12%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
    <TD colspan="45" align="left" style="border-top: 0px solid #000000">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="6">January to December 2005</TD>
    <TD>&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="43" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="18" style="border-bottom: 1px solid #000000">Accumulated other comprehensive income (loss)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="6" style="border-bottom: 1px solid #000000">Treasury shares at cost</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Unrealized</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Changes</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">gain (loss)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">in fair</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Capital</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">on</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Additional</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">value of</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">To hedge</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">To cover</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Total</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;&nbsp;&nbsp;&nbsp;in excess</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Currency</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">available-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">minimum</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">cash</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">share-based</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">capital</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">stock-</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Common</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">of par</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Retained</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">translation</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">for-sale</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">pension</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">flow</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">compen-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">reduction</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">holders&#146;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">stock</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">value</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">earnings</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">differences</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">securities</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">liability</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">hedges</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">Total</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">sation plans</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">program</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">equity</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->

<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance as of December&nbsp;31, 2004</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">263</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">97</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19,346</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(3,407</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">174</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(429</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">55</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(3,607</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,239</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,860</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,868</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,868</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net current period change</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,186</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">43</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(116</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(64</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,049</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,049</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Reclassifications into income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">335</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(227</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(20</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">88</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">88</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total comprehensive income
(loss), net of tax</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,868</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,521</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(184</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(116</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(84</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,137</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,005</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Dividend paid</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(504</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(504</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Purchase of treasury stock</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(250</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,586</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,836</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Re-issuance of treasury stock</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(85</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">156</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">71</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Share-based compensation plans</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">70</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">70</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Balance as of December&nbsp;31, 2005</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>263</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>82</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>21,710</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(1,886</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(10</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(545</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(29</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(2,470</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(1,333</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(1,586</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>16,666</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="right" style="font-size: 10pt">22
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>


<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link1 "Product sectors" -->
<DIV align="left"><A NAME="015"></A></DIV>
<DIV align="left" style="font-size: 12pt; margin-top: 12pt"><B>Product sectors</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">all amounts in millions of euros unless otherwise stated<BR>
restated for the intended sale of the MDS business

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Sales and income from operations

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="22" style="border-bottom: 1px solid #000000">4<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> quarter </TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="10" style="border-bottom: 1px solid #000000">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="10" style="border-bottom: 1px solid #000000">2005</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Sales</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Income (loss) from</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Sales</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Income (loss) from</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="6" style="border-bottom: 1px solid #000000">operations</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="6" style="border-bottom: 1px solid #000000">operations</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" >amount</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">as a % of</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" >amount</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">as a % of</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">sales</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">sales</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Medical Systems</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,790</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(353</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(19.7</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,029</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>267</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>13.2</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">DAP</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">745</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">156</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>787</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>167</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>21.2</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Consumer Electronics</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,340</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">270</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8.1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,469</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>234</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>6.7</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Lighting</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,265</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">151</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,346</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>157</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>11.7</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Semiconductors</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,123</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">48</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,327</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>176</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>13.3</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other Activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">685</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(89</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(13.0</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>560</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>24</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4.3</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Unallocated</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(168</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(54</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,948</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>9,518</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>971</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>10.2</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="22" style="border-bottom: 1px solid #000000">January to December</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="10" style="border-bottom: 1px solid #000000">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="10" style="border-bottom: 1px solid #000000">2005</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Sales</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Income (loss) from</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Sales</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Income (loss) from</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="6" style="border-bottom: 1px solid #000000">operations</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="10" style="border-bottom: 1px solid #000000">operations</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">amount</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">as a % of</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">amount</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">as a % of</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">sales</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">sales</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Medical Systems</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,884</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">35</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.6</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>6,343</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>679</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>10.7</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">DAP</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,044</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">332</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16.2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,194</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>358</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>16.3</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Consumer Electronics</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,919</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">370</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>10,422</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>506</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4.9</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Lighting</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,526</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">593</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13.1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4,775</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>556</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>11.6</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Semiconductors</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,491</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">430</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9.6</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4,620</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>307</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>6.6</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other Activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,482</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">366</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14.7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,041</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(156</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(7.6</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Unallocated</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(540</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(471</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29,346</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,586</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5.4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>30,395</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,779</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5.9</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="right" style="font-size: 10pt">23
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link1 "Product sectors and main countries" -->
<DIV align="left"><A NAME="016"></A></DIV>
<DIV align="left" style="font-size: 12pt; margin-top: 12pt"><B>Product sectors and main countries</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">all amounts in millions of euros<BR>
restated for the intended sale of the MDS business

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Sales and total assets

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="6" style="border-bottom: 1px solid #000000">Sales</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="6" style="border-bottom: 1px solid #000000">Total assets</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="6" style="border-bottom: 1px solid #000000">January to December</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="6" style="border-bottom: 1px solid #000000">December 31,</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">2005</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">2005</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Medical Systems</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,884</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>6,343</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,675</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5,511</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">DAP</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,044</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,194</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">816</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>896</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Consumer Electronics</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,919</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>10,422</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,396</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,665</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Lighting</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,526</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4,775</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,413</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,643</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Semiconductors</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,491</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4,620</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,859</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,724</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other Activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,482</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,041</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,944</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>6,950</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Unallocated</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,283</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>10,231</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29,346</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>30,395</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30,386</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>33,620</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Discontinued operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">337</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>241</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30,723</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>33,861</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Sales and long-lived assets
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="6" style="border-bottom: 1px solid #000000">Sales</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="6" style="border-bottom: 1px solid #000000">Long-lived assets *</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="6" style="border-bottom: 1px solid #000000">January to December</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="6" style="border-bottom: 1px solid #000000">December 31,</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">2005</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">2005</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Netherlands</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,200</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,060</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,495</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,495</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">United States</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,959</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>7,432</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,906</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4,263</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Germany</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,268</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,239</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">572</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>542</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">France</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,949</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,814</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">191</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>170</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">United Kingdom</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,237</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,176</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">186</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>150</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">China</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,608</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">355</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>340</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other countries</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,125</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>13,665</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,971</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,980</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29,346</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>30,395</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,676</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>8,940</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">*</TD>
    <TD>&nbsp;</TD>
    <TD>Includes property, plant and equipment and intangible assets</TD>
</TR>

</TABLE>




<P align="right" style="font-size: 10pt">24
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<!-- link1 "Pension costs" -->
<DIV align="left"><A NAME="017"></A></DIV>
<DIV align="left" style="font-size: 12pt; margin-top: 12pt"><B>Pension costs</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">all amounts in millions of euros unless otherwise stated
<BR>restated for the intended sale of the MDS business
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Net periodic pension costs of defined-benefit plans
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="6" style="border-bottom: 1px solid #000000">4<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> quarter 2005</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="6" style="border-bottom: 1px solid #000000">January-Dec. 2005</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">Netherlands</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">Other</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">Netherlands</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">Other</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Service cost</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">54</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">35</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">211</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">132</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Interest cost on the projected benefit
obligation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">139</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">105</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">557</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">392</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Expected return on plan assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(187  </TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(95 </TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(739  </TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(360 </TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Amortization of unrecognized transition
obligation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net actuarial (gain)&nbsp;loss recognized</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(7  </TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(28  </TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">44</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Amortization of prior service cost</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(14  </TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(57 </TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Settlement loss</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(6  </TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(4 </TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(4  </TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1  </TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Net periodic cost (income)</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(21 </B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>61</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(60 </B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>247</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The net periodic pension costs in the fourth quarter of 2005 amounted to EUR 61&nbsp;million, of which EUR 40&nbsp;million for defined-benefit plans (the Netherlands income
of EUR 21&nbsp;million, other countries cost of EUR 61&nbsp;million) and EUR 21&nbsp;million related to defined-contribution plans outside the Netherlands.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Net periodic costs of postretirement benefits other than pensions
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="6" style="border-bottom: 1px solid #000000">4<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> quarter 2005</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="6" style="border-bottom: 1px solid #000000">January-Dec. 2005</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">Netherlands</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">Other</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">Netherlands</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">Other</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Service cost</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Interest cost on the accumulated
postretirement benefit obligation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Amortization of unrecognized transition
obligation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net actuarial loss recognized</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Curtailment gain</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(187</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(187 </TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Net periodic cost (income)</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(177</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>9</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(145 </B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>33</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">25
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 "Consolidated statements of income in accordance with IFRS" -->
<DIV align="left"><A NAME="018"></A></DIV>
<DIV align="left" style="font-size: 12pt; margin-top: 12pt"><B>Consolidated statements of income in accordance with IFRS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">all amounts in millions of euros unless otherwise stated
<BR>restated for the intended sale of the MDS business
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="6" style="border-bottom: 1px solid #000000">4<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> quarter</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="6" style="border-bottom: 1px solid #000000">January to December</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">2005</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">2005</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,948</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>9,518</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29,346</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>30,395</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cost of sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(5,974</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(6,493</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(19,516</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(20,631</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Gross margin</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,974</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,025</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,830</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>9,764</B></TD>
    <TD>&nbsp;</TD>
</TR><TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Selling expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,365</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(1,385</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(4,558</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(4,738</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">General and administrative expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(334</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(230</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,417</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(1,264</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Research and development expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(556</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(668</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2,326</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(2,337</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Impairment of goodwill</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(575</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(591</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other business income (expense)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(73</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>249</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">726</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>451</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR><TD>&nbsp;</TD></TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Income from operations</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">71</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>991</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,664</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,876</B></TD>
    <TD>&nbsp;</TD>
</TR><TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Financial income and expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">235</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>28</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">34</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>113</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR><TD>&nbsp;</TD></TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income before taxes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">306</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,019</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,698</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,989</B></TD>
    <TD>&nbsp;</TD>
</TR><TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income tax expense</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(114</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(539</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(354</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(615</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR><TD>&nbsp;</TD></TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income after taxes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">192</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>480</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,344</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,374</B></TD>
    <TD>&nbsp;</TD>
</TR><TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Results relating to unconsolidated
companies, including a year-to-date net
dilution gain of EUR 190&nbsp;million (2004: EUR
314&nbsp;million)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">182</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>315</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,456</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,205</B></TD>
    <TD>&nbsp;</TD>
</TR><TR><TD>&nbsp;</TD></TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Minority interests</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(5</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(3</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(53</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(31</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income from continuing operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">369</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>792</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,747</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,548</B></TD>
    <TD>&nbsp;</TD>
</TR><TR><TD>&nbsp;</TD></TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Discontinued operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(139</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">36</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(174</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Net income</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">373</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>653</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,783</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,374</B></TD>
    <TD>&nbsp;</TD>
</TR><TR><TD>&nbsp;</TD></TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income from operations as a % of sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.8</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>10.4</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5.7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>6.2</B></TD>
    <TD>&nbsp;</TD>
</TR><TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Weighted average number of common shares
outstanding (after deduction of treasury
stock) during the period (in thousands)</DIV></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
   <TD><DIV style="margin-left:15px; text-indent:-15px">&#149; basic</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,280,251</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,249,956</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&#149; diluted</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,283,716</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,253,330</B></TD>
    <TD>&nbsp;</TD>
</TR><TR><TD>&nbsp;</TD></TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net income per common share in euros:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&#149; basic</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.29</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>0.54</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.17</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2.70</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&#149; diluted</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.28</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>0.54</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.16</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2.70</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">26
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 "Consolidated balance sheets and additional ratios in accordance with IFRS" -->
<DIV align="left"><A NAME="019"></A></DIV>
<DIV align="left" style="font-size: 12pt; margin-top: 12pt"><B>Consolidated balance sheets and additional ratios in accordance with IFRS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">all amounts in millions of euros unless otherwise stated <BR>restated for the intended sale of the MDS business
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">December</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2"><B>December</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">31, 2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000"><B>31, 2005</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Current assets:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Cash and cash equivalents</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,349</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5,293</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Receivables</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,412</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5,155</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Assets of discontinued operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">370</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>190</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Inventories</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,140</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,480</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Other current assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">880</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>455</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total current assets</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,151</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>14,573</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Non-current assets:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Investments in unconsolidated companies</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,441</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5,520</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Other non-current financial assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">876</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>673</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Non-current receivables</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">227</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>213</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Other non-current assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">107</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>126</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Deferred tax assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,015</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,047</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Property, plant and equipment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,902</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4,912</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Intangible assets excluding goodwill</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,289</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,175</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Goodwill</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,463</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,304</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total assets</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30,471</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>33,543</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Current liabilities:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Accounts and notes payable</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,346</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,856</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Liabilities of discontinued operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">188</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>143</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Accrued liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,206</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,595</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Short-term provisions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">727</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>842</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Other current liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">618</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>708</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Short-term debt</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">962</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,168</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total current liabilities</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,047</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>10,312</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Non-current liabilities:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Long-term debt</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,583</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,339</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Long-term provisions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,162</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,817</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Deferred tax liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">323</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>309</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Other non-current liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">832</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,094</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total liabilities</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,947</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>16,871</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Minority interests</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">285</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>353</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Stockholders&#146; equity</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,239</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>16,319</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total liabilities and equity</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30,471</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>33,543</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Number of common shares outstanding (after
deduction of treasury stock) at the end of
period (in thousands)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,281,527</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,201,358</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Ratios</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR><TD>&nbsp;</TD></TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Stockholders&#146; equity per common share in euros</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11.11</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>13.58</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Inventories as a % of sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10.7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>11.4</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net debt : group equity</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1:99</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>(5):105</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Employees at end of period of which discontinued operations 2,536 end
2004 and 1,780 end 2005</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">161,586</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>159,226</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">27
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 "Reconciliation from US GAAP to IFRS" -->
<DIV align="left"><A NAME="020"></A></DIV>
<DIV align="left" style="font-size: 12pt; margin-top: 18pt"><B>Reconciliation from US GAAP to IFRS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">all amounts in millions of euros unless otherwise stated
<BR>restated for the intended sale of the MDS business
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Reconciliation of net income from US GAAP to IFRS
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="6" style="border-bottom: 1px solid #000000">4<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> quarter</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="6" style="border-bottom: 1px solid #000000">January to December</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000"><B>2005</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000"><B>2005</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net income as per the consolidated
statements of income on a US GAAP basis</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">498</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>332</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,836</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,868</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Adjustments to IFRS:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Capitalized product development expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">192</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>179</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">617</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>697</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Amortization of product development assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(110</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(167</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(412</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(467</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Pensions and other postretirement benefits</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(37</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>31</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(150</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(114</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Financial income/expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(182</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(182</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Unconsolidated companies</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(16</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>386</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">34</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>525</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Deferred income tax effects</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(8</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(29</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Discontinued operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(100</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(91</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other differences in income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(5</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(20</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Net income in accordance with IFRS</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">373</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>653</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,783</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,374</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Reconciliation of stockholders&#146; equity from US GAAP to IFRS
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="6" style="border-bottom: 1px solid #000000">December 31,</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000"><B>2005</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Stockholders&#146; equity as per the consolidated
balance sheets on a US GAAP basis</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,860</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>16,666</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Adjustments to IFRS:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Product development expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,409</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,668</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Pensions and other postretirement benefits</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,701</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(1,749</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Goodwill amortization (until January&nbsp;1, 2004)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(355</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(404</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Goodwill capitalization (acquisition-related)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(40</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Acquisition-related intangibles</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>294</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Assets from discontinued operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">33</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(51</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Unconsolidated companies</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(230</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(178</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Recognized results on sale-and-leaseback transactions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">102</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>80</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Deferred income tax effects</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">123</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>57</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other differences in equity</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(24</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Stockholders&#146; equity in accordance with IFRS</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,239</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>16,319</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">28
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 "Reconciliation of non-US GAAP performance measures" -->
<DIV align="left"><A NAME="021"></A></DIV>
<DIV align="left" style="font-size: 12pt; margin-top: 12pt"><B>Reconciliation of non-US GAAP performance measures</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">all amounts in millions of euros unless otherwise stated
<BR>restated for the intended sale of the MDS business
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Certain non-US GAAP financial measures are presented when discussing the Philips Group&#146;s performance. In the following tables, a
reconciliation to the most directly comparable US GAAP performance measure is made.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Sales growth composition (in %)
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="14" style="border-bottom: 1px solid #000000">January to December</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Comparable</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Currency</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Consolidation</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Nominal</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">growth</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">effects</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">changes</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">growth</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">2005 versus 2004</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Medical Systems</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>6.7</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>0.5</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>0.6</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>7.8</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">DAP</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5.9</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1.5</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>7.4</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Consumer Electronics</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4.7</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1.6</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(1.2 </B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5.1</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Lighting</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4.0</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1.1</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>0.4</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5.5</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Semiconductors</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>0.0</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>0.3</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2.6</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2.9</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other Activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(5.2</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>0.2</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(12.8 </B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(17.8 </B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Philips Group</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3.6</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1.0</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(1.0 </B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3.6</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Composition of net debt and group equity
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="6" style="border-bottom: 1px solid #000000">December 31,</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000"><B>2005</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Long-term debt</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,552</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,320</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Short-term debt</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">961</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,167</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total debt</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,513</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4,487</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cash and cash equivalents</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(4,349</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(5,293</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net debt (total debt less cash and cash equivalents)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">164</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(806</B></TD>
    <TD nowrap><B>)</B></TD>
</TR><TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Minority interests</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">283</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>332</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Stockholders&#146; equity</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,860</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>16,666</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Group equity</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,143</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>16,998</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net debt and group equity</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,307</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>16,192</B></TD>
    <TD>&nbsp;</TD>
</TR><TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net debt divided by net debt and group equity (in %)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(5</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Group equity divided by net debt and group equity (in %)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">99</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>105</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">29
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 12pt; margin-top: 12pt"><B>Reconciliation of non-US GAAP performance measures (continued)</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">all amounts in millions of euros unless otherwise stated
<BR>restated for the intended sale of the MDS business
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Net operating capital to total assets
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="43%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="3">Philips</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="3">Medical</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="3">Consumer</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="3">Semi-</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="3">Other</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="3" style="border-bottom: 1px solid #000000">Group</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="3" style="border-bottom: 1px solid #000000">Systems</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="3" style="border-bottom: 1px solid #000000">DAP</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="3" style="border-bottom: 1px solid #000000">Electronics</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="3" style="border-bottom: 1px solid #000000">Lighting</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="3" style="border-bottom: 1px solid #000000">conductors</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="3" style="border-bottom: 1px solid #000000">Activities</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="3" style="border-bottom: 1px solid #000000">Unallocated</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>December&nbsp;31, 2005</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net operating capital (NOC)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>8,043</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,400</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>370</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(296</B></TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,491</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,363</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>272</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(557</B></TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Eliminate liabilities comprised in NOC:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><FONT style="font-family: Symbol">&#045;</FONT> payables/liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>9,308</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,712</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>456</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,540</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>956</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>828</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,017</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,799</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><FONT style="font-family: Symbol">&#045;</FONT> intercompany accounts</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>34</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>13</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>64</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>42</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>19</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(100</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><B>(72</B></TD>
    <TD nowrap><B>)</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><FONT style="font-family: Symbol">&#045;</FONT> provisions<SUP style="font-size: 85%; vertical-align: text-top">1)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,600</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>299</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>57</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>335</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>134</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>215</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>582</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>978</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Include assets not comprised in NOC:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><FONT style="font-family: Symbol">&#045;</FONT> investments in unconsolidated comp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5,698</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>66</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>22</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>20</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>299</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5,179</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>112</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><FONT style="font-family: Symbol">&#045;</FONT> other non-current financial assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>673</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>673</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><FONT style="font-family: Symbol">&#045;</FONT> deferred tax assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,005</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,005</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><FONT style="font-family: Symbol">&#045;</FONT> liquid assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5,293</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5,293</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>    <TD>&nbsp;</TD>    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>33,620</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5,511</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>896</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,665</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,643</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,724</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>6,950</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>10,231</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Discontinued operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>241</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>33,861</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->


<TR valign="bottom">
<TD colspan="30">
<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 6pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
</TR>

<TR valign="top">
    <TD colspan="30"><SUP style="font-size: 85%; vertical-align: text-top">1)</SUP> provisions on balance sheet EUR 2,925&nbsp;million excluding deferred tax liabilities of EUR 325&nbsp;million</TD>
</TR>
 <TR style="font-size: 6pt"><TD>&nbsp;</TD></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>December&nbsp;31, 2004</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net operating capital (NOC)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,043</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,862</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">393</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(161</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,493</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,520</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">117</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(181</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Eliminate liabilities comprised in NOC:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><FONT style="font-family: Symbol">&#045;</FONT> payables/liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,982</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,492</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">353</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,162</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">710</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">809</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,109</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,347</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><FONT style="font-family: Symbol">&#045;</FONT> intercompany accounts</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">35</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">62</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">26</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(104</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(29</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><FONT style="font-family: Symbol">&#045;</FONT> provisions<SUP style="font-size: 85%; vertical-align: text-top">2)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,669</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">240</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">60</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">314</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">138</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">224</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">619</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,074</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Include assets not comprised in NOC:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><FONT style="font-family: Symbol">&#045;</FONT> investments in unconsolidated comp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,670</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">46</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">46</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">306</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,203</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">50</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><FONT style="font-family: Symbol">&#045;</FONT> other non-current financial assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">876</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">876</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><FONT style="font-family: Symbol">&#045;</FONT> deferred tax assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,797</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,797</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><FONT style="font-family: Symbol">&#045;</FONT> liquid assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,349</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,349</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30,386</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,675</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">816</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,396</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,413</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,859</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,944</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,283</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Discontinued operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">337</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>

    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30,723</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 6pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left" ><SUP style="font-size: 85%; vertical-align: text-top">2)</SUP> </TD>
    <TD>&nbsp;</TD>
    <TD>provisions on balance sheet EUR 2,897&nbsp;million excluding deferred tax liabilities of EUR 228&nbsp;million
Composition of cash flows before financing activities</TD>
</TR>

</TABLE>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="6" style="border-bottom: 1px solid #000000">4<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> quarter</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="6" style="border-bottom: 1px solid #000000">January to December</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000"><B>2005</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000"><B>2005</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cash flows from operating activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,882</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,889</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,623</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,090</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cash flows from investing activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,065</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(406</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">668</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,298</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cash flows before financing activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">2,947</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000"><B>1,483</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">3,291</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000"><B>3,388</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">30
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 "Philips quarterly statistics" -->
<DIV align="left"><A NAME="022"></A></DIV>
<DIV align="left" style="font-size: 12pt; margin-top: 12pt"><B>Philips quarterly statistics</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">all amounts in millions of euros unless otherwise stated; percentage increases always in<BR>
relation to the corresponding period of previous year restated for the intended sale of the MDS business
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="14" style="border-bottom: 1px solid #000000">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="14" style="border-bottom: 1px solid #000000">2005</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">1<SUP style="font-size: 85%; vertical-align: text-top">st</SUP> quarter</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">2<SUP style="font-size: 85%; vertical-align: text-top">nd</SUP> quarter</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">3<SUP style="font-size: 85%; vertical-align: text-top">rd</SUP> quarter</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">4<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> quarter</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">1<SUP style="font-size: 85%; vertical-align: text-top">st</SUP> quarter</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">2<SUP style="font-size: 85%; vertical-align: text-top">nd</SUP> quarter</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">3<SUP style="font-size: 85%; vertical-align: text-top">rd</SUP> quarter</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">4<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> quarter</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,366</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,023</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,009</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,948</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,492</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,927</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,458</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,518</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">% increase</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6</TD>
    <TD>&nbsp;</TD>
</TR><TR><TD>&nbsp;</TD></TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income from operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">212</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">347</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,012</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">207</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">158</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">443</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">971</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">as a % of sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14.4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10.2</TD>
    <TD>&nbsp;</TD>
</TR><TR><TD>&nbsp;</TD></TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">550</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">616</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,172</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">498</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">117</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">983</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,436</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">332</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">per common share in euros</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.43</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.48</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.92</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.39</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.09</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.78</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.14</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.28</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">January-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">January-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">January-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">January-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">January-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">January-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">January-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">January-</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">March</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">June</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">September</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">December</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">March</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">June</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">September</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">December</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,366</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,389</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20,398</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29,346</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,492</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,419</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20,877</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30,395</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">% increase</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4</TD>
    <TD>&nbsp;</TD>
</TR><TR><TD>&nbsp;</TD></TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income from operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">212</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">559</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,571</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,586</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">207</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">365</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">808</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,779</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">as a % of sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4.2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7.7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5.4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5.9</TD>
    <TD>&nbsp;</TD>
</TR><TR><TD>&nbsp;</TD></TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">550</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,166</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,338</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,836</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">117</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,100</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,536</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,868</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">as a % of stockholders&#146;
equity (ROE)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19.0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23.7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18.3</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">per common share in euros</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.43</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.91</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.83</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.22</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.09</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.87</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.01</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.29</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="14" style="border-bottom: 1px solid #000000">period ending 2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="14" style="border-bottom: 1px solid #000000">period ending 2005</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Inventories as a % of sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12.7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13.6</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10.7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12.0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13.4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11.4</TD>
    <TD>&nbsp;</TD>
</TR><TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net debt : group equity ratio</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18:82</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21:79</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17:83</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1:99</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8:92</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8:92</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0:100</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">(5):105</TD>
    <TD>&nbsp;</TD>
</TR><TR><TD>&nbsp;</TD></TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total employees (in thousands)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">165</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">166</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">167</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">162</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">161</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">160</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">161</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">159</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-0px">of which discontinued
operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Information also available on Internet, address: www.investor.philips.com
<BR>Printed in the Netherlands
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">31
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Philips and Toppoly to form leading mobile display company
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thursday, November&nbsp;10, 2005
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Company to offer competitive customer solutions by combining technology capabilities, Intellectual
Property, production resources and customer outreach
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Amsterdam, The Netherlands, Chu-Nan,Taiwan &#151; Royal Philips Electronics (NYSE: PHG, AEX: PHI) of The
Netherlands and Toppoly Optoelectronics Corporation of Taiwan today announced they have signed a
binding letter of intent to join forces in mobile displays by merging Philips&#146; Mobile Display
Systems (MDS)&nbsp;business unit with Toppoly to create a leader in mobile display technology. The
company will be named &#147;TPO&#148;. Upon completion of the transaction, TPO&#146; s principal shareholders will
be Compal Electronics Inc. (of Taiwan): 25.1%, Philips: 17.5%, and UniPresident Enterprises Corp.
(of Taiwan) with 3.5%.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">TPO aims to be one of the world&#146;s leading solution providers in the mobile display industry by
combining Philips&#146; and Toppoly&#146;s respective strengths and resources. The deal will result in an
innovative and highly competitive entity in mobile displays, offering an extensive product and
technology portfolio.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Toppoly has state-of-the-art production facilities with substantial production capacity in Taiwan
and China for advanced mobile display technologies, such as low temperature polysilicon (LTPS)&nbsp;and
active matrix organic light emitting diodes (AMOLED). The company, which successfully pioneered
LTPS, has a high performance product portfolio, fast time to market and an extensive customer base
of diversified applications.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Philips will contribute its substantial intellectual property portfolio and its advanced technology
in cooperation with Philips Research, as well as its long-term relationships with a wide, global
customer base and a successful track record in product quality.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Through this merger, we will create a global industry leader that is innovative and provides
sustainable competitive advantages for the long term. By teaming up with MDS, we&#146;re strengthening
our capabilities to providing the best service to our customers worldwide,&#148; said Ray Chen, the
President and CEO of Compal Electronics Inc. and Chairman of Toppoly Optoelectronics Corp.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Toppoly has successfully pioneered LTPS technology in the flat panel industry and continuously
developed next generation display technology to capture the increasingly challenging market. By
combining our respective strengths, we will create leadership in the mobile display market&#148;, said
Mr Harrie Brunklaus, Senior Vice President of Philips and CEO of Philips Corporate Investments.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The transaction will be conditional upon regulatory approvals, and is expected to be completed in
the first half of 2006
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For further information, please contact:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Jeannet Harpe<BR>
Philips Corporate Communications<BR>
Tel &#043;31 20 59 77 199<BR>
email <U>jeannet.harpe@philips.com</U>

</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Wilma Wei<BR>
Toppoly Optoelectronics Corp.<BR>
Tel 886 37 586 393<BR>
email <U>IR@toppoly.com</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">About Toppoly
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Established on 24 December&nbsp;1999, Toppoly Optoelectronics Corp is the first flat panel display
volume manufacturer dedicated in LTPS technology in Taiwan. With years operation, Toppoly has been
successfully building its market reputation in small &#038; medium size panel products, including
digital still camera, mobile phone, PDA, automotive, &#038; notebook. . Information on Toppoly and its
products can be obtained at <U>www.toppoly.com</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">About Royal Philips Electronics
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is one of the world&#146;s biggest
electronics companies and Europe&#146;s largest, with sales of EUR 30.3&nbsp;billion in 2004. With activities
in the three interlocking domains of healthcare, lifestyle and technology and 161,100 employees in
more than 60 countries, it has market leadership positions in medical diagnostic imaging and
patient monitoring, color television sets, electric shavers, lighting and silicon system solutions.
News from Philips is located at <U>www.philips.com/newscenter</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Forward-looking statements
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This release may contain certain forward-looking statements with respect to the financial
condition, results of operations and business of Philips and certain of the plans and objectives of
Philips with respect to these items. By their nature, forward-looking statements involve risk and
uncertainty because they relate to events and depend on circumstances that will occur in the future
and there are many factors that could cause actual results and developments to differ materially
from those expressed or implied by these forward-looking statements.
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Philips to merge its MDS business unit with Toppoly
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thursday, November&nbsp;10, 2005
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Amsterdam, The Netherlands, Chu-Nan,Taiwan &#151; Today Royal Philips Electronics (NYSE: PHG, AEX: PHI)
of The Netherlands and Toppoly Optoelectronics Corporation of Taiwan announced that they have
signed a binding letter of intent to join forces by merging Philips&#146; Mobile Display Systems (MDS)
business unit with Toppoly to create a leader in mobile display technology. The company will be
named &#147;TPO&#148;. Upon completion of the transaction, TPO&#146;s principal shareholders will be Compal
Electronics Inc. (of Taiwan): 25.1%, Philips: 17.5%, and UniPresident Enterprises Corp. (of Taiwan)
with 3.5%.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As a result of this transaction Philips will take a charge of approximately EUR 70&nbsp;million in
fourth quarter 2005, based on current exchange rates and Toppoly share price. Additionally, in
accordance with accounting principles, Philips will deconsolidate the MDS business and separately
report the results in the 2005 financial statements.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The transaction, pending regulatory approvals, is expected to be completed in the first half of
2006. The participation in TPO will be reported as a non-current financial asset.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For further information, please also refer to the joint press release, issued November&nbsp;10, or
contact:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Jeannet Harpe
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Philips Corporate Communications<BR>
Tel &#043;31 20 59 77 199<BR>
email jeannet.harpe@philips.com

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">About Royal Philips Electronics
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is one of the world&#146;s biggest
electronics companies and Europe&#146;s largest, with sales of EUR 30.3&nbsp;billion in 2004. With activities
in the three interlocking domains of healthcare, lifestyle and technology and 161,100 employees in
more than 60 countries, it has market leadership positions in medical diagnostic imaging and
patient monitoring, color television sets, electric shavers, lighting and silicon system solutions.
News from Philips is located at www.philips.com/newscenter
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Forward-looking statements
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This release may contain certain forward-looking statements with respect to the financial
condition, results of operations and business of Philips and certain of the plans and objectives of
Philips with respect to these items. By their nature, forward-looking statements involve risk and
uncertainty because they relate to events and depend on circumstances that will occur in the future
and there are many factors that could cause actual results and developments to differ materially
from those expressed or implied by these forward-looking statements.
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Philips opens global R&#038;D center in Shanghai to develop ultra low cost mobiles
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Friday, November&nbsp;11, 2005
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Sub $20 GSM Handsets Seeks to Narrow Divide between China&#146;s Urban &#038; Rural
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">SHANGHAI, CHINA &#151; Royal Philips Electronics (NYSE: PHG, AEX: PHI) on the occasion of the Board of
Management&#146;s 3rd visit to China in the past 3&nbsp;years, today announced the opening of the ULC Design
Center in Shanghai as a further step in the execution of its China growth strategy. This new global
R&#038;D center will be focused on enabling handset manufacturers to develop ultra low-cost (ULC)&nbsp;phones
with Nexperia&#153; Cellular System Solutions for emerging markets. The decision is part of an overall
initiative to address the growing consumer demand for low-cost mobile communications in China,
India, Africa, South America and Eastern Europe to drive down total handset costs below $15 by
2008.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This ULC Design Center will drive Philips ultra-low cost activities in China, working closely with
its existing European design facilities and the Bangalore-based Innovation Campus to contribute
towards dramatically reducing costs and bringing handsets to the consumer, manufactured at sub-$20.
This initiative responds to growing consumer spending in rural China, and plans to offer them
affordable access to mobile telephony in order to bridge the digital divide.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;According to studies by the World Bank, 77&nbsp;percent of the world&#146;s population lives within range of
a mobile phone network, but only 25&nbsp;percent of us subscribe to a mobile phone service,&#148; said Gerard
Kleisterlee, President and CEO, Royal Philips Electronics. &#147;By offering mobile manufacturers an
ultra low-cost Nexperia Cellular System Solution, we are bringing affordable access to wireless
communications for an untapped global consumer base of 3.3&nbsp;billion people in key markets such as rural China.&#148;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The first commercially available ultra low-cost handsets based on the Nexperia&#153; Cellular System
Solution will offer voice, SMS and basic multimedia capability, with a black and white screen,
providing the basic functionality and low cost desired by new subscribers in emerging mobile phone
markets.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;As there are no subsidized mobile phones in China, handset manufacturers must provide consumers
with mobile phones they can actually afford. By bringing to market a sub-$5 Nexperia Cellular
System Solution, Philips is enabling its customers to dramatically reduce costs and bring sub-$20
handsets to the consumer,&#148; stated Tony Lear, Senior Vice President and General Manager, Philips
Semiconductors China. &#147;Philips is pleased to give consumers in emerging markets such as rural China
the ability to connect to each other as well as to entertainment, information and services while on
the move via an ultra low cost handset designed around their needs.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Nexperia is a trademark of Koninklijke Philips Electronics N.V.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Christina Zhang<BR>
China Corporate Communications<BR>
Tel &#043;86 10 6517 2288 ext. 3080<BR>
email christina.th.zhang@philips.com

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Terry Chiang
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Asia Pacific Semiconductors Communications<BR>
Tel &#043;886 2 3789 2821<BR>
email terry.chiang@philips.com

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Sajin Varghese<BR>
Global Corporate Communications<BR>
Tel &#043;31 65 16 33 308<BR>
email Sajin.varghese@philips.com

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">About Royal Philips Electronics
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is one of the world&#146;s biggest
electronics companies and Europe&#146;s largest, with sales of EUR 30.3&nbsp;billion in 2004. With activities
in the three interlocking domains of healthcare, lifestyle and technology and 161,100 employees in
more than 60 countries, it has market leadership positions in medical diagnostic imaging and
patient monitoring, color television sets, electric shavers, lighting and silicon system solutions.
News from Philips is located at www.philips.com/newscenter
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Schering and Philips team up in new field of optical imaging for the prevention and treatment of
breast cancer
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Monday, November&nbsp;28, 2005
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Partners collaborate to develop contrast agents and medical equipment for the<BR>
emerging optical imaging market<BR>
First development project &#151; focused on mammography &#151; in Phase I clinical trials

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Amsterdam, The Netherlands and Berlin, Germany &#151; Royal Philips Electronics (NYSE: PHG, AEX: PHI)
and Schering AG, Germany (FSE: SCH, NYSE: SHR) announced today the formation of an alliance to
research, develop and commercialize medical equipment and associated contrast agents for optical
imaging. As part of their collaboration, the companies will have the option to expand the alliance
to cover other imaging technologies and contrast agents, where synergies between the partners are
expected, and will also explore the emerging field of molecular imaging. Philips and Schering have
agreed to split equally all research and development costs as well as all future revenues from the
contrast agents, medical equipment and related services related to this alliance. Financial details
of the alliance were not disclosed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Optical imaging is an emerging imaging technology with the potential to offer new approaches in the
prevention and treatment of breast cancer as well as other diseases. Optical imaging uses lasers to
illuminate superficial tissue &#151; such as breast tissue. By combining this technology with an optical
dye, tumors might be targeted more precisely. Due to its high resolution and sensitivity, optical
imaging is expected to offer breast cancer patients a less aggressive, more patient-friendly
follow-up examination. Today, such patients may need to undergo the invasive procedure of a biopsy
in cases where traditional exams produce inconclusive results.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;We are very excited to team up with a leader in the contrast agent industry. Schering has strong
capabilities in pharmaceutical R&#038;D, and is clearly out in front in the new field of contrast agents
for optical imaging. We also believe this collaboration builds on Philips&#146; patient focus of coming
out with advanced, patient-friendly approaches to preventing and treating serious diseases like
breast cancer,&#148; explained Jouko Karvinen, CEO of Philips Medical Systems.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Schering is highly committed to drive innovation in the field of optical imaging,&#148; said Dr.&nbsp;Karin
Dorrepaal, member of the executive board of Schering AG, responsible for Diagnostic Imaging. &#147;We
are looking forward to combining our expertise in the field of optical imaging agents with Philips&#146;
strong capabilities in medical imaging and established track record in developing leading edge
diagnostic imaging. This will create strong synergies to drive progress in areas of high unmet
medical need such as the early and precise diagnosis of breast cancer.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The alliance&#146;s first development project will combine an optical dye called omocianine (SF-64) from
Schering for the diagnosis of breast cancer, currently in Phase I trials, with an enhanced
mammography device developed by Philips. The companies will also explore the emerging field of
molecular imaging, looking at how to develop dyes that can potentially target breast tumors at the
molecular level. Philips and Schering believe the alliance announced today will put them in a
leading position in the emerging optical imaging market.
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">It is estimated that once products are commercialized, the market for optical imaging contrast
agents and equipment will see average annual growth rates of over 20%.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">According to health services company Imaginis Corporation, breast cancer is the second leading
cause of cancer deaths in women today (after lung cancer). The World Health Organization estimates
that more than 1.2&nbsp;million people around the world will be diagnosed with breast cancer this year,
with the number of deaths among women expected to exceed 40,000 in the United States alone. Death
rates from breast cancer did decline significantly between 1992 and 1996, according to the American
Cancer Society, and medical experts attribute the decline to earlier detection and more effective
treatments.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For further information, please contact:<BR>
Jayson Otke<BR>
Philips Corporate Communications<BR>
Tel &#043;31 20 5977215<BR>
email <U>jayson.otke@philips.com</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Oliver Renner<BR>
Schering AG Media Relations<BR>
Tel &#043;49-30-468 12431<BR>
email <U>oliver.renner@schering.de</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">About Royal Philips Electronics
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is one of the world&#146;s biggest
electronics companies and Europe&#146;s largest, with sales of EUR 30.3&nbsp;billion in 2004. With activities
in the three interlocking domains of healthcare, lifestyle and technology and 161,100 employees in
more than 60 countries, it has market leadership positions in medical diagnostic imaging and
patient monitoring, color television sets, electric shavers, lighting and silicon system solutions.
News from Philips is located at <U>www.philips.com/newscenter</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">About Schering AG
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Schering AG is a research-based pharmaceutical company. Its activities are focused on four business
areas: Gynecology&#038;Andrology, Oncology, Diagnostic Imaging as well as Specialized Therapeutics for
disabling diseases. As a global player with innovative products, Schering AG aims for leading
positions in specialized markets worldwide. With in-house R&#038;D and supported by an excellent global
network of external partners, Schering AG is securing a promising product pipeline. Using new
ideas, Schering AG aims to make a recognized contribution to medical progress and strives to
improve the quality of life: making medicine work.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Forward-looking statements
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This release may contain certain forward-looking statements with respect to the financial
condition, results of operations and business of Philips and certain of the plans and objectives of
Philips with respect to these items. By their nature, forward-looking statements involve risk and
uncertainty because they relate to events and depend on circumstances that will occur in the future
and there are many factors that could cause actual results and developments to differ materially
from those expressed or implied by these forward-looking statements.
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Philips and NEC to form joint venture in business communications
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Monday, November&nbsp;28, 2005
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Amsterdam, The Netherlands &#151; Today Royal Philips Electronics (NYSE: PHG, AEX: PHI) of The
Netherlands and NEC Corporation of Japan (NYSE:NIPNY) announced that they have signed a binding
Memorandum of Understanding (MoU) to form a joint venture in enterprise communications, by NEC
taking a majority share in Philips&#146; Business Communications unit (PBC). The new company will be
named &#147;NEC Philips Unified Solutions&#148;. Upon completion of the transaction, NEC will hold 60% and
Philips 40% of shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">By combining NEC&#146;s strong technology base and market position in Japan and North America, with
Philips&#146; strong market presence in Europe, NEC Philips Unified Solutions will be able to strengthen
its position in Europe in view of the fast technology changes in the modern telecom world.</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">
The agreement involves all Philips Business Communications&#146; activities and businesses in EMEA
(Europe, Middle-East and Africa), with a total workforce of approximately 900 people.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Philips and NEC have been cooperating closely since 2003 in a strategic partnership to jointly
develop and deploy IP technology in enterprise communications. Since then both parties have
leveraged their expertise to successfully address new opportunities in the IP communications
market, further developing customer base and channels to market.</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">
Kazuo Tsuzuki, Associate Senior Vice President of NEC&#146;s Enterprise Solutions Operations stated:
&#147;This joint venture will strengthen NEC&#146;s global position in the telecom market and we are
expecting to grow sales of UNIVERGE solutions to the global customers on top of the continued sales
of the Philips portfolio. It will support NEC&#146;s growth ambition by using the strong market position
of PBC in the European enterprise communications market. &#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Commenting on the agreement, Harrie Brunklaus, CEO of Philips Corporate Investments said: &#147;The
combined strengths of NEC and Philips will offer NEC Philips Unified Solutions unique opportunities
in developing a powerful portfolio of solutions and services, extending market reach and share of
the business communications market in Europe&#148;.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The transaction will be conditional upon regulatory approvals and is expected to be completed in
the second quarter of 2006.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For more information, please contact:<BR>
Jeannet Harpe<BR>
Philips Corporate Communications<BR>
Tel &#043;31 20 59 77 199<BR>
email <U>jeannet.harpe@philips.com</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Chris Shimizu<BR>
NEC Europe Ltd<BR>
Tel &#043;44 (0)20 8752 2794<BR>
email <U>chris.shimizu@uk.neceur.com</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">About Royal Philips Electronics
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is one of the world&#146;s biggest
electronics companies and Europe&#146;s largest, with sales of EUR 30.3&nbsp;billion in 2004. With activities
in the three interlocking domains of healthcare, lifestyle and technology and 161,100 employees in
more than 60 countries, it has market leadership positions in medical diagnostic imaging and
patient monitoring, color television sets, electric shavers, lighting and silicon system solutions.
News from Philips is located at <U>www.philips.com/newscenter</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">About NEC Corporation
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">NEC Corporation (NASDAQ: NIPNY) (FTSE: 6701q.l) is one of the world&#146;s leading providers of
Internet, broadband network and enterprise business solutions dedicated to meeting the specialized
needs of its diverse and global base of customers. Ranked as one of the world&#146;s top
patent-producing companies, NEC delivers tailored solutions in the key fields of computer,
networking and electron devices, by integrating its technical strengths in IT and Networks, and by
providing advanced semiconductor solutions through NEC Electronics Corporation. The NEC Group
employs more than 140,000 people worldwide and had net sales of 4,855&nbsp;billion yen (approx. $45
billion) in the fiscal year ended March&nbsp;2005. For additional information, please visit the NEC home
page at: <U>www.nec.com.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Forward-looking statements
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This release may contain certain forward-looking statements with respect to the financial
condition, results of operations and business of Philips and certain of the plans and objectives of
Philips with respect to these items. By their nature, forward-looking statements involve risk and
uncertainty because they relate to events and depend on circumstances that will occur in the future
and there are many factors that could cause actual results and developments to differ materially
from those expressed or implied by these forward-looking statements.
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Philips completes acquisition of Agilent&#146;s stake in Lumileds
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Tuesday, November&nbsp;29, 2005
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Amsterdam, The Netherlands &#151; Royal Philips Electronics (NYSE: PHG, AEX: PHI) announced today that
the transaction to acquire the shares of Agilent LED International in Lumileds Lighting
International B.V. for approximately US$ 950&nbsp;million, which was announced on August&nbsp;15, 2005, has
been completed, meaning that the shares of Agilent LED International in Lumileds Lighting
International B.V. have been transferred to Philips Lumileds Holding B.V.</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">
As a result of the transaction, Lumileds will be financially consolidated with immediate effect.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For further information, please contact:<BR>
Jeannet Harpe<BR>
Philips Corporate Communications<BR>
Tel &#043;31 20 59 77 199<BR>
email <U>jeannet.harpe@philips.com</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">About Royal Philips Electronics
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is one of the world&#146;s biggest
electronics companies and Europe&#146;s largest, with sales of EUR 30.3&nbsp;billion in 2004. With activities
in the three interlocking domains of healthcare, lifestyle and technology and 161,100 employees in
more than 60 countries, it has market leadership positions in medical diagnostic imaging and
patient monitoring, color television sets, electric shavers, lighting and silicon system solutions.
News from Philips is located at <U>www.philips.com/newscenter</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Forward-looking statements
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This release may contain certain forward-looking statements with respect to the financial
condition, results of operations and business of Philips and certain of the plans and objectives of
Philips with respect to these items. By their nature, forward-looking statements involve risk and
uncertainty because they relate to events and depend on circumstances that will occur in the future
and there are many factors that could cause actual results and developments to differ materially
from those expressed or implied by these forward-looking statements.
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Philips updates market on its Domestic Appliances and Personal Care (DAP)&nbsp;and its Lighting
businesses
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Wednesday, December&nbsp;07, 2005
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Amsterdam, The Netherlands, In a meeting with investors and financial analysts today, Royal Philips
Electronics (AEX: PHI, NYSE: PHG) will discuss how the company&#146;s Domestic Appliances and Personal
Care (DAP)&nbsp;and Lighting businesses are expected to build on their ongoing solid contribution to
profitable growth and value creation at Philips.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">DAP on track to becoming a significantly larger business
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Over the next five years, we expect DAP to become a substantially bigger and more valuable
division at Philips, with a long-term average annual organic growth rate of roughly 7%,&#148; Mr.&nbsp;Andrea
Ragnetti, CEO of Philips Domestic Appliances and Personal Care, said. &#147;Contributing to this growth
is our ongoing expansion into emerging markets as well as innovative products, like the
PerfectDraft home beer tap and the Senseo coffeemaker. We also anticipate that future activities in
the consumer health &#038; wellness market will add to growth,&#148; Mr.&nbsp;Ragnetti explained.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">At the meeting, Philips will reiterate the company is on track to maintaining a target margin on
income from operations of 15 to 16%. Ongoing investments in R&#038;D, strategic partnerships, plus
innovative marketing concepts &#151; such as the recently announced partnership deal to become Male
Shaving Partner of the WilliamsF1 (Formula One) team in 2006 &#151; are all contributing to solid
profitability in this business.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Lighting building on global leadership position to shape future of industry
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Lighting will also continue to fuel profitable growth at Philips for the foreseeable future. &#147;We&#146;ll
continue to build on our number one position in the global lighting market by boosting our presence
in emerging markets and shaping the future direction of the industry through our innovations in LCD
backlighting and presence in solid state lighting,&#148; Mr.&nbsp;Theo van Deursen, CEO of Philips Lighting
explained.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">With the completion of the acquisition of Agilent&#146;s stake in Lumileds, Philips will focus on
growing the Lumileds business and developing wider applications for high-power LED lighting. The
company will also aim to exploit the untapped environmental potential of new lighting technologies
- - such as the recently launched CosmoPolis white light system for outdoor lighting, which is more
energy efficient than traditional products and provides for greater safety on roads.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Overview of 2005/2006 accounting matters
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Analyst Day meeting will conclude with an overview by Gerard Ruizendaal, Philips&#146; Group
Controller, of specific accounting matters in 2005/2006 and their impact on Philips. These include
a further insight into &#147;Other Activities&#148;, the impact of changes in the accounting treatment of
Philips&#146; holding in Taiwan Semiconductor Manufacturing Corporation (TSMC), and an explanation of
the European Union Directive on Waste Electrical and Electronic Equipment (WEEE), which went into
effect on August&nbsp;13
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Jayson Otke
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Philips Corporate Communications<BR>
Tel &#043;31 20 5977215<BR>
email <U>jayson.otke@philips.com</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Forward-looking statements
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This release may contain certain forward-looking statements with respect to the financial
condition, results of operations and business of Philips and certain of the plans and objectives of
Philips with respect to these items. By their nature, forward-looking statements involve risk and
uncertainty because they relate to events and depend on circumstances that will occur in the future
and there are many factors that could cause actual results and developments to differ materially
from those expressed or implied by these forward-looking statements.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">About Royal Philips Electronics
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is one of the world&#146;s biggest
electronics companies and Europe&#146;s largest, with sales of EUR 30.3&nbsp;billion in 2004. With activities
in the three interlocking domains of healthcare, lifestyle and technology and 161,100 employees in
more than 60 countries, it has market leadership positions in medical diagnostic imaging and
patient monitoring, color television sets, electric shavers, lighting and silicon system solutions.
News from Philips is located at <U>www.philips.com/newscenter</U>
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Philips lowers its stake in LG.PHILIPS LCD
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Wednesday, December&nbsp;14, 2005
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Amsterdam, The Netherlands &#151; Royal Philips Electronics (AEX: PHI, NYSE: PHG) today announced it has
sold approximately 18&nbsp;million shares of common stock in LG.Philips LCD Co., Ltd. (&#147;LPL&#148;) (NYSE:
LPL, KRX: 034220). The transaction, which closed today, will provide Philips with gross proceeds of
approximately EUR 615&nbsp;million, and will result in a non-taxable gain of approximately EUR 210
million in the fourth quarter of 2005.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As a result of this transaction, Philips will hold approximately 117.6&nbsp;million shares in LPL,
resulting in a lowering of Philips&#146; holding in LPL from 37.9 to 32.9&nbsp;percent.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For further information, please contact:<BR>
Jeannet Harpe<BR>
Philips Corporate Communications<BR>
Tel &#043;31 20 59 77 199<BR>
email <U>jeannet.harpe@philips.com</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">About Royal Philips Electronics
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is one of the world&#146;s biggest
electronics companies and Europe&#146;s largest, with sales of EUR 30.3&nbsp;billion in 2004. With activities
in the three interlocking domains of healthcare, lifestyle and technology and 161,500 employees in
more than 60 countries, it has market leadership positions in medical diagnostic imaging and
patient monitoring, color television sets, electric shavers, lighting and silicon system solutions.
News from Philips is located at </I><U><I>www.philips.com/newscenter</I></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Forward-looking statements
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>This release may contain certain forward-looking statements with respect to the financial
condition, results of operations and business of Philips and certain of the plans and objectives of
Philips with respect to these items. By their nature, forward-looking statements involve risk and
uncertainty because they relate to events and depend on circumstances that will occur in the future
and there are many factors that could cause actual results and developments to differ materially
from those expressed or implied by these forward-looking statements.</I>
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>


<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Philips announces planned top management changes
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thursday, December&nbsp;15, 2005
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Amsterdam, The Netherlands &#151; Royal Philips Electronics (AEX: PHI, NYSE: PHG) today announced that
Philips&#146; Supervisory Board has decided to propose to the General Meeting of Shareholders on March
30, 2006, to appoint the current heads of the company&#146;s five product divisions as members of
Philips&#146; Board of Management, effective April&nbsp;1, 2006.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Philips&#146; five product divisions are headed by:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Mr.&nbsp;Jouko Karvinen (b. 1957, Finnish), CEO Philips Medical Systems</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Mr.&nbsp;Andrea Ragnetti (b. 1960, Italian), CEO Philips Domestic Appliances and
Personal Care, and Chief Marketing Officer, Royal Philips Electronics</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Mr.&nbsp;Rudy Provoost (b. 1959, Belgian), CEO Philips Consumer Electronics</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Mr.&nbsp;Theo van Deursen (b. 1946, Dutch), CEO Philips Lighting</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Mr.&nbsp;Frans van Houten (b. 1960, Dutch), CEO Philips Semiconductors</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In commenting on these appointments, Gerard Kleisterlee, President and CEO of Royal Electronics,
said, &#147;The current board members and I believe it&#146;s important we extend our circle to include the
heads of the company&#146;s five product divisions, as these colleagues play a crucial role in driving
profitable growth at Philips. We look forward to working together with them as a team to meet the
long-term strategic goals we&#146;ve set for the company.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Philips also announced that, as planned, Ad Huijser will retire from Philips&#146; Board of Management,
effective April&nbsp;1, 2006. Mr.&nbsp;Huijser combined his membership of the board with the role of Chief
Technology Officer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Ad Huijser has made a significant contribution to Philips during his 35-year career with the
company &#151; in particular overseeing the company&#146;s research activities that form the cornerstone of
the advanced technologies we bring to market. We&#146;ll miss his contribution on the board, and wish
him all the best for his retirement,&#148; Mr.&nbsp;Kleisterlee added.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In his role of Chief Technology Officer, Mr.&nbsp;Huijser will be succeeded by Rick Harwig (b. 1949,
Dutch), currently CEO of Philips Research. The appointment will take effect as of April&nbsp;1, 2006. In
his new capacity, Mr.&nbsp;Harwig will also be a member of the Group Management Committee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Upon the retirement of Mr.&nbsp;Huijser and upon receiving shareholder approval for the new board
appointments, there will be a total of eight members on Philips&#146; Board of Management.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Below is an overview of the current and new composition of Philips&#146; Board of Management and Group
Management Committee:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Current</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">From April 1, 2006</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Board of Management
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Board of Management</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Gerard Kleisterlee, President &#038; CEO
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Gerard Kleisterlee, President &#038; CEO</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Current</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">From April 1, 2006</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Pierre-Jean Sivignon, CFO
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Pierre-Jean Sivignon, CFO</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Gottfried Dutine
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Gottfried Dutine</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Ad Huijser (Technology)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Jouko Karvinen</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Andrea Ragnetti</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Rudy Provoost</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Theo van Deursen</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Frans van Houten</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Group Management Committee
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Group Management Committee</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">The members of the Board of Management
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The members of the Board of Management</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">plus:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">plus:</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Jouko Karvinen
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Arie Westerlaken (Legal)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Andrea Ragnetti
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Tjerk Hooghiemstra (HR)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Rudy Provoost
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Daniel Hartert (IT)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Theo van Deursen
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Barbara Kux (Procurement)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Frans van Houten
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Rick Harwig (Technology)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Arie Westerlaken (Legal)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Tjerk Hooghiemstra (HR)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Daniel Hartert (IT)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Barbara Kux (Procurement)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For further information, please contact:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Gerd G&#246;tz<BR>
Philips Corporate Communications<BR>
Tel &#043;31 20 59 77 213<BR>
email gerd.goetz@philips.com

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">About Royal Philips Electronics
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is one of the world&#146;s biggest
electronics companies and Europe&#146;s largest, with sales of EUR 30.3&nbsp;billion in 2004. With activities
in the three interlocking domains of healthcare, lifestyle and technology and 161,100 employees in
more than 60 countries, it has market leadership positions in medical diagnostic imaging and
patient monitoring, color television sets, electric shavers, lighting and silicon system solutions.
News from Philips is located at www.philips.com/newscenter
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Forward-looking statements
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This release may contain certain forward-looking statements with respect to the financial
condition, results of operations and business of Philips and certain of the plans and objectives of
Philips with respect to these items. By their nature, forward-looking statements involve risk and
uncertainty because they relate to events and depend on circumstances that will occur in the future
and there are many factors that could cause actual results and developments to differ materially
from those expressed or implied by these forward-looking statements.
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Philips to place its semiconductor business in a separate legal structure
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thursday, December&nbsp;15, 2005
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Amsterdam, The Netherlands &#151; Royal Philips Electronics (AEX: PHI, NYSE: PHG) today announced it
will start the process to create a separate legal structure for its Semiconductors business, giving
Philips flexibility to pursue strategic options for further strengthening the longer-term
performance of these activities.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In early 2005 Philips introduced a Business Renewal program to improve the Semiconductor division&#146;s
competitiveness and bring profitability through the cycle to between 5 and 15%, as well as to
increase market share in the Semiconductors division&#146;s four core businesses of Mobile &#038; Personal,
Home, Automotive &#038; identification, and Multi Market Semiconductors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;While we are pleased with the progress of the Business Renewal Program, we see opportunities to
further strengthen the activities and maximize shareholder value, with the step we announced today,
in an industry where scale matters,&#148; Gerard Kleisterlee, President and CEO of Royal Philips
Electronics, stated.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;This move will lead to increased flexibility for our Semiconductor business to invest, grow and
build scale in the competitive semiconductor market, while continuing to leverage the strengths of
Philips overall. This is good news for our customers and employees, &#147; said Frans van Houten, CEO of
Philips Semiconductors
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For further information, please contact:<BR>
Jayson Otke<BR>
Philips Corporate Communications<BR>
Tel &#043;31 20 5977215<BR>
email <U>jayson.otke@philips.com</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">About Royal Philips Electronics
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is one of the world&#146;s biggest
electronics companies and Europe&#146;s largest, with sales of EUR 30.3&nbsp;billion in 2004. With activities
in the three interlocking domains of healthcare, lifestyle and technology and 161,100 employees in
more than 60 countries, it has market leadership positions in medical diagnostic imaging and
patient monitoring, color television sets, electric shavers, lighting and silicon system solutions.
News from Philips is located at <U>www.philips.com/newscenter</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Forward-looking statements
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This release may contain certain forward-looking statements with respect to the financial
condition, results of operations and business of Philips and certain of the plans and objectives of
Philips with respect to these items. By their nature, forward-looking statements involve risk and
uncertainty because they relate to events and depend on circumstances that will occur in the future
and there are many factors that could cause actual results and developments to differ materially
from those expressed or implied by these forward-looking statements.
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Philips writes off its book value for LG.Philips Displays
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Wednesday, December&nbsp;21, 2005
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">One time non-cash impairment charges amount to approximately EUR 418&nbsp;million and cash charge to EUR
42&nbsp;million
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Amsterdam, the Netherlands &#151; The success of flat displays has increased the pressure on demand and
prices for Cathode Ray Tubes (CRT). As a consequence, LG.Philips Displays (LPD), the CRT
business-joint venture between Royal Philips Electronics (NYSE: PHG, AEX: PHI) and LG Electronics,
announced today impairment charges, which it will book in the fourth quarter of 2005.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Philips has reviewed the consequences of the announced impairment for the valuation of its
interests in LPD and will write off the remaining book value of approximately EUR 128&nbsp;million of
the investment. Philips will also pass through its income statement an accumulated negative
difference in currency translation of approximately EUR 290&nbsp;million related to its investment in
LPD, which will have no impact on Philips equity. Both impairment charges together amount to EUR
418&nbsp;million and are of a non-cash nature.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In addition Philips will take a cash charge of approximately EUR 42&nbsp;million associated with the
existing guarantee provided to LPDs banks.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">All amounts above will be reported under &#147;results related to unconsolidated companies&#148;. Future
results in LPDs financial statements will not negatively impact Philips equity, as Philips will not
inject further capital in LPD.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Philips will continue to be a key customer of LPD for its CRT requirements.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For further information, please contact:<BR>
Jeannet Harpe<BR>
Philips Corporate Communications<BR>
Tel &#043;31 20 59 77 199<BR>
email <U>jeannet.harpe@philips.com</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">About Royal Philips Electronics
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is one of the world&#146;s biggest
electronics companies and Europe&#146;s largest, with sales of EUR 30.3&nbsp;billion in 2004. With activities
in the three interlocking domains of healthcare, lifestyle and technology and 161,100 employees in
more than 60 countries, it has market leadership positions in medical diagnostic imaging and
patient monitoring, color television sets, electric shavers, lighting and silicon system solutions.
News from Philips is located at <U>www.philips.com/newscenter</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Forward-looking statements
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This release may contain certain forward-looking statements with respect to the financial
condition, results of operations and business of Philips and certain of the plans and objectives of
Philips with respect to these items. By their nature, forward-looking statements involve risk and
uncertainty because they relate to events and depend on circumstances that will occur in the future
and there are many factors that could cause actual results and developments to differ materially
from those expressed or implied by these forward-looking statements.
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Philips announces internal transfer of TSMC shares
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Wednesday, December&nbsp;28, 2005
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Amsterdam, the Netherlands &#151; Royal Philips Electronics (NYSE: PHG, AEX: PHI) announced today that
it has acquired from its fully owned subsidiary Philips Electronics Industries (Taiwan) Ltd (PEI)
approximately 1,928&nbsp;million shares of Taiwan Semiconductor Manufacturing Company Ltd (TSMC). As a
result PEI will no longer hold shares in TSMC and Philips is the sole holder of shares in TSMC held
within the Philips Group.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This transaction advanced the payment of approximately EUR 240&nbsp;million tax which otherwise would
have been due at the moment the shares would be sold to a third party. The transaction will
facilitate any future disposals by Philips. In the last offering of TSMC Philips agreed to a
lock-up until December&nbsp;31, 2006.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For further information, please contact:<BR>
Gerd G&#246;tz<BR>
Philips Corporate Communications<BR>
Tel &#043;31 20 59 77 217<BR>
email <U>gerd.goetz@philips.com</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">About Royal Philips Electronics
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is one of the world&#146;s biggest
electronics companies and Europe&#146;s largest, with sales of EUR 30.3&nbsp;billion in 2004. With activities
in the three interlocking domains of healthcare, lifestyle and technology and 161,100 employees in
more than 60 countries, it has market leadership positions in medical diagnostic imaging and
patient monitoring, color television sets, electric shavers, lighting and silicon system solutions.
News from Philips is located at <U>www.philips.com/newscenter</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Forward-looking statements
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This release may contain certain forward-looking statements with respect to the financial
condition, results of operations and business of Philips and certain of the plans and objectives of
Philips with respect to these items. By their nature, forward-looking statements involve risk and
uncertainty because they relate to events and depend on circumstances that will occur in the future
and there are many factors that could cause actual results and developments to differ materially
from those expressed or implied by these forward-looking statements.
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Philips transfers ownership of optical pick-up unit to Arima Devices
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Monday, January&nbsp;09, 2006
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Amsterdam, The Netherlands and Taipei, Taiwan &#151; Royal Philips Electronics (NYSE: PHG, AEX: PHI) and
Arima Devices, an affiliated company of Arima Computer Corp. (TSE: Arima-2381) announced today they
signed a share purchase agreement to transfer Philips&#146; optical pick-up (OPU)&nbsp;business unit to Arima
Devices. Philips will take an approximate 14% share in Arima Devices at the completion of the deal.
The OPU business unit produces optical pick up units for DVD recorders and PC DVD drives and is
part of Philips Optical Storage. No financial details were disclosed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The market for optical pick-up units for DVD recorders and PC DVD drives is maturing and economies
of scale are needed to remain competitive. Through the transfer to Arima Devices, the OPU business
unit will benefit from economies of scale. Arima Devices will benefit from acquired Philips&#146;
technology and expertise in DVD recording and Blu-ray Disc, which includes all patents generated by
the OPU business unit.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The OPU business unit employs approximately 740 people in Asia and 40 people in Europe. These
employees will be transferred to Arima Devices upon completion of the deal, which is expected to
close in Q1 2006.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For further information, please contact:<BR>
Jayson Otke<BR>
Philips Corporate Communications<BR>
Tel &#043;31 20 5977215<BR>
email <U>jayson.otke@philips.com</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Ruth Liaw<BR>
Arima Devices Corporation<BR>
Tel &#043;886 2 2749 5588

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">About Royal Philips Electronics
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is one of the world&#146;s biggest
electronics companies and Europe&#146;s largest, with sales of EUR 30.3&nbsp;billion in 2004. With activities
in the three interlocking domains of healthcare, lifestyle and technology and 161,100 employees in
more than 60 countries, it has market leadership positions in medical diagnostic imaging and
patient monitoring, color television sets, electric shavers, lighting and silicon system solutions.
News from Philips is located at <U>www.philips.com/newscenter</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Forward-looking statements
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This release may contain certain forward-looking statements with respect to the financial
condition, results of operations and business of Philips and certain of the plans and objectives of
Philips with respect to these items. By their nature, forward-looking statements involve risk and
uncertainty because they relate to events and depend on circumstances that will occur in the future
and there are many factors that could cause actual results and developments to differ materially
from those expressed or implied by these forward-looking statements.
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Philips to acquire personal emergency response company Lifeline Systems, Inc.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thursday, January&nbsp;19, 2006
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Acquisition of market leader in North America positions Philips to enter the home healthcare market
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Amsterdam, The Netherlands and Framingham, Massachusetts &#151; Royal Philips Electronics (NYSE:PHG,
AEX:PHI) announced today that they have signed a definitive merger agreement with Lifeline Systems,
Inc. (NASDAQ: LIFE) under which Philips will acquire Lifeline, a leader in personal emergency
response services. Philips has agreed to acquire Lifeline for USD 47.75 per share or a total equity
value of USD 750&nbsp;million (equaling an aggregate value of USD 690&nbsp;million net of USD 60&nbsp;million cash
and cash equivalents) in a transaction that has been unanimously approved by the Board of Directors
of Lifeline. Completion of the transaction is subject to the terms and conditions of the merger
agreement, which contains customary closing conditions and is subject to the approval of Lifeline&#146;s
shareholders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;The acquisition of Lifeline is an important step on our roadmap for growth in healthcare,&#148; says
Gerard Kleisterlee, President and CEO of Royal Philips Electronics. &#147;By targeting seniors and other
people who want to continue living independently and exerting more control over their health and
lifestyle,&#148; he added, &#147;we aim to become a global player in the evolving home healthcare market.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The aging of the population provides strong underlying market growth for home healthcare solutions
such as those offered by Lifeline. Today, seniors represent around 15% of the population in the
developed world and are expected to almost double in size over the next 25&nbsp;years. At the same time
they are becoming increasingly active in managing their own health and wellness. Personal response
services are already the largest category of home healthcare solutions purchased out-of-pocket by
older adults and their caregivers. Still, penetration in the age group 65&nbsp;years and older is just
2-3%, allowing for significant future growth.</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">
Lifeline&#146;s revenues in 2005 are expected to be approximately USD 150&nbsp;million, representing a 15%
increase over 2004. A large part of the revenues are recurring in nature. Lifeline&#146;s operating
margins in 2005 are expected to be approximately 15%. The company has a broad market presence in
the United States and Canada. The company markets its services through a network of more than 2,500
hospitals and other healthcare providers and serves a subscriber base of nearly 470,000.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Lifeline&#146;s twenty-four hours a day service gives independently minded seniors the confidence to
maintain an active life at home, knowing if they suddenly need help, they can send an alert to a
monitoring center that indicates that they need assistance. Two-way communication allows a caring
and professionally trained operator &#151; who has instant access to the pertinent health history and
personal profile of the caller &#151; to establish the nature of the problem. Appropriate action can
then be taken, including notifying a neighbor or family member, or summoning emergency services.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Our many years of understanding consumers and their needs have led us to identify &#145;healthcare at
home&#146; as a key sector for us,&#148; stated Ivo Lurvink, CEO of Philips Consumer Health &#038; Wellness.
&#147;Lifeline is a market-leader that offers us a platform for other home healthcare products and
services. As such it complements our existing presence in
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">telemedicine, showcased in Motiva, our advanced interactive healthcare system. We believe our
brand, global presence, technology and innovation capabilities will accelerate the growth of the
company and we&#146;re very much looking forward to working with their experienced management team and
talented employees.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Lifeline President and CEO, Ron Feinstein said: &#147; Philips&#146; acquisition of Lifeline represents the
next phase in the continued evolution and growth of our company. This combination of two industry
leaders opens up numerous product and technology synergies, as well as growth opportunities
designed to both further and broaden Lifeline&#146;s founding mission of providing personal emergency
response and support services to the at-risk elderly and their families to enhance their
independence and quality of life.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For further information, please contact:<BR>
Jeannet Harpe<BR>
Philips Corporate Communications<BR>
Tel &#043;31 20 59 77 199<BR>
email <U>jeannet.harpe@philips.com</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">About Royal Philips Electronics
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is one of the world&#146;s biggest
electronics companies and Europe&#146;s largest, with sales of EUR 30.3&nbsp;billion in 2004. With activities
in the three interlocking domains of healthcare, lifestyle and technology and 161,100 employees in
more than 60 countries, it has market leadership positions in medical diagnostic imaging and
patient monitoring, color television sets, electric shavers, lighting and silicon system solutions.
News from Philips is located at <U>www.philips.com/newscenter</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">About Lifeline
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Established in 1974, Lifeline is the leading provider of personal response services and emergency
call systems in the United States and Canada. As of September&nbsp;30, 2005, the company expects to
report, as per 31 December&nbsp;2005, it supported nearly 470,000 subscribers from its response centers
in Massachusetts, Ontario and Quebec. Lifeline also supplies emergency response equipment and
services to owners and developers of independent and assisted living and continuing care retirement
communities across North America. To people who live alone or in senior living communities, as well
as their caregivers, the company provides reassurance and peace of mind with dedicated,
well-trained people, advanced technology and a nationwide support structure designed to achieve
service excellence. The company is committed to affording Lifeline subscribers and senior living
residents the dignity, privacy and respect to which they are entitled. For more information about
Lifeline Systems, visit: <U>www.lifelinesys.com.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Forward-looking statements
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This release may contain certain forward-looking statements with respect to the financial
condition, results of operations and business of Philips and certain of the plans and objectives of
Philips with respect to these items. By their nature, forward-looking statements involve risk and
uncertainty because they relate to events and depend on circumstances that will occur in the future
and there are many factors that could cause actual results and developments to differ materially
from those expressed or implied by these forward-looking statements.
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>u49809u4980901.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 u49809u4980901.gif
M1TE&.#EAE``K`-4@`']_?^_O[P\/#U]?7\_/S]_?WY^?G\#`P"\O+T]/3Q\?
M'X^/CV]O;Z^OK_#P\-#0T$!`0.#@X&!@8%!04)"0D"`@('!P<*"@H!`0$#`P
M,+"PL+^_OS\_/X"`@/___P```/___P``````````````````````````````
M````````````````````````````````````````````````````````````
M`````````````````````````````````"'Y!`$``"``+`````"4`"L```;_
M0)!0Z#ATCLBD<LEL.I_0J'1*K5XBPVS'HG%DO^#P\(+YF,_HM'K-;KO?\+@\
MW<DZ)@^Q?M^9^_^`@8)L$T027GN)8&6#C8Z/CGD26(J50@>0F9J;;1T/=9:6
MF)RDI8]'B*&*HV\"`P``')D"<QRRIG.T9T>JHG`#'L'!!`J.``USP;AR"05H
MO+VK;PD>`;$)&QX$C1P>&\D>RW'*NZ#1>ZQL!1X):`0>`PH``V8<L68,&QL&
M"!_R`P/V>2@`H%B"!AL6T/H7L)L'>[?^H6&X@8.`!1L:M/OP"@&`#0!T?<B7
M4!<L!`F#W?L`[9R>=&H4#$P#S$"W;Q\`>`#P88&V_W<!!'0+($P8!V`!WA$0
M6BT8`J?>S.AD@&9H,`Y*B=++5H#`.ISONE8K%HQH49XLS;D,`S/-3;?>WN;<
MV1/9AW>V@C$8(#=`T+D,'.[]H&P=K7?%S@@>P("N`+\?LB$3L.YHU)$>#!#.
MG$!FN')K7[J1JSCN99UH$WR\VLW9A[>M81GPT*#U&66-XUTN[3J;`5CK4#Z4
MNK,!.S,"JFU.3,Y,R]!?VJ))'L",`ED^%\A%_<%X@`:5Y<*NID^?]MW*9!H`
M1J_JY6P$RF\0?@MUMEN;\YMIGA8ZVS?9\.13`T3EA9-/`#RU360/B1>53*XI
M4`QIY&SPG0<BU7/9;.W=DO\-51]PB*`9"NIG8G]B'#!!&1A,<$`8&G3PXA#2
MH8$`42"]HXT_P0!$5(+5J,;:9:UQ(-P"S32(WF?`T*:&@P4DX-,WV0200&-!
M/17```F\TTYSP21PRW-97+#&!5\\X%P6-=J8C3!$+36;-B/.64!VI.F8H(X>
M+/#:DLB%^>1N.@530#^^E=5>DM6`V)Q/EY$IA)H?3(!%!!.8,:,0&:Q)HQS7
MR2*``3@A@-\9IKYA"ZH6P4&='$+U8\9]UV7X6JMLF*J+I"!(\`$$7T#P@01#
M].'I)>)LLIIF@=P'":\5?$#!%Q1\4,&D'V30J5IM)@O(.QO8.@=&LCK"JZ;1
MF0'_@@.=/B`LM][&*R^*7Z#+IKH6L`3"N_?.ZR\NT$I+K;64'A$M!.8<<.J_
M##_"`:^^`MOK),)*4".-&[37\,:"W,@KI9:2<<8#$21Q<,+9@"2F+2RW[/++
M,,<L\\PTUVSSS?88YP&O()BI1@6;"L$OQD45;?312">M]-),-^WTTSR#H"(C
M$PC[@0996``!FD0_[?778(<M-M)1A]%!!JN\B;0^8[>-=`$;\$F>W$@'P'91
M\15M]SI%P6W6SFKY=XG:1^_G]N$]*D:4`;IP\+?1S/H#E*P"Z!AYDU8B-V?9
M+AU`N-&&(]ZVG_+TTQ@M#/33I-';",!`.T_1<R6/S@B0_V"('E#%`57)`2YX
M=)\7;;A&'!RD$@!;VA/,;WS#,@Q?'$#Z&P$)O,(W2(1391PR'!2P5U0.0>ZZ
M<H09CBA/.G&/X6/P,+`.Y^=XKO1^R%PWZV?VSR7+F_L5((!0M-")J#X0P*O<
M!6F:65T!Z*$SI3E#`=MPB(#:P;_*O<9N?X-?-.27M/W89!U4T8D9C*.9;NR/
M'-XPGOID@1+-:(E'1UO*!_AV',<M+0#](-6?Z'(/_D7&'[K87.`$QT&D&8X`
M`$A``0WW#1,RZ#.&6D`\_B2+.;6C`)HI5-%D.*=A^.DI2<,A1\"GDIR<\#,X
MF=T!-=B+(@J#`&;9CY]N-1<F4O_QB?L)UP<0T`XGODDSZYDAZ_[7Q:*<T6AB
M;`P9Z:(=/%H0C"$$7"I^Y\;AS*8ZR:'%C^JXF28.ITK[:8=Q/'G&H"@1C$4)
M0#'X9``%-*D8P1,4I,A1H,CPI#&>A&$D.U"RWW5-&'ZRG2R`08L%,(Z3P?`D
M/3BP@8T<9P`-Z(<?A=&>65+3+:YY'8_05Y3(W49V5($0`6_'H=<P@!;O`X$%
M*/&["%BS&OBQ(;-LMT<HDE&&(=H//AE0C``<TBZ/"X:MNG',/;Z#F\+8"!JJ
M03G+G0%SMQC50*;E@$/X$@2KZUO<-!K0NFV`AF7YJ-*008VGV4UN#'AGTO*6
M2I'BS4),P;#HNB"0A]\]P`*B:QM!BE%(L"W@1CF%G`6^L`4*'&"2+GG``!;0
GT:#>$!]N`ZE3US.M,$3`"%7(JE:WRM6N>E5&%PVK6,=*5B$$`0`[
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>u49809u4980902.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 u49809u4980902.gif
M1TE&.#EA_0"T`-4``+"PL)B8F.CHZ-34U-K:VL[.SJ^OK[R\O.^B<,+"PH.#
MJ[:VMJJJJK]R0("`@*2DI(R,C,?'QX:&AN?!J)*2DG)RC<'!SIZ>GJFIJ9>7
MEZ.CH]/3T\W-S;6UM;N[N^?GYWU]I>^B;^.69-G9V;>1>.?!IYV=G>/0Q,C(
MTN'8TK.@E(&!E<C(R-_?WV5EFO]E`.#@X```````````````````````````
M`````````````````````````````````"'Y!```````+`````#]`+0```;_
M0)AP2"P:C\BD<LEL.I_0J'1*K5JOV*QVR^UZO^"P>$PNF\_HM'K-[AX`!\*S
M($<.6(7"]CYH+^5T7W4L1P1Z,(-^@A07``$4=4P!A$<#$@&.6I:3BD@/A`R'
M71!"`4<%##`%%Z6=70$+0XU#!2Q]0@2VI;:41"RFO[2]2G>10L%"`X?%1+F`
MHLVZ0[FW0K5%+(/9NT;7PDBYP\PP#DW(1-ZXTJY-!!+->@04%`$."3`)EQ*I
M`8\4$M58.!@8C$``"!0@%%B0"D:`A@H90*AW[]A`!RP20AC`0-\!&([F46"0
ML.&0`_I299PHX:/#B0H=TGM0X-*_`0`(<G+PX"`%_R$/$%(H1P2E3R$=ZQVH
M5ZX<@UBJ*`0;:(KHP8-Z\@78Q\Z<*2,)6.$S%>`C@0<.Q5Z`>@R8J05BX5H2
M@C`JN3XLV,((QD("(`B`W@'X"0,"`$1$ATB(IU"@GIHPX`J1C`DI5`:'.>TT
M"P$/X,B)A5`X)+7`YXSDA)0S#70!WZ_E)$=F5181VJY+SA49D,"1*0`2+L1Q
M2`G`X2&OB0\I=R$!BP=^G[Y\4!&Y6R'&ATS*KCRU]2'&4>\*\,!XSNZJWAA6
MOE,["^[>?3&4\/[X<M5T]0!,GIJ\^7+`"6<,;I604A0^P1GWU7,0^,4)2/;M
M==V#J1U0W@'-;20$AI?X<O\=A.YQ]V!HYX3W%7'^F=>=1.65QQXAB6UG7V@P
MS/.45/#AYQT`#"1P'3+EI,@=@WX1J(14)Y%5T0*F/%"'5`_FF!QF0B3P$P$3
M#0`7*QSA0N*'/GI)@(B4A.;.D\X5>2:5,'0Y8AVS:`:C>V'N12)A6+)09XT#
M$$64)0]\Q)]3QW7II&C#&(F-!`"\1Q](%```G2D22?I3E!$F!VA'%4&GB@,N
MT>.(21*6*AHF$*1"IHY#5/K(7A)$NAZ@`*SW8`"-;'78!1<,T!XWC-1JYCZU
M/BHJ>3!PE=@_<@13TT?ET+I>I0\0IB@2!?1$TTEPX+0A``O(<<`M+(CST0`N
M$;#_``#5%.`2`'6H"\=NY[KT+27E;GA+A,?,*^%[O<A+R;BXK)N`NVTV2K!]
M!!/P1I^[&5>`<]^Z])ZWQ[B$[K<@%=PHM^%>*[(BNGU10`!R`"#6R"RW_$7)
M7W3D0`#0N&SSS3CGK//.//>\Q1OF!6V`>4,#8$#11QM7M-%*(TWTTT8[K334
M23,]==1-7VUUU5Q3+;756W^]--)B9XTUV&2;/;;:4(>M]=IGP\UUV7%_'72.
M/N>MMR(MM+#WWX`'+OC@1A(PX&Y]#%`-$XH3[O@9?D]A>.25',;N$PPL_OCF
M6E!>A.=,E*L!=Z,_L'0+QAV`@9,!8)"`Z800H`%F`42`_P\&&HR)>J`8\)A`
M[S#T+83PP0\1.?&4)S_\\<8O[WSQPS^/?//!,Q_]]=-?#WWVVQ]O???24\^]
M\M5K3S[W4PA?KN78=:RBBNM#2-U>A'!77BB6LP]`M@P<SOG_78C?<?27'?,D
M('/Y8T$J.-*;`28@#H'*SB>HTYN:`?""6C!<XI+1IC8UKG&Z2%PNAG"'#AXC
M<8KK@S-4H3D,NO"%,!0<^IH`NAC:T`PUS`+RON<]\XF/AS_T8?F&>+X>0@]\
M1RRB$)&H1"(&T8G8`V(4EVC$)H[/"#F,`O%NR$6?9;&+8(3"%\-(QDZ,T0IG
M+*,:M?C$-;IQ#%L$0QK?J,8XIO]OCE0,WQ2AR$0I7G&/5O1C%9](/B92SY"`
M%*0>$9G$1>)Q"W:D(QTC*<E*\NR1ELSDYPJQC6.$\!`%:*$FW?A'<##@.=9P
MC3(`D(`%+*""AQRE+`N1,B%XH'<%&.!A4'<$*QYRD$+\XPZ#"4Q&^I*8R.1C
M%1792$#^TI'22][WKH`P$W+GFD4X0+FVR<UN>O.;X`RG.,=)SG*:\YSH3*<Z
MU\G.;UKP"`FH3@)2=H`-H.XP&R/"B6;)SS:5YS#S-,X`QK2_7,*K"/OL)PP+
MB<4E5,<)"56H#4&'R2$2X7P9D.CF*DJ&$]50F,5<9C(+&=)HCI29)(6F,Q-Y
MTI$^TZ+_#?5#1,L'4I4.LYFE+"D148K2E^;4ICJ]Z3%QRE%(CG&F&@5@43<)
M!:0F%7!G])P1M^#4IUIU>:98ZE4)1,DPY#"."=7J5J_554@F(:R]E*(Q"4E(
MGKKTK41M:5R;N=:5]G&)BG*J6,=*UEB"H:I36)PRK'&+//#5JU1((R8!&P46
M&"AA#SQ`;[34RH<>5HY[K0)CH?`&$KXRGJULG+HN.X2#<8L0;\B&Q'I9A:)*
MU7B1\VAF[9.75K[2-=CQWU7AT@O]@21D>AD94M&7TN`98'@A&QHB.C"F$;AU
MKC6EJT[K*E2VPK6)$:!$"\IC@.T:S0-TT(!?GU!6JKJA3720_YA!"?HQTM+/
M&O?87WQA<(#.,N&K:-BL%`;KWM`18J"G[%^`6RE9-*PP>/SE;RB-H-_^"D(.
M]Q@A(BBQ8-8B0;&F1*4J6+D`#G#XE?N[Z%<RZV`JO),-ANN8BJ_979!X#JT7
M+K&BYEA>6KP+.[ILGS[#F5UN]KB=0`ZRD(=,Y")_,P(_]G$Y.9#&>)ZD#]T"
M43ZUD[ZV7M>ZT+4R='MZ9;N*=,MP;:T2XCB`?^*#H.DMJ'$&U&`9LXS$5:JQ
M/MV<LTC".:VPO5X`/CI5.J-!SN3-;/;V;#[\^ED)%DBTHA?-Z$8[NM$HN"B>
MM1<&C]X7!@AX@:8WS>E.>_K3GAZE"_]&3>I2F_K4J#ZU`B2-18;^50J9!K6L
M9QWJZK(TRUVF;E#56LQ4^_K7J%XU&18+:UH;F]:B!K:R?RWLF':ASP@M]K&G
M'6I-+OO:P;X"H)?PXDEOL6^QIK:X7Y!L;)O;!:NF\31UJ,]'@GO<XR[WN:_=
M["1`^]7/6T*XX7UL><];V?5.`R7;+(1]\YO6T4VX3WD-U(8K4Z7!^S>V`W[G
M^^:0X)@^^+03SF5<>_S+@<QU"R1.;VW#.;;<-H+!-0YJ?Y,\U0'/<^?6?80&
M"V_E+*]V)E\.<"ELFPI99742<)YS3KN<YZ9N]A=_C@6,$[WHFCXZTDD=<\A=
M7-I0_[34IX[_;C0:M151>#K4=RK7H9H=RR!'.Y:Y#G-[7SH)PP@/?<.E+GM1
M.<:4%GO1MS[UJML;C[5"CNWPH5IXZ2G:2!QZUEMN;;:K>H;Y?@+&(F.<WN!8
MQW>'@MYSSG>D*Z"\3`>/$:YYG.,:;Q+G1+((%O]I([O^]4%V_*E!H$X]0![S
M!Z##*PN?"\LZG?4ZMZ3LDQZ&@<U=7`L80=T9C'7@:WJZNW:XPD4N?>8-O]1^
MOS,+B#UFT&V>Y9WGN=_QWMHT[M/51/B^QL/_\L]'7N98Z"KQ]DSS3:K_X.PG
MN?MAVH;?.W_3^2=QX\=M]><$5Q=V_P>`C7=]7==J97"`FI>`4;>`_]=7=:&7
M<O!7<V\W!/?';V0'9A^G=EYF4B%H5PPX:@-(@E^`<A9V!!T(;P'X;TIW814G
M";>G<A)(;A0X?"FX!FWF-R\8;SLH>Q885>^G1:#S@QDG@3$X;T6(@4@H"<WG
M?$UX;CTX7N1E@"T`6'84A.+&<=3W<"/X@2%7@A%W@CU8@_R'55,(?%5H;O6F
MAE-@:92&@TPXA(YWA7"$>`:XA`GXAA-'?BTH:'SX!%Y(;8!8<E['!2V04=U7
M!(<X;8FX;/OG!?8Q`D.37@:0!VM6B$X0B?UV=F-H:W=EAM#G<#!P@@U(0U#0
M$T\&$N-R3VUB=P[1AJQGBM57=B)85[HV!/^J&(=<8!\Y!B(=0SET>$07!80Y
M.(D]YW95((R7!R*\M&/IM'H2"'O8F(WFI(JTETZV=X0ZMDJME$NV!4MS-F9V
M^(=XR'9Z&%A5@EY]HV`MY'_JN'-H&&A3P`%10(__9TF1\XO(2%=GP(]42(II
M-X:\&'UB^%-K")#HN()G]5(-!8K&QHS`UHY"1V+=]I#IMXSKR'48*9$;Z&Q;
M"(4<Z)'VR(!*-T9RJ($(>(<I68&/F`8$Z8:39#P.^3E^<X%]B`0C%E7**(&G
MN)`*.7VX2)2]E).(U50D64,4B6RND&*=E&+LH)1:*'2)M9$TF([]Z`K;H4!M
M0B&=X)#;QI-K^#G_-7F+G=`C>?$>^$`Q57F/%C>0MKAXG9![Y1)@S9(H:D`Y
M5NF5^/B4LW:7DI(=II4O?N"7<LE4K%AE/HF5B@>3BI`'O0$5AB5P2/"7<UEI
M`;D]7%F01=EQHMB+2"F02D"6D\9N%L:"$2B9E82:[)"6=OF1?=>392";65=&
M4N4YFLE&8Z8BF-$!',%*S'>5@BEK%LEL.MF8G6D$F($'\14R_%*++UF/PK>8
M8O`1"Z!-Q#B=J*=DXF2-"=AC2%8N/W:>YDF>VT2>[&F>ZYF>\,D"Z"F?ZNF>
M]EF>\OF>]UF?VWB"W0A.2;9-)Z8$A%!;OU5+GKB<D(B28I`"$_"@$!JA_Q(Z
MH10ZH2?`B)DIEXJU5.L"`"V`&0O`$090$<:(A2[(H&$P`3F(`/%'?KTI4V+D
MAUTY!BHJ@2Q*!B]JF^95G3,J!C6:@#<Z!IIIA.5G;X[(D06'HF#PH_\7I&+P
MBZ#7HAE8G,[VF6YHD"3H2TSJ?"&@D&O855#:DD!7E[F)I63(5EL*?%V*BEO)
M:CFJH!AZ1#_YB4KZ!6G*>D[JF$N@E*ZEFM39A\?)>#2ZHF60HS26A5+(HU1(
M!G>Z>'G:.45@J,[H!8WH;=Y7IU[0J%GWJ#,9!5#:EUE4J8IJDX-JHV*TDQ3U
M16^:C'H*460Z=K<VFL=3`H1ZD%9@E6+Z!,>H;_^8V@6:"G6<^G4OBD=[!5:(
M&JA:QZB$6J2,Z8O8&:-UB*01.:D=Z9I+NJQ"BH8;BD-'"ID+:JUVBJU/^JQ_
M]IBCJI:E"J2GVJ9'P*>`>:YV*:L-]ZM%%P)MU)R>2J[@F%@;N*MXAJS!EZ+B
M"JV3.G+ZBJ05M46=)*>!V:M<0*\Y%ZQ2>H8J:996<$JWD:!PFJ3@FJD#"P:K
MBJ]6X*'91:7>6JW6*;"F2D,L>9H'2P:'@9CZ=#=:0[,`0`(-D+,ZN[,\V[,^
MV[,V&[1".[3FH0(_>[1(Z[,D0+1I0[1"6P%0&[52.[546[54NP)W4S5#6Z5.
M<!@$4P2U(&0!VDYCJXW_9FN?YH2?/E:V9WMD;ANM4%"9<"NR)BH&HFBF>,MP
M?"1)]^9SZ->"S+E1TLJ1AN:W)ZLS%ANX2?6W_$JIJ<FJ?GJX2@64!%NYD[N!
M7Y6K[)"X1[`!"SL`]F0-AR`-++`!JB"S@HA#J0L%ZV!";4()\C@-NF4&)71"
MOD`N<B!AY2)*'!6J2F`4BR$:`P0!J4(2&V&\`S`1A#:WT7H^$^N;1Y0M+'``
M#9$`)G`,($:.K@1+6\B73)6W>10\&*!--,%*!G`+&*!`&Y"^#[!="L0!KA&Z
MI@FX51"\DN$(QS$N8>$`!(`9_.N_C<*XS"NY,E>LA<LPRM`!IK<OPW@8KL.7
M_YS;!%.&3Y?300<3LQ\#!Y@A"IEKN`H:.43Q"Z@`'P4P&@!R'BK3"`#A@&:$
M!::W%Y9G'RV0>PV,E]Y;!C*+3Z\T#>P#,""Q+Y;;=`\0%`#@`0=A(*9Q,!#@
M`1EP`!"P%"KC6`/*KE_7K/N*!!V@>^7K"+>0Q?35!\J%+F_@(G0+!FCQ0/,R
M6JH`%5X[O2`Q3RJFHUD@.QGP`&)17]C1#Z'P$*K`Q_AK,\(3>F_```]P"RYQ
M0'!`4!RP7J+;!CC!(_O3B3#P3[P!+I074!4L9B;I@*(4N:K;N"-)K3*$JNL:
M?PFKN%<,RBPK/IM<QEO)D&`(@DWT=U0,R*DI9WT[8SM[0Z2(RIBN)4U<N[I*
M(`#$7,S&?,S(G,S&_`'*W,S._,S(_`',#,W47,W6?,W8G,W:+`#3O,W>;,Q!
#```[
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>u49809u4980903.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 u49809u4980903.gif
M1TE&.#EA!0&Z`-4``,C(R)B8F+"PL/#P\.CHZ-K:VN^B<,[.SM34U)>7E[:V
MMN?!J+R\O)*2DIZ>GM]K(,+"PL'!SJ2DI*JJJH:&AHR,C&MKD_>#.("`@,?'
MQZ^OK^^B;ZFIJ>?GY^?!I]G9V;N[N\W-S>.69-6OEJ^OO-.9=*.CHYV=G;6U
MM=/3T\VPGN7(MK"PNM_?WV5EFO]E`.#@X```````````````````````````
M`````````````````````````````````"'Y!```````+``````%`;H```;_
MP(%P2"P:C\BD<LEL.I_0J'1*K5J1L*QVR^UZO^"P>$PNF\_HM'K-;KO?\+A\
M3J_;[_B\?L_O^_^`@8*#A&<"%1@4$@6%6@P,,`4(7P<3@A,'E5D'C9V$`0V<
M"!(-G@B3`0!?``&"J06<K)ZS?Q`4C%D%%9P'``*3"`*_N0P"$%H0`@RX6[[+
M6<'&FP7%DS"G"`T*C`4*RHRR7,60,`"XI[#!Y%GCN0?!VXX"K.:<"J&P6@<%
MD@SQOO$B%3M&JZ`8"1*^4&@P`8"M"1,H'`O@X)``&`(:"`C0:LN$"AM+/;0(
M`Y2$B,>$,5CX3M'&5N&T.`CP$J.#:[L`5-`(*LO,_YHZ-3JX!:,!S0H4`,AJ
M0*%AQY)**3A8I`"D!*(421K<VH5F+J4`)F'@5)0@A%)CKZD*H(#=E@)$84A`
MH("@K``)RY42!K7<Q2P8RCV%`>%I@(D*V);#8.UP82V'`<1MX+!C`0Q*86J&
M'#577`&6TB)0Q;5T%J\P#G"D<#$PX"V!!6"H,&&2+46DL\0D-B$`A5:IM,2^
M&)SP1D2"MQSB&`#D-:FZGPI;SA%DS%1\3V=.?GU[N=\<C6*<7=NTZ7M<O+J&
M@0'796B)*Q"3P%A+3%0.%%3N&VEXWXSS(!#8;@)(`%98WY627!83"&,@6*,9
MYHLEVLEBH83A`$`96&31U?^<>:4A0,$Z!6C$GDQMP:"``]EP0T%19(6R!05D
M!<!`>UE(`-Q-*B;$5W"'L3/@8`=4P`UE<!U0T6*<Z()`D4=Z!Q64J6%V83E&
MII943#3F^$L#+H)8V@&_@?8;)^L5V4`#N\CUVX@PW-A<7H[\5D%"$377$R@[
M@8G111)4X!`&H`30WFX8V9G0DKHHA91OY`B@Z()]*?#FAJT(F)">:TII"RA^
M7@6IF*45D(P`9)7#A5);]&*-6JF^!4"JKJJ:2B9:G*(;,+.FQD^LT"!80&Y/
MLC(L,VI9D\\TP<+R:[";J++/LE_%6BNIV`)2G!Z(9NOMMVY@PH<FX)9K[KGH
MIJO_[KKLFJ8:<_`&D`!'"<PKK[WVRLM<OOCV2R^^^P9,[[\$WSOPP?H>7&_!
M_`J<\,(&1]PPPOY*###%`D.LL<,3:USQQ`D__/'%(7><;[R#M:ORRH"TP/++
M,,<L\\PTUVPS'"ZOD=LJ%\US!HLW!TU'SBWD;`8#+7`@;@L0*<#!`<6T\(W2
MW6CPB``@;,+!/`FD$*?5F81P@#(@*'/`UED0K7;:6ACM=MIKPU`TVW3+W3;<
M>,M-]-UUQSVWW7WS_??@>P=.-^%YOVTXXH`WKOC?;.1\D25_4?YGS\+P`]KE
M9%D"@2^G973@Y#!,`('I0J<^A^08M=XZYI@KD(DW&$&`_P"/$W0S=H[E.*0?
MH'*%Y;/JQ,.ARO&ZJ0I6[RJV=7PPI!4@#6ECVV.[M*AVLT[QW'?OO>J0?R]^
M'I`KWD;XXZ>?AM%NL!^&^8_[7;CC@LMO./UZ)\XW_HP/OG_\B9L?_`)X/P#F
M[X`#/)S]\-<']*GO@;1P(`0G^`7W#8V"&,R@!LW5OPUZL`X65$,(M\"^!`*N
M?P+\'P$9:,`.%G"%_GLA`E.XN`6:T(8TY)_?]G>'$590A0J$(1!/N$,9HE"&
M1!2B$8O(0ACFL(5,3*`+&_<''WXP?1*4@Q6OR$6<=?&+)(P;%<%(1C%LL0QG
M/.`8RQ@SQEWPAUZ0H@V'B$,DSO]QB4ILX@SUAT<$TM&)=@3D"ME(R-*DL9"(
M3*0&W>;#0RKR@^'+XOOB6+]'OLR1@PAA'?681#_V<8IRS&,H/:G'(W)RDS<<
M9!<DV8@8FC*5>SRE(&'YRC_&DI9W+&4N1\E*/F#2DC7K)1F$"4R;;;%\\RNF
M,D'(PV6"BYBKTV0RG7DN"4*S?688(13YJ$M1`A&4W]QE.+U90V[R,HI#+-<U
MJ0FB\K'SBHTT7S/?^<Y?_I*>$03#&<_(@$QPA`&W`UK?DGE/?&;R?&(@DR](
M8Z`,4&B-JXQC00U:K@)4!``.F,EC2A(Y.-;RD^@L)RG/:<YQWM*6X!1I2AD8
MT55.,PS_#NC-7PK`D=-T84,'RJE.=\K3GOKTIT`-JE"'2M2B&O6H2#TJL!(*
M``DPP*D*F(`WLK.%E,GA'9N8!%B015$0A:4;;0$K5SE:!X@X(!D9/54#7M55
M;%9PGR+<7P*^V09_=*05NVOKRJSZ5A**`0`3*,946N&`L>KU#<2<J!CX*E%]
MXHT!'_A```X@MH3,5:4AU2$Y-3M2DZYTFYW%+!+SIL4W,-8-A6D`!!A@E-'\
MY;`-5&P93@M;TSA0MG"L&V1J:]O&BG"B)>2H/$F+6]YF<VC%W2TES9A<X_YV
MN;J=`VV=ZXGFRF&Z7[B`=K?+W>YZ][O@7<%)01K(6SZQDN/M_V9H.;O25HX!
MNUYX@7SG2]_ZVO>^^%T`=8?9PVG"UZ_X#;"``ZQ?V&91MLV][/O>-N`&.[C`
M^YUG;JVK!05']PL.SC"!]^O(X=+AM#[4L(CK"^$(N]>F:1BQBE^P`%R65+3K
M!6T,U3MCDL:8"]>D,']1C(85C[C%*,VLC,\;Q/3:V,5&EC#YXM"*0\[-QR(N
M,2*U%PD%0*(:N54R1!%Z8;+V&,H9EG(AC2$`!4C@=&GE$1YTS&,>AA#,808F
M`E!'&$&1M9$MS?(=K'I&.#]8SJ=+38/6$M=`&.V_7/!S@\5,R%\H21/)*%&Y
M`K!.&"AZP/K]+'IK[%DA;]K31>9T#?^5=((0O.2IV]*R/N'*9#02[=("9K0R
M+=A<Q;I1N3@>)*PW;&(<'Q,/B-["KO,;83'JV0XM>(HCAWU?63NSTF?P\/J"
MK05FV]?9$XR`"[;-[6Y[^]O@#C=BQ4!EL8JU*VJP-HFYJ.UPN_O=XIZD&\CL
M#0V4>3IM81^U7:9N^GH`U)W4=*B)''"`HQ(&[8:WPN']7#/,>:,U]3*NY6VW
M?L\7VQ!,^,(W_NUHKP$!I[LKI26>A09D(`-@.;E25`X`E!_(XO(=05)G3O.:
MTYP$',^YMU/.\YVZ?*EA<'1,E7(2HJ,[Q3#'^`,UKG..CSL,2G+`.S)Z"JH?
M_<L65[KZF-[_](6OCLO4S@+,6<SNKNM\P8$(NZ63GF08(UG@!7\Q>^?'=;._
M>PW`S75ZT%"TL6M]7%,Q%4T*(`&I%Z3N=H\W&OG0Y+8Q4>QL]X0`J%'FTN6'
MIH=/_,;O-XB4W5K8D9^%?N*DD6W(AQ:(U[RWMZ)VO]/B$<@H$"DRKWJ&KYJY
M7:;XW5H?^D9`P$#9:&I^?D_[VKN;$"/<]]JS/HMB!$@9S3,L(5)O?!>LS];O
MS7U$_?YV@A^<O#<>N!VI;_SC(GOO2&?^%<E?^S%"^[H3[H+KUU_]XQ<DV>GN
M?1X68(#^^___`!B``BB`?_<&[*=Z9I2`:N0&O*=^>V``,&<`?7"`_YK'>HXW
M!ORF?W@`@18G@7Q`@8FG:F'$9:359F;@>M]'8R[#@?VV`9\F=RT$@G9W?5KD
M/@W8;YDV2T&&-RRH;BXH?N$7<#)H=K3&9F8P<GEF0?/W@!$X@?6G>+JW9BYS
M@^I6@&[0@];F@7LPA%W7/B^U!L'V9!IX!UC(;%JH!US8=,CW!8-Q3!GH@'I0
MAL-VAGF0AF>W/GAW1E1H;5;8!G*X:W2(!W:8<WY5B-J2?\P'=^+TA["V`>+D
M=EHPB!R71N^W>!-GB$HXAG;`B)<6B'<@B9MG$'O(;'W(!IRH:)YH!Z#H=5RV
M3CZD8/OTACC8!Z?H9ZE8!ZNH<-#E6R1X=?]GL(1QV(0?^(3@1H/`AHBSR`>U
M"&>WN#JY:'O2I'U>=(EE`(QYL(Q@UHQS\(QWQP?'$`WFH``!456^]68P]V\P
M^(*DM`%-J(B"E`7<:']Q$$*$UPKB*#S"D")M$X:0!X?7*(Q;2(P=UU%C@`"8
M5WA2-W)6I6PGJ(EU@(U0IHUR$(]0N(#PMP^W<U<W=51C)W,V!U0B`',B\)%`
MA7,"V6U%A7)`MU@8\21#UU2^V)#^N($`B88GV6U;9EV6$'628'7ZAHQ52(LU
M^4;P>)/<%H5H!P=\QDW].(ONF&00Z6..N%D&]`4468P$66A>T'C#)(M!J8Q#
M*8A&N6UZEV?S6$'_7"F3R<B$'>B$8\EW1DB.Z;>6P=B6R-4%5SF0V127U$@&
MUDB3=KED>;EZM89[(RB76$>7_QB8-OF6O)B4\">"U>:0=!"5*R:1&'A&@XF3
MHJB`=#-VZ!B$*<B.;?F49;"91VF(JCF/R7=/?TF&87D^\H2:9(F'7JAW2%B6
M\469<V"9*H:9>VF58^D"?`F&0,F'0LF8=3B<R56),5F-O"D'OCEBP&F`PXF4
M9JF5N"9,?1>=<3"=(E:=;D";UE>"V8EWNFF">H:"!N=-X*EA4]EV5!2-D7B=
MYMEYQTF*R=EOXMD&Y*F=-5@211@&K[F)L9F5>&F?O@:@8.B:W@D'[YEA__W)
M!O^)@9;8E6R8G\-6BFL0H0XVH7")<`J*G??)@)EY-P7ZD`>*BPI:G%&H;(>4
MHI6YHA:Z1A94H7R7A]DYBL/F`>H(2P%'FOPY=R5*!CB:GG_`6%8DH[U)H]LX
MHICHHB3$H[O&H6K@H0T&HFIPI$^'H5MI?LNGF(`YI&?94CA*B0LJ71?84D;#
MI-+II!,)I35ZE^KIEP_Z!E@Z8%JZ9<+IF`5!I;"6@^957HB3IP+V@W&WIIY9
MGWYZF'S*H,\IC<#X42H(`X8:8(BZ0)`)!ERZBZKI9._EH#,)F\K9</I$GLXI
MF6^Q)OJ(F(OGIM\)IW%PIFX(!U;F98>VFF``J_\0*JLAR@6=R@<^PY`E=R`N
MEU/'"A8/L*S,VJS.^JS0&JTJ0)(_50+1>JW8&JTE<%3)JE,L=R`L8`'B.J[D
M6J[F>J[HBE1N4!=%X073\:[P&J_R&J\:8&_S>J_W:J_XNJ_\VJ_^^J\`^Z[Z
M&K`$6[#34:_QJG?$E`T30">Z*HTG1JE'YGU4.8WM5&@(D`''%IQTRD5\F:I:
M69B>JJA>FJ8J8T68)&T#>J(B"+)]Q;&U%9<NBWPB"UW2]J@K,[-(6K(LNRYH
MNJ@05%`4IK,Y.K)AP``4D1L/M1''D!AMX;2Y\%J%,`J#IR2+L`F!%U!5QR+O
MLCWG.:=?JQMEA@NL`@W_T"<]QX"V?C$,-]MECU,(1L,`)A`):Z4B+W(-*%`B
M"``<JE$2C*`C1:JP[3E#H=`"(.!4'Y`,<C-Y#*`!#]*P2C%HB..*N&4+`N``
MI0`7KT4;VC`5N^"Y5CL,!P6Q.X9^?N$+@T%XH#,=&+%0V.6BH&-3]+`%^B%R
MIY%10<*S8'J8+7!6)5<)"?!:JA!8L:$!P[$F5_N88=M#:U!8D0`!*``2=A8)
MB^`+4L,79:81%<!6@J`)C&`9:@9[MDM6F&>;3$8:;.$`]K8%<ML"Q5N\)P`!
M^8&>YZ>[7J`A&@(F2E&W)?$Y1:$A):(A*;"_AB6E5>4-%6!F_I`7OQ<64W5O
MN0[B#P]%"/=P#Q00'VU">F%1`4@+`1Q\&&<UO]ZR3O#```2!--?`N@MUNH[0
M?,:0.^*("\X7CMM@;N+X=6X[0HF!N:H`>W(S$S:B&CL9`)Y#Q%I&M!ZGHZ6[
MJ9?D,I4V4?RPLT"[L3A+OV`Z8\>6=Z*I@^#7MB0KQ6*B30^;A"-LP`TTQ6";
M3DGLMO8;!@3PQG`<QW(\QW0LQQU0QWB<QWI<QW>\QW[\QX`<R((\R(1LQWU<
(R(@LQT$``#L_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>u49809u4980904.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 u49809u4980904.gif
M1TE&.#EA_0"S`-4``,C(R+"PL)B8F/#P\.^B<**BO=34U-K:VJ^OK\'!SO>#
M.,[.SKR\O*JJJK:VMJ2DI,+"PH"`@)Z>GHR,C(:&AI*2DL?'QY>7E[6UM<W-
MS9:6L<'!P:*BO..69*^OO/%],M/3T^^B;Z.CH]#0U]G9V;N[N^?!J-_?WV5E
MFO]E`.#@X```````````````````````````````````````````````````
M`````````````````````````````````"'Y!```````+`````#]`+,```;_
M0)5P2"P:C\BD<LEL.I_0J'1*K58'UJQVR^UZOV`I-DPNF\_H='.L;KO?\/B1
M+0QT#TN&P0T(X%4+`$P'`0Q/=G*):70J$5P.B$EZ;0<"$!)"`GM+$A*&3HZ*
MHF6,H0`&A2H'"T."!Y";IZD'#P]X?9\&J``+>*\!F[^;0Z@!K"JH#G_$`<9$
M?2H"*M!&PL@5RD0,`8*JD!!"H<E_XZ/F8D6A$0(!%784>)<'%0\!$ZSK[<83
M]PP3`0(>J+#7P($``//JW5-1H4&#",,`4'`(T<`_"1.>37PXS("$2@R7#4G8
MH!^%"L=4-)`0@`*#`Q3JN6P$:(+#"@<L!L!XKJ>3_U+A]@"0]L!04082`/01
M"'&:M&8J)FR2&J!!)@!(E080Z%(7$0/@YO&:`"'GU[`5N@DQN("!@Z&?A#`0
MJ&)N-+4J)#18L.?`IWHTZRGUM("L69^(DP"EZ100SHSV!$BV:NJIG5!WH6:>
M(%F`50@5UBU;((&":4'V(E@=0MHT!;Q"YD4[(&&8YJ%WB9".<(_6!-Z7HU7H
M;"CUZL3(B2RN+.2?0*1"`C'&#55J\V)7H0,2M,=C))9"TB*KJ18\0]@#P3U5
M:[>NP(-?50%T\%%E\`<.A$#H3CZY?Q7+"8&;"@Y0P$I"+8'#'$`&^`.00)H=
MA"`%^TW4DEH/L"/`:Q!04/\5/$-D"-!K17@DA`00"+`,20O!-T0%++GCX`,>
MTE280Q2`Y6$#(/Z''".((-*@$*B,!$DW0AI"B""X"-C-)+]T4TQ*WG`#`9,!
M.#!,E0!<600O1#I#A#5U;?D+.'45TM9`80(C8)9;^N@3(W+6:>>=`.*IYY[^
MT<GGGX#"X6>@A!9*QJ!"G#"$HBJ<P"BCC2Z:Z*.2-OHHI8E.FNFFD5K*Z:6:
M=MJIHY]62JJHH'J*:JB0MLJJJ:FZJJJLI]8*:ZF;VIIKJDM@T4<SP#:#`+##
M!H!`L<4:2ZRPR"YK+++-"LNLM-0J^VRUT$YKK;7'8NMLM]MF>VVXVB9K;KG?
MBGO_[KCK@NMNNMY2^ZZ\X@;;#%Z(&JKOOE<8<2J_``?<J\`$%\Q$O@8GK.>_
M<RP!J<(0]\1PI44@_'"LM\Z:L:RC8MHQKA^O.JO'&..J:\@GERQRRJR2_*K)
M+H\,\Q-T3ASQS7LBC//.>.K,\\\^^@STT'+P*H3%1">-ALT-0\'RKC-K#+7(
M*&\<\]-53_TTUBK'>O77+V>]LL<4T^SOPTJG+8K0:*OM-A-M0R'TVW0[$;?9
M2=Q=]]Y-8#W$W'P'GK?>2`#.J>"(1U$SX470VG78CD?-\>,RCPTRY;6"337F
MG%\.><M<L,UXXD,SC3?IJ(>1[^BI[YTRVH:WSG?FAQLQ_P8$K#03U^"R]_XW
M@4D-9,'=3$=NN=1B&Z^\YI-_7KGR%'>.O/1;QRQJR/U.PPLWQ_GNO1)C*'4`
M'I&0"L`#2J6O_OKLM^_^^_#'+__\]-=O__WXYZ]__G$>[>0!#:#&,R+QO:2U
MBGBPBXTOT#,-`A8P;0PCG)\F!@`$9"QMW7!`?F(3`#1!#&VF.]T2!(B$ME7/
M<]-S7O)`=[Q6T4(")\`="#:(`;\LP&N2BY[S:-="'::PA*P#GQ-(Z+`=6H]Z
M/CSA#U,VO@`HR@`BZ,8)`/`1'/8PAUIC7A*MISJ'*8J(=8L$`'6S00.2;6!$
MN!L8Z68'!O0B2*O8W0<)=[&R^?^O"6M\VY.4X0H'R%%V0H.&WQY(J+B%<`UY
M&Z"J2DC(@!WR8'W+8]^8IT4LHJR2E[0D]+*HR8U9S9*'&J(#X=9(0)GN@)#$
MXRAW9@("N/*5L(RE+&=)2WX]$H@5\]<1)!DQ`J3@E\`,IC"'2<QB&BR(36."
M`$^F,%\6\YG0-"9B.E*$\9V-"J9;72LL&*HT(I-/SHRF.*.)&/JL!1-$<!$:
M`KE*WEUO>9W4VB>O&,YQVG.8+<3D)C]F``M8L)^(4%0#O'2]*+".G4FKYST7
MFH+$1"(2;E0**74I-U$FE*$8;2AB'CJ$;0!F$13]4CMOIM",BC,Q<3&$6A9`
MI6XVCG'_3-/FFT`)L)*:%)I\0V@5;(8[%4`@2VWJGCEL>E-I[NN6!;6=19V6
M2/I88"`G*,$>G@@`*^[SJBP\`5&+.DQ]>I*35\1>[;3P,)UN@5$`>*H3+2`(
M1=G!JE\-JU6WRM5@>E6>8,7J(K%)1^4LU0L2M8-$D?''4="UKK\LV#>5^M)%
M?7&D59!H``6RAVP@YK"(W9,AL5DX+S9PD*C2FS6G@0?^)`:S==6L%^YF5D86
M$5"HY6H;1E"`VMKVMKC-K6YWFP";_>N6K?U9;(O:A@2@X+C(3:YRE\O<YA:@
M"\$E:U;CJE<>;G*X-\UG/$=EW.9Z][O.A6Y(%4DT[)JTN.!-_Z]ZGVM'Q272
M4KQT9Z',FU'TJO>^X9U"VW0Z.E2Z5$_TQ:A]\4M@Y+)7"49CK#+;F6`5(#::
M"FA#@!DZX`(3^,"-0X<J/5N$!T,SPFJ8\$(K;.'[/G>QG46&4-PDTBEX^)D1
M5J*,*1:"%Q>SNDCL;HGQ>^(M8`$T"+&#4!OH8AL/$\1I$/$]2;QC\&(XJ:[U
MJP'4=P)N0HJ$033RD26L96$RN<G>?3**?Z>]P!KA?/GK<C`_L#_\=4#-P&SS
M_3P`YOMJH'YL54K_\J0]0JCDS".MXQ#@_$LDHT')]OQRG9?+`;U]<PQ>Z4/_
MXHL$0J?`T&=`]#@5O>CD/MD*T6V"I?\Q;09-GU0-.NYT?IT6-[,BU<&$1C+U
M*FEJ<L)3KJ9*M:J7*^8Q\SG#FZ)TAD?-94)S>M>?/L)!_WK-O1([Q)8^MJH+
MX-O%1G=TSTYRM%&]ZS#S-9<;%K02LGWH;:=!U]TVL$'_&VHFD#O3YD8#NM.-
M@F13H6;^$K81B$VY%3ZOUM"\J[])->]T8]B0RP9VBZ7P[E+'^PP%[[:]O8E(
M7,ZTFT]K>!D`_DQI=YK:RK;V7W^K-XV3@>-&E3>]>;WN%"^XR'`F]<8?;H:(
M([OE$PLD-Z-@\C"@G)@>7_2!7^WR$4(V"=F>-19_CL];ZY6[*U?NQ--8<:H[
MEL@,CW6QX1S_]#K;F^AW?'GT8M9S,##=R]R..G(;'3IF4SRI9?_"V8/9=3!/
MW;T;SGK,MZ[FNC=YZ#!M+Z+^U0>PPWKOT#9VVM5>;_%:'.L\UWKBN;YXM=\=
MF?@&M,+'K749"[S&A,:Q$3-E\VE'681`U/>_XNZ%N0/3[SNFMJ_!+?;WKE[R
MVE;\N1E_W+M7--R11WSN*;][WA\<P6<,N]%AKF:9GYSF92C]QQU?^ZMS7OCE
MUKW*C?_:JEL_4_KNL.2?+CW7_Y)KHY^>](5._>4CN)NL[X+Y-;JT]7L]@O<6
M9?*Q%W\NS!_V)?9IK+-?;N<$_;<%_U=Y4>=[5E=TC75QFW<$!Z@%_PE8?(SG
M>T'$"&IT=)6&>]E'?-MW@>V%=]7W!$F7?C.F`O_G=-1E??9G=R&G80X37[QR
M@DN$1"H8;2R(5U#V@G_7?@8@&)JG=\W'=UT&@!;&@&'C5T/P4Y9%7AR#=!X(
M;]H'<;Q7;[-'>]-@`(2`-F"$;5/H<%58<U<(<N_E?4AR9NB#/Y;&9G)6/V]&
M:&]8/W3&>W?&/GGV/GM&!P;0`-S0..%'!!.8!14(!K_E@['W?5/@,U,$65'(
M;RJD=(TR?P*G,D:`B`'X;4PX@I#W!"<PB%90B%;(?7:#1C$X4[_E;F$X<V,8
M?678?@_8B6.U;ZOX?*U(!IB8A.^'>DD0B/^#5HL^!WVK-02Y6&!#EP6,Z(M"
M`(I5((IGI6S%>&&<J&S)Y'[4*#(VZ'E+IX/S9#Q,$(T\YHFF&(%89H#`:';"
M&`;@:&+72(+D^%:S*('G*'?I"`;KN%[(QXM(H(R'5X23UW=<P#CWF%Y*Z'V,
MQ(_,2`7.V`5H,Y!.%H_RI7Q)]5C,UV7.%XRW:(@.^5WL-8!"E'<12(O81X4@
M*`7?M)'>UG8@V7V?V'F1B(*/0HG;=7I$@)*K9D<9>(:0ATP).04+:9)1""DV
MR5P8^!-#M',TN8SSV'KU^`5#R7(J68+F.))B6))D2(J3-(OMM@0]*04_J8ZO
M>#@F)$'C93ZC=$K_2DF5K&B5X@@%3REUL`AE@<@HV4A)VVAL.SB+(,0H;^EI
M$Y5*4BEJ2RE_35F*%M>7ZM9]XZ@$A3=6=].54?"5]EB&AK=7OS9>"#F8_E>8
MG%4$B-E[XQ62FVB-4`"94""93AF6/E:`Q?.+:FF+;/E:)J0$G]EXBOF1[>4H
MF1ES>=EOEY*`2M2`TZ@"M5F4!MF+1Q<WIOD$J.D%Q0EE,KA\8+><3M"<TD6<
MJOE?CR>1PBE(WT2=36"=MVF9V(F5?8.;I)F/C0*>3"">6_"<.@F82V`!9\DX
M[+D$[CF<M)F=R.@$]%F16@9B65B=G)F*25F3E#F@W+F/R2F/5.F;Z4>)_US$
M!?`Y@L`5FA#(DYJ)@)P9GP^H*!7JB:TV)LW`"H3'@0[JC\,'D!9H>1XZCI,P
M2FMDGQM*@1UZGOMIGOTY!$$RA"%Y>Z^)D;'Y=GV5HR((G;]7!TI:!`O0&4[Z
MI%`:I5)Z`1<@I59JI55ZI5JZI5S:I5[ZI9*1I6`ZIF0:IF(:I51J%0G$&AU4
M1NTHFJ,@B>0'DU%C!0IJ!A?Z%1F@G4CZEPR9.I5IF*&$IYMUBG9ZI^<00KXV
MF[$HHKNHCV^JB/KIJ+*#J(WJ!K'S=EF`0!<DG(KU!96)3($ZFJ6$&"%$"^PP
M!'ZD**0A`;W0":O@&2HA&>MDD@=Z=830#'^P)O^`4!4'X(0^!53R85`X>#P_
MU4$G4!49P"@8@``O,2PL-2P'4$'`4*B/2IY,$!``X`Z`4"-YT0P!X1`/,`$,
M(``,$`%*X5^1*C,YUVR62BH-<``G,$:Y*A<J0`)0H0=MM`=5X:FGF(*6LP`8
ML!8;P`H(\$3#TP`,``(#X40-X@`9,%5\2CRV2@3,H1<$5`\',12.L!41L`ZU
M6@83PU'Q2D!7(EC0H!0.L``H:JE)0$!"YD!^6`=!TJ8,](SO9R`_)0$8(`&T
M*@3X$0T0L`$"$`$`5!3GL:[^BI[JN;1+$`D%(0(`T0K@@+*"91`,<JMD,`G(
MX`=_%AO*4+-UL`DH*JG"6<``)Q$!6G(^=-$2G@$!_``!#5`!]T`!&R(27925
M<$,X;N$`],"CCK(-IS!9*G$^B1)H;@!`*7(/`;0:M'`E+`L!&O13"^``DMM2
M<-!/?4@DFQ`(8,)2`M(7",%AV7.=33"M8$$,T:%GI"4@R[!GB1`(TSJM(Y$^
MR'`,?!$=L-MR4(9BBS6JQ^FG>SNIM>-;PGLG^V=*6LN=#0:4&$JZ3+4Y=(IK
?SV.GT$L&C+I3"@:J;A"%"].T.]6\AGJG1#<`00``.S\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>u49809u4980905.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 u49809u4980905.gif
M1TE&.#EA!0&Q`.9'`+"PL)^?G^CHZ)B8F-K:VM34U,[.SJJJJN^B<+^_O[R\
MO/>#..?!J+:VMH"`@)*2DJ2DI+]R0)Z>GL+"PHR,C,?'Q[>WMV5EFJ^OKX:&
MAL_/S^_O[]?7UX.#J_?W]^?GYY>7EVMKDW)RC:>GI]/3T^^B;[N[N\'!P<'!
MSJ*BO:.CH^.69-G9V=6OEJFIJ8>'A_%],LC(TK&QQ<W-S>NQC-^E@(^/C[6U
MM>7(MK.@E)F9K>?!I[N!7(5R>;"PNK>1>*"@I^[N[LC(R-_?W_]E`/___^#@
MX/___P``````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M`````````````````````````````````````````````````"'Y!`$``$<`
M+``````%`;$```?_@$>"@X2%AH>(B8J+C(V.CY"1DI.4E9:(`IF:FYR=GI^@
MH:*CI*6FIZBIJJNLK9Y!1K&RL[2UMK>XN;J[O+V^O\#!PL/$Q;8"LPH*LP`%
MN`2X0D*W`+70Q@K.QMN[TK'7W.'BX[O(L@,.T['IMQ#JM@#5M@ZU%-L#[^3C
MW@KR^O\`N9F+-2"#O77J"`@Q<"[?-R$%XCUDN,[(0EGT:A6X.(MCK(T$\-%2
M",Z(0EG>=!F@6,N`D)(K>4D,2+,FL(%&!AS(((^=D`P#*`PP`L`!.UD*@&9X
M4.UGT*%&'#QX(#2D45H[@SZP./5IK*P&\TT`2H&I$0IE%1@H2Y6A2(M#_QU`
MH#J@I!$)0C-,,*D5`KV948D"$&(4P`.*#2#87,PX%LX!`"8X8,@N`T4)#7(Z
MM&R20C7.=S,[R!PZ\*P"%*X]D#:Y\\+41@P<C<69@.>H>TL;:2!!<RPA<>5A
MGL4[EH$,NWOO_NN/N>#=BHT<;DR=YN-J$K:F$^(Y'H2A;W]#-7)@<'<`WZ->
M`VZ:EI`&.Z6-QP=X-<KQY=L[N$:`WEOV^XDWRP`0Q`,`!<`EY%Q%$DE4`')K
M52?A/]>9Q--VYP&P3'APR1(/=P9JV!Z`M#RH4P.KL4>0$("%I^)S&;47V']Q
MW3=@@086$-Z"@34HSP,30$#:A$0*-*`\2:5#0/\&URCCFRS]70/9DDTN<]0!
M!\A(5):NO8C/!%M9^`Z5!%43(Y"Q@)E3;@W$I4Y^LL!)``0$`,`E85L:Y]Q,
MB3%9Y)_&5$@0.P?:R9D$$F@32P.>!55-H3M1]L`!<T&3`9>_77I@!O(U=!=D
M:.53:$%FRC(6EGH1Q=-<<5%`Z0,E+5G@`XH10.L!%-!#&);H/(?B-`4XH!R@
MQ`:#DP+O1*0-BPUH$Y%#+"*K#K/:`%!G`^LUTU$\!4P`T3*Q9!/N8.+*LI&&
M#9[&+4H:%F!E1`K895(#D4%);[`?`8!M4],0T`"X:!8KL"\X#;P-IT:@QM(O
M,0;3L$H'&2PQ+@5//`S_=PY0`*[#Q#R,"P2I6BSR+!6/;/+)*`]3<LHLM^RR
M+"N_+//,$PNPD30XYZSSSCSW[///0`<M]-!$%VWTT4@GK?32"QLA`(LA1BWU
MU%17;?756&>M]=9<=^WUUV"'+7;4&SM6RQ!#T*SVVD56C#;;<,=M4\QRUVUW
M.#$K^M$W!!10``'RWN+WW81+_+81:=>2-^(>\AT/X+T<H'?AX^"PP.67TT!.
M2N'$T,'GG\L0S2PQQ6+";[0D3DO,@T$`@3,`8`"!MQ@,)H0+=L8^>WX&N#[!
M`!48,<$!*G@K!`@:4EJGB(@GKOKSLC@O?2R'0T]]]-1/S_CUW&]?O?;6;V_$
M_PY$E%\^`F]/8$(%[\T`@$M#2#/!"=]@,`$!&)S@-PDD*##`Z7X+'_C`AX(+
M&-"`*4A;MVX0&PS<8``%0%L#&E`!]QF@/`;@T"W<EC;;>:,I@_D0BY[S/@@<
MH$ZQF$F!#M"`3O%+`4*BG"\88+[S?:0!!GB<8@HD&`/@D#Q!JHL$<A8/`TS`
M'\4HX`$OD(+?-,!;0X3,HGPHA"A*@`!PT@7K<D84!1S`6R)T!P\C<T0C3O"(
M*9P`LNPTE,A(KH71D>$N:%A#!!CG?A+)4G[*0X`),,0=02*/_*!&GB$E<8E,
M_`W.AMB/1?6QBD+PXG/*@8N_`0X:?K.DWR[Y$F<XP_\`VHB)HB`2FP)0A)06
M"9P<:T%'\]DQA?1:1C_4@B5]R>.".#S`%3'HQ0)(CAM*/&`38[,2`_1C>,[`
MXON.B24J4C(7JENEQ"R'N05H+F$F=$CCJ*$13!G#<Z#K@.B&\3SMP4R:Z$SG
MZLX6S;-AKWG9BZ?X!"C/ZKUSGO4$WSVM][UZ[O.=_<1G]P;HSX$"E*`"%6A`
MZ6E0>,[B<+_@H#HG>C>Z/92B&)U0.V\"S8QZ5&86_:A(`<50DHWTI`+;Z#,?
MJM+H11.A)86I\_[)O87.M*'>TR=.9;K3@^:SIS75:4)Y.E2?XLT7+46I4H&1
MU%Z$])Y+C6HPFLH+NE%5JEC_K<E3L\I58L2TG5NUQ56[BM6QKC-U+84H2W]:
MU*`6M*TV!6I.V1I3NM)TK@ZU)U#CVE:\ZK6O"24&,GYW&"%,19L.Q<5"[PI3
MQM+UIG!M[%Z%RE"^UC6OE*7I8N6J#V0L@T6)*D!TU$K6TG8V3CHBB&E7NPO2
MWH*TYC@`0ZX8DEKH:VFXS:UN=\O;WOIVM\XHYSH!(`%R(>ITM!@,3EF;4==N
M`QDN(67IDJL.E3J7N3(DK5ES$5;E]@*RE95L9.TZV8(2@`6_(8$L6#`-RSH6
MLV\-;T$G,(1^`"!X"</`,MR[7`KIXG#>'6D![%-<"'8&`.-!V9R&XA)W$&0"
M$FC:_S^V:]*+4@.Q&/7B0H0TK4=A>&)_@XHOSV$1)!K#N>$+K-EZ$6!@J(4\
M`TCPBU]FN]4\()F>09#+H");$H_08MUUB#EK\:N<T*+(-%Z('ONUDM?M6+7G
MJ%/9A$'AB"J6NN+K19T6\H`!#&O+,E/N`6),GI!(T65<XI):@!-'?519<;Q`
M6XM?N]'[)NX`U56N?//Z7OZ.%[Y]%>^>-_MG0@\:L@$),E-3"!%\0)`B<\8N
M,!A`Z4I;^M*8OG1`A*M%7T2Z%Z1D$4/`A<J)M;*&J$ZUJA<P,%6[^M7E*\9U
M6PM6=\+CPX4[-:QWS6J![?K7YAO'K%>ZBT^_F66Z!O:J6_^M[%U3V:L4,U7"
M/I3E`%O7;LEN=@U[72QMPWI@R%CP;EHX.:+@FIW=XW-YU5WHS%(OV]XF`K<%
MK5EZ7R_>KC;J7Y]-R1`;`0*(DO"G90AO;W.;6/A6]390S%'5&J!OP_)0"W]6
M@VI:_.(8QUP-?INT%B0<U3#@>-(^CFJ1[ZS<<%8M`$A@@(@S6A<((+DK!59P
M;1\<4#(/]E2O_%^5#B1++;]BEC'07GW&/.>O)%;-FWWS/^4\U@(+*]$32XNC
MRSSI@%JZLIM>I*<38>%QIJJB<V%UDF/]3UH'-M>)Y'6D:M73YR[[Q^U(U,L:
M^IUI_S6KZ]YG=XNO[0B5]7\K+)/_N#_][$7*.Z^9G7-A%T.B\ARX+.2><,03
M2?&P7ON$VCYX6_,[Y8I-G)W92GE\6WY"F'^UYB7$^8XZ_AAPAV8)#D_SIZ^^
M.JV'MN>IOL'8DYWVQ4J]JV]/G=RWUCJ^QT7IXUT"?8.WWN2=I_"7[59V'SJ^
MV&O]D!OC-H-*/A;+]_;I)33]5!._,<8_L=O/*E;L?=\(X=?V^*M3?E2?GS'I
M3QW/R0GZ8A?]%O'7;/-''?6W;8PG<S414+T7&[UA6/:!9>@&?\"G=+9W@"2'
M5&8U;+V70T,16FWV<K^'=+67<_>W&/G'5,<&>N`!9;,P=2%X==8'?8!F=VE3
M@.:S=\_7_U!^MF>`UTXI^'@D1EL)!DM`LP)/MP(F9S0>EW,AEX1%XW5!PSY#
M4P%2>'+ZQWY#H0"(LE_,\`ZN%8#*-H"-88/E4X(V<8*=1PX#01'3U84P-X%9
M5X&^]G17*%84!E$:.';H!H;`)H:,08;R9H$?5X<1Z%*A9V6]X(+*!X=H)X?=
M1H=1EWPJQ8>_UGS5]U?7%X/OYHCVIE"=F#9HR'\]!WLL9G@B&'R.B'"0F&7I
M-C?MUSV2ES:4N&M^N!B`:(8U$8K?=7S$I@NQ*(&G2($D*(@)]PLE96&(6'@O
M%4VS"&NU:!.W2(SXMGODH(`KIHPO:'8C*'.X2!.ZR(JREE1Z"/^`C)AXJ8AS
MJ\@-/^@TU-@\[]>,KT9WCR57GQ@+T<AWZX:)]_2-8%=5R4>.P1B'PSB'C==?
MGT<PM.`_`V``:F5M%@:/KO:,-1&-!(F`N_A6ST4+0^B&V3AWVTARW1@0_"@.
MULB.LT`!$F!@$+B(`=F(`_F(!>EZKE@+:)1<$^<S1IAS2.B$0[.$,M>$/"DT
M4+A;5<@S*,=^L?``%3`[D6>*,F>)?I6#GAA]ST.144F/\UA4@)>`_J@NN;&2
M7UB.EW>.3I>.4/6*U_5FX_B08HEZ9-EU9GF1&IB,_O>&+6F.+ZF*,0E-Z_B*
MA%=L%=!4$*EJ$DD35JF7%MF*<WF6?DG_BG;(D2P)@ZB8E^B8<TFUF#+9B^`(
M@F<YF*E&=U+)3_7H5O?H/`6`*.J5,(@27%E)@[$PDBAH+'%F;H0(C)(IC-Q8
M"^X@!%RRF][T#[`I3XRI,O]X-K-WEV-)F4:VG%"QD>20?IBIAG`GF&()+]_P
M+Q-)ELT)9<XY#M^(F4VU;^=4BM2)G`,`87\T/(:D#X>Y*`;2-_0"&`#QG7W9
MCB99>+OGF:AF>4/Q8\(S9>30GO."+2`Q0:HD#IQWAQF(D&AE8>\(?,_3G[?D
M`E0I@_9$D9FHCSJH4\%YD)WF'BCWH.8I9;'QF_\@H'"YE\.YF?5YC;%@0C=F
M6_AE7<=YFQU!_R!&H(4Q!J#C@*)L%Y?V>8B\^)?2(3SK213X%9G:.)FY69$7
MV!@IYJ)&YI\>@B-5\P,1D*5:NJ5<VJ5;V@,B$*9B.J9D6J9C"@1C`P`YX*5L
MVJ81P`-I&J?QX*9TRJ5RBC4\BI1&I@`-T)`W*7)%&92".JA!Z0,A<*B(FJB*
MNJB)J@-4^#,2UG^[,17R\GX>6IN2-J2S&4R(U*F>ND0)%*5.%7;?5Y(K.HJ:
M.)4SV'<5NJ'8YZJKREG(F`O@%$ZV>JNX*DY&0FNENGVGFJE$0E4MRFY$F@MZ
M=H?`6B2F"FYTMI+"N7-WE:Q0"JW[IYFX8*G2JC9JD9+*80!3T6/A>?]L3R5G
MYS9AV2JDF]F@UB!;.^0,#7`"$Y`8U2H,XSH$I;JBT1F!&JJJ^YJAK!JK[8:5
MY/!$(S1U&708/;9PM3:KSGJ1YSHR@W%!@G07@`,9Y?J8W(6NM,EIGS>L#XN'
MKV4JR\`4-P9:Y4$GORJ;S>HA0M:B0O6PNJ<+M?(2?4-,6(2!=.F+%PNSBQ&=
MU]6&LS`!+&!=?5FOV,J7EPJL*":LVW55/NN8=3)F.M$T`Z=7^8JS@=::_WIW
ML-JOSO>J/>NQO`=ZS;"0$:0"8+F@/-NS^/IF2TNO08A@%>`""S,8OFJ,:UN-
M*>MFR<A@)=9BRF!RCZHS@4JHALN3@5JX0#/_N#G#N+YUE(37&Y"QD"@KMGDK
M>,:8@1R[MX5XC<@2/W]CH@HKBI?[K`/35,=B*@>*J6J+J9EJN;16'6&%MZU8
MNA\5,SZ(:(:8"R`!)>``2L;!ABP!.7_B$BA1$B_Q&\OB2=*PNMF55FJ)M2M+
M#06V%T/P@&RD1ENHA1(`,#L+$#IA&#J"8-I07#<&HZ)U`.>[+A*R%AES&?Y0
M%!1@3%)!``H@%??K`":F?K,IJ0%QFM\P%+JD#@SQ'G5!`"EY7KTQP+5K$WQJ
M'-$!`6Q(%-YJI%L1KP.`G1/R`+*T%3_A#W51'A0@6@HPPA!``1),:[J[N7"+
MN=T`PLH08'-26SG1_YPQ_+WZ$&!9F,+&D242*J&#<0!Y6A,Q0@^3@D0A@2_Q
M\!<9<QM7.U!%NWO#!KVS$!)]I(5C1@$JD#8S_&]^(P&O<YI9K!@@N[LR*9KU
MM)3CIB]#@$9#(+%#D(5MDJ,39`0G(`^NF:IH3`$S`*\9T"8QEIHA01E8U`#[
M,68;T9WSVKDY2Q._,P"3$@L8$)A#H`)=ABR'Y8#J<+3>D[D-!0`@,!43@`&0
M3`)I(Q0+B2*PHLIU$F/0@,9Z_+4.90)+(2P;X3I2(A1>1!6^1!4GK#&-.;U'
MM7XAVPN0&P[:10['+#(*<4&8-$K2X`RH)%V1BK%!VL*+9CBFB\P[:*&A*?_+
M7LMS:-.TL"O,]WG-_;A6BTRL8?=1LR:LR,S(T6:NYBS%35NM:K51X\RYI[N.
M5>:KRZJR:8C.X6C&#.NP3YQ2MJ9=FIN9;F96!7-M%L-I><RU_.IWL!S.Z>I5
MX4G0ZAHH)%G.'LU<\$P3/SB[#>RP'YVW^JS/?,N_O(>[H\NY(MU<\MR_5.:T
M/IBQ+DP4(!``0!W40CW41%W41GW42)W42KW43-W43OW44!W52ZW(#:>IUSH$
M19#56KW56^T!&[#5&^`!7#W69%W69DW67GW68_T!:MW6;OW6<!W7<CW76TW5
MC5P,`(#59!V86ST$";#5":#7?$W7<[T!0S`";HW_V!I`V(S=V([]V&<]'@DM
MI1L]G$.``4/P`19@`8N=`!;``0'PUT6@V1:0`!ZPV1_@V1;P`:&=U1^PV*-=
MVAJ@`9^]V9F]V*N]V1R@U9[-`:==`:N-VZEM`QI0`45@`:Z-`1K``9[]`38P
M!!9PVA:@UY!=W=9]W65MUXGE7+B;5M2`-L@=`!40V"`0V%D]`A[`W"/``1PP
M`@G@V^Y-W5J-WLS]WA6PVP'@UT60W^&=U>,]!"!PWQZ0WW]-X`&PWQN``5D-
MW46PV)A]X.*-W]@]X11>W=H]JN*0U_H=VH']WUE]X'X=`!PP!!I@WJ$MWQ]>
M!'X=V":^X1N>U0G0X2U>_^`A?MP8L-LJ7N`)\.#[;>(5_N-`+M?=665AY=TI
MA#8%O@$C4-KCG=4<@`'N_>0WG@`C<.--/MJP+>4Q/@1*7MH;$-KY'0"EG=5=
MG@!*G@`!\.5H[M<CD-DOH-4;3N7M/01ION2B'>1XGN=C?>%=&0YY7>&F70&P
M7=;Z?=8'3M8)KN>*ONAQ/0#'MK#JB-D5O@$),.AE;=AJ;>E;K0%BS>B>_NE[
M?M#L7*RQ>S:2#NJHGNJJ3MA\KIEW:ZPHONJR/NNTWNH?:M7?#=<>``):O0$_
MK0&^'@":3NO^#0(@T.D-_M<58.P>L.S'3NPPK@$_S=E;+>DC$`"('=20/>15
M/?_0L_KG;XT!O)[L^/W>^PWM7,WKL\WEM/W7ZB[M#3[LJD[BE<[6T6W85)[9
M"HX!7SX$R-[8ML[3?A[KAN[:&G#C+W#P'/#FZ*[5(&[F8OWB-5[HM([>I8T!
M]IW6@:W?"5`!&/_LCCT4]8G28XLXI_[6AY[5LWW@*]_P#E\$S`WG!0[S:$[S
MT'[@;+W?%!_8FGW<'/#5YAWRZJS.VT?RL![7A[[<=M[>8^[R18`!%@`"AOW5
M^@WU4F_U7TWL%D#I4#[;/X_5YEW>QU[>`?#OK#[,1`\,X/[6.<_6']#V.>_T
M*O[585T$:3WW"Y[UQ$[IH\W6"I[6=>\!_F[W@__80TYM849OT&LO]XROY[[M
MVG&/YX=_U\5\](U_^9A/UR*?D<B\^)G_^:!/UIL/TK$)#S\MU:B?^JJ_^JS?
M^J[/U`GVM@)O5"?FTJ5?^AG]S9>(T;2?T]Z^:3=-N\7ZZB+#PB\SQ?^,L4_[
)K"V-TU45"``[
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>7
<FILENAME>u49809u4980906.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 u49809u4980906.gif
M1TE&.#EA!0'"`-4``+"PL)B8F/?W]]K:VM34U,[.SL?'Q[R\O)Z>GJJJJN^B
M<*2DI+:VML+"PJ*BO9*2DI]Y8(:&AHR,C("`@/>#.'EYAN?!J)>7EZ^OK]G9
MV<W-S=/3T[N[NYV=G>^B;Z.CH^.69,'!P9&1D:*BO*FIJ;6UM9N(?.NQC,'!
MSN/0Q):6L8N+BXB(C\C(R-_?WV5EFO]E`.#@X```````````````````````
M`````````````````````````````````"'Y!```````+``````%`<(```;_
M0(%P2"P:C\BD<LEL.I_0J'1*K5J1L:QVR^UZO^"P>$PNF\_HM'K-;KO?\+A\
M3J_;[836MD!(#PIS+7IR!'UW7H`%@HM_BXN%CBV`B(>5AP`3#5H!`&DM`7()
M$@AS`)V66@`',0$2`:\!!0FO$:X!!P`1L`$)7PN#J,%OF!$#69R>H'$!P'&F
MP@,/QZ==R%D`RF($V<+=:M@2O:R="9.R,0D,$A,'"1,2@"T/`>^:,0P1$[$Q
M[1'26@,63)BP8$`"?ZNT;)L0X50`?!$^Z3-V@`&]?<\*T&L8HP4U!`0,#BP8
M0R1!8P4>O$NHA0&#:5^LQ<#FY>`$!,9B()CDK:<9_VPM)NA!QBS+)U8X6W!D
M0"KH2Z4$&CSHPT`:``D##&594##@@I0,M,9X\)+``TT3.N72@^`E)CWJ9G:2
M4/;!@0'%8J1$UW5!KP1]>[7M^&_3H`"_!(F5>=64*3T%L`Y`8.^9S\MC:(H:
M0'30T0#V)A@%U4*"EG0(`"R"!T#<E@B&"$1@U2SR(@"D)A@[*G?F`BT/"IB*
MK.4`*02K%KR,T$!0@]G,G<]>0%9L%M'';-W:PEB"8]4Q"$Q(8&\TYO-@:`X(
MU]E\T1C8C_*6&V`>+.'4M&"_3GN+TEV]Q*?,,Y;1]E@V1QF'ES'Z[`+?+J`,
M<)4^7.PG$Q>,<:-%"P@P9/_/?.B%>(TR07G77PP-@/*>@!V9E@5R"[!T5X%:
MP),%<>]E08"+>NG!8F\`_)8%;*;(UM)O`TS`@)`2&#+`*DUF\20_.DK0C(7Y
M<4<-35SD,:)Y(H;)I4YIQ4!="P>X<B*+2B'@T0-_1'!`"]3UQ@4`9TG528XO
MNOD<6F`2F!:'O3P3@)L'1/0B<UE4U=P#O3@J3R^'HHD5=X=EN<F6#T32D9P<
MGD)CF.>U`]!V$B+6PE^3*'..+!:1U!$"O%#$TA8'O))0.5RD2MDQ-XISP"JM
M+?!0%L.6A(V;6C3`(S^OO(1LM%(:NQ,7+F61P*U;;%L<A,JD*-.UI)9KKANC
MBI'_@*9L1'/'-N?&*^\9Z7ZQ35YRJ&+'+_/VZZ\7A9C10DYS\%3POP@GK/#"
M##?L\,,01RSQQ)40\-W%&&>L\<8<=^SQQR"'+/+())=L\LDH9]S%`)$X8H`@
M!KS<0LPP+R+SS#;#+#/-,^^<<\U`\RRTST#C'/3.1!NM--(Z-[WTST8/[?3-
M5/\L]=-%,]WSU%!7O?770G=M]<U?-T/QV6B3ZD+:;+?M]MMPQRWWW'37;;>_
M:\?@0MYG['WWW_+Z;8?@A&O!]^%9$)YWX8D;[KC>BR_^N-Z/*YZXY(UG3CGD
MEW>^^>>(<RYZZ*![;GGIFD=N.N:H;WXZZ:2_P3?@M-=N__OMN.>N^^Z\WQT[
M&8+W+OS@L\_!>.NJC\XZ[*N;/GGHKS]?>?+',Z^\\ZE/CSWRS8\N?>:O+]]%
M\6R0_X7UKE,O?O;7>\]^^MM;'_[[T*M/O_;N<]]^]=_/WWHPP1N>`#$3&SVP
MK`5:*8`Y%CC`!FKN#1:950(2P($%@(<?"$".<32806XY\(-J4`0H*,,`@P"@
MA,<8P&0"H$):M1"$,-S?&%3DDA@UX`!"4L8KCJ'#+80DAKPSWQE`T0$5WL*(
M6R'`!A"P@$)TH(D$Z(#A3A@UK84M:V/C&A:/-K6D>:V*7=PBUJ[V1:^1T8MB
M`YL5TPA&L$&M97`TV`QCH('Z-/\@1<$IP)P>T"EY/.!E?#3`%/5@O_S)CWK?
M@Y\,[[>_]:$N>HST'_H*R3_V0?)SWLB`M,IP02`"+H#FZJ0G1RD&(9)!E*2\
MW>DP:0E4IO)OA:0#*.]DME>2TI1"#!T`!-E(1BKRDH>,7_\HF4A*.K)^PK0D
M,2,9RU7&RY6VM*4IQ0#-:%H3#=6\9MNFN05NEJ*6VI1;`(/GS0>&89;7`&<X
M[89.-?S."]E<Y\**UT[,S`X\QJ2?(30`"!=DP!A[4X0@698!HVP`?\`<9O<F
MN=!B+O28"$4D,SUWGG*.#P/J-$-`U)(`RI@%&)S8$TU2$P#KR#-A%NU"/,EP
MPSTEJQW_@^`,>-RT$^5D]*2R2UX:ZHG-FY;!(S%@3HQF,@@",.`3!+`@93HU
M%9RZ@9OD9%TP5DH&H(*B`6HIJB;652@&_,6G3E78.ZDZ!J#FJJG@$0QB6'$H
M=.PPK'U+:1S0R=.\D;4-[#J7/7"1D_(,P"4J9$!"^!HWGLHAI79M!C(7J3])
M.I2QP81<0"[@`ER$``"3U0(&3,&`#[@$`QP`0`,P(-'&EC:R"7V?PW8IU[:%
M1$6XX0-G-L%#(W*"7'4C)WKN*C<5*9`4K*`M*Z1BK%@4`+AIP^4[6XM7L-(-
M%%\Y+K"T)8@8L2Q(OQTE<[_`VRRDP`+@#:]XQTO>\I(7,[T(_PBY>B$<`F20
M`!KI"V[AMMTRS.YP4N5;=V.@`!CX][\`#K"`!RS@>`V@/.)L0WWO.P;]#L*P
M6>@O@2=,X0+#U6V[I.@O72#A"GMXPA,UI$(A.^+4/O*T"B6`"S8@B`RX8&!\
M,T!.9)P%?I[/"\?#S'X[_.$>`S@8)Z"`D(=,Y"(;^<A&]LE&S50D7I3T17AR
M;Y1;\ZO5.G<+//:QCX.192U_V"<M985@@PM4O<Q$@6>^A0<M45^57ED+7?9R
MA;DL9RU?!JBJV9:3J7$.O?1"J*M0;H/=^5C7I1,-<:XS@>FLZ"_[!*@OP:HB
MDN7G8`$+JV%Z9S</O>DP)+K1`68TJ/\I?&>UO"(@;3U`9%ZQZEB<U:009J48
M)%028_'AO3IZKWM!LFNQL+;38/CTJ/TKZF$/.%X-D&,WS1?KE"85%*IY4F+$
M,>UJ"\(U1#VGYX0];-2B.'O<'K7^-IS,$S?4G.Z<IA"-H2+JI&BZ.HSW=#EM
MAG"#NMC&#O4'07$!V\*;AP`/;BJ."L>"MP`$^2:PP1?.<#@B/.$";KC$)T[Q
MBO/,90Q7=AA`@8$:,F"SF#6J8Q@P<L=LX8(6M7>C\0UQ&(A5EN4<;`G_6D*+
M:;*$-Q]`S@V'471_0>6*9CG$H_F'4IZ\EO4$>IV%GO"'D8^NP+[,CENN;TLH
M7<X7=G,I(W?_=2^'N)*/]`#5`0Q1\'W;W"3.]/;H]>8(C_V_3,]W,%#@@+K;
M_>YXS[O>\SX^,\@UQS]Y<!FZ;F=4$'[+J'#`"Q;/^,8[_O&0?[R"Y]K@GF/2
ME(?O<=R-'0S%1_[SH)<\\"9W"/--_>TN-SSJ4V\)SX?^]9_7=H@<C.C5;W[8
MG8>][B%?T9X:?7.9__(R3;NZX'M8F>5>K`M&L/OF,Y[T`/2][.%L^^%[^W+&
MGS/:P:Y\YCN_^9,_+#4)F7+;JQ[UN?_^[G%LW_;[_/VI(#_TN9!]4I__[>E7
M/^S1T.;)GQ[_]S=V^:=_H3=H/D$^_R>``4AU`TB`L==_Y2-]]69^_U9'@97@
M>@X8>YG&3=E$3QQF?M<W;HLC=JA7=N2F/QB8@;PW/MX$@5Q@6)U45Q^(?L0G
M8I9$@F]G@M;W."FH@HZ'8RZX;!I&+P8@5_4'8@O8<@WH@XWG=SVA.@G(@$DX
M=(G'A)$WA/!W!Z8$3??%-T>X:%/8=%5HA:(7@4\5=;3$?C]G@8?PA<<VAF38
MA#LU?Y?0=OS%AG?@AA;6>G'X@Y?!7%'8<B'(?8ZCAZ'&4+V$/#U(AGUG/,X@
M>&1@B#\6AG('AWWX`O85A&U@>1-(@Q7HB1=XB<\W?7`@:-WC2J#DA7AH!Y((
M=Y;8AUE(*H%(A9\(@'PHBI@XA['X3;4'BO]MN(IUL(A6>(9FR$DW13ZM2&R4
MR'FO&(<OJ(EUT%TS"("#^%@N@(-CIX/GACK"R(1.2&AH2(='AX5>D(RL5PGF
MN(2,2(IL9CC)PXF#!XQTD([-R(C0R`72)16WH(\)X4>"P$<S(P*=(CBS*(:U
MJ("W*(J'(!S0IFHSX9`O4@@+P&L3*9'C^(Q"Z':^F(?R.`?=Z(,8>4Y2%1/H
M$"2M89+P)F\"1V_QN)&LV)%R\)$J:`F@,`D7T"HO8D0XP1D[R0U45'$/]W85
M-Y2.$)1C1Y1(J0*X^`(2=W$:!P8!X`)!@AQ3>0!YL$'#TD%8>9'E-(T"N(/(
MISSTJ'S:.#HRF8'_[!A"-V(.&J`L>L%`;YF&9T"/!RF%E>`"9^F`Y*B%)4$P
M-Y8X*Q5`=(F.,!D'>4F`>UDNJ(AYA0D'@WD(AZE_C0@&]RAKW&6'C\F1+AF,
M2UD^E3E^NZB1MDB8FTD'D:E^T9>)E^F$F?F2I>F1G=E@_=>%W_!F:Y..A&AV
MV^B54FAB9,F#L3DOAQ-/H-2:=6"<E!<#I_E]&O:90+B+J.AIC?D&R`F;N!A^
MPE"0E5B72EB/P\A_"S9Z\"1_D3B=;E"=,1F<O[=3FC:9<MF)H_F+KYF>UQF.
MH?F<<$!5P8.><<"?X*@%R^E\+^B.H829(%AB97F-JY>@I36@`0I^Y^.<_Z$Y
MG$C'F//9G^;9!@^Z?@JCG<S(G;08BO79-XFIAB:ZA>09DI#CG]29H6RPH;J7
MA;&VGFM`G/C%HN?IHFL`H_LGFR+BH;BWC$$J?EW`HZ\7DA)ZGQ<)GPA)FO%I
M/'ECI`4HG)(3G<&VH`B:?(58?=882U\@I:!'C)0)5>6$3TQJET[:I)"IGN*Y
M!LS6GMDVIIF#HVU`IR^ZE#,J.P8XGNYGIVO@IVH`IAJ8ECIFH!?JF#JZIP#*
MIOYBI6MXJ"T*J6Z:!8)ZA?89H<6X=2Q9GI):IXGJGEY0J2OXC:A`/CTWHV.9
MI2*8.-A(=0R*!J+Z>+DD2W_)@<?8!8":!KD*J_]X.GO&F):[.I>?RJLC*J<_
MVG:\V9T@:I#I=JFQZH?>D*=+VI)/ZIK5RIDC*JVQ&`(N8#'1!EA2`E@T%U@H
M%'^@2G_#*JR=JHO/*H=Q10:H=@]'Y:TG=`V<Y1@E,'*-$YBS8XZ#J(VXV:6!
MRJA*"@:O9289I!'_QE8!IPQK8Z;4FHVJFIN4$["^])=@T*Z,QVP#J@8U.0!+
MU$,"]U8D>W+V`2XH^PHF``$LV[(N^[(P&[,PF[(T6[,UN[(RF[,Z.[,VV[,!
M<`$VRP(5,+1$6[1&>[1(>[0^^[,.8@;0!E\(D`#5I3=22R=5ZQ>"\`%UD*3A
M!%7=P%X9E!7OU5ZZ5K;_(.&C+)AUFDJHPJ"MO8)@I8BQ&:FV>JJH'(N=^"F2
M)$JWM&JL<INIEMFFI?=0O@26VW=VOVF#EY>W6ZNW?,M.\>*<]>2V8V``;:D0
M><,R4C(P)<&Y.A(BDK"Y6Z"YG6L,7M(1H8NW&X@>"^:!`/,`K1$NRL`9LS`6
M>&*[__!N!`2[L[`-7$*[H`"[4P$I3<0):[:UQ2,N'^(:Q[43D[&38:L1VY&<
MP,.U&/L5C:)JM5L2?>`F?^%5Z*!`VWL9V'L/JS!;W*L3JX(.OP(:%F12.24&
M!<`<SP$(:@)EV#!!^JN_08)`BJJBW:!;YXHA&P(8Z(LL<Z(6!-(`!:$AWH`@
M_VHA*_R0P#-1%,RP1U(G*J9@+-@"%)_`#)\@$(P2N*S[IG3(31A`+,H!M!$P
M"<F25&;"P&:2*P'0PCJFP@>P58/PPK_A%ZO0*8!0&.+Y=&<`O@0`&&0Q%7YS
M`%I[`8+P"B]S`0V@`2$0E?SGID2L9,8R#S@9'A%P`1>@$P$@1;0B17KCL&5Y
M@NB3`<8B`C=)*\JP`;H0E;2"`!G`1PRP`?5Q`/E$![*Q`/G@$0M@)5GP'*J`
M#0^!R$N20=B&-X<`OPP#R<(I<JT1'C)B"JN0+?):$IH\P`#TF8AEO;ZS-I0K
MN&EKRHX+P'O[N)9I4?A%RJ0,.7X#R[)<L`3*GF:(2_^82L)9-Y*J^[=L=K=L
MVVFES,K]4LRE)\H,H\N#JYJUHVZ$NZJ)B(B^&5%SZS#WV)4F2IG`;$V&I5.G
M+(Z[?,7BS,W=C,K&3,R^G(KOBLRZ6!R-C"PNS!,..3MZ=``:,*M;L%7F?!IL
MP,^G!!JGL4/8H`DI$L\UH1#&@EGR?"-,)+:\AFO\($=ZI`4:T0LI@@$=L59C
MP`&3D"I-I%X?_0$=``C&H@<G+;W'VP8(=,=]D!5FI@&BI0<AP3(2TAQ[@%4A
M<;JGZ[]\4`#1`%]9,3`P#0@\#2\Z8D`\;4`*9--F471H!@E&$1LE5!C*$!5C
M,1DHXB2<JT`OK;!9$!S\\!O_\SL(F(4+UK:^97TY#9`:FV`0\O!7!P`GHK4A
M??#31G%!0U4`(B`)Z-L<V\!7MX!9G&"'94`9O]!4%J.P%F1!))<B!L`)CGT-
M7L59E*$:,=)1#*P1QF$`4Q$`D=W65B4+HATC)+(`#/P);4W:;N*^\O#4G.`2
M)+<N3-$`":`5`7$C\P!<'24/M%(MG[`>4L$9SI+7;YT:S<``D=VPDR%*U]4L
M\Y#5)`<*!G`*Y/$+M[`3E/$>V:`:294?^-$"+G`!X'$HM`*W;T`:8X*U!6!!
M@O`=Z51FZBU:7(%514AF-*$:*F)5U3T.2E7>A\8,(J54D'85P46RJN$1;9T`
M.1$0_WZ)#H.0#E^UT=BUWWMB:>P6M3*1+"IY*+.0)2V@T<#B$@=-$V7F'10$
M;4=Q091E#+RRDN=0WJHQWE*2#8OEM'+ML.LR7`F^60I2V&7V%22G"KT@`171
MWBPD6"INX;11#H-M$$>N#!7!&0:`$Q<06@-``M7=`A^0`:81QHC!3Q;T,J:@
M`;BP-Z!1A'QP`9'=`DX<',R@Q/!"`IPQWNZ5`2N0.(E,%XHP5"CR"Y1\0H[1
MYU9),"$>'M&`53C$(>XEVF'])"L>W,SB&W.-'.3Q#]L@"<>5(IN.&!7!X'VP
M78AC,:N0$-VJ!W>!0'F`0!Z1!U)=$B7``8J!5:A><_JR"O\(U!Q6B>KW<$,Q
MP`$8T`?#<LEYL"["#@!23>)_10!W`5BJ/C`G9+HF]QL>$0_@83'`X!&\CNN=
MS`^B)0[^Z^W?.G/@VA',#@Q>,B<$D,)Z<>WZHB.W;NZDKA4>@0O,C@$'U1&8
M[.W''A+98C'%J(GZ',[5BY]E=@>&#;@=:]$/KA<`=<($[[>\+%E/Z9GOFL[G
M'+\0X\[HK,S_PO&>O+8)$^Z=6QR/<=/A\>[N>2NX0$AZX21C1G/_!%C>FO#T
M]9^EZ/$=>T$:(>(]\@N4L1.@,5\D>0Q'94$EH2@QG`XEQUDN0?).]\XA[X@R
M>J*V+!<@P0D!L`&Q.PB*D!]'S`__!AS&0%59';4C(V7@E08L4=L,#<`!'3Z1
MUV*XB4NQ^23`J:QV58_.D^D"S<$,2QZG^MXM@-`!=/)N)VZ23$XBU,`+2\(2
MY]#A&B"V:$.Y)CSQ.>\-G2*U@2^U&Y(?R@`G#6`1$I(0TJ!`OM4+A1$<#+PM
MV'`*?7:U5XOLTI5*7DNDH6`*!M`+JF;;"W"Y>I')@B0.*5(0(=PL$Y0!?X'U
M"LT+0N+1(W(+O;9$(-&\?[#2&\^7XWS-R[PV+9#ON/R_PT.F-$H\Y0+RX#DW
MTJII;LM<.D^J[B<ZXO]T+2@QL_S^;9OQ_<RU^`\$,9<K)BP:B\1D4CED+J%(
LI%/8/"J/(UGM]LK58KUA,1?<'8_+9_6:W29CTV[Y'%VG?\UJJO3^9`<!`#L_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>8
<FILENAME>u49809u4980907.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 u49809u4980907.gif
M1TE&.#EA_0"S`-4``+"PL.?!J)B8F.^B<-K:VKR\O.CHZ-34U,[.SL'!SL+"
MPK:VMJJJJJ2DI)*2DIZ>GHR,C("`@,?'QX:&AO>#.-G9V>^B;]6OEJ^OK^?!
MI^.69*^OO,W-S=/3T\'!P;6UM;N[NZFIJ>/0Q.'8TN7(MMC8V\_&P)>7E^NQ
MC..68V5EFLC(R-_?W_]E`.#@X```````````````````````````````````
M`````````````````````````````````"'Y!```````+`````#]`+,```;_
M0(-K2"P:C\BD<LEL.I_0J'1*K5JMPJMVR^UZO^"P-"LNF\_HM+I)7KO?\+C\
MV"X`BG;F:N6Z-PL'1BL```A/!'.)BHM%;0(1"D,$$1%,A'U.`GQ$#!"$$`5-
M"`*,I:9NC@\,0PH/E2X$"P"!L`MV=YL'``N(+H,+@9I%$;T'$P>T!(:QLRX+
M#H&ZO+`(@PBQT\RTI]S=2(X%$$,-!94$#@T`$-<3#0T3=Y4($PSO!.H`#^+"
M1`(/"KT0B'/!8)6#@A$..)A00&!!!P160%`U00``="X.,DCHK6-'1RL<&)HP
MR46!!WL`D&LP+IX+<D,*1#1TH!(_20L>.8CD@,\Z_Q<,D?DBE6[/@P(2APB(
MM()4T&T>HY8"N8!!*Q>5U`G8RN!2'Y<W72AX!,'F)A<'0@U9<:Q``X&L'$00
M$)&4``=;!2`EY4)84[%RZ4H=O`CD`0@P*YT<4LUM2ZPOU2Y@RZ?DS4G;(*P@
MT&[!D&@/`/QMX%GL@;]]^?P%[8>P:S@@,T)`9`X=@`D`T;USZ9#!,<07S199
M0._B@W$<C76=L$=S[V.H_0I0?OOLZ^MIZ@124-H/LTVQD/+QHZM9^0/``!E!
M0"A27"+E#3D+=1ZM6O5IT1*2C[W_F3:EA*26?P2Z!B`C#:Q2X(*#'<C@@Q":
MX6"$%%:HQ80NL,#"$!IR2/_$AAF""&*&'W(H8HDAFNCABAV2R**()[ZXHHLN
MMC@BC"K2B*..*-K8XXXWYABDC#RF:.20/LX()(IL*&'CA@QP\*.24Q;Y))5'
M5IEDC3%:V2607PK)Y))$;DFFEUA>B6:17&*9(QU1A&7AG'.V04`#)P"`R`$-
M"/!6:BX@\,!2K/AC'9V(OM9&:"%%`@$#*S1PG":'(;630"L\D^BFBA;1)S"?
M1<2`79E:I-(#RKG'Z:J)C)B$G<]$$(H`$/A#*@"F`A!*I!-`Q.JO:;A:A+!#
MU(%(`9HX,$1.+&BB@+(F@7"``AIJAF2896J)K9E::ILFMFVNR6V696X+[IE@
M?NO_IA-M-%`K;IPY(*^RPK@KP`0(S',7M,#VRPB`U?0RDR^!!K29)"OPY^_"
M<V#(\,.=.@GQQ'`,22,1#A-+\<9B:/R-%->ZB:Z0YJI+;K@6CWQDR6RJK&;(
M+8M9KLDI&]%B%`=ZS/'.#7]%R,]``X`!!D$7;?312">M]-),-^WTTU!'+?74
M31/]M!$.\ZQU(AC>O/775Z2+-=AD?Z&S$EDC<7;9;#^1,\%*K(",!!+(S"4"
M!=1\LM@PZSWNR]W2[*VX@_<]IMU\,[G%A'LHX)X$2.FYQR!\+,#4`OD6PIB>
M>BW+E"^9WG,-`*JV_=K:32*QGX)Z-G"/:(/L@@#FKM>S_X)[M?MARUMW$$(`
M`W?:,J#IOTY("`M^]/Y52KXK,$@?>"NX2E=#D*Z`+@3=,?VTQQ'_X(X7%YM$
M`:'<9Y))#>$M$_7EVW$?`WA+POXNH2#`0$/4>^\?S*\>@;J._],?A2R&!?])
MS'_G0AS)!#<SPC$092SS6P0C>+B]+="!ZZI"V@3(P3$P(8`=?)C7<!;"$AHI
M?,."DPE7B,`E.(A8XV(AG80%0K1U880HJ^#?7)9`"Z[L@89K8!`A",3`$3$)
M->Q?&)(H0U9EC8E-Y!3X4O>F*%+L;#=34R.LR,6/18%_7=R?QJ"X1;6-<0ED
M#*,WTBB^)C`QBQ<<HASC:,0Y_O\0@W8$7+:*>$<"BL$`!RC(?0@Q+0`P`#V&
MA`(.U2@5G?GQ59M(GBTPP0RQ*(R1%2(CL;)PNPP!!&_)PX5U"``53$9HD6X3
MBZHB>8=**L`0((K4Y&9)RUK:\I:XS*4N=\G+7OKRE\`,IC!Q*8%<]@*):&N%
MKOB@`$-6P`.&/,`',*`@(CQO1J:$6!M*YX1K&E!)/!29`OM8QW*2<X]XI",Z
M\Z@RM;GSA"XLPC&?X,UL+NB,)+1"/>TY,0#5<)_\'(PCW:A$,^I0`G?H4D#[
MM<&XM>:#"TT#-HA0`%Y,5!<K^!\J,78%@%9Q6#W<X3A%ZL,8AK.D(9T@']L$
M@`K,3BS_*ZB`[V:WBFE005@-38)'/YA2FE%0B.;,(5#7:4X]"E5<\4L>8_+@
MO`,BLXQ5V&F%ME$-N?D"$1%96"RJQ]6M-E,TBIO"V\(JB(?2:0'="U2F[+>"
M532@K?UZJ2<W4PC/L``#!`&9QYZ8PA2M`*_?1.%U3O-0`H0"%V`U*Z=NL8+R
M\8*Q["FE&_?:43]L]*.N>>@T9-&5\3SL+#C$)S9MJ$_%SNFA?H@$Y@Z[L<M>
MJ+)5(*D$?<K'O$6"!6H!`>E<\`'2&;6=)Y6M#E4*FT#>SY,`"$$AE<O9LOZ*
MFR$,(`X-$$FN5D`6+KCN'5Y9!*F.-J)H*$$"QDO>\HZW!#?=_^1:W!/*ZHER
M1+*L93%M.=]AVO>^^,VO?O=KRPVHX+\`#O!_-U#+>3YR;(XC0BNQZTJ%_96L
MX(5#`@1,814DP*!C4"92Q!+-9AZRN=UM#1LCO(4)5SC`%QYQ&UGAU!#'=JA'
M31Q19_S;<<98G3>F\10U9.(3__?"7;"3%+Q+8C?TV,=`QBR&H5JE%GH7CD46
MPY%/G&1X>K"T45[$E"M<932N+:=(&$0659Q-`ARS&H;(%WS>Z8(M4[C+(,TG
M08]`9`B-(`!XSK.>\2R"-932S%==RSR/<(";0`H!W"F`:M.:!#<+&,X%G$(L
M30O1ON8XQS7V80!:P.E.>YK3`SCGI?^7A%88:2($$EB%:%:Q),?5#2VAH58%
M%-V!Y^G,T2BVV9Q5"+*U4#K.3@61!Z1$HGNP0!9Y(T0'B&O'37_ZV:'.M$F%
M1%@1A<!Y&&#!'B:34)FMX-4$J$`?6%"!9F[HH2/$-8"[G,:<*33,E-:B$]!J
MG6CR`5*>70)WB7"/UQF"D$IP]K,]'6HUM*8AVS9D6]LZ:$'D8CP`P83$/ZKN
M'T^67;`]\%/#?!;,M09X#WCK$NA=!$.J!W83/X+`!PYJ/>!!3R;A17V6<'"5
M[)87V[WD>@RA6M'X.R9,J+B%10L%,-L,H5^T-)TW,0I<'2`64$\YQXG@\>01
M(.2'*L+*65[_\"2H@Z+7@!]`L.N$4*@J7W:(1#-+TP3H.@%$0H?TVWG]=E?5
MF0I[0(N"[^2\3'%'#TRWB)^J-XU?;WW@74<"]N39.DAUY9!.<'L<XIYTTD;U
MUU<`M*J>/CFTZ'SI>J\>>[CC=[:KG.4$MX01'CLZ!7?CUCY>M]+%^AD.1>1@
M"#C`A@[F8BX@B=A]"U.X67!;O7<`EL??V^&A?2;`DEM/+`#!-8BF#`_8.+@_
MA?`0*`_A``H!K53?0RR:R5:6]+[%B?C\$Y;_Z<2'.2:Q<ZR9)WD=[G,!D-[L
M2DO;F_=)BPW82M8-[)=ZW50*(C``")B`"HB``6`S01)W1)=*$Q<(_Y7T%:#C
M(I%27[I$-_S5@;IT`:C7:1K@@;AD`GMV@@%@`KL$@B'8`B.H2_X5>RI`8+34
M<-K71@=7"W>0%G>@'M9D5F=A!XA`")M!?Z\Q@)WF?F:`A)S6@$S`A"U@`6MC
M?[TV-N<3">QQ!UE(`-!D>K[0&G?2/0WQ.WGG#`2P;ZX!A4I8!E#HA$N@ADU@
M?R.V34,&AO?`>+)`.FWE.KKF(B1``8`8B(((B"B`4B.%+7`H;3WE(FVX1W`(
M852(1/_C3WWH@%]H!)I%`"`R4\.#!(^X!'\XB*)8B$_8@BVPAF+0B*78@JCH
M(9%X@Y;W1;L'`#"24#)U+-<@"\K0B:?'BO]-\(D!9XJM"`:J^(;"&(<R:&%>
M8'1E!2-\$#FZ$G/SQXN]&(+#.`3`F`39N(2FZ(;!Z(M!EXQR1P5@)BP>E77P
MI#/;6(VH=XTNL(ZIV(V_>(R!U6;B"(MWQ&25&%9W-P7PJ'7T:(S@N`1WAH)Z
MUF>K&(+>J(T!J02O&&F79P0%F6<9<(((*9#6.(\#^8T9F9#MJ)$*"9(?^5W;
M=X].`D*4^`3:9E;;Z"HLD`'"V#<PR8I^,Y/6^#<VV8XXV8TQE)-<AXPR"&FN
MY45HY%!&\(]$@)38V)`,N9%-V9$8B7H+Z8E,B000&&2PE2*)J(Y5R8X_Z9%?
M&95AR9%2*9)C:8G_#ZE!LGA^2^F45.F67HEX9BF78$F78CEP4QF7T`:4L5=E
M6`1AS,B6[]B5-**4@PF71TF8`(F8BQF2=;F7LV>/0;F,5X!TC3F2=PF9F=E^
M<ZF99'F6;^F8FYEZ9Y.6`>A%9W%=H4``'P`"^G$H^P2,..23<GDFM+F78G.;
MG`DSNDF:5=*;G=:`,(.4&V*:8A6&>W<[DJ,`JC9/U]0A:K@VACF=BIF4U=F6
MHOF9=NE.5_DA9&0`9M8:[?45VI91/YB8C&F=Z8F=F*F=GOF4[0F?+)>7Z`F5
M#FF2=8=962">[M6?9;@6;S5++!B"+YA+`XIZ!8I+!\IR"7I+"SIP#6I+_P_Z
M;!%:2Q/Z:1>P@J98H;04@[%'@[-D@U9FA>(9$=`4$<S9!\[)DM=YF/8IG]L)
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M*8<DZ:,]ZER_*JR].JC/^JK1"JR?2JVP2I\C`IR<)H54RJ/)FJM8QHAP:HK<
MJGSDBBYH:B;I^B5M.$6B"JU%8)Q%:86GB4VI*J>LZJOO*JW-6JO!&IRR&JL5
M]*A4II)?AGY*4JF[BG@'EJ_PNJ_6.JW.VJ^S"J4"ZR;R*F=XQZ)P:2,.RZ\0
M.[$AZZ_5ZFFANK`@6Y*WVD+@&I$4>[&(2K+#&K#$.JXMF*<@`H7E:JO>.I1,
MP*8ZQ;&:*K$R2[2<:K$UBZ_R"&$Z.X4FZ;,D>2!$*(U!VHP;HB$?NYN(>(Q>
MRK5D,J9BNK1(^T&O.$;_!]M=?$!\=+6<*G*O0_NR2?NV(WNT,4NW_UJQ=0NS
M.%2V:CD<[3&>V5:DYTJK=ENR10NW-!NP)SNG^JJRWKIQRHJ)XPF$`3HY%^II
M$:J!*W"Y(JBA+<BA`KJAGDN@HXMZ&?IML\2!>\"YG)8"FOMM]>6A/@:BDR.B
M5!03N>@\KX.BS#JW,'NWOVNXA3NSA!N\U[ID3=NMD`JU9-4&&E)1QV)11GB>
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ME0:<PRDLOG/'K!7\P3\\Q',<Q48<OP&;`5C,LTA&9BZ04UWRG%6L?5!<Q.0K
MP<6+Q!T[(J5:>?KHG4W`P*,Z(H5LQ30\R(E\JLF[!`>,J[$X!9(\<#<LO(:,
MR1%\RD>\QSB\LJ]E!4]\ODBDK:5<Q[-<R8H;@,?*QO\ZZL;E*PO0%<HR7,!B
MHK/=0LSE8LP0!+^DW'4P1+!<1IE,D!^*Y::T;,DP;,N(;+&ABK5)?(\:M\53
MUVW4>\B8A<VHC,>9?)*YS,K217?`EG>*-0IY,<_T7,_V?,_XG,_ZO,_\W,_^
M_,\`'=`"G<\G@,_4:*4JS`1O54W=EZRHA"/URT4N"4.:5$,;5`&OMLM@$-'^
MPM%M[`T\O`A>X]$$HE%^_-&0>P4I*6E0!+4:-5RTE4XZ=HB[UA\([,ZHHTFF
MM#;?3$,G_<;N')DW=:H`"-31Y<A*8`=G\9^M7-.0C`2O`W/YX="NDH6>P1[`
M@X^;LPN!DC]1$-6]T!!28-7_GW'02T#66&U@HD`(5^W5*,T)#G`;D<`9F*>Q
M-T006&45;OUVYL<!DW2'46!^L\,4Z+@$6?T[@2)R@<T8EK/7$-4`&C([JUG7
M1R#8EG.!7G:U&K(A$2!N8\$"[D"+';(E"0P&_"EUVO>??N`!A8U#JCT4MNMU
M>X=O4?#:J`UAMJT`$D#14\=538$(BZ0SQ#`M2^$.YF=`5]MD*Q:I"CQQK",%
M4YU7G:1(^0$ENF=L$]1M#/``&)`.TY8A'1`*4)(A"74F11#=JS#=S0T?`P)Y
M@#T%#(`7LC((6^'4!95!4E!1SV!^@1L%NM()Y",:VS"4_PT*EC,9^;T`^[T6
MA:T$_P6N%I1]!`^NU))5CP]^X`VN?>[#%TRMTF80$1W@'E!!P49P&F=8516N
MHR:.A2G.!!$Q+9(0VTFPXK6WK)^Q&0K``7O0XNY$X[F7PC^-P2=)U%JMDM$5
MY$*=':60T^]6Y-\3Y"T]VIL-0)H]VDR\!21M122N5X?0)Y$P*M?P``]@6%NA
M?M_,C&8+"X:4.7J"`-0W!`P-U6N^A6O'"4R`U2Y%".4&`!^P(00`6%;"`<Z4
MA7O>YW"^+8+.`'G>4FM'-,.C,6GMYGJR=KI%V9'>/%Q-"-0X9FBE`+*B%XA1
M$)^R&<GM-T'MKI&'"-3#@_9A$HSF/Q&WZGF@'B>Q49.]@_^S'@B)M`2W;A\]
M&`B+P>MJCNL]"%9I?CZOX^LF`2FQ_;S#KNR`0*3(?03(<@ESL0>T$@$0P..W
MZP6(=&[)TU@1CDC^N0=Y<$#.PW]K%>'I7N[B'GG7=`D+%^=*T.X6N`(HD=67
MQ=JAQ`(2(`MPI=$FX3J&-`E+,1;:(V)7;N-6BAX2YQ47@2MIJP3H@3SE'M=A
M,4*=Q'\YX71Z$`GJCO$9[@L@7^ZW?0024/+W3MB1K/+R'G&6]50K,!?3`0$'
MH0`0``%CL1`C_[-W[0(<\%:#75?DQU7[B`!";SF%P``2<-QU3>%*7WZNQ^L"
M'O60XO1,`/7D=_600ME:O_21TO6D#><J7U]^9%C7('(:>7<:C"$?5I7DGVP%
M:;\':48+/U[C%$_W@4(+O,<"'7#G.[[W@K9F9QWX=\][H:<$*"[X5Y553[T>
MAA\(VH8($B!N];CXAX]5NSWD<L_%1,G<1EZOC_]=KI7EBB#E:^2=4F[E(<+Z
MELC+;++1/UWZ-&V(,6/[WXI-M!]8;Q0^5[+959[[(QK27N8&\H8=/.U[3@Y`
'R@\%00``.S\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>9
<FILENAME>u49809u4980908.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 u49809u4980908.gif
M1TE&.#EA_0"P`.8``':35XFQE^?!J/>#.%5UB86BI4>$>F6IALVPGO]E`.CH
MZ#.:99B8F-K:VL+"PM34U+:VMF5EFJJJJL[.SKR\O,?'QZ2DI("`@(R,C(:&
MAN^B<)Z>GI*2DM]K((F]HK3.P5ZK@Z*BO:^OKX.#JSV>;$BB=,K7T'.TD]7;
MV)_%L=/3T]G9V93!JK_2R*G*N:.CHU.G?#^67L214;]R0&MKD[N[NVFOB[6U
MM<'!P7ZXFI>7E\W-S:BIJ6:,2^?GY\'!SG^&/_)H!LQR&=AE)EF04DR36-AN
M$IE_,K)X)=.9=)V=G8F\HD*<;L/)QH2A<%>78#Z-<=F"2NNQC/&:8N7(MI>'
M0)&>:FN?A,C(TKN!7'*)1=3;UX"`H^'8TMJ#5-RB@]F98*VZG;&K@<>TD$]\
M@EMND):6L>/0Q..69*5\+&%HEIRB<M#0U[&QQ=R\H,IY)YF9K>5K#)JGH.^B
M;XR".+W#P.*E=I.YI;>1>.J'/LFL@J:G>;"PL,C(R-_?W^#@X"'Y!```````
M+`````#]`+````?_@`I_@X2%AH>(B8J+C(V.CY"1DI.4E9:6@I>:FYR=GI^@
MH9*9HJ6FIZBIJHVDJZZOL+&RAZT/?'V%%'R-?;B[CKV&#1(,#!"0$[/*R\NM
M?1<<A`T7%XU\N[_6V8,8MPX,$L`,S.3EJLX,&0^#%!O5?PT0?.N#$WRZN[CL
M?`Z##;H0&ORY5JC/.'_C]/V9(-`>A'40."3[T^>>OPFV^NFB]T#>1',@0Q)"
M9X'"H)+5&F2PP"=#/P<9^*3;]8X#`SX8PG'8(',<04(/,E`02(A#OVD-^L2T
MD*$!APSA</+9$*T/AIL9-EB0T%2E!*X*18IEAL[!AD%-JTGXU2<:!WTW__]4
M^S;H@84'X095^TF(0@9H`?]`L/"GW<"S?QPD':>2*`,'2@=)(/R'02\,`OO0
M&\MY%KH_3<W*K6RS6+5W`VFF-E21`8:]VPA-B!CM`88_&TS:OI";8L(,Q5S?
M.OC3<F7`1#LK?_6Y9,G1QGH%0TT0-E"EMQY8[VNR*"X,D0DYX$K!(,6WTA^8
M7UU9GST,E)?+3_79;-/1$!";WW"L0;?1$V`&STIY4;#=(%81Y=\Z$L`GV3%_
M2`#!>AE,9-EZQ?4A6F*(S>=A*9^!AEA*KJ73CVT<8,"!:A$")U10#'#`P04-
M\'523CA1-L$%_2R4@8P<-*`=87Z5Z-L@&3IU5?^%'S892BL-3(01@K+UD1Q%
M#V1)T77T))4,0UH:8L\M0&502%(*J>=/'Q-%61<]#"%HI9-T>M**2!-8$%^=
M?(IU9TCY7=GGH.7\2>BAB#ZIB!]^#,*HHX0T^L>CDT9JZ:222EHIIHYF>BFE
MFF8J*J2D@GKIIJ:6.NJFJ'I*:JNOKIHJK*R&VFFLMW)::ZZVJHIKI)H:8FBB
MQ!9;22L44!"L*N5-D-<D$@A:6%QBL5E8=YK,=NU"P173G0,SKD14M,O5LMDJ
M#9RUWB05'<+CN2`9%Z8F&PA$4%O2:998!K@T8$$T%,7F9T&^3+#!8W59`(Y`
M-3)P%T4.R$2!P1M,9-?_38):M%X?!W<WC,/)?&S!1$$6PL<%\^AB6<,//Y#L
MP@KWF`L#&^@S7,4)8US8-\>8Y7!2\*FG#P4TVVPPPH+1+#."E-U[4"$8?%19
M=R4KLRPM)M-4,P07/*#2+0=75G-+-6)`@0.\.0#!;?[=HK`A`IJGU-DK_J%G
M1;?=C9-DV`Z$\I`./%`TV=A9Q<'9ZIALE%^X7/`8!%UUT\?;,4KG$L<66'47
M07PLSJ]<6W=-P5M^G6M!CTZ+>5LNB$G0=RR]"INU7.OX81D%%C3ZCPJW,5H2
M'Y0A70T%+TB*`3U^/!"-'P;Y\8))R=^FQ,A^J(#;"SO\\4"C#N3>:35^T/@'
M_^^.EF35("+DI0,NCV*@0J/$RS5!HQ;44`-AC1Z/M`KLUS".<7P0P1_<![_B
M=:U1EKG!6ZI'*@RL`$GYH`8U=.`;434O,=[SU:YT-2M9G<H1K;A&^`AA&1NM
MZQH9THO?)'@!A6SL?PJIQ@08<('_S+"&;'F:"D=S)`ABZ!?&(01JS$.=:["P
MA4'TUXRNTI[5#'$<J%F9!2X@KD(4L8>$6-<@Z(+%L820#R,<A&4@\"S(`,QN
M\@"B/JI!1J`4Y"#[Z5%0M*<]OTS)94S2(@_?,8$S6F!"Q%%C(>Y3F+.(+T(0
M:&-=FFBWD1T)@+L@I&&B:*4&-`!<$-KA:O0(&M-!B/^3(?DB#]L3%%PHQ3_'
M4(HM!#F:4E*$D/!8G7E&YS4]#?`8MK$-+H]7F&?M$#482*4Z?BC&L.A)2(>3
M"V&LDJ7/G3*(_-&>32K3#X(<4WDFH>0QT]4W#M`C=8;H'%'\,DY?#HP0U2$A
M+ASPFJAQJX;59.4[V`E/0WBSARVY@`4:\AJA+*2?W3F=(=Z!FAMBH!_$9*0_
MIA@3O4B@GHEI9S^"&*`:-D@P%\`'/!CZ"THV@(87,*?K(-A%0G`E1NX\R=)D
M$;N1+.)JH="%)ISR"M240W"0\-*9S@@+F")B6(OZE*LVV$$&-`!40_6@8&K`
MJZ3RZE1*Y2%2?]5!H5+5@]3_>^I5EVI5#G8U=LNB5"3^Y--#1+57'9S`_,ZJ
M564U=:L;I)6F?C%5HCI5@VCUX"79ZBNWXO6N57W5)021K\)*IP(5,*QB%\O8
MQCKVL9"-K&0G2]G*6O:RF)VL[#++V<YZ]K.@#:UH1_M8V25"K,9*+9]D=352
M2$$#L-7`%T)`6]JR0;6XA<0'/,!;WII`%655!"D&D(#B)F`($4AN<G]0%_Y=
M0S-\",R6%)&E7LR+$37*[3(\L(#N=O<#VE//<^,Q#V0@]!`-$"`BPF+:/Q#7
MN,A5;@282Y%V_6$%+Q!2\2BB`K5-RF4XN`%&5'"-!_3W&!6`P`16(()^^,$>
MZ<4?_PX0S+P'W*`C#O!#(@,KUZ\"]JX=_BM<\ZI56''7NPL`;Q\JL`O?/6`%
M^QP?'Q;<X$D1>'X#Z<.$I3%CX&V1#TD!\BX@\!(@#V*XQCVN?.<K)Q26!TE(
MZ@.133F>8?3BN8F<S3XEE*R36!D7SDHD-C2D8`A00`*!T^XG3NQ=%5>DP&Q9
MIUW,_"V[;%$7D)E4M#*GCYIIZ,UF'IF?CTR(]Q8WOLJE[Y7K\HNFY:N^8WYS
M113#N0=L*!P2"$9%%IWIBEP2,HY4<R?8_%U($Z)I$#FSI1%CYF>M\A>8#@9%
M$HEF%#H@<%*&$"FF,(!>#\`+(PAVL+%0CPE@:SP2F,C$U/_Z)6,71JW)4BL?
MHF62B:V%'<E6*Y*H'5VU#@/(7Y&6J"N1`A"8V]PM6(BSZ_&5'N'#6;_0*#O^
MT1UG+1M)/+"'"&HP%`D(<-H3`>JX!RX2$@NW$L$EN,*;8=:@FA7$?*VKP2?^
MX5^%6*X5CVO$-VYQCGL5KX5HZ;$63G)$"9Q5)4]Y*5`[5D:@,$+1Q0L_5$YS
M2S#JS!)80<0DT)%]]J*UC%@+FZH9&('5_.B.6,?$=A$/$236Z'\PE*9,8N8*
ML`>,8D)ZS8/5`.L59&2_X(?KN@>OJ#/"E$0>2-%#;KO")G;%;W_[B@_;"\36
MG>YPKWO<\6[WN=_][WV7>]P'_W?_OP<>[X;?.^`)[_?$%Y[QAU_\X_FN>,?G
M7;$04"^55A,/D@KLY#<@R%H>LI:55D:P6D^Y?7_,\YU#1#V9P]I+(Z'#U--\
M];0"(=LO47O;D[Q1N#_MJ@IQ<D=0JO>^)WGP*5%\0Q@<^<G/+<LKDG!6"/^#
MBX`^:T<,U1)OWZX=]_Y;P:]Q\7,PXV`UO\2Q7Q"HM[P1U1<CL#S,_?ICW/X3
MIS_YT__Q^^^_^_WW?2+7?IO0?)``?=$G:L`G,`/X4Y^`@`DH:LO'"$`7<KP7
M@<2B)MJ3#-(A+>W"<N^'"&(U@KDR*1"(@1\B91&C-E/F:<LR@2)X<-=7@J>%
M?/&'@B#Q_TWW4&_LA2#N!PD&^`A/`U/K!W+X-W[Y=X3GIX07)X!?!8"!A503
MLT_&Y@=0QV(-IRN,$(2.<((X.!\*-A#P$!"9Q!H_^`A<V`A>^(7*,1[W4"-`
MIFWK=8:Z9X$T^'"DLH:S\%'P\!7=(5-L"']FB'HQZ(`S^'^GQQF3\6Q38FQT
M&(B'`(,AR`E#&"PW>`K8<#8!@0UT8C.W@`\]>`A,)W1O5G:;P#QG"(+M18G&
M!W'JYW%#=E3WL!;C$(6N&(!(^(2DT@`OH"[ZP#U'-7YOHV/)``$[4#M0.%1W
MF$5&%US+<G+RL$\L00$R9WIZ.`M,=PTR\X@@84E#IHW:8WJ(L/\+R:(V_#`A
MHA!\$>,'^-!S:&*(=D@E&L(2'6$OAW"-D#B.)B.&CK`+W_1-C_`#M360M-4&
M6OB!=X8-9I9C,$A6%LASN'!M_%@(O7>)D$B.#'$,W)@/1$8!1!:&CA`"2R9?
M(Q")`K,+BF%LXT$!./`PJX@(-2(DVQ-=*V"%*'<A<D=:.KF3.ED>?>"1O>"3
M/-D+9C"2RL4%AB4/HCA=8<>)+WF/!;86U%AZ;`>!JL@+"S%C`2,UB&`"+M!;
M+`!>^9@((IE<94``!*!<)1ERP6>3$<,#`O$0D].#:<@(UVB+"Z$$V.`'/`<!
M?H`_KF("2U`"*.9=).`!6Z"+B.A_FK+_`X3A`.EC8=.VF$YHA)29*R90``8`
M!=X%!6IID@7H?!?X">L0;_%A3G_P`390F*RY`"3@`K%@"U$QABC)E6+1`BQP
M`H39FI\YB!8I>XJIAHA0C1$3:H^0#6'H`%+S`2"`8B7@`1^``H.`F[NY`#D@
M"TYY+Z'(#"CPE<W9FE!@`&20EKU)@)``@G69?;'R"^@XD?T8(8+1$1_A`M_9
M72<@EHC``M[%`K'`B>25&!.Q6S9P;@3*6V'Y`0B:H`J:H.DV"1^0`AX``M59
MF"#@`06@!D89`6NI*9+(?D\IB!^$?"KH/0\1";A@"]#%!SR0`A-Z`K_%""[0
M9K"`DM/6$=/V_P$GT)HZNJ.M20+F=@*]%:2\96X36I@E<`(LT*!_4)9&N9;F
M66+6=PFA@GQ98@N"89N0T`*[59_V^:*.D`+=!0/DP)R%Z:,$"@(PP*-JNJ:M
M60(5Z@+2>0A,.I).RHRA:7Q=B`AY,F-?<0NN`BHH\`%?&:%<BF*':0("J`%)
ME@!TT%U',`?).&+H1P@HD`,H9@,I\*)H90(RT*F>^JD*R@*\=0+FQJ,QT`,`
M8`5[T`+?-PASNF1U.@A8J`D&&']W.0@F(*A+D`.ENJ8D<`(IH']^H*A)%@1%
ML``Q8`>1NG^3^@<HD*9=BHN8LJB+RE<"0*U)YG^NFJ$:"IKG68&2H/^*M2=6
MN<I;`TH";+H`3X"J5K`&8C`&`A"O5/`(Q)ID2-!=`1`++0"M,("?CH"MQO4(
MUPJP"?`(KTJ2+]ABOTE\67B5B@"!2["F,``".>`!+A"=?U"OU#H`](JMQTH"
M<;H*S]I=(!"RCT"P!>L(`PNP!LNML1HP%)APZ>E\DL(`5_D!WN6F-N`!![H(
M&KNH'.L(/UM<][H`'O`*J[D`)T`)*"NP34N!2^JR%KA\#@N/4"N<BA"H7@H)
M0VM<0=L(79L`'[L*5!`&W?4$;A"O\=H%)TNP3NNV(2FU@TBKCV"KAW`&L96W
ML=6Q`/NUC!"V:=!=P9H*>7"L,6`$BRH`;<O_LBK[M/%8"`=;GG9:MXF0GC[5
M>RN+K2,6M@DP`!D7MD$0`PM0`N$GK44X*4[@J-2JN);9M/F7N=1*B(80N<GU
MLO:UL"Y%L[*KGK<"NXO*M]CJMSY+L%707;!Y"B;0742`K:S;"([+"+Z;K8=(
MN]TZMR(8?V2EC+-7&<L2O0$KM`0KO(K`N6#073:`"CFZ`$+`O(NKN8T+MXU`
MO24)*FTY"3.KA?)G"-Y;7,"[L?V[J!J0M%L+"CB[`#T`L,W+",^["/N;LA0H
MO]YZGL#9BO-'D8?0P/^;9.*;")RK`05\G:60ONO+OO\*O]"[P(H`P=:[O2A'
M:)(@#ZB9B(6`P>#;_[<9;%P:\`=I2@*ED+P+H`4$F\"+@,*)0,/Q*[=/FA@U
M.I>=MPAW0H3[J)SW>,'/2V*<R[&VV,%_H)\+$*Q)N)B6N@!O$,1-^`>.^WT-
M'%:(H,($*"E,)P]6*%TRZ*'A5%_W:%@(T`%ZO,=\'%E)P,>`'`5^#,A\G`1]
M4`?==0"CU03HR@110,A[C`"1!<E['%EY3,D=$%EP0`.<W,F=C)2%I93HA"0/
M\`)2AF9.['"BZ`=2C"HZ@$*PC$(B(`*P/,NQ?,NXG,NZO,NW?`#=)0>YG`4S
M,,S$3,QXL,M7@*^\O,S,W,S._,RV?`VT'$`BP!(FXP=-?`L=6I>9]RR:8O^5
MN+L*!7RTB&!HU)K#BH"NI"M]/H5[K@<Q_G(#J>P)^"@6A+G.AV#.`*P(8+H`
M_/DA54O'28RG'WJ]6!NS8W%BQVL(^IQDZ(P(S0FRJH=U@_6`%&R'?%7&2PA^
M/KRTMM+0.+R$+6"?&JW1IYO1PR>:EB")`>W"V$>$,&6#'Y*T)CL((%U<#VT(
MZ3O`A&*1]3L*E$""DT)!^/LA_3RXA7#3"9#3E$JR"F<K'8J&%DTHZ"JF#$VP
M3#T()X;4`!T)P175=4BYO'N(+6P..WW5`)O5?W#/Q(*[U(?016UVIY6%#WLH
M(VV=:(VM6=W/Y*Q:\0?642K0>:K25_N*DJJ$;$W_*4JM`:;RG=+)81Z'E^5'
MV'1=";CW*"V=NX)-V?D["9;8K(RIF)+"Q1^@V%@-*G>]M-)JTI$-A:%P-9>]
ML,5WB;5(*!V=U%BMT]VEI$T2SB((V%O8"8P"SA4\%A$=LHM="#X,`G[MTRW&
MPI7KU<%5SYW1S__L7KE-"`H];@F'D*H,4_>+"!4IP2"ASH66W<YJWET-W9(`
MW//\N(7=V=\Z%F$LELD]"%S,U:N%<`.]C'/\09DMWW5[-959TI%]V]B=UI5"
MF#QLNJVMA$)MT.SMW^[]WV)-L[5=B&5MW*XIG??-U^O-WR]UN^$<A-IKP:KL
M(2!^WSM<T\KAVQMNO>M@_TD+82U:T@`KL`*"`E2*$3'8\(;7,`'Z0D+&PN`H
MD-P%K-I:9U_4*#@1:2U?P8^Q`50"9!*002;4.!!^H'DR[-\:'A)\G=S?R=/S
M4;7A;%\H"1D/H)?QM&YR+->Y,@';N&D2Z90"'M\P?@KH2@*+W<]*/A:7".,<
M*@*-$F<TGN;1Y7-A,2RR-C&''G;N>2&=%7F-!WF4IW>3=WF"UPMWH+H`BP9,
MX)I-H.F77NFEONF:7GF,YW:8U7?YXNKY(LHM9EV^T&2/IMEBT@^N4P%X41'V
MX%]T93LQ'N`B09@Q$`0`6[Q&&^+Q7=F)@.;%)AAD(AB)$0YO#E3YT`N6I`\/
M,/\1VT#=\]'/0("M<2"Z$NU[3&Z*NS+EIZ48A>@'O([BQ?VX#5@.T#K"248$
M@KO?<0W?\(>*;N3E-,ZP7WZ`%Q[C(7'7AYMD0.#4T3>!Q![>4^P)>0X*J8NL
MB!L$#3^Z+EYP\R[AGFV&)R[5(#I[5AFNRRK9%$=5`[#Q!BRZR*H'D0W:7YS2
M'X^'+U7O,$NW-T][Q-XDQ.7RRFL$:KWDW,A^:3C=G+W98_%>0M`#,4`$2(#3
M?5)].I^%41W00)5P+*>'!L<9O.9K8C\`4H`H%6^'5&N1$F\(X.[L8SG7J`#;
M1V_AFG#RX7KV2'?U_0[RL$WHY%W02R^"1/WVHH#W;J__"%DOLZ=8L[?R\X4]
M\TRX`JW&;?.P%KO@]PY>NBH_\HM_]S[(]-%=\(T?TQ?M(0&A=`ZA&_#9RKU-
MQXY/*14>^IW0]F%E^)O`%B.3DM468W,?]Z^]L!`_B9M`^[IK#OD09<@?#+U_
M"I\MW3B?XI_OU1/,<L1N]R&_##3:>M-&7N'@,AYB^`DWJSG_WD$=+'=)X&,A
M:XOPYCWU"I<8^U;KV>8?X<\O_1M=\[E(*A4`<>P#"'Y_?X*#A7Z'AX.$AHJ&
MBXF/BY.4E9:5A929EXB#?7R-EZ*+"IPX#11\H!!\#BNJ$WT/DPRCMK>XN;J[
MO+V]F9N;DYV,OJ.??PT0%!(2_PT.?!(/$!8-?7U_$`V4I99^(ME]#2HU?WPU
MLZ"@A'ZUQICO\?+S],7P\<3>PIZK#;,4$T`IXW-MG3)NER8X^&.ACP0'V%0-
M4D=K5+YA]3)JW)CQ(J9]QI"MZV,AX$0'$B@XL*#"'$)+U_[,^A1Q'<5%%*[I
MW,FS3X6>/G\"'4JTJ-&C2),J7<JTJ=-K#BKX`=4'D<2#4RFN(Y5P(8]/#1I*
M".@`PM1;(#FEY<BVK5M\%O>!<B""QP-HTK(](!GQ):1%([=9&_1@PD1];R/9
M4TP,6*C%?]E)*M;8$67+CB5#ULP9DK!]:R?+BXD1)K9)W2PYV'9LUMO7L&-K
MLACW[?_IR)5N<\UEN;3&S[*#"Z?G$:VO?:DUA3X._/'PY]`_ARY>VQ;USI62
M#UL.O;OWCM]Q71^DG5=:8-!:#<*QH[JA]`M94>#%BL^$!LU8YVJ@B@]K@+L$
MQ`<$A,T7H"H$IN?1=?"9,U9TNB17''>C3$!@-A9NH-M'D^QP(000^<%#9(W]
M!<$.@EA0P0KF9%:B(<[\L8($?TSP`C8N*O;"(!:B)`)FCW5B@2`6SA>5=)98
M.`B($YS%2U@,;+7,+A225P]U6[E$6BY9KD.C+EM=\X"&NVSEGP1;WK*E3;NL
M.9%^MW3YAP19YL)`0QR`,D$&=694GG6\4.#:-']L.=X@@A+_HH(VVI2)TT)S
M.CJ(!!OP84&?HCQ@8*0NZ:+I(C0"R!LZB#S@'Z<@(2*(JGY<@$@%M6Q`)ZOL
M''H/:FIY\^1##&`PTX:VX.=`KQ-8`%&`#W'`01\@7I@+!1!`P($%G@`["A_,
M8&`@IM=FRTQ.K$TXB;#$HOGEK95DH!`?&T"P`0/NZ"K*H7_JDNIDL0RV`HOR
M=D),OA"EF4L?$TSP0&&]6'/7(`W`B<M>SQ#6"\0!B\-+ON)8NQP%&7!P`01[
M64"M>%5:B=:]B94<7G0J<V+,7@]\>7!;]:YL73`MVVP,A;8*E[-?HE'Y<\]!
MNSP98R0B+<F+FS'-&)#8R:LSE;X!_VW/O+JP4@TK--)YX00;C*(U?@/.6?8?
MJ8Q"YT/13!,-PQR,$G-*>-W5=C)Q9]J,2FUS;8Y$HD!3DM]<^W'IIK-I/0&=
M#M2="A^NJ>6OJISY2[4E-?],254%_>&`2F?QMY5'V#"[D'VG^S%!VI?,?!4K
MGAOVMBBGO2X0@;-?4OOM<RU.T#$3]3X729`#W\<&#625#"M3!FL!`ZMM@'P#
MTJ,"KV%&1\@;8K;02!5!9_DW.DAH1A03'Z]T*HKHP1?:!T#<3M('-.V;`[^:
M]/_M_GP@VP(R5<AX'S:^M!8ZU:\5#5B=KA!Q@PTXX`(O:(;(),@`"(A#<]GA
M2";XLXVYJ/_$',7B`P,BAQ'^K$`A(#P=,T18(=PMKW>58H"U%M$XEPQD>3&<
MX2!JR+O8E4Z'V6@/'_R``Y,T+AVCX&"C5.&'%5CP,/=0%048H(,*5$`',H05
M!BZ`@9;4HV;TB!+D_.:U18!#%&*,&1]N8#9G@:(X#Q!CW?P&Q4LXH%)\DT;=
MZJ@:/,[Q;?69#:CHQ"Q`OHT'(D`<9\3HD%;4#2_)R\PD*%`-Z`W+DE$R6V\$
M>1FKB8=[4]M,)YNFM%%*LI1/*]HO,,B(3?3A`O!R``8PT+A9#HL#&0`B;D:A
M'4G"Q3E8LQ<K0TF;8'ZR:$3;2TP*QB/LR>)J\0`C<;+'R5\2\QW_TSD.A]!U
M)5Y($YB[K)HUKTE.<&)SF%^T&7>85LURSH-HE]O.`O.Q*LI1#IJ^^"9OT.G.
M?H;SGR<3YV\`:K)XQO-0)>M9CHZ6-(9JQFE!P@W4BJE.@D9-:KLI#3R-*4^.
MWHR:_@3H1CVS37Y2E![Z#*E*0XI0DXXTI:`!C4$QBL^.KE2;&QG/>8234N/4
M])B`NJEL;#4=DX(TG[_8&<_6:51B3DYHQ&D94T%YB9Y:5&I/G5=SS.,(B#X4
M:EXU94/=HQRA7I2>R.%D4U-F5IIRTZ=J98Y(@8H+!=CUKGC-JU[WBE<?^("O
>@`VL8//JU\$:]K"(3:QB%\M8N_ZUL9#-`VL@```[
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>10
<FILENAME>u49809u4980909.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 u49809u4980909.gif
M1TE&.#EA_@"T`-4``+"PL/>#..CHZ)B8F.?!J-K:VK:VMN^B<,+"PM34U,[.
MSJJJJKR\O)]Y8,'!SJ2DI,?'QX"`@)*2DHR,C*^OKYZ>GH:&AMG9V7EYAJ*B
MO;6UM=/3T^?!I_>#-\W-S<'!P?%],IV`;JFIJ9F0BM6OEN.69+N[N^7(MIN(
M?.^B;Z^OO.'8TIV=G?&:8M#0U_&:8>/0P_%],>NQC)"0DV5EFLC(R-_?W_]E
M`.#@X````````````````````````````"'Y!```````+`````#^`+0```;_
M0(%P2"P:C\BD<LEL.I_0J'1*K5H%N*QVR^UZO^"P>$PNF\_HM'K-;KO?\+A\
M3J_;[_B\?L_O^_^`@8*#=@,1AQ,`6P.*636'AP,%A)25EI0#-5D)$@R;%1):
M-0-:#P^7J*FJ=9FBH3@+"+&.I+2KM[BY9:U:$5D3.`H5CA(U-0@2C;K+S+F\
M6;X,R0`6"3@U%@/:!LW=WJC/R#@#"P``%8JCW^OLA+P*$@CP6@46U[7M^?IY
MAHC<#]RT5&"@;I_!@P@3*ES(L*'#AQ`C2IQ(L:+%BW1LV,BRL8""C3@T<@0)
M,N3(DR8YHA29,B7+EUI(RE1)\R7)F"MOUIS9DB?,_YTT>Z[$"51HT9)(AP;U
M211EFX(8HW[S`&&+,5LX"M2PED4K5ZE@*SV0(&%"@003R%K02DI!M@F>%$P8
M8"%@V+N!(EACH+51,742%&0U"^"4`DUX$[<I209`A$19#8"*8(P4I$-;)T2H
M(%BQYS1)QQ209N!!A1H*,D$@9>%"E@T@/2RP%_JG4=NU==[6G7LI4=R_>0?W
M'9+I4>'%E;HTOERY3]UHT"*HT:G"@AJ.*\/*9&#M@@<U#`#[3-X.@FW!*C`"
M(&]!%@`#.&=],.!!Y_+X\^O?SW^_[3*,]2=@&$A!MT:``^;'TF((>F$3<0_N
MYEQ.$#+W7(43)J=A;QL.9_]4<Q]:Z&%H()+8X!TG)J@B&5H9X^*+,,8HXXPT
MUFCCC3CFJ...//;HXX\^0L!C%RW&"(&00":IY)),-NGDDU#6@*24QAR)V(I8
MJL%AEER.D:(9"SI8('$E-B7B469F6":&(:IY9H0<`K<A<G".B-P?7W8959YK
M)/"5%]CA`,"58URGYWX***`!!9[@8(`Y`##`@"*1*E`.+`LH8`YB`,322@$+
M+#`:#I-*6NFEAQ[$IR,UN->(JX*:$ZM[T[D*D#7'P-*(`:'**JM[L<R2ZC(F
M-B6&,92^)VBL%,Q:@`&:"BJ/80:`NJL"'F4JZRG@)3#HL!)IY*<FB-5@0U4N
M7E/_PP44((`#NC508(T-'P!0``0@:<`-`A\88X,'`"AP@0:>Q$GGFPAG6.=Q
M;!;;8<-I/BQA2Q_R$::#=C9\L,()2WSAQ'(NO";($<LY<IR#7`SNRBSWM^JJ
M+0L8((EBP`QSS#(;&!3.^<R<RI@GCUCRG6<&C2;$2)>XL<<4@KRTRGY`S7.6
M4D]-48,T\P1&U5:'>X;6<W#=M6<G@CWV.E#?C`;07G[QL<$:Q^VTW'"3G#3*
M=PM-9AX*<%7#)%HQ>+9!-(=A``+07L=MJX-[[;:Q.VO1B*S8::),X^0UB```
MCP)@0^7+<B&IBU9&:?KIJ*>N.I4REN[B)%M\Z:X"FY-:_P,#-C1[TJ!:JXVY
M(+[''H:E^W+N:+LQ;?0MQEV(_3O?QEC3M[I_![)\S6)RK#W3<]*=\=QVAX^W
M^'JWY$%X"C"P>0+&4`"[\!K2<?WSS8R*`.+2$^K'_/0O4ZVCB+,<BI+7A>45
MKB&'V<HF<,`^_>&E$<UZUK/@1R#0A,:`OWG(8:#%0&`,RH%W:92F[)6H0?#/
M;8P)GBI&92T<H,,N_B&#\]!PPK41S4TXY-Z:#.`:>S4K`?02C,-,UK&0%?%I
M!IHA!;/'AAI.9'+PN1T.Y*$G%9K!B1)I5!8\L3DMED=E5D0A`;>`1>;UKP\;
M<4$&ULC&-K)1AF%,'N]TMJ`XGO]1#0Z@@1[WR,<]`J*&?%+B'=F0QSX:D@9+
MM.,7R@@F)'J/8>"KFR3+-[Y*4K)\6BCD(?GX1Q!:\)%*`^6%3L`!`IBRE`3@
M`"HY``-1YI"(K[RAQ#*YR3XJ$GXT8V1#`G"#7OKRE[T\0&(T64M$`DB1C*SC
M07@)S&8*$RPB(68ML3>'9):M'<QLYB^?>1=I;G*,_X'#_`Z8D&QJ,YC#+*8?
M_Z#+KS'#G.?DID7"Y,U#HO$]GEP;)">YS^^5I`/GW&8H(WG)HY'/H$[!03T-
MV4F,P%.;\MR30M6IQQDZ+T)D--?+R-F,ASHSG10ET"TS*E*&>!28$74<%Q;:
M1R[4<:3_DM.?(+$94%^F-"HLY:3%\.G0FJ(3+SE=Y_[,M1B7^O.H_638205*
M4(-:TJD%I1@8@JI'J9J12)TJP.:X\2AW<:&=2Z2I3V_:D(NQA*K&;(.]^H(#
M$TA1=R0U:E&6Z=,;D/4B:!4C&0"R`&]=XUN7XZE<K;JU;BS5IB!59UC+`,6_
M"C!VG*M2CZ:T.B>!H*XEJ*QF;^0Z%ZF`HC20T?MFJ87[&:!5-5B<>R";SX<<
M]J?0G&A(:Y:GZ5T#<"`$JT)>:]=]).`!WZK=YOJZ*K3"U*H+TBUAS6B#]$&`
M`@!(P`6R^E2CE8BW!QBB+(VX/2-N3@,70``#FK6K,N3UJM5L_^W>RE``<T#+
M&FM5KQVPNX^MM%=9AYO4&*5ZWLBYH4&\PZ7.XD=@+8C*'`'DZY_Z0-]!!(X!
M`9&O592UK`0D2HO*W$)_EYO>/)0&/ER15>C.D#YKH<8<HPU#@P51#FBESS1G
M2$`Y.$6J<J1XJJ#UTH!I*.$W<`YQM`L@&MH[*"HJ(@%>5'%=[ZJ'Z';J40FX
M[QML)EO%@HD-(E$N$\,@/:[8]@P'EA3B)E>&%?]A<ZEUSP0#&X83F/+-<'[S
M"<BP83BD,$#*O6A2!PJ2#P\`-H*B@/+@UF"XC5?&"S#!I$3P`3+Q9`/&>(`&
M/(([1<"2MP$06YWWZTY."TJCQZS$H/_R>[B`E7G)9DC?\LJ[!DT8H%$]Q@&F
MT;OAXRY2IK"@0+-:7(`'"(L0UK!P%KX\!C.'X;Z-R!4#%LS@N@:`SCEF)PBM
M<1U7%^#:;/8O+HP-!@:4@Q3WHW`@9CV&36\MCAIQ(@,>(.."="JAMKX#M\7`
M'G1X(MM\(+>VJUS,MA68FE\%(;D08.'HPM<@\\Y#G!=NRA600=_,,W=1PU##
M1XD*N.YJL;];$(".>_SC'7_!$4$)T+'R&:EKJNL-",`F3/.IO^'L-!B^-5-J
M\K8#(B*`RIOV3U2_#>7&43G+)62#DM?TV>6.]K_M'-?"K@'B8-!Y74]M\C\(
M_>'.AO9LAXK_WBVK#.I?D+I/J5Y3)FN!``=(N]K7GG89E.'JQ<[Z8&E)T2\=
MUP9:/@/8O2#VFI(]H&;/P@'D/@:XBV'O+C5N!??-8YE["?%<Z'M`_QY/,@S>
MIT@O?%V'?GBY?TGB6/[2]12Y(,AO0?+GI#Q$+4]X,1A>R9C7NI7G;L.PGO#U
ML2N)RX>&>FW*DKXF2X&S1;81E7.@:2;9>X!`?X?;;WZQ63#]V7>.]:J+X?)'
M?_OSXQ[[I,\VWLT35%6X('0^23\+O6^FZC\Z!NP'-/.NWW[GNU]8YL^UB0[$
M_1?.CX/T`W/]*,5Z]!=_/L5YL)=]WC=[3@<:7C!ZQ2=_!_A^9.!__[\$@$QU
M?:T7!OKG!?J6(N96<PG5@/D'@3NS$?Q'@;YD@8C5?AD(!AL8)OQG?W7@?`48
M?EPP:V^#@KU$:*@V,>YW3L^F7<;'&XRA?(P!<VO@;:)B<;K"#<DU@@4H-B=(
M?=Q7=@*(@)I7@S43@TK'!GL1+>+E+FQ&@S5E@&`PA5-7?5;(@@.H@22X?\-7
M0?;'4==@'^D`6`5T6JQ3`RI'`C@2`W4%`CA"`BJ7(Y?E4YEU(R40B#G2ASAR
MB#4EB*0S(Y]%4:)U!IRB"&$X8C'5!:^70EJ`AF.GAH!WA1)(!AO8!5RX==`'
M!L.5`$RH<0'GB6_(@2W(=U0X?VN(@6WH@O]OB""K:&4@&&J"M06I>(.WV`4Z
M>`,J"%MA\(/:!']NJ(44!!+!V&]R(#9D&%`$8'Z$9QS+V##8I5W0V$PXQR97
MQS60=U9=Z&_G)@84`(5E2(I`.(&Y&(&5QX982(#S6(7OEV$KU8XN%48-$H]!
M\8G&(HI^1X^KIX^GF(7]J(O_2$XR*#_RR(VTI9"3QY#LQXO[.(T1B8_1*'O8
MZ&D628O4*)+-)(UA=X]GV(,>^9#\B)$V&(K)&)"LB"(EL8WGU(W^6(]C$(X<
M&8`."90029/7='XV4)&,=P;\8P/'N`4XR'/+R(-5QR'E"$Q!.#11:9.]N#/G
M!48J)#5S9(RUJ(K_-WEZ+@F'UO>,:6F6*?F2L9<G80E3:5.66F!X4J.1J3>4
M%^B67^D%71E];YD%FP9^G4A^9TD3?*E-S=A;13F2J%A7'`"*:#F`4,.46#:+
MBAF7;/F1+9F&/]F0,6F4,]F3M$>8@1D[FLEA(5A`%]F3WKB::BF:$IF/I2F9
M1XF:%72-TP1PXG0E(H%[*F-T#PF.U!<GXS@T6?E+YS@Q@REKR7B$T8:8L(F2
M(2F76(B<::B<2T:.=?6<'`)W7[)[8A"6N?=?BS1^<)F=GRF34;>6MMB68-"<
MOL227_""R$B;=*>`>9!EL:E-W9@GC:E^?KF"N;F2VN>9`PEQF2F0"ZA6_P':
M3`-J1@7Z?P?JC/59F%G0E1JAE',(.6O`DP*:FM+)G^@GGY>YBX`)FOFYF%+)
MH3!'>NG9="`1G5,9!D(YFAW9HO#IBPRZHC\*EA`Z<3,WH<!DAN]9CSFH<E:Y
MAEB9=4+X?&$"@W%XGA`ZC(V!I+^DI//IHLJHHOO)HAN*HAT*HUX)ICCIG_\I
M?MC)C68UID,:IK:IDD29H%JYH.[9H*WWH#D)G(":F.T)ISXS$A=:@1D*F7CZ
M2_@IF!!H5C;@F]_$8<=%HA2:J(T:>6(:H_3Y!?;92YG:F7LJI*;9/!O1FL%)
M%'IY(H>:@HD:>#CPJ3<0JH,JFSR:IPE8DC5:>__/TBB,8:E)BJGQPQ,<L'-&
MQ%LI("*RBG0F4WZWRJ@(LGQ9&D?VDBN<6:LE^JSW:8]UJIVE&)D*.IE!*J>E
M^@6HRECBI@4&*:HT::II.J>:VJU+2IH^6JXO&J0R(:GV1&6-H3Q=0`$2H`T"
M.P`-4+`&>[`&.P(#N[`#&P((^[`-$`(,.[$C`+$/.[$3Z[`6:[`H@+$+BP(;
M:[`2Z[$#&[()2[("J[$A.[(H.P,8\+(P&[,P.[%>%#S5ZE7ZM%Q28S;]<V?N
MJB6*U*LBVI1Q8)T)<4M&BR>K$*?S-+1$:Z3NB`I6I$0;Y6BQ9+4Z-'*N&1:!
M="!CDR<\"SE:ZK4YJY[_@U12=E``AC`!G6$`^-"F/QL,D0([^50V-C`:IN8M
M.&NB6[`Y7F4`,!1C@/L5>VL&>'L?L<8%FL(7?W4?2G2X<GL?K>@%ID`JP,`)
M;XL'6`,2B,-`#]!KPZ`&[(8#&B`+I"NYC$4N[-$W@4L&,G9M?74-KX`&HWLX
MPH!O8H0`&N"YL(@#I_":7_``L%%JL!!ZF:`1OL`"'S``&Z$1(C&V:J`,TR%E
M44L[DI,%&L`5*1(FRG!DX)$&_Q,9WH*[8&"][W%PC31B5(0#(I`&YKLLZV9W
MS1N\]O$`$U`#:6$!J%N3=@0U<#4=G)AJ..L>[^N4(K$`'8'`!<5#63!=IS&Z
M_^'C`5YE`^Z!=VQ20*6E">O+M\,VP%G`06R@MH\A"?<0-D,+-8@#*J$;6#/$
M;@CP`.I3N+L*FY:R``R`+>3[!:][#@T$P6?@PC"<KF:0P@LP#"",MEL`Q-[F
M*,SV.&$@PT7KM&#@+8-[#3K[.),R9N;0Q&FS$=BA7Q!V8RS255Z5N%N0Q1$F
M0UU`Q:<%*;35%%FL`1LP3M]P37%KME0S0!RL"B-EQZ0EQ0P1;U.;>UHQ">R3
M!1"P`>\"`1[0O-`;"($$MC%4MF=0#W2!OQ(0*F6!#>1@,0@2+X(1QJ02OA[0
MQ%SP+-S@+9J@RJ5%!I,R"6$LM"'1-R(SQPA@`W-L+O\0$%V<^S:H?+>O9@/>
M@B_8H0PI@AT?@1W68`*3%BORA<H,]"VL7"H5!!)(A@,28!T%<`B@,@")8,HN
MH6/`N\;_,+WL\3>*H+:(098%X`&\(BB@`L^.\KM+=\.@@@`0,%T`<`&Y<@''
MRQSM:P`>T+X`,,>PL!&E\38DI`'5^@&N,EUILP6]^P#3!0OF?!5._!X>\<[V
MXBK4^S@!XFNR<@B",@&^-AZ$@"JR8L'@T6.JIB[I<`RUXR5$]AYDUM)E8`!^
M!3J:.--C\-*QHB[HL%ID4&U!+2B=TVB+]]+(<@T?9A=5V@6F$!X#P``3`!?Q
M$0OVH+DU.471<M2=@CA)9E7_:_8N@7([X/&Y6^8H4B9B8?UJ9&"]=V@YOY5:
M8GS*W-!8&(W1N9M`8'V]HI'7,*TN60!7@V7-`FLI`Y`HY-!K`P#%V6@X@H'/
M[67.&S36PJ,``>'1KI(`1Z+6/]M>DV#.-WO98Q!NQ>MDL-`BH%V^`7&SG$TJ
MX*P%''1?L8#.]MRZ7:#9(4'0\1PP@AVAS^N\Q3'<P^T'XZL(HBS*##3;6[0I
MK,S*CC`&Q>P)L0S7F^#<L6)PWZ+,HC`&DS(H0AO=NI3<?Z7($'8!-L#<]0S=
MT@P`Z!)=.I:TM7=EXSR0)MJU/?.T[+"Y98NT=ZS&6I(W4%7@(S/@@5H'6",X
2#@&0#.T@OTRW=!G=QV<0!``[
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>11
<FILENAME>u49809u4980910.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 u49809u4980910.gif
M1TE&.#EA_0"Q`.8``+"PL&5EFC.:9=K:VJJJJO#P\+R\O-34U,+"PL[.SN^B
M<+:VMIB8F*2DI/>#..?!J("`@,'!SL^ID#V>;-7;V)Z>GHR,C(:&AL?'QY_%
ML5ZK@Y*2DK_2R%.G?'.TDTBB=*^OKXF]HLK7T+3.P7ZXFI3!JM/3T\W-S>?!
MIZG*N:FIMMG9V8.#J\'!P?>#-^^B;Z*BO>.69+6UM:FIJ6FOB]6OELNXK/%]
M,J.CHZ>ZL(ME<[N[N^NQC)&RH:^OO,G`NLVPGC:6:&%HEKW#P#^67I>7EXF\
MHI[%L8VSG\^IC^/0Q+/&O$R9<:"#CEBE?>7(M3F3:[[+Q)>>M9V=G8J*1C>8
M9I.YI7:<DE)XAL>TD+)X):[(NZ*\K[6BJ=AN$G&EBK&QQ4Q_?U.'@V:@@L#`
MPV>HAYRVJ4:3:^2>:&VNC>7(MIJ:N,C(R-_?W_]E`.#@X```````````````
M`````````````````````````````````````````````````"'Y!```````
M+`````#]`+$```?_@&^"@X2%AH>(B8J+C(V.CY"1DI.4E94%EIF:FYR=GI^@
MDIBAI*6FIZBIC:.JK:ZOL+&'K((&`+<+`X4("82WN+JRPL/$K[1O#`VW#1>]
M@QL5A!"_S,'%U]C9F<<,;(,&&]\`#`>#$(0-"]KK[.V)W-Z#%N7(![;FA`0`
M[OS]VO"$NKTYP.#-``OFV"@T,,^?PX>Q``X22(#!+0L(!$%@P+%!/(@@0Y:2
M:!""K@O4HKTY)[*E2U`D&S1X8V"FO'(L7^K<28G;!HX6&.ABD'&0OI4\DRI=
M52B!0C;TWGP4-*#7U*58LQ[+RK4KI*U>PXHU!':LV;!E!;49M/9-F[9M_]VR
M50MWKENX==72U<M7[MV^>/?Z]?L6L-W"@P/_32PXKN/&AQ4_7CP9L>7(AOE>
MUJRX;Z&T9T.+C/NY$`/$J094(-=.'3).!'01Z%61(T>JS"!L*,K&@&BRA:ZB
M`E!!.#:6QB6QV8?,&X,%3^-M:*"+S86B%:S]?G-LG\)QU&LQJ,![M>\W`-A4
MR#Z..<WQ4]EP-,`&0869!QI8U$5??P($R6@WD'X`5(=`1>X9`%\MX[`Q0&T9
M&3`->H+DMY]4RP5H4$4-.#,1/0()1(@!*@G"!D(TN;?=,><`8`%TTZ&WFP$7
M*'2!`0ALL`\$'E5@07H;^+;`;@C4.(A\#-AR'?\"`Z"D7D$<(>!B<3(1TF1Z
MJZ'GI(YO#(E`D=[PB`!!'M%HSX3G7/DD>B^R$:-,RZ%883B"A'A5!>?)T\M!
M7FU6FC3HV81!0?.LA8`)./C6Q@$(05".FX+<\H8%)M1BTUNWM`$``6[5)!>E
M12AJTAN#_F4`#C<1MQ:C;11*4P-MF/26HBMLP$:L&M&$0UOS``"K5*?==\*B
M?ADP@UI%.`?!LA`XA\%>##S[Q@:5<I:997D1EFUEVS;6[6),`2HIL$@%]-$Y
MR!6$WH[,;N3+/N..VYR(Z;X[T7+NH=MN03D!>,&_8>8J;S?CRO=&`@Q`\*.]
M=3IWE8C/Q`/Q;RRV`0+_<P9?$,P!ZA5UP`7E&KSN&QI3I9VDXR[`J2`6(!Q/
MO8.HK.>F5(%<LD&ZL/0QD\V5>X[,+"=0<$'EV-/,(`,[7,@"-E4(<L/;"<+B
MR.3*-(!J`(!SP`!5PBRIU5C;.^['WBR`$+TFJNMTV0@!T`S7G()=P8Z")&"!
M+@LTNU+.`QEI-M4&OSA00X(@T+2=A31YW@!<LBQ@:%,/;5`#RZ[L-H]\DSLR
MU\N&AS2\[B%@P4:]H*WY(**3CIZ/F$_>>>9O$+"L>6]4X"A+J3/0B^1V0W"C
ME7(BWI0%/UVP\D!T1@W:8"W)>XU'CSAU<IY*H=:9U)&@YH_SQ1Q0HB0#J+T3
M_VF.;*5](I-I>ZUDF#%F[6`8>(/M^IFI[_[\?B&P`F3T)W!"^WYBW_L"R+_[
M9<L2R[-+U!;HC@0R\(&F(%\D,(&O7_SB8A;,H`8WR,$.>O"#(`RA"$=(PA*:
M\(0H3"$(,(A!`%QL*@Z$H`Q30<`_S?"&KC@?(UBA!@?XT(=-8($06;"&03SK
M%VVPQ:T$@0$!L@$#!SA`$^L'EQ;(#X`*%*#]:EC#+0+P6UW4HF3RHH$REI$$
M:HDB&UXX`!D`X`!<;,L)6B`50PQ`180P#BL>X(8^]E$'`0AD`%C0%GA%RAOI
M,1$;%N`,!$!''<MYRAT3<`!'OD%*P5C`F`0RR2A&$?\!!A!:50#@(1PN0@"H
M1*4&CK2<031@:^$Y`"GOZ#%2'M*1A9FDKPI7H.7<L4L968`Z]NC'/PIRD$A#
M1M;<PQQ?/4@0L2$``O#UG=AX1)/J44B7$L!(YDBS&T^)VX,\4A13GC*5`EBE
M(G\A2T5>,C\+,,!YQF034`)@FM#DFC9KIY!IXJ(F!I#F`8A93$`*D@7)]&9U
MSH.R2*'G.^E9#J<($)U%JJ-`_A1$F?K9RHDF(*#F9`0ZT\E*]]CDC5T*:"55
M$L_CR7)<$]VG1:7YBR\YI4,$]:-!`XG06M"$*OI(D&_.,]0$?#24'TT``9!J
MU$WMZ2CG4:H!'D3*H<[&%M3_"^DA1JK.@WUT$$J5)H-(>904)6@`\JP;`79P
M@EY8;#87DR=5'Q0;5BA!`7C%:Q=@P%<8@*$0.M3J0T)`6,)FH(&&""RX",$M
M^E$&BXYM[&,'F,4"CC&RE9WL%L'(6<MZUC/7FT0,!4O:D2Q"L:5-+0)5RUI)
M2/`0YQMM:V?+%M*\=A!@T:%D:1N:VZZ6$[[E;9^"&ZY/B/&S7J0L9@?86?<E
M=[/+-6!DFYN^XYI6$:@5KBFSBXAC$%>[,LRN;16(6_":=QN52-]YL?)=T:(/
MML%M[WI?PMU%.%"^S*OM=*,KV?Y2]XO\A2QTI>M<Z^*OOZ>0;?;F.Q;'?+<L
MMKA:_SP-,F$&BT:QR^D%5K=)*O*9+Y1SK4\ORVGA[;3E`.J8"7/^4R#7$"(M
M=VQF,_U4XJ34%YH)4,8"#H!!2MK0$`M803-!$"GMT0<#\:NHDI?,Y"8[^<E0
MCK*4ITSE*EOYRE8F<>$\M`^C!O1XV+-C@=`S`!&76<MU!.P!_1M@Y0X8P<QM
M\W,O2^#J?O;``D;$51@Y$!E0*'94*Z\A\#75"0^@PL&I<5?6,I67>@>E5;FD
MEA6L9T5[)3F/,)]R+#T^"<J/N($%C8,S,\7\<AH;X=O04BMX"$R7SQ$T-A%Y
M&8O?4W^"`#-!*CVF2NLTOU<1E&XU;'\]9V_)V<#(IN*=D_]=X&4[^WY$SAHN
M[5'I!0LZ$ZX>MIOI#.<Z`]C;;<;SM@7,;7*KA<BYH%"ZA:UF[+YX$]E>"B_6
MY1LI934T^XAQ1O"8QUH#I]V"442\D[*`XCS4(/M`\V]>2[Z!FSK,Z!MU8JXB
M\:0H1&ALH*@^7+S`]CK\ML$>],,!NQ.%7.VAB)RA"$Q=F*E8[\'P#HW)*0JO
MC$,P`Q]8I6\=_HZ8N];8X`YZN94[@/T-8(I'_V^XF6UGS0Y=+A3`>2I'('#T
MDOP-U3J`,WPL<JY08`09*&P&1D"!&U(@!!-(91#$((6^MIHT9=9%F>NFBVJ]
M^Q`+F,(EA>E(*952UHBX<38R0(/_#XP4G1THP<H7*`(/H#,(81#",0.PV*D\
MB`TS\0@!7OH&(O]X$!R#5UJ9X_D\7CVQ_FZ%"-!^^-8+8`(AV,X(')]**&!!
M\I.G?-=-AI[XH><$4MKQOP^Q#^I\M)F`A0Z6E\]\)4>!]JD\PQ=ZD(.GY*`'
M8ZA"*C^PA.9[__M0WH(&T,F$*^3^F$NFWEH^JLU]/)(`8.9.(@QYZ'U0.]&"
MS\;9T?F!$I1=$5+W>H<5%@&H2E07`><G2"1W%5\R$+[!'+G`/6GA&S&V`B=P
M"X_#<^;F=!MX8"60=JJ4`MV25WF%!E202B7P9AM8;)2A=)MU=H:72AZP>&^`
M@`FH>XD&_WK*X'[W9!!"PG'RIPD:>`TB,'ZH]`%4IPC%5$Q:0`2HY`%848`3
M0`(T*`@VF(#")E\29#X'='J^EEBS)@P?B$H3D(*,L(3%Y`5.*``#N!,C$(,"
M\`$A\'^%<(7GYVE6AVV,Q0]%F$HT0(>+@(;%E`4@V(8M00$DD$JP!XA[88>Y
MQVY[&(:?1PG2XAG:D`(@.`$I``F"Z$</P`&I9(@@\8:I1`*,J%^..'GZ]866
M:%^PMG,.D0&II`%5V`B=V$</\`:R^'H<(!(AD$H=D(2+D(K'!(D],0G:HX':
M(VXLF%R)B$HEP'2WZ`8HL!:[^`$48%TLR(S:&!@48(0"8`1`5_^'-XB#IL==
MH8:,I)%M\<5TF749M*>)W-@8TUB-@O",&M"-SQ9'RG87%-`!9#@"H<4\Q*B`
M(I=_D^A<BE!JL28+NS@!O4@)TYB+@P"0`A![_?"/J-0!M<@(!1E(O89I[15R
MA<"06IAZD9`"9!B1$GF+%"D(%`""F^@.&BD`'7"*'EF.ZN-R_D:2?O%Q*$D)
M(@""PMB2G?B2@@"*O-@.-0F%"_:1YG@DD!!;UI:#VE"39F@)$VD();"1.$D,
M-*!*E0"5QDALPV<)0Y@*M.>4F;"5AK"6Z]"5-OF5O68(9#EH00EQ84A<(ME>
M_,B!?[&+-]EME[65CX&5?YF8[]@M(T#_AB+018IPEU8)<*YX"(=V,)LR2F,V
MF>^C>FD'D9S@EH;``85(A$3Y<VHAF:976S+F&V)U;V"1'[M"@9)B#]83#Z#F
MA9U@A%FI":)I"(VYE,1@A!AI"5`Y&5>A'X>$(6\$F_.'.JWT9ZMY#7+959OP
MFX8@F'29"K](4IJ@FE)9"%V6'M:D,@UX=\1G(OOF4$L#?MZ7`V0X!.[)!M-8
M`T^6!JCD!/-99?#Y>O(994G&9#Y0CNEG"/FF"QBS1J6GE^*9(E`A`WZW>[`6
M"C4YDYV`G8=@D6SY"A99E,:IDX90:LET>=X4._&G:0/Q!B<0/^7`=9RIF]JF
MF'WQC"1`7=15_X^<10$QB$:$"73=1J/:"*/@"7B$0`\K$`\G%T63:%L,-YW:
M=@K!B8V@@*&'0)JH)(I0>H3;.95#^H4(&826T`:X*8FEH*.HQ)*>0*55"H)H
ME`IF*@`>F@G'*1AIF9";YEIY60C/6)R?H*9K^H2I0*.'($OQH*2M2(XW6):G
M=9:,$%@?%PJ"60I^^J?IM*69$)PW>0B<D@LYPHYMT:4B&GC`%G&.4*><8*6@
M20J32JD?@*:>\*:NFDS39`*^AWIV":(O.G*S`(:1T)>->G5=5),#B)P@$!L&
M``+4T:-N^71M4),3D`%-EYAP07OB.%E2DAYM4*N4.0A=ZG*'VEWI%?^>L/",
M&PID`\`+I+0UD;"JB0!]?+H)D9H((-`&*[-/C="M>4BJ53>03TH)VJD(!_)*
MW1`;Z^J2E;"+`N`!ENH(J!JKA"`T]&"HXJ6:+9>OE7!%BTJF#+N2BR!C&%*P
M1VD)5CJ7FO"F6`I<W=J.HSJ5BDH(%."P_:H((WNRN[`IE40S("N(2#D)(F"1
MJ5H)</D("(FO$\JHV<-HZ',$JA0",/NMA?"F;8H*[,H(WQB*![N1BL`#)(A7
M+_`""K"SUS.GN?H5M@H)K@9]1^@!+%EK3=D*4]L(SYBP"UL(#]FT;^``MZ@`
MCD"T,-ISBL!CWK`<4>&DHUD"'@"'1Q@"'>G_=!P0@U`81TKP`"CP`)0[N93[
M!,M6C_O8+1D`@AVPMEA4M^*&MYVHMZ!&L4B;@X++8<*Q//#R2YS2</8#6")0
M`A8YBQE@J6.8L(^@`+?H`(_PM@SKL^^:"`A+LX1`NH*HM_>*JW\QIFR"<+'#
M8I=IIS&S*0JA*2VK"*N'N`)``QD0JU$'AU';"+[;B<#K",+K"!0`?1]@H8@@
MEVS8",J+ALR;DXDJH0/A'8AD`K]P`H,+IHBPJ?0AG82@?$L6H$MF!F4`@NAD
M1AIPNZ^'!%46`[=X`U-6G_NI$#W@P!I@!4O&!>!(P5%V`[<8`TX6H`-Z@P7:
MH.WG55]FO6^QJ4(#_VA[*)*-D`)AZ7JEN+B+<+Z"F+ZV:+`4VIUDJ`$A4`*$
M=;L_RPCUNX3W^Z1\FTQ"9L.<(H&Z2:A2@5+Z^XJ%,`*&"\$:0`(I,+>&`,1H
M*,1G2,2DT'@\_(0^C'I/7$SWBUIDJ3V56+%;7`Z1=I[7AI:@T*,#A,9+Z`(W
M>HOV*'0;2`%'4'CH-`$>0'5!>K=YN[?.*ZY?*L!FF84!U[>G0,C%I,:!R,:,
M8`O-Z4R2(`)Q3+^5O*U6>,E$>HQ5*:Z\*@R@[$>BK(2DW+$3EJZ/@PIS[$<O
M8,GY.[:K^%IEX5O(N<D!AS^=<,M]E,N)(+Q,\E$#^\NG$,Q]-,SZ2K&QK/^Q
M1CL)IIH*T.P&THP(PAL/DF*OK:#-;A#%D5F.>.BT*ZN'@3P()^>BCE#.YWP(
MU)R94A)_$=06[ES'\7R#$L20[O6K`N=;1=$&"M<(T7)/,T`/<,;/=;86AKF8
M^T5@)W`>'^UFR=O*^(N%73Q!GKP(WJH6&$`G3#,)TI1QT!$)&*V^NXP*,89P
M_+8(!4W,)FW,H.5A1WO26'<QDL8<@A=*"A$-PM>[OQN\-XT(#["U),@#D!`;
M^X#5D=#3M5P8DAD7[%B9\)6QR4$EF(=Y`M*0*;*#E_1W/_S4-AVRY@O7C<`T
MXV#7XL/*I>O3YZ>HM>:3M)Q'F.<4:,W0#]M40,C_"#4]Q'*MV'3]",PDM)2\
MU\U;S(0K"CY7;6**FI6PV&O<V&^-OI(0%0'L;ERMJS4(RZ0BV>%<RX@@+>H%
M7-^R1>5LR)&%HX[%S]+J6&%XVL.HVF%=SXG`.+$#`(F]VL!J"3_D0R[@`LQM
MU756VX?<B8DL6;IMH[R="+X=B=P*HNLX%\K@FIN*S9JL0$Z5$9[WW850SFX@
M7],(SXG@V:,,VHH@WXG`1U%]"-N="%/,-2B%@<?]QX<02A%EP#&C9!9\BQE\
MPE*6X(*(P5*FP5'FX&@(X5!6`Q(.92;<B2@<92N<@"U<(;>RJ0N0-0(MX(8P
M-\^QGEW,WJZM%^^]SX\]_]\Z*^.BW0CX#=KD$Q>GW:2I;=FTK*3,80\%3I7<
MS199;=R*ZN)QO;PV'L103=_Q/>/W_;;[C0A#NMGYD#70]`8RX#FM+=G"P>02
MI#TQ/M<WSM@UCN90CN.:J]=.7MD_?=DH':9>^@9D_MG+>]%/S68;O3XUS44H
M\.9.3-*K2`AWJ=Y!F1;*_*),KN;V^^1I'.5K[MAIO@@YON;6LX<%W5Y3?.3"
MK9NQC;&"\.BG=>:6WN:0OH0[.^67K@B9CH84J5AK<>61^.F8+81G/(VN/`BH
M'MJJKN>R+NE+V,^%$.NL[@@]?M!S'MCN%N9FN^NW.'*D\>OU3>73G-_2'NRP
M;O_EAL[L?1VBH+Y8T$[N(;GM@OCL@F#MKL[MNBSEB&#?4NWME%W2?2V[X`RN
M*9T(PO$"O-[DD1[=MVC;=8;;!';=](/LQ=3J.]X&^ZU#N$[/Z`G(Z_WOJT['
MQ![*E#[L;#[I;D[$RNSPM\C-]OZ(1"U?LM6%2T0(IHY=[![OV([.VE[QKU[E
M,S_2]2ZJ/S[G>NS%$[_OCF[Q"KGNW][N'G_QGICQN.P("I_T.B\(R\[?P.VT
MP<7HCS#F0D_C`9_J1R_LR=[QQ<[T?DH:MGZK"$W4X_[S0TUQ[.W>10_S-9_M
M\'X(\GX(38^+RO[VAQ#Q9#ON;Q%C;LV*>)[UVC:-)&__W;\;1D1_E/,8Z)9U
M]VX`MHCP\#O^Z26.`&T@3)=$WMZ%"`90#CM-ZH,_[0`/Q1P]^D&L^&\PD8T/
MUV($^:T^^7H/6."9NA7R@".STRB."*0WSRR?];[U\G0?\_Y\\X-0]X8`^XT@
M\J7KZ5/?<BD'?YKD&D;>K[UO"--4438@`=S/_4F0!-T_9=T__MUO`U*V_>3?
M_4`@_NG?_3]P_NW/_>L?93\0_]S__@JL$$@6'4``"!*"@X,V;(>(B8ED*HV.
MCQB*AV^4;Y,`E`,+(`@)E9]O!:"CE0D`"`NDH&UME*VDKZ.LKJJUMK>XN;J[
MO+V]LY6QG\*\#1@$E``#```'_ZJBN6T'GL/$OKC6U]K;W+[9O]_=M@-LE<X#
MU*30V.+MPZON\?*KL>'AW<#8][OKXONU_UP%?`6L7C"!M!(6)'CP3<&&"Q,Z
M1#A1XKR+M[+EJ]7/HJJ`LC"*'$GRWD.`\':!!)BM8S5_*TG*G(EQ(\UM+C]J
MK(6`&8)DP;X)6\8,'0`"`X+B6L#,T]%TNDP!2$4)62^F`#QI\B4U54],(541
M53:``-*;VG+"VDDO`=4%"1HP^'5VQ0P#;Y;Q@DNIP;0W8'<UH.3VC8$*5ZGY
M;3"X%XY6"63@15`N):FS9=D,:!-X5X(*#'[VA1I/K;C.F#J_)!48;(O*L$8%
MGD1`]?^M2<G8&+!]:W8YWK9P`TZ6M&+O2I@.5(#M<=2`"PL07"BW8/JVDY5,
MHXQ=R8"S-P=2`;<5&!D;T;M`N-JAN8U5@O`3'MCA:L8&``PJ&W3($/`K`R?X
MUU]%&QV`5U6&D186<I40\)U5N[`Q%V#-R,5<-/^X%-^"XQ"```,6.`-`3(8M
ML,`&#>S&QG?-@9*`AQMLD!F$N@!@``$6'#B>*B\B$"-0O=B(XXT&:*8+*P:8
MB"(;T5'EF04#'+9`!3CNB!-)"6"P0CDL&D?/)^0<T,DA7>KT"1L))'``.=<<
MH)EH9>J"IIK@'1F+FP-0Q@8&Q>U"C@D__>4E+@U88`$$:;+_L<&!\VCWCBQL
MP836I#*1N$T":%*50)_R.)J1I=Q!"E&DE%(*JBTVE8J+IRJIZNJKJ&IDZ:G>
M;#@*JY99QE0#+YZ"``@.]G4A*`>894!/#B)[S@:WU$:`>P#(8$)M+5"R&T6Q
MM```K[4M,.TIK>RV(3`S''5`N0@4>\INS3Q:24_<3O5MN@T`,"PHSJJ+@++L
MQCE21#9I.&`OY;!105+,Y)7*#@O<.U%E"6N"R59'A7.`B`G\-!7";R1P;2V5
M5:#Q`AQ[O./%@)&<,L)3&9#JPY2(O#)@/:E<RP$FS!PQ4PLPRM,%%QB0`-`>
M0[`H!!!8R0NNU]362L*`>2P<R#TE_P.6C:9LM\PE5^NE=,^_=9T:+D19G0P"
MZ/BL"M@4YK9F8-\0]?35+:3=['D,5&#`81<<T,`%O&:TM)T<@JF,RCO75N^@
MGR#0`F<*3SPE?LP14UC&.M^(WRUP8;XQ8)I/6$MAB",.,><GG#`RPJ?;0CK+
M"K<^S@8?'L(`!(`9;8'2_+@#'P/,L%';ON92,O5&"%1@H[*_!CO<S<!CTJV^
M#-9BEKW3#U^]*@=$KZ^^R'(ZRO7"3Z5N"^K>^TKWS(`/K)A'B>\<`Y[HS;??
M]']8FN^ET@KKD;S83ZX`6(L&((U^1#.`T0P`-/2(@VD-(5R+0D617_S/'Q>D
MR3XT5,%Y^"R/@J':#W;&-:!QC0I;`_Q2!,VDPI?=Q(76@&``)R7`#%J0)9+B
)SZM<J(Y````[
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>12
<FILENAME>u49809u4980911.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 u49809u4980911.gif
M1TE&.#EA_0"S`,0``)^>G[FYN)>7E]35U<K*RK^^OK&RLJ6DI9"0D*RLK(B(
MB+"QL:NLJ\G)R=34U.UH*61EF=_?WH"`@?EE$.#@X0``````````````````
M`````````````````````````"'Y!```````+`````#]`+,```7_("6.9&F>
M:*JN;.N^<"S/=&W?>*[O?.__P*!P2"P:C\BD<LEL.I_0J+.@D$@4!&;`RI6P
M`+*M=$Q.$20'T<&[%(_8*GAY3H\)!*3#8,`M4!(`5G@)5@@"?A1>$H$26XL4
M`E8)%`A662)N(FR1$I-K$@A5@Y&#@IJ,!05XCA(%A*!UL4>-)@I@8H$$?`42
M>Y4!FHEI50.\!PA[K1(&EYA=5A3'R;RZ5ZT4@0,$U`,*:8\'"F*T=[T#",VR
MZC^T)7"-`&")C@A;P(GXV/+/BW+.`0#'=8E'@@U!?<[RV6LDI]"]=1![`,`S
M`H"!=P$.TC)0J9TB$1K1!#QC(A,^D0`?_U%(!E+>P7'_&([(PG%9Q)LZSJ2)
MULL6!5S[`B"CH,`;MH\(A9F36<*DES7)MF1!4*FE"&Y&V2R<]P?4`*([<8JM
M0:7/2K,:`W!2P`L-4HV03/G[R4\$IU)6^'@YV%4"1:TRV[9:^W6LX<.($RM>
MS+BQX\>0(TN>O#C"",L4,&>^S'FS",V@.WOV'/JSZ=.C,9<F+;KT:M6M.[]&
M/3NU[-BG:]=F3;NW;QU\*0N'J)E%\8KRABMGK!?>0`J"BW%)M[QZG8E_JF2Q
M!896@BH&(#VT3KZ,(ST$`"T"P,I*(`63RLL?`KL%@4]^`2"(9R\@=%+S!:C#
M<3`<,`DO"%!P1O\\$2P3`2$(^!%.?;;=YMMN%+J&&V\58OA;AKCIMB&(N8WX
MX8DEHF:#8!V!\HA@KI@EX(PTUFCCC3@F1F"./,ZP6X]`QK*CB2E6:*2&%Q(I
M(HI+'LFDDB%"F>234Y(P9)!8(G9EECENZ0(_8(8IYIADEFGFF6BFJ>::;+;I
MYIMB<BGG#B3.:2<-7K;@97%(&LEAGTT"&F65@5KHY*$>(BIEAT3>Z2A.Z1Q'
MP*0*NC#>HY4!$4`#E"I80#$_$13``,!,JLNHF`R00(*>[K''IZ2NA"JF\\6S
MJ@@(<`1``?&`H9\!ME(50!H6(9!`&@0`L$9``)P#;#UAT8H3A:-]X2O_2-@`
MU"M"!.V*`+'9`B,4>P$!XVL!WTH;49[&6>52N-M.)``@^A"4P!T`K60(NO4`
M<P<@P:G[Q&I%Y%EGHG\:6FB1"R=,J,*#,DJEQ(JJB`2[`F>L<8\8;^SQE1BS
MV[''E(VL`L$D.W:<R4(02/#!*#HLLZ`,1TPSQ3?G'#/,?BK!<K4I!RVTRA;#
M\//0C'6,,IU(]T@O),H>@)T`RB[=]$U#'EV"*V`4$!Y!!GB-3;LF@*9SS6CC
M#/'#:9^=:,-N-QK$`-?F*ZK=)D!S@M97(W9O(-!]#4;87^<-Y^&()Z[XXHPW
M#HW)[$%]@-1X4!VM)G/UK9R7!HRLM^9T4)T<_Q\#_$LYT#84MH)FGX->1A84
M83-O*LG^A,CJ/EIY@MY9N\[$JE\EP"L`"1AP@`!J79I$ZZ*5$,'9,^\\L68,
MW#%`!.@><A8!5"\@?<7@0\_S:^("8TM>V#000`+441L$\Y)E(7RE]\FNQ]CD
M4=YIL_$88/D3\).,4!#!O00([R#)*4^LCN"YS$'F'K<`R?EZ@3_YJ`YD9#/:
MB!Y7-,8`2P`$"`#W+`*2$8;'=R\((-#X-H83VDED0U`A[MKV/;BM;3/76Y3X
MIF>S&]ZL@S9@H3L<B$+#"#&%1"RB$R#`Q"8ZT8D\X-,*9*A$GXG@B5AL8@:#
MV!GX6:V*0\AB%IO`N_\MCF4":$RC&M,H(#%BL7E'G&(2'[/&.J*QC6Z$(A.H
M.,.W]9!MT;-C'7D6O4,5TH^`)$$>]3B@WQBN.H)<(QX7"0$7Q+$@2;PD%"*I
MQO)HAI),O$'V$&&YT_VO.%Y$@2:5P$DV!@B4E32D&124!K&!S9:/1!UD6GG'
M5X(2!P7\B;EN@;<A0I*7DUSD#2`8.(2$S7L)Q)SCI@DG7DZ`FMA,'"S!!`,3
M^BMJ4U-6+I5C3?E@!I:69$'GFN<\S)V,G6=$IB\IF0*3J>Y+_ECE&,HYG"&A
M$YY"L((^Z<#/^?RS92C@HV,*&I%G^0%@6>`#=%BU@H,:@75SW%L[>4C#CL[_
MQIJ$')\.??B3S/C*0"8%(798`$N#L2.C)J,:1:2&#*JM+V!$8.A-#D"38AB0
M5]ARF2)_&46`8E)F,:"4/,IG@`%(K8(JD*E=)I(1`3AUI2O0*1&D&@W]].H^
M6#W!`1`!P?.9JP46-6H/%%K/%-"-!"`T!+#TPP*E*B@+RAI`V`9WNQ1H50AV
M+>D64'J+OL+5I@'X8&'>Q5*BZC((#<JH6K<6%KJ]%2'Y8L%E5V(1`:"#F"SX
MZPD<*@)@48)X][*J9A,H@*:Z`GG(4^<+=I36=W+QJ#Q8$``FM1X3GHX%!0A+
M</%WR]#*DP7,-``@SK%;^1G6!,,5@64A&$+VJ0"-_P_@I&UKN]&7SDUYW5R/
M"-?S0;#&[KK';0%/*Q)"2/PD0BK0+3#6(]/2B1.]K42K8W,@U(1*5D^=R:$A
M#Q8>1(Z&GS`;ZV6:&X'(-5A1!?[C9D1;`NX.=)P.C4!Y)4H!TRKAGC2@<`GN
M0"YL4:UX$Z&.6VU03BE6V+&7Q*`[,8$M,#C5LQ18P-.`2-#TNL"%31#Q"+AK
M!.:M]UW)B>9-A'P"$"^!R10@\H9TT#H%C\VI%50R"JPY@19PV<L^CHB(S[E?
MR.X.#B0&2'FS_%@2?-FX83X!E'?PYJS&V012SMUD$Y$Y%\+PP"W^$)=A!M(:
M2A@S7]Y-H2M:9A[S=\8E</^R#.J,W_S"6;M'H+1?PTR@@UXX!9_[(@PTO64H
MF_K4=RX!E/-LGW]-=7+AO!R?:[`E4LL9U9BV<ZK=C.M(&H?51F6F+?E:.&.F
M\P6V-D&R5;WK$2R;U\T604&OE&>,)5:8F"TF)OEA33-QV=O=+E.XR?1M<8][
M3.<6TS;K`@,#G'#8'<:EL:&=:W9&H,X?13!N].V;1(=HT%->-5'=ITY;).";
ML*[<?4T#OU[[^M+UWK2E=3WQ2D>\;!00.#UU`&2U,N_>T<ZXPP4)YHI+W.2E
M#KG&E:D#2<>!#9KA=\I1?FN5V_SF-%>VCVG;:-TQ#;?T?CC%+U[SG#/;Z$$7
MNL7_E7YRIF,<V&VF=<-3'?.1V['D1-<YSK-^=.UZ">JSA<'43;ZC9SO;ZI*$
MN-.+SO6D7[VQ&]]S#+8T]K9_!N!)PK>%IKUWF5/(W[_1:J=[CM`9JV;12R>Y
MVA4_=,8G_NV-=WS3);_1EA9LG&='>N8U+VVT=W+QD']\';&^=CP3WI%4GHOG
M/Q_YT$_>]3.W>^>W3OD3@'WN+:C[VH]C]MES7N2_[SWP@R_/+=7V:";3O>)K
MO7I7MC[MSX>^Z*5?M)7GD8RJISW)#X;W?+>2T'[O#.!?/_KN#GG@0+A2&3/3
M_%Y&G_73=W[\Y4_^\JO2]Z4_S>U]H'S8LSW_;N=_6B=[_\-'@,)G?6YD6W$$
M&OUG?QB'?P"X>0:H?0+8=1,X<=1V>K2&3P,822YF@1$(@;77@2,(@B48@`Y8
M?_"7`FGU:9@G@BD8>R%8@#/8?ET&>@XX)`@H1E%W`^KG!<5A@VOS9G7";ZL!
M>*^!=^8G6L6Q?S.$1,XCA#A(?3)8@2A(A?]W@A*HA5>D@>9'`N@R`J44:\?1
M@%A(@EQ(@VDHA>]'?U4X2$8E9>R2+!0!;X0#59EAAFKT(P?8?J17@WX(=RSG
M:"JP5,,D3&<U;UMHA1/&AO-W@VWH?H\(B8^H7W%G`_)@A_*V;<^0;F%2;N3F
MB6`BBMQ&BIUHBEV`BERP;L\@`_\1-(8"$`'_,V^(1H$QF(6,"(-G:(*YJ(9V
MU#NZN(*](8=RUV$Q(%"\N(M7V$G<MVC>QTG@5WS[%HB,1D]'5!A[`FF+>(MH
MV(M]2'RVJ(S;N$9YXH2W]0;9]WU3*(RXR(W)R([=Z([+Z(;M"(\O=HD]R`-Z
MZ(8$\HW@>('_F&M7PG<H8(X:!&KI")`*"8@!R9`-R8B6<7O9*'8)F7]5%X[V
M.(^4J((9.8Z[>)$$6&T!E4\R5X^L1R)$&'C2:"1(V!K^N'OWN$@N^'+QV)'!
M:).^*(\>28\UB9-*R)&2R(*-)D0K(QKKEY,^Z8A`N9%OJ),W27]E%W(&F7H]
M&91-*8[_3VF5)JF55<F5[VB/("ET&8B/]\=_%;E]`/62#KF6;+F&S1:1&OAI
MD=65MJ66;OF0WDB-*O!/1_2!_D67Z\B37RF8&OF'=XF76'@<4YD#^^B5&MEE
MS<A+T0B-)Y*2_89XU2>50_D#!,)!.^F8GPF:6<F46TF:76F:@RF:2$F8YT>6
M](&.@`E$=IF7B(F5JRF88<EX8SF(9F1;<A2;2ZB45\F:HVF8D#>0FDE),@8$
MC3D!>3*;3GF;J/F8QAF=%/9)7@A9S6D<T&F;PEF:TQF:ELB;A-A693.+0">>
M@=E+?3)^&1)H#*.$(-*=_&AZKLD#FPB;@%:;28F1JDF?]9F:_^.91RYH-V5X
MEJX7E?[YGPL:GL6).KG9BR)9C*B1G]*431B:H1JZH8K3`^C907^F@&#D<U\(
M!3.I9S.RG+WYA"O:3[XI4AQ52(<D-R>Z#LBW@1E3HT1@,BH:=B/:)_:V',"H
M43ZJ.1W3'(C`"SM:EB9@7\1C%^"U`JHP$07`/?/BBMN26BZ7`E.J/="A`#(`
M,*H5AE@*-OKA!QW3I9\B5S5`%5TA`E5`!I;1+"!Q55%:3Q0AB\#P8.UV#XGE
M7'8@AIRE92IP671#A\>68WYJ`,P$`[%C50/@`(1*&L]3J97:",\C`0VV!9;:
MJ0](!,F1+YGUJ2:09)C0<21*`@ET"__P!0.FRC\Q,*J,5:*JJJJ6L5YR9ZJR
M8QR=6JE4@2Z:R@4,T*O/0Z$`1J1U6@R[A6V!.BD)XFX:Q*@1`!`'!Q(P&HO.
MBBZ!T`!4\E952A$`0'`HP*C"Y`G/Q0)XX*R!=3([TAP4E`^DZJ-\0S>,\!6C
MZIO0,1&@8``&EZHI(#56X#4I%@.\$@D4-:DI\"QH@"WF:0(`.Q@VU;":4;"P
M\*&J1*R=N@`8ZZE0L`?(Z@(JAJ\E$+(R0+(EFQ,YH&(HL[$LB[$_1ZOY6*3^
M2AXN=9`R8*GG:*/'VK`Y:DDM^[/%RD`C"D075JR5V@""T!;`B@`.P`6]:JPM
M"E<345ZS6`__[V2EQY)B5!,>$N4E-#6EQK-2#"`/M2%35"M.$6"UM;$`9VHY
M)K0?D^"U;6L1^K,?=SH3IJ.U%K$M]52I?Z`'5V!`<<H0RA.T<B=J\857-J8`
MA7,L=TMCSJ0`7^$KY_6`XD)!M\0U=:6X*\&X8^.XR*4)7W,_7J6R)4$7DSLX
MMG`_W649$*2ZDQNQ%]NKAM`(CA!93LNQ2T"OFF`NKG"O*I!8MV`0!_0"5&,5
MVH*';I46V/"[CSL"!V`W0>%>+G"\V:8+"$L"PDL7(.$)E[`RM#NL"L``#%`%
M#1(`"]"T3]M(\;H9P[6X7T,U^Z%6!@!-'2:Y#696)6I9I#LX^2%9I^_;N?'K
M5>J5"J/[%1*`5[;%OZG;88VZ`O4[-OPZN>6S-[WZ"LK0"I6`#NYA)3HZ&KIU
MMCL!O$##K\2C/UO+L%,4#[Z%5=FK(.2EMR/\O&GFMEM[8KG'PEN+PI$#1":<
MM2"TPSAU&4`+M"XZ&3>*`R)CM$7LLCXP,A\XD5#K<SL4/H<6M1\\NYG1Q,0*
=LQN5Q4J<*2*[HHC+LSL2HDT`QC.K,6I<`B$``#L_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>13
<FILENAME>u49809u4980912.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 u49809u4980912.gif
M1TE&.#EA^P"P`,0``&1EF9^>G[FYN*6DI9>7EXB(B+&RLM35U<K*RI"0D+^^
MOJRLK-#0T,3%Q=34U,G)R:NLJ["QL<_/SC&:9/EE$-_?WH"`@>#@X0``````
M`````````````````````````"'Y!```````+`````#[`+````7_X"6.9&F>
M:*JN;.N^<"S/=&W?>*[O?.__P*!P2"P:C\BD<LFD'0B6J*`Y,A2NUT"#U6#,
MM-2PN&49'"X"RY0Z(`C>Z;6J((<USN.\7F1(D`0#%P<#!01>;X0$9P)7`@9>
M:(X"!`4-C(IH"04&%P:,"R0#@2-T@HE>#90#:88,DPF'FIR=J06!CX(!A0<-
MFJ-[P$0)LR4%"8`6@Q8+K`QJ:6HBHHT#%L<$!`T6GF4%SZ&_%Z4)QPO)R]`6
MAFD+G&G<@=YOVZ6%D][,V\'[0:4ESB,(&&@C@I&V*0S\39N5#$VA6<[\A8I"
M40U`$0()B'!5*DU`B!;$S9HFX&*G;0<@__%;R>.8"48C1(DJ6.!"@"B4UI`4
M$=*AMXH28X:CDR[*3%)38(J0&%(AH3<UJT1)L(6E51P+-(YPIBW@@J,P#TF1
M]I0G39<;@Y(E0:?KQ@4!JG2,>@$M0*=M>Z)!1>ZJWQH'H@DJ<V$9&@L,P&YJ
M2"ZNMK*%:1I`?(&0VLI#IQAV%J=R(X=2&3S1B%<S*&A;%OCYRSJ&-@O>XEYH
M\'.*8ILX7Q<(`+DGS&JP:=>15A'V%-I&#P<WYXEN99QG2L^N/1FVRM;86UBZ
MGKV[]^_@PXL?3[Z\^?/H6U<8L?Y">_?L1;R?+S]^??CW\=._OU^_??_YM=>?
M@/\1&."!_!6((/^`^#&XWX`+&MB@A/TUF-Z%&-Y@@`'O"7%`7&"\X(@)M&F5
M1Q=+W?!A)YQ8@44EYD01`!X+5$4>`]P%L8HXP[&0`!ZD#&#C&/[T&,..,[4!
MAP`W;<$`%"(<L!IY;]"BB@@+&+.%`+)(P^6/A(QB!5I1]E3*D[;@00A5O=C2
M23B3N3'0F:J<X0DEENQ"`IIF1*++*%QNTLDGN32BCA>C\&EG+8$\H6>9:QUU
M@3-`BH21D7ETV,),\KQ3C0#FO)-&(.IP6<8[H7;&AVQT!+:*)B>!&D4^!@1&
M0IRLE.1JH.+04<TU)NX*:S6KE*$-/)V*(R=.7H0D;$V=;H/-)"8:(%O_DK\8
M8"(?JTWBEZ8H<#I2-0RLQT@$&X5D@02'K2<*915H"Y\;Z]$A[WJ(05!)!<X8
MX``D\"ZEV0'KR<M30AP6YH!#[1E<6&*K.2.0>Q&M$:\(#HQ56+P:X2N!H!6(
MDD``HBU\::05S20@3!782J%]$$X(LX(RUR!*!4[IQ>,(ZM)$5G%T^>/K+ZTF
M8%1U5.V,5&1K">R/;W1).C3//U$D$2,5K1&2U(SH)"1%<CB%F5`E*,7T>)QZ
MW=!A:P`$]<]X'`"DT*#*5M@=<D]V7%]!E:(77#P+9Q9H6-IM00,#R!88F0FU
MK49T@H4$.$^"8^9%8GJ)+:E;7O%<7MID89,2_T6B8<.T4J*(+N4O`<Q"!V<7
MF'.!Z8$='KL?:PM\-NRR/^USNE/(7LT=!+1.F65K:'-&C%I/&DWO:G/">>N1
M#E7MVB:)!SIF3R0''"9O<P^%.D!ZNS,TE0CR4SM1%("CSCOKC/X6OA->4/M;
M#&`T^<\%)]%-UB@`<TZ'/Z6)XC6"08-6L$4"*<$F.%6PVSXJ]`)PZ2!W1R+&
M$"35!`RBP!5#$D>.Q&!!'<3LA.PQ`"A>EB",186%#IH9@D(6B`?1#(4SM(\!
M(!"A`Z4"AD#L8<TLE)\;E-`'&GQ!`T(HA"J)(8DN$$"E,G3$#%FQ"%5\07&V
MR,4N>O&+8`RC&,=(QO\RFO&,:$RC&M<(/YZP\8UPC*,<YTC'.MKQBGCL3A99
M0($^]A$`@`PD`/Z3Q_1,X)"(](L?_RA(0(H``9&0H@`@N1Y*S@P!"'B`W&(H
MGP,H`(<U`Z4H91C*&YHRAZ@LY040F<@+..``<(`E`H)X`06<898DL&4)-BF#
M15*@D8ZT25W><`SJH>$`"%#`(VVI3"8%`).PO``F$0#+,T0S`:`X)B0QJ4P%
M0%(!RBQD#EAYR()PB9A,(H84P2D";];26@N`9"TS:8%OVA(.R:QE./FX2&`.
M4I@6",",,"*"`$PB`,H<QL@4(%"#<LE:`5#-,0(QC``D0)D#Z`.(6C<0`BC_
M@``#D*<X;4#."9@SH`.=G9<*$=(-^0$!HC#HFPB`@!]]M!IZXPU+1:H"7_JS
MH,(,*4%MLB1A.K2A;]BH3120@$`HM2X-M0F((D$(GHYT!B4U9UR$JM).6+2J
M#-5+`&B:.#])(PMJ&!D@"F#)GO83F$"-BY0L&DZ'5@E$217H&[`!N(;&A:^R
MR4KKH!`7IEZ4'%:]:@RR:M:Y7K2@%D6LM@I@S=:UP[`KJFECTNI1Q,)@CQ8"
MK6*O2D$LKF"4+52E:FV82M:NEI2NC2UL9YM:V=:6E$L0[6AWR]O>ID>WO@TN
M%8ZH6]$"5[C():(1BYC<WFKJN$/HD(%0R\GJTC)F_]85(G6O>\K7WO:[RDT"
M=)M+WO*:%PFEK>!XSZO8XA+2!^MEKWS#F][Y7LB"\8V!<5%`R^P.D;NMI:U_
MMZO=[MIVP._%3G[U,)H%P(6MQ0N'?>MKWUV>0:X+4``G)(C<]>JV>,\LWD#&
M.EH-5P:64^"P?6NBK1_U94HLJ``D07KAN!A@G\Q-CXF%:6(5[[:$'2*$-",Q
M+2BN0#6R$6@%JH3?]"`@H*"0380K3`*[V=A:&WH!)--0XT[@V(UV#+.8QTQF
M,IL@+B'#PUZWM0*!TE3$B6/SX*B,1WR5H`)_+1XDX]*7'[21SAGZ,PZ.*VA`
MA\>"(=FCAT^[,4/CL=#P??^O7HCK:.^T!](+UB)_*[T2-S/5H_'R\=FH`.D3
M$/B_!0YP?7S):E2[^M2P-K!]9OE,:8:TK"=H8Q4SG>L,L=J75QV$-`F0%6'F
MFM=WCD&IP_/K18Y4V/*TQDV8N^Q!D^!!NDXP=IKMQY&B]*/&%'6UD9V"1,>X
M.]SNHWDO?>UV&Z':WTDW!8)[1'@/P=[N]BZ"55U=>0-8W_\^<,"UO0)\5U#9
MODZW?"U`[BJ/]:,7!7&O4]#P)<A[M$`N`?Q$W`=/9!.X>Y;G6&6JJ6R;.CL7
M'ZD_`SEQ<U;FF21VPBCB"0JNLJ<G%<]#RL6Y\F!JG`0.<$,R.)I2&`C;RT-V
M(@G_RLST+\J[Z5`78\\!T,4&)C/),)<!2JU@T.+)>=0'WS?`4UW*E`N<[&=_
MM:R96X&IMUP0(W.'(X9Q[X1S^ZIN-P'#7>#>'/^GT-)%M\)5WO.W=S#?Y-FY
M%=^3]Y\C/N<HV/N%%DE.=7>G)A!7IAM:T/CW&-P&];9[2<N9'2$C%)/6PE0)
M&K]T)G3(X,\5\,#!"\,^CKZ5L>;W[.$3@`H,8Q4.E9`)6.\Y10NAU)`_`@5N
MS\KL3-4F!!C9R4E`_#GW@,(\PRYX*F_[YF.GL&/=LNJI7WC["#KYD:<!^G?`
M?3^2LY!N+SGB@Q!X>Z__!ZS\]?NI*(+J@WWZX94#G_<7_^WG2][7'<R7@"MG
M>$PP@'Z1?\VV?P28@!184BRG=SD'+E6$:7R'=K+G@:L$@;\6@JTD=FD':Q68
M@JQT@8YG`IFV"@BP&X`0<RU(<*TA@B-(@B:U$MUW>YM&@2S8>NSA9AT'*C.@
M+8[`&RMR8Q8R:2H0>RN!@ZVF@SNX#\M74MWF`E.W'SH#4Y,$<U\716]`30(5
M"7J''E(XA3H8A04X;UI8?C4X"9/P(1N24L`UAI"%=!H7=4V7AKY$$>3$AV*$
MA:Q&1E-7=2/08Y"%`**V`F_`5*T39PS(:/,G!LVG>`>8!X2HABS@?_"3.('P
M!AVG7Y5XAD\8=KDW=OAQB>DF(/_[MWNP6!^;R(G:YHF;%EV>DVS?P8IW1P*9
M&`9M"&SGUGFYZ'=%X(3AX7V*1X5C$(S"R'EP*(1AX(#W1P/*.'B^6()-\'YF
MUXG16(SG9FVF&(XL<8#+R(S;>(V]>(O]]XW6!X`S(%H.N`_FB(W92'I+(('G
M&%ZVZ(++U0+L1G'DJ'L@&$/-MQ[=*!_O=X)KYQ\+*0+[B`+]:(SB6&[DD8D1
M^8M%(($0.7A[Q'H!.8U#I(L4F8[X>`$9J9%"P)$=N8ZG.)%'`"[S"`P8:8\E
M\(O6DGDPD'E\=9,J&9$GX(F[9H,X\&<Q:%"@.)!*\(M`*8$P)5#>E%@J<'JZ
M)$&,50+_0#E\[OA_XL65UC(`#A`7`O!E+;`;#B8Z0<"4-NF3^*@1%C40XV<"
MOS<%.T:%58B5-BE\[;AR,@F/\4B2Z?<29.@&F^>/_CA7F%0!&6:"M,5*\[%S
M$O)^D!A0ZX%FVI5D)K8>5VD@6;EZ6SF3.V!N]2%R"``J(@5:I:E27$*6.J"1
MG9F)"!5^.QE^4&:7;G5W6;0>(#DXR<<DQ"9Q\F<"D*@MO'%<FU1KQN8#KKF6
M;'F2[,>2)M"9Y+>`XPAW`E&$'V<SLR-3U6D"VO@"<S4`<$%30+"<+HD"*GD#
M5YD"TCD","DW'P*&H/=.L5,95E4!8*2"AR2(@(A(7/1T8<1*_W(T>F($H%+7
M<XA898I`=%/TA)HB&^+7G<VIG^FIG-_9DLW6`M`I`Z/W`NVYES\5G%%R88O8
MB"T@930HC2=`H0E(>P6)2/WA;T(D@?_F@ZGD'I#YA!/9,E,FBG3WC^E77^W!
MHAN*`^GYH>OI`LR7A?QTGBH`DX>'ET[JG2W:`T?*G.A9I"MZ>\^X`OMH05!J
MF`'XE_711EFI*<SWG,Y)`A\J`DFZI:.7@TV:H0+IGM$8DI'F`F:J<(%W`I3W
MIM9XH2/0IFYJHX6ZI'0ZIW+JC=19@T3I9]&)I7YJ@%H*`Q7ZH7]*I!/0F>W1
MIOUX?QL8J5-J:OI7J1HJJ(,JJ5+J?O_ZF:JC*JJ)FD5A:D30)9H(J:JKFJFD
M-WN.J2`7AT+<UJ*/B8UZB:&+N@*S6J=`"H[&2HNWR6JFJ@*5BJFXZJJ)ZJ7,
MV1_)6I(`>6Y[BILVF&[1FJ5KFJO.B@+4^JKFVJ7(6GZO-P;?>JWN]A[R-JY4
M6JYL6JW-RJ[LJ:\HZ:\7`*75R(!M>G'V.@(5:JW'VJ_JFJ\-"Q\Y^J2?:02A
M>A\%.W@'NX;8^K#[ZFPM\*6PNK`IL*VA%022I[#GBJX8^Y`YY'VUUXI")*.H
M]*N*FK)!.;%C6@.:(HGY$:\BJ[+K:*\)B[+\"K3RRK!':[0_"RYY]ZXD$&'8
MJ0,V1I8^RVK_HH6)0XN.&YNTD\JQ_^JUGHJS[<0A`L6(8?@%9KB'_%D1@?A%
M`KJV<,N??Y!B=&@M#4IQ&BA,3.BHROI92EJ/NNJ&(X5L?=IN.J.(4L6(W+H"
M/,NW.DM2W*BKF\IIFO:TO!$)HTA_.K-?,G!"L\A]C.FB:D>0(TD$P(5SI-:W
M1I""==:M.39>3@N8\SFO/U=Q\56!&))Q2P":%]2!?CE.:<I;N?F[I?B.IP@$
M`]AW6(6JG`9:R%>1)_>\OKL#5;(*F6>B[#64*DJX"">[UV=@-N8&N-0Z^Q2+
MHZN*VI>W2BFF-<"[`MAI+A<[>R9.`RNA.3N[\F>[[.L"LE$E>XN]_]D17\/K
MMURINJ$YO333`_WK"#)8E_1+B6$7F)`GCRL13R<`P.0QP<0;!G9&DNIK!%(I
ME>K1807WO=I6O]_BO09<O,/U'@8U5H*EA+7K>A]XO@Q)NMA5K.A%P".P5V4[
M,D_0)S&P8X%0/%(D83.IO(:FP_>+`W$Q8XX`4M0D82>Z'B96<P_`87&[Q5S<
MQ6`D'WA6`14``0G@`*L@"@PEQC"09(]D5L>KN].'PLT%A2J,M[WW`$LF`"$3
M`1%0/,?%A"CJEH\*O93+CD)0F5*E$8-04V6HQB\@0>UAP1Q<Q^=!87(,D&.,
MQV*\R6(,`9H<`R%LR#R\OG'<D.:;BMCW%_^;K,F<+,:LC,`;3,J%?+],S'8[
MX,C'.\J/.\L\P&OCDTT*<'ZM/,QJC,N=*\JP/,@L++Q$8`Z>5$_B(,S&S!Z<
M3+&Q@PVRP5"?E15^K),O`(DVE0`>970C\UA>1<YTY24Q,%;$AF<I>J(]R<UW
M>VW#K&3XR21I0,R7[`(K@@8&P(BB9D'][`B4U(C@HA4?LDU4/)5XH!%/N<8-
MW0F%Z0*>4%#(9&R@5=$V<=&+F6#$#`$6\`!0\``4`0'$'([<R[Y*Q\8B(@>!
M)<*F)AMX-FPKE,#M864J)=.GU'L%92YRX%I`Y7)')\IV4R6K>5K$/#X6\$GX
MJ<_(C(J`45A&F)S_+;`B"F"$>_NH#HT`Y$G5+#`CR'18T_;(<E-3\4O1=/E,
M0PV0%<U0F!34>)L"[F1JTZP'61$%=56\[W'72\UU<=D@AE4&X&9D*2`E4#`E
M&#P"AFT-9YW+8Q4%@5&&:SP^!S">N&28^IS9K;R_O;S!'0+3X0C:+B#:+4#:
M+&#:*\!+G(T"JAUCFOW:=1W`KDM?5Z2_Y^;"D"T%U5`3..$>L9U;O*Q^3PW!
MOEW/^*D.$>`-&1/,"%7-`&C;I`C<.&S*!3G(<ES-G8Q2T'#/`Q`!HMG$X%VZ
M%!U]3\`;UD*>$6#0M11]"A!GYPU)UA*`%9!Y<<;5U!.#J<U7[SUE^-UF_V.U
MW[PA6)?MCVYFWR-&4S*H;7W\(U`;?@E.UYM\$H,@$-X0&.S$<!$.#.*W87)U
M:]@K<C;F+!Z^`B#>"90E3,63VEUV`(+R5P"\9W+5X@%^VC;1)V7(=4*<`ALN
M5:8@P\]]W$NMV["1,67@W(N[RY3L4#P.?1BM`@N0Q8=14(+LO?$DECW!&XK+
M`AHF&]&`Y1@\"%R>8K6B`-FD`F">AV/8SVUV5UQ.AKH(VYD-'_M<RF;08S$^
M,B97!<H4XJYD#&.M`H!LXA>V&]"L`HK(XAM&Z*(M;#&^82*7VH%@XW$1`7D-
M@'7.X2T3%0&]V4AMY'J`S?:=4;+IU2;@U^X]ZFS8:^KA)V)PC0)/%E$`/@H`
MO'6K'N#8P%,R6;9P]G!Q5T6@WN"=13T:6,QPOAZ>;LT17,NO2Z8WC+X-N<)'
MWLN.7.S%3-O*G%I6,>>=G<O)S"!\Q^D"6>V4O,/2'=Q@?.S^*.[!H.W:?E]B
$$`(`.S\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>14
<FILENAME>u49809u4980913.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 u49809u4980913.gif
M1TE&.#EA_0"S`,0``)^>G[FYN)>7E[&RLK^^OLK*RJ6DI=35U9"0D*RLK(B(
MB,G)R=34U*NLJ["QL61EF=_?WH"`@?EE$.#@X0``````````````````````
M`````````````````````````"'Y!```````+`````#]`+,```7_X"2.9&F>
M:*JN;.N^<"S/=&W?>*[O?.__P*!P2"P:C\BD<LEL.I_0:#,0&5%-U='!((H$
MI."P^'95947EL7K-3J4)@@DA$E'0!?1Y)#$1$.!T$0<'=G4$;8B)2&E7"@`3
M`'2/``H&$0437E1?E08*!YN*HJ,_C%5G=&A>69I9`)%?F;&DM+4TIIDCJ1.;
MK`%EKUY=L[;%QBJXCI"[O</``)Z@PL?4U5:!@1,%=(6JVPBRSQ,(@<36Y^<`
MA]LQ"0-=A^CRU@.!?##;=.#S_-0%`9AD@(K7KZ#!@PB/01BQ<$)#APPC0A3Q
ML*+$B1,M4MS($6-#C1DO:@3Y4:1$DAU1_WH\:9*C2I4A4\J<J>-5PIMM'K+0
M.<(FSI_%#I2+%.B1'D%'`P)=&@9`G`1V,#EZ)`QJA'<"S#'=.H6.@0,%$D1Z
M105;)`7WN*KE4;)%`4MW`"`@J^F7'#QQUNJ=P1.&`3YSP&U[!>$JA`01$!SR
MU'8ERYDP&X]L&=-Q9)J26[ZDG-DE9\R@/7>T<92<O@A&`Q%`G&>OZ]>P8\N>
M+:4O[=LM8.+>#<;V9]&.@T^&_'MS:./"CQ?7O)RX<N<D?/.>/DHZ==?676#;
MSKV[]^_@PXL?3[Z\^?/HTZM?SQX+^_?PX\N?3[^^??'7\\?(GGN%SN'!508@
M<@,R!QV!CR6GX/]E"S9GV6_Z12B*4AB)4,"%VKB@E83&\'?+`AAJ0\`!AP1@
M4P"@:',A*`>@<4`"^Q0PXB`D#O(%BQQN]0J,(B`PP%P$O#*)CSLB@$``7`#P
M8P)<%`!-70`<0.217.1(2V,5KF#3(Y!`\HN0D$PR"0$().GE%P',]<N:7:I3
MII6*>.B?"%O2>2:83@D@5I@V)2!`5C<BX(>1=OTIED]P0@%2$?QUIN"#!QH(
M:8.15BJ@I`5:ZFBF2LB9Z*>@ON9IJ)]*)Z>'HY+:3ZHI+*KJ.3RQ&D1?BVX:
MVJ7`(9@KI@GJBNNDG`9+TQ*RROKJL<BR@>5^R6[EJ:L[&-NL7M!.*XK_;]+.
M.9JV)50D[*[@`MLKK^%^RZ"OYD)XI;7LMJMHJQ>Y&VJC\@*5K0ADCC`7DT[U
M`<VP]2I;@W5.YB4E`$Y.,``!`T#`)0K8!GP0E__XRXM=#^MRW\8<=^SQQ^:]
M0#$F-BW\3L9=G"$Q4X]\(0``_,;Q<I4D[+(R5PW#8//-4F3ET,M<BB46`BVJ
MX&'1MQ96Q;(\)V$``+%@$L=JKQ!0`-)([!Q=MTT389<(,!XPB1<"8!WO#UJ[
MD.YSXEK*P-+^^B&`8OO:^JC=YY+;-D-?HQG!RZA=K#8/:1<TMX4D(RSC7!0"
M]<N%3^<%R0#]GBU$X05E++:/!A2Z%BBVW<NU_^4E8-[/PP28F0G)]I9@-K,X
M:)1VM<:T/)@Z3A7P<EI;/>#[[\`#K\0N]%;SSFP+!:_\[_\187I!K\.V_/+#
MJPQ[WIJ.6Z[VORY$9D-O*RQ7D##?S39)E#>4[Z$%J+EM"=,KGX.C[N57\`B'
MQU)G"T)ID07E89+<"0:P)VWT:Q*4^TH+XA<\;NW@>:+#0?_P%P#*"<!)B%*!
M!#;(P0YVD`49>Y@!VI=!%1Q.!(<C(,(2`!`0DD!,1[H:RK(T`08*CP@ZF1W$
MEG#""3S-1!/8PLLV9`(/&I&#+NR)"`Q``(R)[(4]"4!6!(B"$';I:S/DF@U_
M1QFT9:$A$_377_+TBO]]L`"`XKM@&2W8.!-D[$MTXL,(67#$([I0?WT8XLR>
MJ$0Z,:Q+6N*%G2*G.Z@M<(L/J%X)3OA'+E4I``11@0KMM`5>!&F)@;0"$+>`
M)B*2H(Y&=,'Q<-`R.PWR7RT890T0F4@@^"9M7')B`@+R"+QQZ98.\Z$*55)*
M"/R"C4^KI69`Z4'C'.!;EWJ'W2[5(OK1<`2L5&0)N-1(0/Z1CX_8PA]EM)I4
MXH"8'U1"]&``3B2:@"?1-%I_WB<16`IRC[>,0<O8&+27C=-UWRRG!&RASWVR
M()U;NYSU&J)*'!24"?WDISZ?N9%H1O`%=+#-/6<PT2,DE(X+M6A&5P!0'[S_
MTGIJN.@*1*K!C9:TG"T@:0HZ*H2'/&^'`:74WA9R494D%";]C(Q(4:)2%+!T
M=#U(6T]/,-0BFC0%12U!4C]Y5!2HU#8_I0'M-!:2I8[`JB+`Z@2TRM6F$M6K
M)NCHJ/*%0FA$3HSU4^I"L]-5E&+4K2,%JUKA>E)PSHF5LKJ?'$[V"),!DB%"
ME2M3Z8I4P5[5L%E%[%856U,51!6H;D3#%TZ$,9X$EK!.9:QF,?M5SAK5LW.U
MZSGAATB89K*1?:UFZ;K3S_&T5CRO#4]LP3/;[]36.[?M#BN[\\0`0&!FD?LM
M*FL&TIYJI+'!N2EF<@H:Y#I&N9#1JEAG<-`57%:T_W$%[6"Q6U=BIG2SW"TL
M7*6#UQL@S514Y8AS.QO>S&KWL.]-;'P7.]^E-N2Q`OUL>]GKW;?N5[_]S>Y_
M0QO@[H+RD%LT[4/3N]T"BW?`#3ZP?QWL7@C#U\+RW2\Z2SNK$UR7POR5L(!!
M#&`1&[B.WZVO8O$+@^:9H;A'E0QSD^/<XZZ5,C,6SDY-(ET.LS-:*2LQBB=L
MX@>3F,!%KO"1(SSD$8N8O(A<L';.T)"V8IB^5[;RDB^\Y0QWN88^/L*'#\Q6
M\'Y9RTD.<9-/;$?3LIBA+^C+F-=LY#0+N<U.IK.2[8QD/:OYB/R)JK$\-&<\
MLSF41/;SG1&=9T/76=%]=O\T#=\\.(C"F+"QPG)_;7KCZ.IS,SL638T7[4$$
MV_#'/5A(H1E]Z%(G6M)_9O6C84WJ<)[@(3U.\`^DHS4(H!G23*9UI&6]9V!S
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M>]?5;N*`KSCH13#[3F;,TXQR&J4X_31G?&[KT(%YZMM&@;,=PO>FQSKL+$<\
MV+7.]*M#=J@P/W4.]G76/<X<ZH;?>KX57WC'&YWQF/>\3^%>F14<+&%^%>:Z
M_TUBG70^Z?>&_><SWWC9WSK'*R6]#/XAW(M--JVAA[W;O9[SUW/]Z[F6?+8P
M5#+5$I<[N86^/ET[?=A67[;7IVWV;;M][^R6.S/877`M3]P*&?]7T"4)W7EL
M]Y885_/QNJ_N6USV@9Y?Z:#/.NV#?_SBOQWP$F<#EL5Z_\A7;?Y'?#MG52Z'
M=QP%=]+2*'(',/<7>_V7@`:X<PZ5-00(;%5V@3WG@9P'@ODG`B#W0!MH@0CX
M@2D8@N,U>Z(G=9+G42E@,QVX@B.X>/NG?R\(?Q3H;CHH?/'R4U-E`Q%5>Q5H
M1+9B<1.!<2"A<2(Q@;D'@`.C+1&(?SF8>#<(A4Z7?PMX924H59?W@T?(@FQW
M@&6(@E[8<&)V@K)&*UIX>%DH@DB$=L04:/,G@"_&@RYH>W!XA3BX@T:X>7'H
M6>AVAZAVB![&AD?G>G((B/PGB'X(>8'8@%*H;F%(>)VVA^&2?D^H=S36?C,Q
M@;[QA3E0A3UHA8XHAI"8BEAXA?^^]G\Q*#J9UA&#]X=\V"UOJ(=;&(D;)1W)
MQT#2](BH>(N3>(K&J(D^V(H;9!W)<X>6F`F*V$&TDXO%B(S#.(9:5XB5."NF
M"%34*(S'N(NL:(NF!HPA1SKE5XWB2(S@:(WAV(?C2%*C:(A>I(OP*`%)"(K/
ME8E-Z(DZ9E*T0H[_Y&//*&=PHXK7N(KLB)#O:(\.25I2N&L,AI"^V(@+J8P7
M*9`)"5FVB%Y_%X/P4FG6%8V&QQ/?R)#NJ(ET^'7:%@3=N([8R(LV*)-G2&Q]
M08HWH#0/N1$GB9$Q&8\668[Q@X[]EHR7J)$4."!.N!*A9F-NY2A8]8HM.'H1
MF0/D)W+_*`F3"OF3&2F*6DF)(,D#C32`/#A\-4F&:Y>6H!20[3@Z+8F(,>5$
MJP4R=%F7=GF7[7$#SK=Z>-F7?OF7?6F5PQ4%S[@NIE64<9:82\&,W+-,>.,@
MR.1B:T%V8)@HA9D$J>*1L',S`'(VEQD&$7.8B&DMGH('>R`"0N%)0!:`7<.:
M28`8)'()?3`-M4$G8"(^S"(D?34^,J";$^`G9=.;MSD.JHD"AQ*<:*1.''&<
M!T`YBJ&8Q\D`P/DZ'P$!UGF=#@,`UJD)L("=V.F:0C``L5!!DP2>)"">:(">
M?\61(Z">%80)"1!)J32>[\`DQ6D"8H.:2E)`1*D%7,(`A@1(_W*2GT&$,+\I
MG]'AG=;9`!&P`'BP`(&```IJG5B7DX=I1>OI`A@Z1^NDG4J4)O&`'`_C,*MA
M%P1BHEV22Z/R-8#$H2_`HBWSG**)/ZHQ#.99:=F"GK]P#UF4C#H:`'(421[R
MHRQD2B]`I"\S%S&0GU:3%STJ'4RJ.SZ$H``C-A#0I'@$,1.*G02P`%OZG4[P
M-*VQGG(BIA$`!T/D0$M$%`R3.S)@IO'`HD<J%Q%0)3VZ`LY9IW\2H#"0IP9@
M00O@F0[QI80*ICK@=^#91HII(7"Y`HHZ`X^Z>XMZ`IB0F280J0DJ@)\I@Z-Y
MHQR"*H4:JA2*!)LZ':'I4=[)IG30`/]Z<!0*6J%XN`)/HQ@O,P!G]9MW.A&S
M"@=*PD:XRA^[6JMG=1BJ9QFSR@`SXP!.$:@$H`";X9R\^J>Y,Q<-L!/0.C-L
MM"^I-#[8.JWEDZDN=0!)N@UH814H0A'7Z:DQ92Q^TR+-1S4MT*YA$D1,Q)\^
M**_O:J]N<#%\1:]BDZM6T`7]N@6,`ZMH(+#S2K`&VD6Q<!4):P`%VRT*J@?:
M20>_@`T,X)U/\#*V>3&3\`(<.Z_S"K`D$+*4];$N`"@B^PH$V@*=,UE<(@Q4
MI`(O*[(R^P(UZQ,R&RL4:IUSP``0"Z$*T``-4`F%\06&2G5&"1%BLP7NVE=_
M$PE$V;0*1!BV8@,X[%F@3CNO]8"U+-"TJ!5$"C`7LLD"3!2VA,`ZX'FV`ZL`
M:JM.;)NP;INA@YJN14$'\9D'V:"Q1Y!#KU!(MEHY="MG?UNKODJW'E:X2G*K
MB(L%BBNM%V2D)J1'T,!&N],">RI%E9L[EYL=F=NM%W2Y$BNJA9H0I=H$E&FA
MN4&ZA.I*]"=T1DF9D7D^>E,\ZFH$?*LV"]&S!NMNI[N:"J&FG0HP(IF[JSNH
- -3O"[MYLCRHL"(0``.S\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>15
<FILENAME>u49809u4980914.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 u49809u4980914.gif
M1TE&.#EA_P"T`,0``&1EF3&:9)^>G[FYN)>7EZ6DI;&RLM35U8B(B,K*RI"0
MD*RLK+^^OM#0T,3%Q=34U,G)R;"QL:NLJ\_/SM_?WH"`@?EE$.#@X0``````
M`````````````````````````"'Y!```````+`````#_`+0```7_X"6.9&F>
M:*JN;.N^<"S/=&W?>*[O?.__P*!P2"P:C\BD<LEL.I_0J+1D,)`$#A.6U!B(
MJM.P>#PK%$B.@PGA'9E%C09Y3J^[SR.#_$!`%`P5!GT+#0AL%P->!0X*AQ<%
M"`2)=I251&\CAY$#"A6>B14#AHIG%0H#"Q4-!:&L>):PL3F8(FP-%2.>5H]F
M>&^JM0/`%P2OLL?(+[07;**9H2*]OJ69PG?)V-DIRVP.N"*?T;WB%]_,PFH7
M`L;:[=C<7H$7@-"\!0+DYFP$!!?>[.X"QF+EJ<(H?YX0A.,EK-^O:@<ZF0(H
ML&*R7>7DQ!B0C@!&BR"1(5``"4&9"@4(_U1(%[)EK`,&_M084&`!2Y<XYU`8
ML5-$SYX7@`KUR;,HT:!&D1X=>E2I4Z9,GS:-^C,I5*M&J6;%NI2K4JU=IVX5
MVS2GV;,D@+)0B[9MQ2U%'(P4,R"+.KLU'"RXJ\Z0WT<%7PWXZ/9%&B-^\$IQ
M=-B&`C6:%B1*)`#8+7PB'A>.H><1(T<&1GKAA&"7@0%]'(@BH*9!GP(L`4F*
M><BU'S6)(!E@I$#Q/-'11/7^`IRVEP,"1E4@(*?S`4C,$=&,A+O1WA&H@YT;
M<8OE@6$Q"U=E<<C4``FJ6`T.%4C8F5&L3O'[7@"UR2_+&PYH0)\TX-/FI4*"
M>H#$PT8J!Z0"BO]^<FQ"3W2:G,+*<Q5(MMPMH&`DB7:.7+!`/R00<-UW9K$%
M0WD:L:'*3L+L,@$N"$0`S@.(E-;/3BMJ5P&-\X"844H[.5(!4,-$T$\%=A$0
M`3`4"+*C3[L\\$F0`[R(E$<IB2"*-QPU0&0ZFA3DR1E`84)!CF1]Q158:J8Y
MGE1AP7E#>=68LQTX=WXC"D$%M;&=.;2P@8F0))CC#*!\)F2G*&*VT<Q]]N#A
M#$'#X<FAG\NH\TJ'FY$73YWI8`@'C&WHB<`"F%V@D8XCH)J+`X.66F@Z!BA0
M3CH"("C"`22.RA$S]71CCHB8.",')[9:NEV'WI2`9#6=ND!G,/-%Q`K_?_SD
MJ24"HJ(#K3FB"ABKLL2P=HL5RR&B2K4DF>.-&JD$&\]>PJPB:6G`9`E.BEYP
M&LD(?<P:;0O34L`&'Y[@0Q!KVM:H[D*L8I=0%N.60P+"*(%3&308LV;GQM;)
M<XA<X11KTL8(L"3`+IKX><$!"L7,TBUHL8F3G4T4TD(7JT9#V,`IF%C"FV"Q
M2?2:7IWIYM)Q%FT4`7@=/17,1C/=IIQ2PUFU4TD![?770G\M-@QAPR#FV6BG
MK?;:;+?M]MMPQRWWW'37;??=>'MB0MY\]^WWWX`'+OC@:(]M.!-EOY`XUTXS
MO?7C:2'M>-)69WW5Y&1!CCG69?%@P>>?`R#Z_^@`['H``XD<,``#(_":0@*\
M)I"`"Z<?_D,`N.<N`NR),)#`KRTPH,;L),AN`O$Q@!XZZ:)KB5J&KEX@^^^[
MRB[\9`)XX;OTPE/_LA<*7,?1[-9S+[W+MJ^0N^[JT"1*]@H0K_H%#+!._^P,
M&)`K\0D(?PCUOL,'1U1WDQ0HSP+,:YYT%%"978`H0V<8@``4((CL27!E*4D`
M!?L`!@I.D'5_8*`Z5I:`8H0&#.ECP?IP)P+X5697F%E9)`J0@"K8*@%FR)[T
MBE&`^#&C"K5:1ZTDU((#)K!TTL$'`Z[S0`FJ(XDCI(P`!.C$E5'PB5/,S!3Q
MD<5)6/%G*33!"@/0PO])@`B'T9@B)/KWPA82`(=>Q$RM$%"9"4Z1`23I7`F,
MF$#G"6`G`N"'^*H(Q2E*$8^/X:("/%*NZ'UH92K!1T04@$=&AE$%8RRC]ABH
MF0LPT!3Q$T3*7K:R!1A@D@S`S"*-1,=';K&(RCMBT"Y9B4SN("I%6)S6*,>Y
MIO%REYMK7"\U-TQ>$E.8N$2"+FG)S&8Z4PC+?*8T<U"V:%ISFLR,YEJZALV:
MF4";1##1,2573&.:,YCD1&8ZQU+.=B8S">#D9C?G2<]FODD&\:RG-Q4G3QWD
M4Y_2O"=`+1*V?[;@G;,\@>78J<ZR++275VLH,-VYSLR=LYW',.A`"T.`0);_
M$(.!W&A;RA:!#S)0,J=XC@N,MPXU9-$`]A/IP-I@QP1P$3:Z[`ER8DC%O1'N
MIT`-JE"%RA8:>N&-$K(D"QAP!MB,<!X,&(K>9-H.$TW5#;Z;70PITX($5&"*
M'XU)2'W*M7Y2U1)7+5?V.DJO4^;1!VG5(T0?&M&N/72<%D5G7BFZ5XE>3J'E
ML!-"@1#7L[JCL$I`K&&SH=@:Y+.QBZ6$57&14WSR<JH:C>P4(&N$PK(ELYK-
M96!5`%H7%%9_(Q016/W*4+M6[K5SA2U>Z]K7BLI)KKG`V39[$%<#H"H!DK%I
M34*+!!*A2@`VG2`*/)L$Q*X5-:=<(G&-0`!;K4-\__9C"V<M:U9GZ58=^6M?
M"Z=K!'P8X`'23159=WL#JJ2U)PH38B`+"`O4GG0>ZBV,`%L8WN5^M[E#8N\Q
M?"N`B""7P"_HE8?6,=9CF'>^?P3L>R-7A.VZ`[E'':\+JBN")78QIBZQ\!!$
M3.&)LK:UOA2+`""@54":>`22_&,@G\?7%]?VQF5M`8E=L!,2\8%8#2Z4;@](
MY&3@@ZT:=@$^'EF!WRT`>2&VD_XHV='ZI)0B*.#P`NIG4ZBNEP1$/F"TU!O(
M=62CFD(F0:FLD,66PH"+IKR'='R*MC`K;ZAXSK.>@6J4^GAAQ4D%(PH4YE+S
M@C@H>E.+G4&7!#SNJLF")/\O.'!6@/JQ69/Y54&,0>JC-.]QT19`@DU!-.,D
M=_.(S(M<6OFQ5C,/QEHT2%QA06V!OYY83DM.I99V<6NZ^EJV%[VU"%!-NB\W
M8=:@?H&C.XI<!J*/!?B@8RA0Z`):=XK8H_/I-=F+YMR:P-I=#>GL/.+F-\,X
M-+EZ`;AAN6@EZ"\B'M'?&UN`;05Z&@6EU;$Y>K+N%F!F`:>`7::'T.\5%)P(
M!.;53E^&Y:+4&XGWQJT0D-WN%^QW$D]$PL$-F&PEQ+"CID[!PYNR8\>J@.)V
M-O<]WMC19Q.\X^Q.N<=9*LF&DV#DWE6"=H<,<QS;NFNTIFO047R!H?N<Z%<Y
MLGS_YRW0$>`\S94E+,\K;H2-H\#J)\#Z%-3R=&_W8+`Y=XK6?3!V,/?<X&=7
M`6H[2NYY'Z'K./IOODT[=9DOCM:ACGF8U9UVCE-]!02F.<.1\/"=EUBTH_WT
MWU6`]VKW_>J/SWKD3X"9A6<\G!?H^J3)UMX3H'SO>@<]"\H^`M*+P/3C9>H3
M5>KXQ8N\WL;&]XCK+GJT3][LKO>[S$,O9HM[=8KRAK+M=X];S2?>"2C'7>]'
M;WK4.__V/2AXV(Q?\FV2J(1`[K37<6^!]3'ZFTUI?)J0`NZ%EK^UYS]Z;(-B
M]!50'V?VS14G.&+S$G"8IH:./05`-\8`Y)WYT'=Z`2B`_[D'>04(!%@G%.]'
M`A&`*@;69>6F9-B!6HF@%F>2-OS7?P'P-G@'-[06-Q_H@:`F@HL&@B/X-@^G
M-EI`/4A%$TH%;5]P:3`5>T6G/!I(1HS7?`-8@P?X;0/X?#UX<[`7=E?`4D%A
M00,W:+^1*ROG>;3W.3>H>\27@T'(?;4W?%<HA476>KN7.`M8`DK75K`6:RGP
M>0>D@9+W@SL(A%.HA<L'@&V(`E]X2X=7AD\H9E%(?M9F,T;')NV7-7\X%GM(
M.1MG(G,X--`4<02X>WDH?G"8A6ZH/'Q7A8L(B088A]]TB'-'-HG&$P5W@XZ(
MA5O(>Y*H/C>8._\GBF^HBJ7(`O\X1R3_A01FV'MJ<8H]>(HK-(F8B(MY2(68
MF(9VYWY#J(BDU7E.Z(,'R(N]QXO,R#Z7>(7-B(N^:(G`2(U.<8B`-0/:-(NM
MB`+1^(W@B(-6N(7,&&;2B(R_B([6*(381H/&:#9WV(UEU1/A:(LV"(X\:([G
MR'Z+=HIB!VK"5(@F,(=-]P.PJ(ZC:'OXJ'@R5X_,6(WDB(:5F)"L^'VN2#JY
M4VQ$&`2+,V$ZJ(:NYY"Y&(D6>0%1R(:@)S2\J)%$47UP%6#C*&:Z%(K32)$E
M$(ZD6)(B8(_K&).2*)(LN7VR1X<T^)&4F(\]67K]IY,UN8HC@(LVF0(BN9+9
MMI'%Z`/_<8>03MDY-$F2GZ.+23F16_F44UF6ISB,0DE-,L"-)5DV7?F,40F7
M8PF1<TD"9BF2)X"-.58#?)`]35B4T+<3C9<U_$AUMK9N1=.'7-%]=[F47[DX
M%("-:[<.\\=Z,)`_SV%H.S<4[=>4=>F33.F5J5B17ZEW"RF6\OAZ[5@4G3@/
MJ!)>;>94,:!!Y$8!&"=D=7:";M.!'*B;N^F;;1."OUF")&AG<)."::,%7@0!
M@18#/.5E5HF4<:F5GUEZ:WB=1XF2TUD">BD`L(EI_!16?\F:\1B:)O*6=)F:
MH@F6VPF:I9F3[YF-F8>6FP>&%%!EB.!6]?=/;%F:=V>482F=_]5IG=D9@(()
M<UX(>VKADKQ5GO$I>X/I%0*J/$('D$07B&$QB.,WH:&9E_1Y?)N(B"<'DWI8
MH""9C@P9H`#:GNXYFGJDEXGEH"XJEP/*H0_JF1V:GCF:HBQ*H"CJ=!_*606I
MC4;1GS-:%NA)G3O*HS5JHT>JI#>ZG@DUGZNI%`RZ`N!DI!9(H^JIHU'*I5_J
MI4_*I%TJIBZ@ER&J;U`ZIBW*ICZJHMCYHZBYI$!A>E^8IG4(F"9JF*Z5?EJ1
M?G4%J%"!F/U$J*I);.YH<FNY;W,:IF1:IH_JJ)'JIF_:HT[*GC4*HU.JJ,2X
MHI:JG4WJJ9`ZJ?*)%)HJ<0(VE%K*3O^5^JEQ"J=["JMR2J6(ZA1QA:<L8*17
MZ:24>JE<**MA":JC"J15FI9+H*OP*:FM.JS+NJ0M^JL]>J!\>JBHEJ@\T)&4
M]:S)VJO"ZJS-JJR->J3G.8"G>ELQ@"KCJ8C[=Z(IQX<6"E$8&A48VB8:2IJ]
M>J<+AES9(IN<UV''Y64+*J/0ZJI'Z:O).K#,&JY#2:R(&K!7,%Q39)DS@!Q/
M=9NYE9O$.9P9&YS`R3;"J;%A5IPA*[)$=ISUIH)Y<#H+D$,?4@-,EG_1*7W@
MEZ2DBK#>JK`'6X=UBJ#9>(@T)3VH8K$Q`$CI:JRBFK#="JXX^XB6:K#"6*R(
M)F7S10R/T$G_D#D#R%JJ-*NM.=NU]HJI"5NN>TF'5\5OR3:3ALHXOFI^'?=S
M@IH527NO09JMQR:PVVJS2NNT7^NU>=J9+ZJ@Q#BV_2JA@<46I+>N[-JT<8NW
M_X=F=CJW4)"U]LJMKZJXB1NJM]<38MM=.+"J9K6UW]JK>HNC2KNXJ"JVN$J>
M:[JIH+NT3(NYL6JY1TF0:LFY:8FXL]JZHRNE?,N[KQNV]69X3R"YI/N8$JJ8
M:1*O23&OXR&0D>.\[%BK@8NK84.\HDFY!6NZOVN1_SF[:)F5\!2S/'N]C`NV
M-[N[9EJ^5[FY>;JI*V"].::[VKN]I3MYBC:^<@BYW39Q@H6^:XJ]_[/JOZO;
MN[ZK`NS+D<<7NE@:K@`,K+*;NVD7-H\+M0ELN^Y+%$5;GUP[N0QEMNWV<Y?:
M./5*%?/+39'YO0D<?/M*7S,`LT)FN)=;HR5<O.J[%GZ;OQ3<FC47L?5G<7/F
M77L6Q$(\Q$%U!2V40Q+@(]K$%BY\L43\Q%`<Q71S!12@4L!E03A0M$)SM0LL
MN)+6O@85?%3;0RP\N%*0NLBPOUW,3VSL%ON[I2EF8W(,PG/<OIMA4'@L4FB,
M>18LHJ7:QE_LQT,:+5N\L#P6R"?```61#JS0!`65`@S`=JRC8"]P7*R!?==!
M.\RV%\P6`Y$<2/;#`)#B`I:L!HX&`WV9;O_WT$EV3#^2#&^"]KY[H0`W=*7A
MZR/]P&$P\`"8P<M>0`%).&BX<@#C%@.X3$K!?`(42TJCYIP\(@`/,!HNEP*X
MS"N\C+5:`B.`@`-[#(8P%G)F=9N8,1B&_,W.XR&L[&_?7&#);`+B#,Y^G&08
MI\1_G"H?A[4+L`"B41"'ML:;^,@A(CT:!,\J0+&^TP_4IF2\DDK4,PE;TP^R
M0TF?1#P+A1P4<-`M9#-7L-#(A1QE3,T"'3]:-0.*[`D/%(O7BJK!$TBF0-#Q
M/&4H@6Z9K$L[Y0F9J7U+Q=+)<GDN`--XT,Y&4=,K\57(=<BII!*V@I\:%<NP
M('Q>C`).35HFXCK_-Q#5,F#5J/S1+X#5R0#0\?R.K;Q/NWI0S[1,48?(&876
MX/?'.N!5RQ$O$6$*WV%A8,==*H#)*FQF%'`*0SEEG_P''D4_"+`X;`<!'256
M!+`3J`(6AIU]8144IP`6?EUEP?=*[[3*GXS8&J1#=RU(*Q=6T=,"*SO7&J00
MY2`,TTS6_DP#^/<RI?%$*YO:6@(.;%9SEI<"+*8IA095'K8"K1T:+N4A]>';
MM/U4S]%RQ3@:*_%4Z,:O.38`@/1'P#U"/5P"BX0+&Q-8!4$)@X$9T."=DB';
M;A!'+<3.+6!Y741(+-#=ZL)?X=T"?O94ZK`7--0"(%>Q`R!P+<#>UJ`.NN<%
M`^%3#J6-"]-&R8CWU4H!!I+TVF4F0HE3:;#Y1S`ST7FJ>D[U4LO11FHG@Z/4
MX$`-X;7-<-*\`LCQ`!=N7C\+>!Q^`,`LWB40+Q5BTYT0/PDC!FHATWDM*>C#
M%JR&&DM'/.W\>_K*:>:<`C+]V8=]SBK0XY3M4?<`U$0MGH%DV)R]UD?N48>-
M6F?5S5"0QV(33W]5SD]]E;^V?K-UUFOM#G#<Q5Q.E%6UQH><YFUN!W/.UAM5
&YRD0`@`[
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>16
<FILENAME>u49809u4980915.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 u49809u4980915.gif
M1TE&.#EA^`"P`,0``)^>G[FYN)>7E\K*RM35U;&RLK^^OJ6DI9"0D*RLK(B(
MB-34U+"QL<G)R:NLJV1EF=_?WH"`@?EE$.#@X0``````````````````````
M`````````````````````````"'Y!```````+`````#X`+````7_X"2.9&F>
M:*JN;.N^<"S/=&W?>*[O?.__P*!P2"P:C\BD<LE$"2+00BM2`P!4A$-SR^V>
M$A'")!`9"*TJLG?-7AX4(X,B:GA&$.!(@4I`0!,&4!$&$P)V4@!0"@`)"2)4
MB1%VCH%0A`)^4H=MG)TQ!%!X!P@3@60&H*0'4!-O!'N+$XD3$7!O@0,#$597
MM+BZ<V:QLY($!&H)6I[+S"D#"7Z"$6JT`6.LTR-4C]77:+*\C]_7W-S9$Z`1
M!V+-[<T"UN(!\]399%3GNMK=9-^\O;MZ#:BW[QRZ/.X2>@)#"!@!4]OLL7(5
M:!@^:Z?*Z+("AV&9=-LL=IM00,'#;0I3_ZZ)M"M:@GH864UP66D0/RIY%NG:
M1665)%VD:A(Z!]*1RJ-(DRI=RK2ITZ=0HTJ=2K6JU:M8A4`0L97KB*Y=)X0%
M^[6L6+-GTZ8=:Y:M5[5NXZ(E^W;MW+IRW[JUB[>OWKMP_?(-3+@N#8-9$R\-
MJRV>XL<J00ZP`\5:GBN7(6MN`T!`(3+&*@<*/=H`J<VH?3!F04:!HP$'[`1@
MR?-GZML_5J.`+4B`S]D(Z)DIX&=`7L)[Z2('?+QY6^;0__I-+EBY]>?3HR^7
MKE:&```05I&Z%P`7*#(#0!'"S=Z(4&G9(GFVX[F]_?OX\^O?3V.O"]W\!:@"
M@#DXQYV!@UUW(/]VVR7((((*.EA8A!16E]V%W1E6`X$"=E@$AQZV!Z(+\)5H
MXHDHIJCBBBRVZ.*+,,8HXXPTTFA"C3CFJ...//;HXX\GABBD#"/J4.202))P
MY(,63M@D=0U"^*1V%3III9174LE@$&8H.4)Z!.3B@IA).K6D#`$,@`HZN:1'
M#P#6J!DF(0:L)Z<"A!QCC#$&N(E.`.R4J1D`"!3@60"8)/#=/%9,MLIW=100
MIF^CB`'/-(P.4"BA\PAZ%)0MH'$%H^`P"J<UF`;PQD#6?,,3/:W*8IHRGC9S
MYH#@R#+&;*7.!D`?P=&#``+I#6M`+]\-&VPA`B003JU>*&?$B%A"6:W_E@MF
MB>&UV4KH;958*G$KM.26*Z*YZ++`X9+LIGO;N"E(ZVY3J\$;!+=1,IFMM=A^
MNZV^_N;;+;AH+6'OO`@G;&;!,1RL<%*WRKN#PP\G!J!_%2=T\8?_H:`@O__N
MVR_!(8,L<,#X'O=IQA`SO`(<(BR23&>3`2`%RPO/0.`;(O0!P`!7E"1&+SCO
M)Y`UWY&C:PE`-NWTTU!'C6()1?9B##@0"+UT6C)E6+1BH_I\P`$T?W<S"5U3
M;5C*`'\\\I0EOZVMP":KW+`,9Y.(TM=K]"&":0(<VYD#`"C0I89#I,UW%X:(
M8`9L9EQ!@%$\G*GXXEP0/9DC6;0B1I'V@@@!_RL48[Z#0"+\J@S11.R5]KJF
M#S%J'38'M+7'B>_M9>Q(9+W,Y>JV'3+*<K,],-S$#Q]A?[CN`#SOG91N@N6Z
MY^!WSZ18X=FQT(_PP/?@AQ^^5KN?=3EC\#8N@B&PI0DTZR=P__<5VCL+_V,P
MQTR2%7T(D/<)6Q&?`,$7O!_(!'0O8!V<X%&?^Y'@?8YKU`'21#_4\$P$/.O%
M.@C@0!,,<(`%DQX+GG<#!1H`$:EC@0(1A2@KG(8%$QS!!.N``-IUT!,*;$4!
MG"6+^JS@@P)L`@E7$*%1;>4*9-,"!*X`):(MT0`,P%JG(L0`>&S%4&E*G1E\
M:*"Z"2]+3$RAFHXU-/_!>`^(XZO<"X9X@__%8%0I3"+9?+B"3HG`C@DP`S0"
MU0XXZDI1O_H.K52`QC2J!G':J)[:FN!&-#FF4P5HR*Z(D#]!SD8`'&2$"QK9
ML0D4DH`M$*%:SA<OI,Q#3/,H"9RT1X0+GE`6ZXAD!8WPR>]-SV4\Z)HH/:&F
MS-VQ588B%@+&H0()&/.8R$0F"VKY`%P*(6V5!,`!%(5)LT&K%Z]T5:Q8D,QN
M'G.9M>38C5#B2D3HL5-*K(XWO<FD=793><C;R@2W(LA2!%(`#K@0>)`FS0*4
M39K=<F<RZU4"9@IQ;[WHU*AJ>*D6"%29*WCH-X>`Q5*8DW]E;`$G82!18^+_
MBIE':A<BO9(V;)I3B_*+:$>YN5*52K2.&-FF28_040F`\Y,')<$^"R%-9P5N
MF!LE04U9^E*7/A2F%EW:%5Y)TY8BTJ#EVR4*H+":H+I@J$85*%&/FH9.U5,6
M&Z$<$;!*R'"V[@1LI`%94[!6%+05!59UJ%/9.E<40+5WCU!D\P`S@9I:RZ_J
M=&H7WX;5O+S5@[5$H`JB.;9_NC&M\#IL"20KU+H&@;(C&*INPG+7&I1SB>#1
MVOU(EUG+F@"S(D!M7TW[`]6JMK/E"]4O<T6-T>I.L\5D;66+FEO>TM6W;M5M
M:8%[@KLZ;*9H$"WZ3%33%3571<]-4711--T359>Y_QU=$3--%-44P%&0<ZS9
M8V\KW-26=[7$/>UY7;M>X0;0K#F(*]/(F][)MK>^N^5J;_7[6_X&%[]GQ*D:
M%SE.^Q*7+87%3H()@UON-'@O@#W0:^$;VR`HCKT`-F^&T>O?$V"XP^I]*?H*
M"E^IPHX6$2#+@CU\7Q`;V,7YU6I6W;E5&9=5P$NX<(MMW%\>_Q?&PP6RAH7,
M81\7E\(`=&8-=+SA#QLYQ$1V,HUGO,Z/(OE>!8[QE%TFY2I3F9U??F>8DUGC
M+:<`MC@8<0J8[.*P1!@Y$4X.6>6R8@2WU+`='1&:1VHD%+_XR7\V\X\!K64O
M[Y?004;TD(V\&N,F@:I>Z?\RF`\M:!8W><>5AK*B/7GE([!9JR"2M)@I;>@>
M9SK0I1[TJ4FPYR3?8#6?7G6B9;UH6A?9UJ(F\Y@AFJ&NM%K)1!PA?:.,Z51;
MFMB73C:1T4PQ=L4ZU?6:<U_J_)8%NZ7!@WEP6R:,8ZDJ^=F3-K6Q-8WK8H=;
MU>-&];F/C&,E'+#650ZUN4<M[G63.]V%MK>ZZ>VU7Q\2;</>=*YY76]^'UO@
M\]8U[OR-L1R`V^#=&?A$2:WO?$-\WPHO>,;MVFDC/'SC!R^WLA$^<I$?%43,
MM@%!IQIP,V\VSG.1=F"H'>D[^P7;NN%V(7.:EC>CN^*SQG?0@0YOHM\:WUUY
M:Z/_P^EM5X?EXP3_^<4M#O)[&UWB'MWUQ)/L[PH[O.5"+_K4ASYVL5<=XU$/
M>=B/;O2N'ZQ(4-^ZU,].];1;O>QLQSO6;>JU`.^<P$2"0=RS7N&]EWGMAM<Z
MX<_<\2(,WJ;RENA?\QQ8WM+9YM/&?(:43F(!BU)FX;7F?*N=<+NC7>YJOWKI
M4>\EG:.1!SX#&DE,<KN\GG[Q<S=]W5E_>[Y37.^KQ[W:&`[L+_%3:;T`R^-Q
M9W;=DYWNSW=^\WF_>^'?7>$$ZOHGAA8TVML6/M<M4?C!GUWHEE^ZYZ=N^JV[
M?A-MMT0U$%OH;9;EZ%/?_M;O_>%57_)2`\CU0-1W$\-R__JG>+ZG<=*7=]`W
M??E7?0>X2`#X00.F-Z37?V"&9T6E(#A7%]K&@93W>V?'68UW2Z\&<`4(@@F8
M>"AX?PSX@*G730W':>T&>($W((\G,2VX?\!G@3N(;,LV@KES@KNS%2J(@"RH
M@"D8?"Z(6#/8=&L&=OSG@R0GA2;':$+(<3.8&P18<SRX@$AXA$68>]^T,5]H
M?6/Q:VJ62RGF@#HX4,P!<W@A<W9!<V<1ANRV<]Y&+7[&A@;8ADG8A7](A>ND
M9T`X@;;'ARO8@/BWA%?X@EYHATSX=\6GAE>8<TKHAV!XB;@DAYTGB05"@F@%
MA3TXA:18A::(=#E82FXWB3&P?/^N5H:,B(A&J(BIF(BQN(@WY8F/)HID%GE<
MA8&_>',K=1P=J!:0R!@&Y83"UHC7%XBEB'B7Z(N;EG)IMDA/MPU)IXFVB(FT
M"(O<Z(*K$8$@Q`2NB$B0R(SH*(NWQ(FL5HA\MF2\B$PC<H[JZ(C.>(I`]UY9
MZ'5W\X3IF(V`F(D!V8W'V([=]HD46(_->$R3)WF5IU^7EX%WX7/V>(3:9V'Q
M*)""&(7/R)&5%H[G18T]H!SOYHU]>)+;B)*S>(NUF'WN^(XS4([^08^XJ))B
MJ(A$&)),]V\J4(XK^8U`:9,527@$0EF^!H3*N(<UF9),^9-"N9`$J9/[:(BC
MIY!*0I/_M>B437F3+"F#NBB`H60"XI5E`+F18J:!P\@@;Q87:QF'VL@P%VD#
MZU![2IF5__>67!F46_D7XBA`(M5)O1!&B20UA%F8AGF8+,*/,#"7WX>8COF8
MD.DT/#"6-,B3"9.4>,4&*Y<5,0B3&Z(4;]=)P78\)T,RI8DA^*&'-7B9>W5B
MK#B`_5B"W0.*/0`2ZQ$+0T`@H<-\HIF:(_D"PS(!8$`2N]`&$$!-V'1#'H.<
M)($)?-0"S$E-S\D"S%D.,%"=*36:QVD(0>.<,<"<@+,>`P(!Y%F>Y#D-Y[D`
MBP`>YFF>2[``"54`$`0#\'E'\CE)+\!!]JE'XMD"^CD&B$!'__X9G_-90/4)
MH&9@1R[`05L1`/<)&^K2GN5I+'[`$A):GDN@H(')FR6@H2G$H2/@H0%00S"@
MH0ZJG"?@H72)5"FT1#'@H9M32F(!("`1!KGB=)X9EJ"HGP80`$:!HB;`HS[J
M.3```0S:HPG0`*E#,$?JH]]A$,XAI/DD"\M3`D+J"'-9F21PI5V"HEMQH>W)
M`&`JH37H,(IB"4OZG790!]]Q.$=RIH/@4X?C`G"Z'D!J`G7ZH=>YIMPYIUI:
MI[035V,ZJ!?J!4I*FXKIIZ,IECF@J#/@J(CJ)9`JHR5PJ-WU%1BJ<GWVBHJY
MFD."F9C:GJ%P#^JI#@Y@"63J#HHE@/^@R@5Y2"086IX-X`"CHP!5-`<+(`F^
M4:C3PCNZZ:GC29XC@`!/,!O8D``E(58S"I8ZHP+!1`""Y$\"L$6.D0+/&JTT
M\QDL<*W]E*W^="'<>@#2:@8,D'Q^$:[C*C/,2D.T(ZXTHZXK@*[OJDD>(Z&8
M``&V*@"X.@CPR9[NV:F7"@,)&@!1A`99X$_5>DL#BPB2XZX!\*L3L+"YD@6P
M`:02:[`'4+$L<+$-.TQ^JAM=H@<3.PH`8*E#&+&[PK#H0+*3*J$-(`BD.@<'
M<*H1L`"IJ@2G<J-6H*`KD+/^D+.AHE"!Z1EW*@M"FSI$ZP(^"Q!(0Z='VPT"
MZEU/FPU<I"3`-UNDN[19*+`.V20YG3%,2G8`"]"UZ/"U\`,@7*NR!*``PZ17
M)9"V$\NVLP!##Z&VC-D\D42V69!1*P"W&,NW7D*H@ONOXM2GV#JM^%EAAMNM
MB,NS3M"FA]NE++"X[HJX*UH"E"NMI@%0\;H(+52YFTLK!,*=#7"XH1LO@TNH
MS,H4K<H$NUF-$9JI#2.LEEE`@P&BK^M%<V,\>Z6E1_"EP)NZ[DF[.7J[S-"Z
7Y-.[MANP1>IU(=4%R.N[T!*])Q`"`#L_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>17
<FILENAME>u49809u4980916.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 u49809u4980916.gif
M1TE&.#EA_0"Q`,0``#&:9&1EF9^>G[FYN*6DI9>7EXB(B-35U;&RLI"0D,K*
MRJRLK+^^OM#0T,3%Q;"QL=34U,G)R<_/SJNLJ]_?WH"`@?EE$.#@X0``````
M`````````````````````````"'Y!```````+`````#]`+$```7_X"6.9&F>
M:*JN;.N^<"S/=&W?>*[O?.__P*!P2"P:C\BD<LEL.I_0:+.1J%@=+H?@IF4Y
M&M*P^&A8B!"50^N`M0T,+,-@3*_[*B3$(&%`7/0%!@YO!0<-?A<+!@E8>WUG
M#H$$(GL)B@-S%X<7D08$`Q4%8`<$!J*:`P4)8*6,=J^P(P9]8`X5>A6E<@05
M":D%;Q>\`PL5H+B3!L;'H`-HGI,7;P<5"Z!6IXL#O`>@"WYHQ'BQY'0'!596
MB`T5CQ=ITG)P%6#QZWCN!`0%B`C0E'T*B&CP9@Z[$?Q`C5"$I5ZYAV(:\$IG
M18Z(<07GD;!X\0)'?1S?Z`,X4M:<8"+T_Z&\<*!*+H@PG40B865$`XX8Y;U3
M(\W80'R9]/DB&>W-@BUG+-I":`V.B`-0T;2)217)K:?*6,W*E#-8@4+LK#0X
M)_#C)WK4RAB`.HO='%U<S8`BZ/3"5Y85IE;=.\16NPH")@K""3#8.2N3)A;R
M&#0QMK4N%?5LYZ"8'P?*?*X\D-D,W\]$!CD$3;JTZ=.H4ZM>S;JUZ]<H*(R0
M?8%V[=FX;XNP39MW;MV^=PL?KAOX[]['<P<W3CSX<N3-E2<O_CSZ\.K723B?
M7KP[[._@41BP+:3E6C%?1-2M(8#-%LRS9B&@DB[3`:3A960B0F"HF)`W;!-/
M3YA@PLX":C23TO]^^;TPR2%ON-+))*28`L8A_K07R!P5G@)0'WJ4P5(IIV!H
M@(8<C>!(/XYDXL]0")0R1R>^A,+*0)*H@<"$*2VBEP%@!+.27=%0,LY-#<:`
M!R@"I))&-:"TLDT:45Z#"Q6^%,/3&WTH@XE'OG!3I3ISJ7A+E!Z=:4PQF!@3
MR@!C0:D8&'A0\PD?:;:)0#C%V)33@"/04T)>%XT&&W0K+#D.!;<(1`%!X]B%
MBVP$("7'HOS<-I(<LK%#6T(54"J`;)R*D.D%$N`S@0@/H-.`;`B@PQ,$<SS:
M#E<4Q$I;!1(\0H$^#*$ZP@-("4F1,M25*@`"VUG'''7.-@LM==AA-\/_DG7E
M4N1**CE5TJ44%;EI)MQ^XFTT*:8(%$`4_45"*>D05A)C9K6$V`@E";E>I($V
MEN0+H:Y4#7Y5,(72MPH-]&XRF2QE:E,IH;N??P>%5`5/4$4:SD6$'14H9HU!
M=8!4$0,$J`@)(/(3OD7^F^C)]/@$KUST'"QQ-9KX5+*Z---5,F,CH#'67<H8
M8LQ74"7`RT()L(0.86XELJXP^PA$31NIF#PD*&W8B1"#+J>`;:"3"8*9%2>=
MJ]X`9[_$,M`BM)WVSRD*@XT:IMQ[6"C4C,"9%0(`=A5&%6%1;V=^_SEDV6Y?
MQ%-XR[E`WD-U,P%,"Y@\+HU`WTVN@^=T5+X$_Q4TK-(:Z#*@;D*UTUF+J+2L
M6^=ZM+1G)SMWKTM7>^S3/CNMZC\`'_;P2K1K_/'()Z_\\LPW[_SST$<O_?34
M5V\]129<K_WVW'?O_??@AX\]\>0?6O[Y-`B_@@7LMQ_`^_"+H$`W`S`0P0!J
MR*;`<U`I$`%4L1L`[V#7N@+NSH"]RYWM$GA`$0#@@1`$P`7^APD&*&``$-!=
M;6C#@`PJH#@,T)S\9M`^]\'O?2)HDKF:E(`/2D,!,)2?!6&H``$(`(;=N``-
MNZ&&'"Z@:1>PH,@.$$(%,$"'8$/?"B((P0NH\`TL=&$.!^!""P81`0)80!5A
M6($/,N"(^&O/'"[H@O\2LN^$*'3B'@+W%*38\(?J"8PO!F!#3*3LC0D(TP7N
MN(!)(&`!P"B0`!A0``+X8T]*=`$3'ZC&!+"1)6Z,D<?VU#0%Z*-)?]B'`A)`
MQ$+*H0`"X(<`0-0",UH`C0%(X9<X9\D4;L&-F&@2'67YRE<R0&E.5.,<;"C+
M`GUI62E+9`L6*4%9VD5^T:A4*)O&@$<ZL0"6W$(L>P1*1P+F&\'T3@E,B4I5
MSN&6`N"D*W.I2UK*\BL>X^46T/FE6Q;@EG-L20+<J3)AIH"8N@RB(\6Y1QNJ
MX@^!Z.&RO@'/^^@PCX!QY%<0D(!3K<^,W=2./6."SW*H#G4$7.``-;A1C2+_
M,*._^ZA(/7J[DC*P.^2)W$17>AKUL?2E,(VI#U*:`I?*]*8ML&D)/"<MG)I/
MHE+@Z4B?U5&B#E6!(35I49$*4J9RE*,Z#4-4?6K/J5(U28A*W54GJE.5[L"J
M6Y6I5\/:TM@``:Q@)2OZT(J[VAF5I$F-ZU+=ZM23OO6N3:5K6M7*5VUR)P8*
M0&>EYNG()/:U0:!<5B@MR4E,J(\"F<`DDP@@PL-V;@0?!.6(:!D#9YB*B@;E
MC?A&2]K2FK:T)OAA)`LP`8:ZD`5[HL!]NB$;_`0*#QBU[%[X)8V>C&B<MDU!
MAHIAP\!B<E"\]:M<CTK7!IYTKG"M*UZ;^US<Y9:W_Y42)32%<4'_\*`FNDU-
M<HLWWO!^IKPVF"IXS5L5SRV*!5:=G16RRMZJH/<(ZP7J;^I;!]G<5[G?_>_J
MGAI=`D^WP':MZ^RJZ]R\PG4WP!LO\/:*@OSRER\")H*%+QR%OAU%E*$D3D<H
M/.#]5AB]).8P#?Y)*058X[6#DEP.EF/A%.^@;[,,3(C#BA0MIB)K)\CP$&KR
M6"7\4P0(DN81M^K&*U(@N+?A+4TU+.2=4G>N6Z"`BRD`C,LA^,`+ABZ8V\I@
MW319&(&I,!0V+`:D4!:)6E3QB'F`U"!7>0EG!F7+KJK3.]LX>U(VL9RC0!X!
M_]G$;#[!H0<-`]7Q:ZQ`(/]R'4QIQD'?.=*7UB\0*%U"/J,2C5;.=/K$EFFA
M(GAVG&Y?@AO,W%67&;I>_?0)@]SHK]ZVID](-?NV*FOXN1?`,X`T<G.Z!%U;
M@->]3F7V5K#H$VL:"L;V*6V2K>SA)+?9+$AT%*)]56K3N@B.]C,2N+U2U'E[
MV3+^'$U$3>8Q-X?<TE4PF<4L;U:OX-PQ!G;J;NG$XH*RGA>1L*"/0.Z73@[?
M-"G!8+/+6/JYH(8"`>4VU`#E^8IXV[I&=J^AQ=N3U*E2TX3!%LRP-'*N.]A%
M*+A8+X!PLIE`LTZ,%39AO`)I]H3B$CVM]8RM\Y[WG-K(*\%LMT"*VMC0Y"S8
M@C+_C0OP=[";!?_\X`)">/0R9KS;R?YVH/RY6.[NP;#P58&V7_"<+.^AF:$E
M<+0='.96N_O5!K[X"%H^9UO#0-LDMOD[K$GS%*C\IG1_!Z[3ZP+P"OO9)]@"
M%K>+](>F>N6S\39T`DV$0@L9VRSXNTP#GV',W_H'FC]!Z,DG/,['8*^H&[L-
M1K_-JU.5\YX'V*4GESMN,Q7>5W9[O>'^9?HBWO1F1?G`ASUX$KK>\9SV=-;1
M/?R9?O[P+V`]":2_4FH'Y^D[4'T-J"\"[O^K],O/MQ.T+V+U49^8`*CT36T#
M>V8W7]$E)KX/6(_^"*H:ZQMG?A/POOKCDZ#^B[1KY7-1_R<`?%96`S:U*]CG
M';1A;+X!@.AW;&VG5*TV@<ME4C)@@/J&@&+W:#N@<NAW`6:T2&'#=-GU?B+0
M<OZU9K@5=B@H@JY74=UG2DSD,FZF>$OF?AH(;H"V:5<G@S-(@Q'T+]O`4-($
M=@6(1@`P:\LV87*G`_Q'=JWW>"1H`JE6@PU"0S:4*SD8?RD(/Q#$A.)G=\1&
M?L5GA5=8A6C(:4/8(.#$`"=X@$D8`$P4/Y,C<&3H;'06A$(XA-NA:UC(=O.F
M>_9F5UX8&W2X2/&C?TP@:1MH4VR(A7X'B&T84\0DAL+Q7I4G8N1G57U8B9-(
MA4V$53*@B*#&B/#WA#B0:$<Q3___%@,E%(*9EW&2Z!K2=XD1-88]X%*,4EZ#
M5$,I<88CT#[$=&RE](.@R!JC1P&F^&E:)X>G)P.)=C1%"$2J.'T1:(RS^'@.
M-(JL(1NX-P*X*&N<R((H<(0P!&4UE8T">'LQV(:P-H@4.(^^PX>4=@+C2([Z
MAVTVU$*%U8.(LGAOJ$C%J'[;F'SBF(RI\7=5N(-VX0R+U1\.)P,'\`V!45EF
M2)!,A)`'>8__YXVK47`RN(,@1W0@1T>UED(O=!^^X3T%R6G.PW,4P40^5Y,R
M60&+U"Y`=SPF$'++4@`S)P-Z5W$+>`'LR)'(YY$?R4C*2(MJ.'?AEW`E,$U%
MUV^-QP+_7V)<2921*%!1WL>0"OD9MF%L0`B5O>9>T($)B_=!!-!=2*@"$18J
M4XB4,D@!#JAV&?>`$>1@;Q>/;C5]D5B+)>"0-V!5^06.R/B4,,B-'6E*70F2
M>'$.QT45@1F69JF/NNB"'"A_PZAKS*B8]NB8Q\B8)5"+H<0`"%"5E#F"BAD<
M^&8;_X5Z8;=AE!B(:XB4*C!ZE3AU-]103?<0K"F8*."0L:>'@/F)"CF6_A>*
MN+F43'DBX*6.Y4",`>@"A)D$M(F<3)F;RXD"]`>2-_2*,-&`%E"0U_B%^9>9
MPIB2>JB<U"F<WMF=HB>?";F=,0$Z+ZF-]Q:5+K>>=Y!<L0B:_\SID>[(F*]C
MF[QW@0=V5_<4@)UVB"RW?(7V@NQY@+`)H._Y0.P#B?0YETK9H!!$FK"0G_?'
M`M=I%1C*/B%:HHUID$DIFBJPD<U9!R3*HBI`F,79@QX*HX*&F"(ZH#P*HAKZ
MH46`1?/4CZEHE`Z*D*##?OS9$16:I"B8G3\*I"[*G56*C_87I$006=+0A290
MHU>:`G3'*)H9/%3*I(?XE1U:FEOZH$G0EN3D.5[9II?IC*A(7A+E?8O):1FU
M=@2VI+LFB(5(`$>$FH\IB7\'.N<VH1L8!&E*I%@ZH_.9I:(GJ$GP%4VBCF7I
M?=>98K2W7XX8FF,*?VQJJ6BXI&$@B_^ZP7I.FIY2.7XIBINJ<ZJ46JG%"`-]
M@S)O&0-EV9G<"'ZPVI]G&F"W>8^Y!:RWNJ.E&I\J*J`I<&1]U*O,^JS0VJ>2
M.IQ/*G@#1V%.&*E<:J5P^J+-6JD9"IDJL`4,8`W4>IP!>JVD.JXWFG5WZ'QW
M-ZO9ZJQJFD#A^!R45G\G-2K5A!1_>J[)"#J+.H>8&:O[AZ_AJJ_Y>JP/:Z[!
M^:LC@!]?$GT`*(%PB:T3.YC;6EZ8EU46YZX1NU.V>K+5:K`6"P,0F'X"V*+R
M*H<JR*U2F&[9YK`NZE4I^[$K*X`ORX[.&;3E2AZVMY_#"J4$*`3@6JX2Z[0F
MZ[-1>Z5!6[7_&[NL4SNSVKIQ]=H$_B5E=SF:6*NL*INU-CJT5GNU=AJO9[NU
M"TNL,Z9H3*>C9ANS@Q>.SQ*V<:6WS5*>:?M`R&%L^EFKR\E3)!E*7Z>:-O!F
M1-D=?-JS4%NW^CFI9<NV;4NQ4HN>;[N")*!X>'"1.7!FZU:3I%NZICM:PW&$
M8>)07?4N.(=<IQN[LCN[T5,".%A..#"W[J>*R?JH_#5ET!@#)^@,+;%GPA>\
MP5-N<5M?H7I9Q;J'-VNO6G6\N^N"]%:(A&J(P==>B+>9T<AH<KBTX[F\X(NS
M926EMLM+9T"P9TA(IQE80/F"DIE%=E%U+W`4H<03'O,"\^L97G:___XT,N$$
MI@#FON_4$@ZEJ^FP9`Q0E#RH!Y2P)_LK.9S#95[Z`NV10@>06;J*%`:UKM)Y
MCCS1'B#7P6UTP2[`.79Q`!!@4#*01U*C'@YL!+8ENMVKDCCL6=M[L2HR!S]4
M62F0L4YD4"&<>#TL#6\Y.4+L9A_4I":`'VZDPG?'%6HT>QKDO=`(P9C@&45\
M`@(!0TV#2&37'D1T0P+T)74%`>H:`4`)2IJ('63<3!\DQ+[G-^H:6,)`P"OP
MQ9L40UV,`GET2WB0#IXA!'4,`Y5B!4OVQR703.B0,B=2R/IV'X&3!G'X`D;:
M.(QLQY6<(.V:!^&4"YKZR;+AR+U0O\:[!O\4P1,SC`3Z`Z&JV'<=:P)0D;LX
M4,O12P(NQ%8TMU>_J01.C+Y8#'GFQ8N\^U/0"QXY:G`[W%\4:KXH,%CN&R,[
M-L$H`+]]M%BON*LJ`$K0!$JM$ABR,<'+02RN&!C$`DT4P`#CP1W>G,[&10#X
M"V.>8Z3N:TB+Y4B2C`+>O)9ZAK^R5P$-+-#%\"1<></ZE58>1W$XR``3$,*R
M$5F*=QZOY"BQX<=O=A7J:LTGP!5^<'2D0,DKX,=$]P@V),_*%=$7\=$FZ4BO
M!3H1\$$@;=*!L<\IP&]6L`"*T$4N\<E/`'-'-TV,#)&^Y42\N095YQ/M\4HM
M\`F[Y$9+C=1(H=3DJ;FN3?U+4ST'4IP"(OT.NX0`$*#'*5#0;?*YE=S*T"QW
MLC%;C.NY;GR-"/``N>0/!_!DT`DVDP.'PJ`&&@U(SI0"AHJH,\UW*Z#7)?W1
M*`S87\32+&$`,LT"AMW8<CV9+@!'9;#3FW0+W!Q4-.%ORW+)P34YP\5PXMG%
M"@`8X?F3:8;#T2IQ>K:6K'W-J.W/@;%X0$P"H_S:VDR_J7C:-D3;^+S5*7#:
M:*/(!3W0F^P:R^RUHS:`%7K()I96"F2!?"E=_GF>]XG00+7<Z@8:PC-5P>R[
1T-B[L^P$W`W+:G7>*1`"`#L_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>18
<FILENAME>u49809u4980917.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 u49809u4980917.gif
M1TE&.#EA_0"T`,0``)^>G[FYN)>7E]35U<K*RK&RLK^^OJ6DI9"0D*RLK(B(
MB+"QL:NLJ\G)R=34U&1EF8"`@=_?WOEE$.#@X0``````````````````````
M`````````````````````````"'Y!```````+`````#]`+0```7_X"2.9&F>
M:*JN;.N^<"S/=&W?>*[O?.__P*!P2"P:C\BD<LEL.I_0J).@@%@#(X`(H)5!
MNB9#000Q0;!=KG3-+@X@A\&D<"9OP2]J^:1>[=N`@3X'`B0%"A,"$(4`58L3
M!E80`PF*A20"!9DC"))6!A-E"`0B"@H&EA,)"9"2`V]7@K*S*'4D99&@`!`$
M;Y%8"0J[`Z2WD(@3!PK$$`@(<F4"!ZUGN1-J=<$`A0G3M-^TMB-[>WUGGE]X
M(@GIO*%8=W8$T>Q8Y0`!Z/EP<N#^@=L,D8OW[DR`@WUN">`B[)T(`N;(1'IC
M[TZ^@P<G$#A@Y9]'-F_BS+%UCTR^,>P2_XJ(-.)-LF5O(JIJYK`D!)1P6+'\
MR!.*GEADRI@+$.F3R@D(O)5BI6@1'59[WHRITU%-40@&KK+JR;6KUZ]@PXH=
M2[:LV;-HTZHE$6%$VPEOX;J=*U=$W+=WZ=;-:[>OW[I[]>(53)=OX+]\#0]&
M7)@P8,6,_4*6['@RX!SYUFK^%K=%9Q&9-XOV"NL,'4\32ALH#6^T:T`!N]U,
MUE'!M$BQE;[>'65?G`$%=G749T4D[^,^%K/8*`D!E^$8`Q#C^`>Y]1F?81S0
M:>55IS(*"D7:'H&E\LGH'1]^')F]^_7I(UL^W[@]?<KV\[]/K->&5DE-I29)
M`EI=9^"!"":HX/^"LV3'X(,N6`;AA(`XJ!Y_\EVHWWP;:KB??O#5]^&(')+H
M87QL4:BB6!:NB&"++Z`CXXPTUFCCC3CFJ...//;HXX]`!BDD:BX6:<-]1B8)
M`XPO,-D9AB9FV*&44;I7(HI8BI@E?E5"*:&28,Y23'\$]$*,"ZN%&1:3-4C7
M`"@:]8)%`/AD)!TQH`10C`%ENC,`%J00P.>?H(VIYFCX+*3+(04<P`5"`!2`
M0``+*9"`%HT*0,`SB02G12.;!K>=.H=R]M=E*]29T:?7/$KGI]$)@,`U$R!$
M!@"7MDHK``/(6JJI.+2E*AJ[NHJK``)@M,BL!C@S0!?(2LJ%%L@FH,G_K+]"
M89@1;"+IK9;@4NEE9>1.:>6)Y789[KFG)L%FMO#&:^"[\L+;(KVHHH!OO6;M
MN\*V_(+UF;]#9+=EB.*N.RZ7!W_+L,(0CXCPQ$P0G&_`&&?,DW+8:?P:O@#S
M8+''UX5,,K`FC.Q9?_^>T'#$5Z;[LL0.QYSPS1.;[(_*)_,$$0`(7`H``0OI
MUC-9][*\`E$`;"<&K4<GV"*F`_P"]2W51?T5SRN-`<]LI`XI]MADEVWVV6C+
MZ'*J(@0G0*]-I]C1VG1SU:L`JW"Q*3Y:PS!WRW4[G#.(-=-%()\`1!!ITW(L
MS.[C,]L,N7HE6,@Q#W]OAFNC7$S:"ZE]IY"Y_V8BJ9'1U:'#./I:ST;JJ*8+
MM29U"MUV[-??4(:>X.KZ5JZ[$^]R?0+O,?!WZ3-OM!4<NCA#*<'ST$<?_>0/
M-T^XN0>W&^P-O#N7`)UO<[&5"P`,ZFL!N<;@O=L_C]^"]/!#'Z;P*JP^@',;
M`6<`JS%2*@<8H%/!_8;6!4>AC@7QB]^"'$2_%+%L=03`0B9DM;<`HD`+J\I"
M#"*8B`.@#VA'64$"X8><!FJ/!A'HR%W*I*L4$NL%;MN"!F'`PJ%EI0X6/,$(
MI?>[^F5-!`NQUC:(%C>E!2&(E>!5T6"PP^G-JVX./"$.B'>6)LJOA[7X(0JO
MIR[KL<>*SXO8X&B&/?^9K8L$0OM9)H8HQ1H@B8IF`:,$#-2T!!#@>Q!)C=%8
M0#\XIHR)8$2"'(\3EP)4;1&42L,2_'BQ1HY@D$>`I'4"T!:P:6$`1OO2%+-V
MN1E(4@6?3$$H>>,V3#:-?8O\X2AU&$@$ME*$KV20"2,4%!.$\CQR_!8D)S-(
MR3DN+^L;HG,8P,7R*`!\<)L&P&8)A-6MTI:Q%&4T4?#,$QC@F-O8']!@,,`\
M8A)_,6A='`J0D3W2KDFT7)GV5$B"7+K2BN^;)BOAV0)QZJ]6<'(!!Q=BDD3$
M@%>1DA4J0K/%XOG`F?*$)CUAN5!0)M0$`+T6*7)X@AI>4@$3A4&SA+,%05G_
M,#L/"*E(1SK2/PH!H0V59DJI^=!VMG0$&YU;^<80@R"R+X@S6)P`-DI3%Y#T
MIR(]PEM0VL1XKG2>17UG4LG'/HJ"`ZA`58(5/B/)@3TRD%YRY\.J6DPS>M&7
M1BP!5'_:QK!Z094O%4$U77I4A2XU+083P5A)JH-@"J`!1?L,47=HU+>JU*\L
M;:MHYEK2WKF@FQ<=0]C0NM+LK/6J@F4K8%U#V*!&D882[`(.S3`C.>;(LS@"
M[8U$FS89D;:TGJAL2&>D`@=9-#4*4"QGW<I7I=:6H9.E[0@%F=8=1$"U#U"G
M"FPZQ"668*^[M6UR<7M;AT86LKDMP6/5"D8V`=>1_P6-(G(3V#*NXF>7(NJE
MEK0:(N_R9;H3N*YA#\K8Z$JVN7^%;V#="UWY(M6^NN7NJ3JC7K/:[K@0>))X
M+SL!]!JXMP=^+G45G%[52K6]^)4N@B?,X`33=\$7;G!EA2N\[2I0N?IE[G*=
MFV$+1_B](]97?XM020B/V$(F3O%\3UQ?&=_7QOG]\`J`R\S+Z-7%(:;;@.%#
M7OJ8ER[@?<^`%9-D%*S8=S]@9XV#'%\<2[C"%"YQEO'+7P<3.,J<C#&59VQE
M%(_YQF?.,0E!K&,5/+D('E[SE\7<YBJG^<I:QC*#W]S:8,69ATRBLYQ)3&,,
M%[K`6TZQ@W@,N/]B3<T\9/_SH.U<9S+?V<R51G.F(>W$<_)Y>Z(#\J;]HE7(
M-/F\6%5/D07CW2^FVLU>YA*8_R+H2(OXTE,>-:8G;6E=YYK7)_AT<L8A:F!S
M^HJW]K6AR_QK6Q.:V<O&M5QC?80_3^])QPZCI)U-:6/C^="U[C2!KPLC9EH;
MV<^6-J+UG.=V@[NWPC;I)I&<:'6'&]W=YG:OO;UK6[<HWF[T8;;GN-Y[:SO9
M_&ZVN/.]\'WK.]C4]J^CSWWP=,=O/JW.RZGI#4_TK!HQS^SRAI,PU6^/4&<&
M)SC"'S[POKY;P;_U<H_U17&56SSAT5;VNMT-[9V_/,,`?X\-:N[RGJ>\Z/:N
MM\[_@WZDX56G+8^%NM)Q[G.C3YWE)@^RA3ZM,B81'<K];KBFJ7[T;8N=UO".
M.)R+C?6PRR^KU077D4G=2B0MV>%G%SEAO_R"A>!-;\:-"]$#??6S9UWG95_Y
MM5O+].5,M(Y/6VS+S8YOO%=^[&U7^.4GK_C-BU7M)F72LPQI-<G3G=T_3[W5
M4;]ZORX:]#,PP#2^MH`#AJ*S8/QL[D.[^]'VWD:GI5'P<6_%'`%W1OZ:!Q=*
M:=Q''Y[LA?>\VRO.<.EKGOKM0B^CL0OJVP^<31D_?5*=]VHBQWVKKV1@U2_]
MEL8OR0]L-_ST;5Y][&->_M>GO^7MSWE8CQR=W!-_UI=S_]#'>DEG@(A7=TH#
M<#SC(+A#@,[&9-''?\^7>1"(?Q<X@.NW=&HW<\XW?TB7@`A8@#QW@$`'>R<E
M@!0(@I2W@OD7@B3(92RX8RC8`X*G@A(`?A.H?_>G@8EG.=44%PPH<3&"@S`(
M:.-U?N65?I&19(:1>/ZW=V7E:(_6&5!8?SS8?UAXA!BX@6L&(^ZW`U\G15>X
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MN(QS95``"&"H6#D)68\+.9'ZIXGC.'))@SEO2(;1.(C3^)+IV&=AJ`,/*)+4
M>),P>9`W27@GV9!MV(QZ49`NR4OEEQ@?%QCAMX]U&%<C,),PT'S$]I$0F9,&
M694N63?_E(B2/1!YLS6/EL..5IF*(UF"=68P6>F34$0O!Z$XG(5:;OF6<!F7
M<BD).<"5?29O<'B7IF@DZO<$S;>75,@;*0F4B4B8FE%N,,,\U+.8@F..'\%,
M(Q.9V0*8?/B3>8F7'9DZ(L(RE"D%?0E%A4DRG=E]8(=%F%D$5]$/'-$&T](%
MRR,#K3D'0`,G^"(T;U,);P.;T\()LN,"MBD'KXE.OQD<")!/+_";S;)33A(!
MS-F<*<0`$>`,$=``4^6<S7F7/T!.H%$`']2,VEDKW^E4@/$L(O`LI$`@,?"=
M`8`2!]";+$">J1$IZ;->)`"?SP(/H-,B]CDT&F%.E6.=S!E@_Q&0#Q&@``L@
MH`!*.:29!7&A2)8I0S-T`(;2`FNY!0-:G+]T#0UJ`-_3&@YS.FQY-9U4`J<#
M-1(:`R6J!43C/OH"H,_)``HP*9)@`"X*:ONBG0>Q%8D3`PLP)P'`"@=@G*59
MGUK`)\D"H3#DHTGD'.%4I$2#I-@9GY!`-!$0I!Q&GD9*2;9WFM3P"+7R0\S9
M!([R"5`ZI"0PIEB!+'R#3L0)!Z@4`V@*)R4*0T`#!V7J`FU*"+$C`WE*1#VU
M'R[JG`L0J&%:F5PZ`0V@`XEZJ"HPH37@J#0`J4#IJ/[2%I+:HH2:J<[9$\'3
M:+_B)'!1J==9,5CTE3;8%LQYH!#``/\,8`4.T`D(H*H[.JI"MZ"R69Q%@TK7
MI#..\@RYRD;79*:WB@JG!*S(,!G$2:P>9*P2LP"S633.JBG>HS/)^JO2BBLM
M4*W%>JTLRA;.F2RJV@`(4`4IU`PT2JN7F9=J20:*I04.$`<A=`(^VJYZU#H4
M6DGTBDGVR@)?DZ_P*I[]JBO?Q)_K%;!J,+"D\)D&>TD'`$XI8YWE>1-",1R2
MD#B;R@3MB09I`%!]MRH;"Y\MD+&ZTBH@RP(BVP=<4+(K<+*:)4$OP++]=`DA
MZ[&5Y+)15*@1X`!8D4+B2JZ?<*`0^P.?&:0&4'L'&Z.[`*F=\2Q5DZ](ZP[K
M1;1.ZQQ0N[*M63&U21NR5RNP&+6E*2.U7)M16ENT84LK#.2<W[&JK@JKJCJH
MJ#J:):"FB;2LFG*GOI,.1$2WQ2"><FNM>]L"?;NM?\L"@:NW.$6XL0.MQ86M
M9EJX-\6X+A.T?'2QFP&W2B"9MOJ?UZFIFTJY0+`OY@BJ#PJ'&5H]8W2ZZ3JZ
M?(BJH<JYK5NH^Y5.EGL#LRNTGFJ8.N,9K,NY82JY3U"[E@@FP,MBI,HOPSL"
$(0``.S\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>19
<FILENAME>u49809u4980918.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 u49809u4980918.gif
M1TE&.#EA`0&V`,0``/EE$)^>G[FYN*6DI=35U9>7E[&RLHB(B,K*RJRLK)"0
MD+^^OM#0T,3%Q61EF=34U,G)R;"QL:NLJ\_/SFN)>*FIJ965E3Z7:6:*=3&:
M9-_?WH"`@>#@X0```````````"'Y!```````+``````!`;8```7_(">.9&F>
M:*JN;.N^<"S/=&W?>*[O?.__P*!P2"P:C\BD<LEL.I_0J#0VV%@'I(2H$:@)
ML"B"0608E\H<AD`4:$S?\&!@PTAONJ*-2'"H60DH?"(,=26$'`-@#8!QC8XV
M#!N,'`1T'`8;6'P&!P5N#`4'`P1J!0J%(PT%!EHB!`.=JAMC`@($K1RU`@P'
M!VL&=:^==:H'`9./R<D)!24%6IB:&P4"!9*9U;X;"68DU)4C!PI?&P>SB%B6
M''<#O+X<[PKC"=<)`@K-ROJ.B27]ZWOTY#&0;YT`@27`<1AG9X0!0>@X!.AR
ML-\_7Y%&K-K&@`"R?2"C_!L1`(Q`B.NJ_UBQ@I($IE[3<O49`;%?`SW/+(+Q
M=7`EMI5K0@J%<K/$!C<`98[8AB=-RZ4/:TDJNJ>FR8.OL%P40#6-UP95AHIU
MTDGCS'6`4-+9L.;@4PY=)6K99N>@B'_T%$0<@.<=W4AN<R$<2_@(`7.()RF@
MHU8PR[?/2!1M8&Y6)3W_(HWI=[#9.\I7+JU$6KBT$36H3*M>S;JUZ]>P8\N>
M3;NV[=NX<V@8L5M$[]X<-``?[INW\>+(B2,/OEPY\^?0E3N7?CQZ\^J_L6NW
M?IT[]^G'P2??_ASX<A9HC!#HTB;&,1,!WKWA*N)LC8<2W?3:WT5E)IK=M,;`
M!$<,L(9\+WQ1@O];'T$A7U`U$*`7/&NPI0L7ED32E`(-FE;+)<6`<<\!6H`B
M2EI?'&!``_*X(4P!J2GTSHN%C*A%`N)4.`DHF91R2BX*J$A&-@WP40`R--[%
MAP(NP@+C);"L4<PXT]0!AHFCY)+BD4"22,(`9OA%0B235%*(`6"TUH\Y4CTT
M2T78!(G(FQO,HX<\`M`SB0%]'3A.%:18.`M;F#`00#<\&K@-+71BT0LYXQ10
M$#Q_2K*.+WKBJ><TNU1BCTI/ZE&)@7)684^5@G9C*85)B<",,ZTH](AY+:QI
M1B*K;!%3'@P,D(]\:VG4#37U[8+0*C?9P@`]:]11#0F"V"5"K@T)B9;_4H,<
M.\91TU:@[:H$!!4)L)<41(>O>QR0+"DC9%3L.CZ-=%>:ZBA#:PIKKJ%!(K[T
M]H\&OB2R6[\&^?3?P`(@+,AN`JL4J15'0K0;'QHLS&H>%.ZF1\4'](92/QOX
M:X'!8?D&RTK`[HL%POUP/&>=2$DLILDK^U82<P2/U]UWY&6W\[TPY#LO0ZXV
M==16>725FGR^=!69LXMY=)`]]D5[%M$9D8LM7,?.Q<A$"-6!$"9!E5,V!PD8
M#9:(?4`](4HSZVH4:0BN)C0ZA;Z\!CT17:S'7VR1%&:%6AS$0-Z^'BEA&4TI
MA5*A!$CJ=[HDT&7X.LT8#KBT:.L5N=D8`X8V_V9L(YZ/K''75U`HE7=8V-T6
M67%`N+*[@31`H/U'TZ]25A;4'.4<9D47Q-+41TN@`J)U2[F7#7SOH2$D_!W4
M;QM0.;:S+9'LDZB3.B6(!=_N8+GML*H,LA9!/A-HMH":/P$ZXMP+0._`"@W<
M(+$^$[//<)C\0O!9<,0#GC%09V<1^%EX>O8S,`B0@`STCG(:@!3QE`<N#8"@
M`B6XP/-XL`;U*Y\(8Q/"$9HP#@9+H0I7R,(6NO"%,(RA#&=(PQK:\(8XS&$*
M85#"$_HP@.3YH1!A`X`B&M$!2$QB<#RR@%J$:P$C\$@*$,`!!%@Q04,D0@:V
MR,4JADL`"T"`+5RP`/]`4)$$5T3.&6=@Q",F$8E5H<9!6!&`W5@1`D%Y@!7+
MN(:)K`$"4$1`&<7HBKTI8#=A?(!''E#&<%%"``_H(`<GR;,-6O"!V[GD!LO#
MQ2X&X`M\^*0"("""![2%E!Q8`"D7P*<$(`"1"#C,&@AI"XI(S74G:&,1WPA'
M+2E@#F;(1YLT$0`%$(0]$T%``<!DS%"@P9@!2``66"''6AP#FG_*X@PZN46)
MW&,.KL##H0:0MDL80"\(2,0GH52`!2B`BBHR4`%*<LYLND"7`."E`ZK2A06T
M0I@"8(^6D"D1/_:1/><<`WL^-)%/ZJ*/$G%GFK3Y`FYFP)MKR$<Z[S(14Z3_
M$IQL*$`Z*1)0,F"SF!.1Z`OPJ4]^AC0R`Y5(3"=2T&LJ8`'LP<<8)&6/-;BS
MG7C*Z#,:2M$86!2CJ?PEAT3PRP!XE"#]6P\K#.!.#N$!'Q/Y)3,:BH<><H"E
MO"SJ:XY*!$P"P:MB3:L.0E@_X60R@A>T9`0U24FS5G*2=(TK7N?*UTWJ5:V`
MM0U:`TO8PAH6"8,=[&$7VP+S*+8$][(@8W'S6"94=K*JN2QB):G!O<KULW7=
MI%T/Z-G2=I:NDEV"9C%KPM6:P+6LI>P*'%N=V-KV#<.![6UGI82V[E:(NEU!
MY#[)%Y'.,WXD\&UH=6;:MX+VM,YM[G.C"]WNS$\%_^Y$A%,Y,$]2V6*B9#3`
M*[K`"4`T+@7!_6TC$+!=\K)2`S0M"2ZGJ%.*".2\ZIT-T`2J"XD@X$\%2"`,
MQ$G>_N$77CI,L((7S.`&.YB&\)$I517*!FLV=@3*'*=3,VP&\^POOV,!SF!V
MTY_M=C<7XE4`>%E`V]HN);T@GL*'H?!A&,<X"3-^`OF`EM?1<I:Z0+9N7Z5+
M9-)6]Z[U"]D)KFN$'-]X*$YN0I2?#)(I@]#%KTVNE:G<"!%#EL4X$*`)-L;E
MTFP9QU].;IF5H60PZX]^0SZRD>,<9"37><Y"GJY?H5,Y%930QB<X\Q'^^\FL
M_A2*:UZ*(P1M!#YEZ194W/_HFGN#$$"?Y[$U=H(`8BG0*L)4O244-(PM6.DI
M_$ZFITXTQAH194NW(,/]Y3"5[]7F-'\0?3PMKJS''`/4TCG/1?XQL.5\9V';
M>6<L&$Q`N4J\9F0)?PL(8X'-&VA5$Z;4:!ON05\A@]]$$TWV94.UK2T6\B'@
M1HA()U]>Q6<79(FFY97IF!],[WK;^][X-I@_TJ*E*J;M0_Z;"+B->ZAQSY;<
MEC6XN/<UD=TX>ZE!$+&K><!-A+<*#HR^-0^*:-$,%/&V@ZWU$;PJZBPO5Y,`
MZ/@6`<!<8K>\V,.&N5Y3^X*,J\\1*N\BJ%4P8A<D%LM`WU^+D]!)(W:RS%Z^
M\)O_V_T$;K;QZ)-EJ\)MC5B--:+H3X<ZES5@\QN0/`Y8UZ76N=SU'0!MR[1R
M^<Q%$/:L=Q//QXX[W-7NXY?;8,=N'L*,)\Z"MHM=YX6-;+*'P&3T"D3,2_"[
MVR]:9I$O>0F,YCL'G(Y/HP-^M\K)]&;[G/<A*/[OW5PLIFD0W%"_X?.+!SG/
M>7B$LO?@Z)5OX^0O3U'=8IL'M$J;KH\[]6X;>\ZPC_W'.SGWWQO?[G(__E]S
M,!A"?\&I&I#<LVG@3W@;6.&%]WP7A3]\VJ<U^PIW]'HN@=-CK!@&#R"HM!KG
MUGS+L)-6X#X`K`!_]]O__B^$%J=)JDYVSV"K=W`)U\=K_U$`=?+'=MZG7LK&
M!N[E;PYU`R6Q8;Q'@%!@@-R'@*&G33^7`LTW3\^7#P_'"+#U=3X7!%IW@!C(
M>#%V>U%0=F;E:U"G`2@X>UM4=VL7<S@8;,B7?:[5:E<&=$QW<6IV!"=X@2EX
M6(JE>;VE,>`G!&,W@S2H@JH7'*X7!%6(`T]HA$<X1)659`FW>@<WA#N0A<)'
M`F,G5I?%@H^G<7X6`U=H`V<(A33(6"2(0B@@>240AUJXA>4C=7[0AC:P@9Q'
M>F)X6EJW&RC8&\0G<S;8B,I7=ZY&*T(7<2Z@AD;@?7)XAB-D8XXG!3X(A#2@
MB7(8A825A$U@>DT@BGO(AX:%BO]!.(1XJ&AKJ'3;A(FK2(I]&(8R\(:Z,8A*
MH(E?=8MSR(6$N&IWZ'48EFL26'`4V&NSZ&-'1QR)R!N'*%K6>'*_1DFS>(S;
M:(R>-E0T)7WSM0*_,VWR9A2@F(XR`(RCB(N_56L)(Q$>6%#<=@,"P">"$1P'
MAG\&4W\I)'\JY(_\.)#Y9@+WJ`4#H&[1E`^:A0;FN(],`(S!6(8G()&313YH
MT!:S]&\0$@,18`S2M(P=YHOJF`,2V8[N*%N`"`.#P0G1Q!=UQ%V(`'&T.`.N
MIUD6B9(6V8JK%HN[Z'OHM4&+V!PS2!S1R(C7V&/7^(K=2'58MCYX&')`Z&HY
M*8RL^!K_/BF$,O:+"3@"*)F2)]1#KNAF-G9=D\AZ%=65(O"5PU@;3;@;?')3
MJ60?S7A6-HF6;+@".\F6.VE"O[,>!R:+W`AY1*>6:VF55ZE-"7D,^)5T8O@#
M4MD#)=27?&F80M&$H#@`T?9+&_!**&")IWAX05F,SS&4W'&`X'&4.5A\._B(
M/B`IGT1B8`B4*WF7)N<#?3F1L:>7EDE85J9;/.9B9X:9*)";;`F66#F5):EE
MBQ9F>9F8)G"<R+E8>^<$O-AWO:F;E8>=&5@:@$9[DI@$D5F;<):'V2F=N0E`
M37F;)F!1(22:)9@#N^8;3+B<OE=QHU64':2:-YA\K9F#0*!R_[/I:>/$(1_B
M:N_6>TQ9`^FIG?C4`@TJ&QJ0<V_T98,Q"O#E4(&)ER4@3@HZF.O8H-(9A5+8
M&MFG<OJT3\TH3@0A`>>T1CR0H/.6;P))HUQ$D#BZ$BH'82,@H_'U`_-)D@ZJ
M2_>T>!Y'A%RTG2TPHD,J>P<WB@*JB]XH:PEY#QWYG$QGBB7`I*#G<2QG!"F7
MI$2ZI(BYI65*`E`8I>NI:&@5BQX6G=P7G&AJ>6)Z!&&Z<F/*`EQZ@5YU@#D'
MHAS8G-!AI-VI`G2*IP#@B,MU01PGID:T2?*'9WM:>3EW4:ME=8]I=J-9E[I9
MJ25JII3W<6!ZIU[ZJ&1*D7JZBO.#3_^>J@-.-G%UZ)6'6JE?UG%+T*B.^J6I
MBJHKL*>>6JA.&:S7R0,^^*NTR@2S:JKK:)[&VJS.2E;VN0*1=W,\]*R?B@1&
M*JK<::W<VJW`ZHR!RF=R^H.;JI58^JNG5W$JX*WLVJW(.)K#&JPUEZEI>7FO
MD#8!0&C2%$G8J&?!8:O%T:ZMBFSC6JYK6HF"2@*O$#G/,$\/&#3K04X2DJ_U
MB`3=>@$4@`')5%P`QP(+JXQR1*]1I)FF`$75A*5N**6X=VM<9P*CD`#1=D7-
ML*%BV`410`#NE%'G6)C-B@@1JP44@5/N=@LQZUXT^R7K844C!5$UV0+QZJH1
M]FT#H`$)8%7_EY8"%)$'5-1I$7FLXB9>_D0-U'"T)"$7X!93+=`%QF0@_=:8
MX(J.9?63'>JSWH2V+T!>3C5<0$L$KQ!01\*Q5XJUN<`&8N1*9"MN[V:T8-9I
M)+6S'%H=3TN:K=(;79!^&E8`\!4#'0LM@>L#HS`*5!6TARMA>7MBH]L%@#EP
MCBNX."52;0L$@Y&O/-50$H(%#RNY`UH5)U"QW3@Q0]BY/D!>IJ!,U5!2+;"Y
M(^L"R.L*-4.OR\L!#W!^*!NNJ80?\NA0`<50\>E?(,MA^+4_G5M&*_N?_4D<
M=21.A0L!7:5`^H(<"\"O>!44YB&^RGL"]+N]@R<<=20<`A`!$K`O_Q`08,O$
M%VX57N4H@.9%57!+FTUK!'A+<+8K%H@WO?.JO\(1`1%0,163,!*@O@VG6$UQ
MC_8EF^>5HR9\PB@L0\SA2BX9DJC;;/M[MW!)8?'&M2:G7,\X'_8[CMXIKP4[
M0-$K'$(\Q$(<Q(K%PB"Y>X=R;EF9E<!%>,&1,$0\Q>];P"W`N_<R?:JE@08[
MOO3S6%9\O.3(GH]+GFGF:TF9C:RY?$YL=E/\QE/<P&1<QC<FEJ`H>.4)64/L
M9WM,QQ9G!&T<$C\<K13\QW*LJ7.\'%Q%!J/+'(L<EXAVQ0ZK!0X+`\,53:YP
M9I?\3\`;!I.L7309K)O,7305R(Y@O?=(1_\P@!\5\Q"RZ0+O(1$$0$63P@*Q
M_![;=;=?,UZ=?`+O`5^.]+PH<,NS+),R0`^[,B>(3(ES6[:K&T*-@P<)":B9
M&\5K(`%+57<QJ24PVQ00U`43DS`'NDDA'!23HESEW#D\7`((L`%E1!?M;',3
M_*XN@!^UD`"O7,\:B9"1G+9,E*\:J<LXFZ_&$#BP_,]4),S#C-#KL<XD@=`!
M#0/KUP4J$KF;FEY\806(=K2TDM'N#)L0TD.`^0?%9<E@LRJ-3`DGC2+T,]+7
MD$R#Y=+1F\LPT,XXM0T]X<Y0T(4G`*,+B@(^;<:4X-`I($4V8-01,HXB3=0G
M@,SGD(_X"\AQF\C_N1&)$=++$MIY@&K(7=;%OW59.*R>Q-D#?'%3\Q0!Q;4;
MY;2&9;T`QU72:+/-*-#69YW6<6U7\T1PJDNUX-Q!><TG(J5KOR2_*)#7'";8
MZZ0"?[UAB(W5<3#6*M`6E@)OT;;6*2#9YN5>U1>4F%U0Y+?94[2UB?O9EMW3
M6XNZ?"&`\J4"$"#:F:W:6LQG5T13XP7;ZXP)VX#,E\$-PP,':#5/##A38@G<
MGFUAATO<-&7<'DM3Q5U29`N8P5T+G+;<,9G<FS9^PL7<UCW=+$`-N/U?`_!.
M=R"76NW%;M;0HXT)\^1DZ/W:Z@U2+M;>GOW>3K8`6N'>TP#?*&#?,E7;C]9[
MM/R=WJF6`OR-VN05CZ-;"9A04Y?2V[QE%,GTUC3-?F,6X9?KS!QHX:HK;E-T
M![)[X1P.U!X.V"-%<+W<SAJNQ+T,`2/.V,OHV)2@TYVI8N(-LPN^TX$8U5[-
M&I!-R#.P&%:@VT&.V\BELJ=(U4*M=&N\Y&F<XR2TO:;LY)EEY%3>XW89!5'N
(XUQM`R$``#L_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>20
<FILENAME>u49809u4980919.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 u49809u4980919.gif
M1TE&.#EA``&V`,0``&1EF9^>G[FYN-35U9>7E\K*RK^^OJ6DI:RLK)"0D+&R
MLHB(B,G)R=34U+"QL:NLJ]_?WH"`@?EE$.#@X0``````````````````````
M`````````````````````````"'Y!```````+````````;8```7_X"2.9&F>
M:*JN;.N^<"S/=&W?>*[O?.__P*!P2"P:C\BD<LEL.I_0J%0EB)"L*VL@$%,8
MJ-B281&)+`K!P2$7?E5E[=H[%A$HYZ+X2<N%U<$F!1%K$P=Z.W@VAS^+,8DN
M?TF)5@@!9003!F41EA-;F9L#$X)E"@J;"&4BJ1&8IQ$)5FT$F",'H@1E")FY
M5@26$;NLM;$1!0/%9,$3`YM?(\"PP)B:K6W%:+V[KPD+F,UE7Y67H&6=),,3
M`GT*!^D$L0I5H1/:GL[%==7&19/WQQ$,T"KGB<N?``LF+.#R2D&A,FLTH4E@
M2,``,NJNV"EQ8,$`00:J%$!39D`5B1?7_T10@.;4`'#\%D0,(PC-0F/-QG`Y
MEX=EH00O`]:YJ&JA.BTX`PZL1@*ES&8B%I"9:(C`RRIV!AT`FC,F0I-U5M;;
M.,3?IPE_UA4KB$<6B0$*HMF)MDG$([1D1T3:TM8A6DYVW8XP<"#7G$UER!88
M=S:LWBMZ$:LZ*AAO8SMJ)XLX^R8!@F9T$P?>'#K`8F`;ZUA:L*M?&*B7S;%B
M&Z:RI@1;1`=((*#WG+L!:FT^M9%O[=2`CZ*%QJDBECJ^11W]A;N/XSR0\QSP
M_5O5\=B<9D/K\T:!3.J^-6V<DWN[[U:[(_T1V,K((&;="N81^9`/7D\)&57-
M2\78(=$$N`V%4?\)@A!BB!H>@=261R?A)--R>>R"%1;>@"+=;J-P8IT`1O&$
MX4-!8464%4:]$1L:AK3A%"%E%'!@@NMAL<6#X"00XE=8)?!%1T;LXY%^EEVB
MRB?[B`(3*];D@@:4`U03RXDBC.&,"/:T58PXY)SX2AFQ^/CD"*3`DMQ02F;'
M)3GS*,/,EI=-H]DJ8=:#!961L,=%+P2DF4`"O=0!Y3-3))I%7HJ2`-0$""34
MZ*24*L(HI84B6NFFG*Y@@'2=A@1JIZ26:NJIJ*:JZJI10#""JR+`"NL$L]8:
MZZNXWJJKK;K2VBNOO@8K+*_`$IOKL+\>*ZNRS"*;K+/.%INKM+LV&^S_K+VN
M<)80"&S7B`D7C4H0%`;X]2T+0KHHV0"%$F*`CZS>@*T/4-VE0B4E!"?%MG+X
MZ&(?>22`AB9]\!8O#0CLPDDX_0%E#UJHF:/G,M"L\09,7\`D`"L^1@!J-0A@
M,_$N],'"BE]O+E.RQR.77`YB7V!AS\I5;H)&'E_\.U@;4(%R\`R?`-812H-$
M&!!::Y!1\U9!(7KT&RUJ@4FW'B-3P`(H(R/P2C`:'5)`S?AHB"U>5Z%`2DPW
M(U(VU,#RJ!4=?1005@H9XA`!&_6L[B;\_H>6N*K.JZU!@6V[%^%(2I8<AF\<
M-\\M9,X%L'['D7889I73%ICB;636F-_&D;9:_VO**;>;;WW+=RFK@I\0=.%]
M-/`'!%M`H*-U@_A6`*P1N%J%[;'6`4$!,4Z@0#RUQ_KZ?I8_ASGOQ07P.V7N
M]6:%J[*)B)WPFM/.!7T$^([%O[#.X6HS#3!?[;/76FLL^\O"7T/MXPLUD1ER
MQTR:=E5'@A8:4./"&]P!BD?)Q#,D6%XARN:\TBTP?RJ2"8^N\[^'?"YN$KJ=
MD!8H`D&,AE^P&-CB^/$S&"SO#51ZV.VP`R@2$$!#5L#8RQ#0"X^P;#Q8ZE(#
M$Z'#,`$*#W;*A<)2!D/2'$HO`/3/"-BU"4*$J(2-\J`,!``O(=C+"/B200!(
M!\4IX$T&9R#"%>T#N/\5]*R$P'I!ZW"@J19\I`A5<L(;87",>*U1!_&#5AZI
MU3[YZ7%:[O-C'_](R$'R<8_-.J0@$?FL-&;+!G?LHB0GB4=*6O*2)>"<)C?)
MR4YZ\I.@#*4H1TG*4IKRE*@<Y1Y2R<I6NO*5L(RE+&<I&4S:\I9"B"0N=VD$
M7;K`ER109"$9&:U`#G.1@/2C,)=I3&8B\YC"2@(P>4G-'DQ3!C=#P4A&D<T5
M;+.:X'2"11CPC)&81!T[,1`:"F"@<GYJ`>MYXTB^8(!UKBZ<^"S!-:7WBR\$
MP#SM^,06VA&HE7CC`",AP`&V`J/C[>2?!+V:*?)936+&0'J^\81&MQ``[PG_
M<!V>Z`@[)2>"ZCQ4H[TY'LHHRE(8N`JCO=EH01[Z+J!TU&T,T)H!N``!&@;`
M`;GH:$T;0"@'-/.HRD0J(9T)3:92RZG6&F1+ITK51U;UJEC-*A2G>4VM>C4'
MV.IJ,$W`QZ_F4ZQ*0*M9*:G67B9SJ4I]:ESGVDBZ%C.I>&UJ5)?0UK5.M:_Z
M]*M@`ZN"L!YKL(@UE2,3>TG`TF"-CF7L)"/;@FM"]IF&3*1=WP?7O,KUF5"M
MJV?M*%EP&O8&<0E4::O:5[%R00VKC6T,9M6'R>6!EKC-K6YWRUM.DG5^S%@#
MMGI+W.(:][BDY$%JNWG;$DC@N="-;G1;(-WJ0I>Z_]:M+G:S.UT6<%>Z+OCN
M=;?[71<`X+SH36]ZFW"G"8@7NH=\[W,YZRKY2D"S[I6O'^T[3/W2-[_B_:QZ
M!XQ>PD:3$7'@KW?UN^#WDK>\#19O>!W\X.R:E\`#9F^"&;P"!7>8PRKP<(A!
M/&()5]BZ%\;P>GVPV,C42L0I@#$*9'P"&IO`QC>F<(2YFV(5G]>JOY77K=J+
M8Q(4>01'%D&2`6SB'5OXQ-IM@8]7O`0BDWC&5ZYQEG.LXQ(W^<-?]C*/I3SE
M'Q<V"%:F,+443$S^/M6^\94O,6'%X3:KV5IE-K.!3T#9OSAWRW_N<HP!;61"
M(]G0AP[SH!6-@CP#0,.!9O\TER4=:0B#F=*%%O2B+7WI,;/`T7T>ZV&OL&%-
M:]G4D^;TIE6-952G^LE.1C$+(.#H7U:RN<%:LJX1S616GQK3F?;UKSV]@EHS
M(<W`5C*O=^WJ8`O[U;*.=90_G><]AWJ5E29VL>#\UOK6.9EL;I:;W>??;O<Z
MNV6=@+&K7.IDGQO68B;VJN7=:G>_>]J=AK<*0,UB]D4FV_JN][.=3>]A%QS:
MT<YWPN.]\!2LN[(\0/;`$^UN9E><U_<&+Y0U?N:'H^#:0V[W=WUI\8DKN]D4
M-_G)59[Q[E*[S*(^,()U5?*#`[SA!@]XSG&^<XXK'-_[KO:Q15[P>=5<YP@'
MNL#_;7YSGS-<Z8?U^!"&2W1X"\[;=WY6N*$U[O71BMORD_-^=1Q)J1]!XDQ/
M>=I7KO*C\SSI+O^YTS]>:Z[:&LBX5CO2FS[WGO<=[G&?]][Y/EYI_]T$9H^Y
M#]`^>+V_G>"-9_O:6QYXP4/=[X4?M0BD#O(4:`;K%T>YY"-/^<Q;_O*`?^Z$
M[9UX(%"=\*9?.NG=CGK(/][VAX?]?<D,\Z'K?O?S>K'8O0YZ2[]OZ\[JNA[+
M3?S22P"8QO8ER!E_^]%7W_F[EWON'5][W%=>]OB^^N:%S@/3X$8`J25,)ML`
M`=IOW_K=A__[L;]ZEF.\]6HM5UQN\=H#V);Z0-<Z[O=]_ZFG>H8W?\Y7?Y.G
M;N2'=R\@0,=P%AA%:I)A7Y]D@9Z$@9VD@9S$@1WX7J`D7Z#D:)QS9BH@0/NC
M!C'%.U5W?0,8>Y@'@P68?=HG@P586:VG>"N```DE/<O%@Z3V>QLW?R]H@#5H
M@[JG@.C&>U-V;6IP=?_7@K5'9PQF9P[V9L.W?,.W9F3'/O?7@#H(`ZL31T'H
M?00HA`=XAF:(A-R'@!@'8H[D<2!W1Y]'?V%HAT=HA$\7?WB8ATIX?0S8>^R&
MAGE(@Z='A,OVAJ(G?VPX`CFH>6P@A8BXB$5HB.#'APDXA(U(*X\89(]5AFW8
M79%4B9JXB4N6B6FHAT%79IT'"?^2>(:R`G:9Y6''5X7BQGQ:*&'_98NK.&4I
MT%IWZ&=KJ(J7.(FA=XSVMXBHN&>!Z(O!.'.W0HJI2(PQ2(TS^(>8^(6"J`0`
M:(QMEXC*N`.*R'I@2`2STHV!)X#@B(P+*([*2&)KQ&\F*'.SYGFO:(H8IP.G
MZ([V9FBPTHEH=BZ0N(<(J(_Y6`@#L`4O%!P+]0('Z8"^9':.!4SM)63&E%FB
MU5G"HGS$9!H((``,(`)KP%.!M(7XA0,/UXI659$#N2K[Z!MX,S4`=$\W^`('
ML%,@$A>PU6,^!FG/>%@JZ0,O*0#E(E/J0)-)^(!V42[X8ELZ")#6E'><8AI;
MD`#IYT3_A?@"BU$(`3"2J\!<A[B)=E$<T'"4.)AGNI1'.L"2GK`.`[4;ZK<"
MG5>4ZK!3P>64Q:B&)H"7&H6-!1E3=(E29%%VY7AVUR,&?O$9T1,#-UF5)24`
M6,D"`+,3FQ%3TVB)*O`IX-)&!"F6H[`+D\,%"!"23-B3GOB)=\B2?;"5(CE2
M?,9GY/$%#[`='762M),E#M%1*K@17)AUH757OI*%?.24+_6+)0"5T(@K/'4+
M(IDS@[D"EOD]'YE1+@"$[!`<BP&6U8B90G"0FED"9%B:*N:`44DK+&F=7/(+
M&T.:+0"8=[,;$^@".[F7?EF0!FEOY'F6VUB/.\"2\YDO=`2:_R30&T#H!B<0
MGEG)4IT(6'1XF"60%[""H"W`EWP9!/O(*6G9:(5)CW?'`FQ9`_/RG6_!F4-P
MH3O`?UODEGU3!,BY>`+)GQ\'6IL%;KP(G)]%2!U%F9#2`%Y02##ZFJ=IG$$@
M..W58ARZ6C%5'9^Y&1"7*C&%-P7P"Z80'''Y;[*%`]RA4<S9E[<FI#B@EO3I
M?Y`I"I^@!@"#/;WSHTTJ6%OY"UZYI"[5DD?JI3I`'B#E/969%\BUIWS:I\6%
M5G;*G&7J'J!XI38@H@,*!9$$6'8:I1`5'`Q0H%+I>E-@&E+Z"_%)*D;*C"O0
M``>P7+^@4-)!65N:`E$8<W<$C!EYH__,5"Y]<``AB0E]\)O_M:I[59X(V0=A
M%`#_J48H0(:M(Z$?^I.F(D"?ZB,ADY!5Q06?BB_*6J'$JJ8AIZISNB_<5`#2
M<Y306BI&:J1<8",&@`"$49Q.,*RH&90(8R.X01CZLJW4))K]I#U\B:Z%>DN]
M*@+WNBE!N8(/BI3]MGXRH%;TZ@*K@ZB3<EERZ:NKPYN^&G%A8%$[P*JV.;&V
M6K$V:E?FR`-!::[Y::A(@%8(&[$Q*HPS,+",M:F42@0<&Z><*EFM:+(]L+(>
M*[*S5;)=2J=`)K/1.K(S*Z<UF[#2NI8.:K-!>K+25"IL>5H::VX6*[%-R[07
MFY%#BIHM^Z7_OZBS/<NRT92J'8NK2VNE/ANP6?NU/)LH6(MW,)M5&<I7,?NB
M\QB,:5M:P*2T._NV02A]8YLHBUH$%/DM]%JK41NX@#NX4%M6K8.W=ILJ9YNW
MB4NL<5NM(!H\[/<#P<>X8ONSF(L#BRM^83NV:]NP0.NU)K"XE@NZHMNU12NT
M]$BWJ#M8C]LI1.JV1*MYKPN[50ND9?NO;F`'4'I^5PFP=4NYA3N\S?>TQ:N1
MM1N\D&M"7(E^7:FL9@J\5FNZL06FK4NUH0N@1RD`$5A;EHFFF5NZ5F6R$SFA
M8[F8NTF!?KJ^[-N^IP0T8^FHSALHDJJ\V%NZR3L#I8H"[GJT5,6U_RG;H3D@
MH>!)HK>;O0A,6+1*L8)+O%*UO`>;N]2+N^&;MY\+P,H;60(KOE*0OY1RN!*<
MP!RL6!2<):&:,;+;%"=<#_H2`P)!I<A``"OE`B],`,\P!C)0PR@\`^RR!;L0
MJIW+#)CZPRMJ2<*!"?`P`T?,`&A0FS!PQ"^AK#%PQ,Q0Q"M`Q4G<L+RZ&?7$
MI0_X(6\4/C(@0W/BKR5<GI/)I(V;QE6,P+=)*[55"W/V*K.Z$\HJL23)4R3I
M;]IKE@V`EY$$,#&5K#(P*)`B,_[CORF`"2,!+[/ZQ-SD(U4*R8V\3?U;`HQ<
M`$*2(-JI`IGLR$#S$CME(Y'I`KQ:)::!&?]F/+JI@4Z)3+;Y%QRP`,<LNU.Y
ML#4KJDNV/,MNFL.R7$67W!2_K,:)FY#`0##;RBO&7`:>VL(Q,"CO(@MD\K$L
MV\FM:\TXVT$Z@,UTI`,O<<`I\,W@_!:((1VOS`1_>\85I;L[,,.2A+B-*UL>
M?+/V*U@@&\(8*@11^D+^%RA2.@&R0Y[[W"W8^<\(\IPG,-`.4-!=22L&,V>A
MNM`$P`!NZBJ\05_[_`"I1=%=60D!P)Z>'!P2[:CNL`7<S"7!`:I=J<G96BDH
M:P*+:1[ILQ/"007[8QYD"BG;P0+HBS4:U2UF;,FOY=.BN=/0F8)$W=%E*]3,
MD-0$A+!,K!\7D9O_^U=&@0/3<5$Z6V275>N\$,`>X6J9/)W5_Q$`8;W*53PB
MGG#6!$O6!W$VX5J/QLP\_U0E7*0"<UW6W)N0P/0*XAH.K,!$YRR\*V`*MXG3
M`&()JSQ1#'$DP0&?9<O839V;U-&_ZC?4E`W9+"#94]V6Q)R97MG9+6W9(PD!
MHDV6+8`WI\`:D6(,%#$()\VWYK%%_>RH?@&ML#+;!.W/_S26F[T0"*#2A"#6
M*2`(;\G;PVW&NBW<J675)&#<_P2I;MK<G`K=PBV_+]`,Q#$/!;$):$W/6BO"
MZKQ505S>XOVK1\/:4T$1O/H+^IJZYPVTA&N\&`F<]^L$^5`-X5H2P!#;&W9W
;O4XPSS2;S2+\TKR4OP)N20D>P&EEN0(>`@`[
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>21
<FILENAME>u49809u4980920.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 u49809u4980920.gif
M1TE&.#EA``&F`,0``&1EF9^>G[FYN-35U9>7E\K*RK^^OJ6DI;&RLI"0D*RL
MK(B(B-34U+"QL<G)R:NLJ]_?WH"`@?EE$.#@X0``````````````````````
M`````````````````````````"'Y!```````+````````:8```7_X"2.9&F>
M:*JN;.N^<"S/=&W?>*[O?.__P*!P2"P:C\BD<LEL.I_0J%0EB)"L*VL@$$,8
MJ-A2(1$I(R;54QH51K=G;UY\ZER+YB4M%Q81@$T#$0<#;@)V)(=YB'@OC'2/
M-X=6"@%E!!,&91&5$UN8FH0%F@@(F@IE(J<1EZ419!-M!PF("&F!95]590D#
MF66<([JN`P1D9Y6X!*"^RB2B9JT1I<BZ`926G[]6`PME"PO("I!&DIT1!8$&
M!)>^G5Q]G0L3X!.M9P=E!Y\%$PGX`MRL^!D!KT0:>FFJ`%QP8%VV10OQ$1@P
M0!2_;O`8T@,F@IZ]"?@$S8O0:],Y4>K8_Z$ZL&"`KI:9QA4IYPF6'P$!R.BQ
M8Z7-``3(X`75)"*131%!TX3ILR9A3E3!L.@:.*'`-:A;EEXA\3,HTCV;+KE#
M\[3GP#)G91*Q$VBLS5^JW/&$-2)3@JQ"$Q@R)#5.0X@]"?(MJLD:5,*$"U8A
M4/:K5H)U7>']>J<F7L-F[Q1TI%:'R`$)Y-7L<PXD*D]"Y='S15&GGTS\[O8)
M"&@3(0/=#G)).)MAZ9`0N?U#.NL9EBT;VZPNTQHKV$H%4/Y>V7+JG<Y#?$5H
MZ;8/,F5ZLI&<<"N"JE7H^9TOZ2JP,YVV;6G*I>G2]\-NL!4TKO/KK68CE'<>
M>)3!$@!&XMR'!?]\FV'GX(./U)2"`F?`\@6$&&;XA(0H\*?AAR`B$1T++ET8
MHA`0C)"B""NN.(&+,+*HXHPRUAACC2_B>&..//9XXXX_TNBCCD*V6.210Q*9
M9))`TMBDC4CRZ"*.)U9I)7937JGEECYP"(0"!QB5`C>$D-`.%`94R-D*"1B0
MQE`D@2<2)K-P24=;8DZXQP@!B`6%ES,(,,N;>\*2`#^9[*&7EEFNH(`X)D7P
M14B\@">.@6C],H&E)`2@CWRXD*>)`*K,,IX(OBB@$S^<JK.+*A6*T*J<A%CJ
MJA7:S4?7IF6(<RM)VO%S!WUN?<(5%C&!V&B/*J#&!4NP!<+2``Y("H'_2-V4
M),L`#%@[K!L0(*3%)6"2!%H!"R"P(@,)'"H-/].B5(4!@<R"SXKQ2EI%`\)M
M&T@5!3BPJ4KM$F(%2PS(VT>X^#2PJ0`IMN6&.87ML>)F##@9I9%*,KEQQ\O*
ML,6UA$E8$&H%:E(89!,OQ9<@MRS*(<IW#+3%&O#P9',`3:FL,B)/C7:47,=E
MM<"E$T^<TUY>;D:5G<V^4_(>_U)6M&9A&B+LKDH)5A5P"!@SL]0U?X7S32Z;
MW9<@>_&TR2E"G\SSU:Z*U7.QAP129D%01\VUI*61T1)*NXZ&#T5\EZ;;Q`?X
M.LP\LB`]5ACYNHE%SI0/KF]O!QS^[U+P;@(6_TB:6_Y5FZ2+(`IB'+J"Z"8$
M;=TW"C2GL1ZGA8\.GI^;B@.JI.(I`%Y+IUI-`J=G)RUKK_FMLOPJ=MRG#*3/
M^U[T>28J'EZ`<NJC^IIJ3;FC#2&[L+H,@JX%_I>%OF"-AN7'$#\)3THY(P$0
M(WGC`@)#"?+_-5K#D^K'L25Q+`(9`^"*).8Q!7[,@!JC4A'F%P,3N:`B1>B%
M$S`(`W3,[H,@[!L%R1?"$F*H?B9,X95&>`*?N?"%,(RA#&=(PQK:\(8XS*$.
M=\C#'OK0A2W\H1"'2,0B&O&(2$RBSVK`0A4ZD0=-G$$4GTC%*EKQBB\HH/A>
M(#L31`<"(VI!&+%(QO\@I`@@!;A0=!AP$R[P#!/\*,!K#)"B-'(C?P`16'2^
M8(`"@#%_#@PD!`=I/T$.\(&%'"0!`9A(%!;P!SQCS!<"@(!T'<`36T!`0T11
M20(<(#J>E`6\PN9&2FJ2`.@B11E7&0.>[:43L-Q"*7>#DTZP1(Y^J,E=,.E&
M-`@@;+%BI3";U;98NJ.4!BC8.]J%CG898`_"HZ0RN)!,7B2``,$<YI98.$5M
M>G,'6Y2B"5#X32QFJ9M#6)86]??`11)RG89D9SR5Y,YZ(A*>S%H".M%9SG[Z
M\Y],%)(X`4I0^L%@?#W@9T$7&K)'+E2%#9U@%E&`ST/.LX&*;*=&+VK1C'+_
M-(+YA-]#K1C.D9JT!0H=H4)/6L65GJ``C,EF"1S*TMGQ<XJ#Z$1)4^#2FI)Q
M#^V#A1*'2M2B&O6H-PSI"W(:5/RH10)0C:I4I]J"J5HUJBZXZE6KJE6J<K6K
M6&4!`,9*UK*:U0<PI:0)G"H3L'IU!6X-*POB"M6ONC6K=&V!6?=:5A\@%#\[
M8HSW9B!8&]"UKG/-*Q(.B]>XZI6O?%7J3'%PK0C$+TVPG`%F@PJ#PTK`KF!-
M`F-!V]7'0O:L1V"K07)YSA88(K,T\"QIM2I:Q2;6L6(]+6HIV@/5FND8*FA2
MFB#`!7O*2+:#9&P]#7%)7AP@2$0:;2-'H-PHZ7:W_P(=IPU\>SQ/U:"P-4`N
M7&WK@MWXDK,JD.YX<;N"Z_8UH2G@+AW$FU[RMF!/EWCM"]1;7_:JP+UD3><5
ML(!09O54!O1-`7]9P(4!!(`0^FWL76>[U15``,!C1:EG&$'!`U.XPNN=L/L,
M%`"K=#'$H?WP6_^+88-F-P?RG4*"4;#@%>243S&H\0ET7`(,`P`),3[H1CTZ
M`<\>4KH6U:`(&'"ABE(WK]#-$9*SZV._*BG(49CQCNU+!!Z7P,LCJ+(+>HKE
MG1I!RR8`LP_4+`(PITC,/)6#94G893:SF0=WW@&<"[QA[4JP"6C^,I>'D&<=
MP+D(6);?FNT\:"$4F@93.O]T#9B;$W50\L8O2K2&)_M.D(D7GJ.-<D<)>%@G
M^X^0)Y!T<%-@WBH0XL&#%>J?>:N$0)/@T3C`-?E\W%/\`I6X`Z9SG1LM:/\6
M0=<V4+6+&4P>6+\:MD)%Z@\]6\/#2KL,UKZVCU\H,A*G%;@LTK03;/UD8P];
MQ*[U`U!`@TU,M[?%.'!W,*A2V0>1N\W$!D*AN8``2E#$P0.(-8L!G`,E&R0/
M!!;V1T]M9'9.F9Y#WE%U3^VB/0'5/B.L<H=AO#Y.'^'>1<[W#_;-IQ'U\L4K
M4C9E!>K;*->:T>8FM,A+8/%->1>])E"YAQ$.17W#'-W'GCD)Y%V4IPW<O<L&
M`F#_9;#S_L8\S4+'<]1%8'!$T)H$*E^V2\4-Z)^G^.-3S\&%X2U@60-!U/*4
M<JB1-'$BCWI&#S?NBU--=G#&M^-SE[G0D1W>L.=`V1[.DGSY[.=%[]WON4;\
MIO-YZ*8'D4K</+/72[M8Q2>[[E?'`=>9`'*^Q];R'K=PUD^PTGJO'$*>GT'J
M93!Z'VQ^S!!?^'0A_G",OAU';3>U9.>G\X"R/.&P/]'J<PSZX(>Y[HY?ZQSP
M::7A=[;X,VB]"UX;B&^[^_5QQH[S]PM]R:)`^GG/;)^8&O!@^SY#VY?PU^'K
MXM:/D`L*>.:O"X5]X7>?^$]?=>:_CWGOLWH>R/!L]'=M_P080]DF;0>(5-L&
M1*U4<C$%2Q>#=UJ2?BHF53<P1>#'`D3G2^9'>GEG9C\0<,E$`);F2NI'>6"7
M?SJ0)1FX`E47##R'(8,01Y^T*=#F=.L7="KH5^XW:S*P>4WD>'L`4^*@*@YV
M@K15>3OH@?K'?P276F^0?#Q@7IUP$[54@7(E>4MH?._VA$DW4$)2?]GG<;I7
M0%Q@?7VB4Q\3=Q&7=A!0:HC$A&,H`BW(<4I%>(37`Q'&%0*G8/?W?%L8?F.F
M<48@ADM@=*A2)B!"@;GEA5='9A(HA67$B#Y8ATP7@X*H:`6%;/P$>.?W>'8W
MAW7@!]6W!?Z@B$H(=%_8A(V(=/_^MP.&"(:W9WOR%``ITB=G9``,H`]R-XLN
MDGMR"(838(F0IAEC&%$?`G_/A!3,^'*!R(6DUX.OZ`)ED(>96'A3P`7@T`>8
M=8-:J(H6)H@A0XS0:(QBMXIT4',UYXS@.`Z2:'9/M(%[F(+@^([8"%(_$(%(
M8(\O\()%P7DBIU)"-A.D4FDQ=7UXD(<IY88,*7MER$A.5GOY:$:TTPE]1'ZQ
M5HT#Z5-;]HS3:(T*URPVP1A(`6P$T08+V3'_Q(GLMW_E!4NN9DPG68`T69,W
ME(`V:4/=!A2H](`#&)+E.(F-!I+3&"6A%XXI((]^H(]^1I2R"%*^")4-28NQ
MMR02V9+_5-<X6X`H#(&*+HD"_H@&F!B4'!ER'DF60^=@C3,!#+`%Y7>-FAB#
MI<>1A>:4_X<`O>!O)W>/<G9V?"E,;==S%7D6LE$`.->2L5B69JF*W11YL-0`
M?5(F>SE12,D&$GB4E`F8,Y=\\UATBV>'J^B8F%EX#]EI%#>5:%>5,4*)?(F(
M8@F7H)F9BEEN(N:8C7)3G_F)F68%ZH25)H6,*22&P#E2#[8.%-(G!M"'7XF.
M\7-@!Y:8/KB<6)0F\=='>W!)22"0E5F,)SF:WBF=WN1&%-(Y_6:"1-"<K`B4
MW9F;5G::JHF:4OF>\CDDS_)J:60`"A!A&Y>>$`*=BJD`Z)!)_]$T``]P8IG(
MCW]IA[<YD>AX16]I`H=Y>ALYH2S0*,*)C0AJ)ZX9E@O*G]LIB@VZ6I108@>)
MBOXYFU'0FT#02Y[R:@\*C[,&@O/36OV$4!DJH2]IBD`%@9J1DS[ZHT":1-VV
M&^,QF=R5H3<:0NB)(C?P+'WR;=Z(F\$XFQWZG=SYB2%#=!#0F13*GB@JC''I
MH21B03#XH=%YIOCXI58Z=TDJFRDJ3.73IB(%IF+JGE3I=O!IIRY7E"FTGY>H
MIFNJD`GZ"$TTHA-!)V@*H;($$CGAE2U@:23(;C+5`H9:)HL2`\2P!9>"/YK%
M&"1H<[RC8;($?^O@J#"`.U5C!+UYA/_-9IBAZIT-,!"_9(72Z2<301$1>@*L
M>H1@XIHK\&!($7!O)`.V:G(A2@*U4!0(H!YD"@.G4!*LPC>CR">W.`.%L@<$
MT$WKF(8Q$&$!@)]<^JOSQH%"5ER9Q:HP8#$PB3HT,!J&4`F^F@1'V$=BD:M"
MDJR&H```=ZPN<@G1<2C\8*\E,*\PQ1AW(3(4\4S\$*X^Z*]C@`G/)9WX2BHV
MPT^G`%/GH`EU@I9=6@]/X3T":P*7A`NB8Z`K\$S*,`N%E9H\`A1D$+'ZF79M
M&8#D2I0HZSJB,P,C*RD\:;(N("<7(JTK")MB0(:+Y[/'JCH[@+0P0!$=JSI!
M^&)^Q`-]Q"C_3(JB<HJCS!F*:UI"VLFQW^2G(,J16=N>(^"REG8`/8L)\M`"
MS65IFL2ME"!&QGE)/:E6#+0":"M8:XL;/]LG/2M88S"L/EBP8/*DC`&97I*E
M!FE*3WH7DM,"H-`KOJ`=7DJ:KG4'Q]!@@^`)A(<VK\9O!H"?0=4H.S,!#<`=
M;I2M\9D_TD!<MAAP#J:NI^8``=M@"^`P`0"9@Z"B_S@6E?1JC!&O/0*Z8Q%P
M=\&T)9!,0N4N1Z,`N6&J2)`U;N&6(6MSE/&NWI@"OT2D2!%_UTN]EO%@(3N[
M9<,S`?H"W9LT[_-),RHK0`46?O"J+``W[\`4*B.]7$LC!S"ZFTL>LPM0F)D'
M<$S%;ZO`$;2F2ORFNMM(O$/GO\<;P-#QJ/J`N\=@,RBEP/6@NK1*(LX6P0$;
M1:H"$L[[*`PQ-$JP#I'D*6N[O>-4L@?)K2Y<`I5D#78+I3-<`BHL`'S[I,VX
M`J*028CK*6GEP")0PX=[MW$KL##LN'<;N4`\*I1+LB=*IQ+U05$$@GR:M`\R
I1799I6$:(F4+(7;YI_O[B!`9GW>ZI^^;M+X[QA6ZCTT`QTH*!2$``#L_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>22
<FILENAME>u49809u4980921.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 u49809u4980921.gif
M1TE&.#EA_`"T`,0``)^>GV1EF;FYN-35U;^^OI>7EZ6DI<K*RK&RLI"0D*RL
MK(B(B,G)R:NLJ]34U+"QL=_?WOEE$("`@>#@X0``````````````````````
M`````````````````````````"'Y!```````+`````#\`+0```7_X"2.9&F>
M:*JN;.N^<"S/=&W?>*[O?.__P*!P2"P:C\BD<LEL.I_0*%(B&%%75``@ME4)
M)":`9"Q1O,`R]*NK(B!$:AY;I*4-R-4YEW>%5U59>BQQ)U]A70<2!T$$"3&$
M)W5!A)(RAE8UD#9]$U2-9!,#"V-B`G4$9`03J&,$"F0%$@4BL1)O"&,)$@2S
M(Y5D$EL%M6_$8`.ZMJO)8*P+$P8(O&0#K+NAL+(3"K&SK`FLJF#<VM\#!6)4
MH*_!$\-C"-TD`*/M=ZWD[>9CP].](LC&*+"FZIXL;087T>!$Y0N!.VZ>L3*U
M9<$6,1,LNHNEJIXJ`XY0=1(@2D*U>0D$_P@P,&8`1`G/#"PPI(`EM`4#ON3<
M]1(!LD0[?2Z0>1$,@%D%'$X0,V#1M00@$PSHM-2D4U5084+CJ<[E+JTR4:GR
MI2@1@05F%%@T*?*I`9:H!(@E(7,`+HT8C[I3JC=IIC\C+UTA`"`91:IP$`-4
M(`9C)V"7+LTCPXS4%9UC#-P9Z4>P*0DIJ48>@^D+6L22O@"39+2+:L@3!`,+
M=AD,I2Y:9K-^/<;0%4(,2\,T@\:TF4QO.J/)$HS=836V1Z!*4-BQ!`,J51:'
M5*EP]D15#`U@9_M/P^55IC&.O1VZB`,L==%QW5`NZZ7TL\=E#P?T]]J*S3=?
M?8>-5!\!OE4!W/\?B6`R`7R@J0&A(S2P-)5-GI6Q52`9%=7A-BTEXEA=J-Q!
MTBB'2*>(B;4A@!,K-^VTDQ]7++"`*E^<2%15[FPA$QJ_5$'=?4%.0!V`!A[`
M8GC137:`61J]<M\5U"488(RHX`4&.C>AP:5,-M1RC6>X',0A00^F0EDRH21C
MQC?JS#-'.K/49M`K;<+#WTCDM5=.*JNHV=H(99J$"W'X$4H-DLQI`R!IOM3S
M9BKW%3KC;X2XB29!I*$IQ:<T2`;JJ*26&H2HIJ:JZJHPG,3JJ[#&*NNLM-9J
MZZTL0#""KA/PVNNNP/XJ@J^\$ANLL,8.J^RRPB)[;+'/!INLL\PF.RW_M-5*
M&VVSUV:[;+??;@MNLS!HTD--J+9!(0FZ"**$-'O.T`AGLWU&"D`XX4J"K[D*
ML5FZ*H1&@DE1<)*)4PHZF687Z^G[R#:U;&%IF5+UV-LZ]_IB`'^;CO$,,2*-
M4`LYLU`\%3H70TI'QK1=0XR18QQ@#3NK>`-H/ENPPX8`S]`[PAU3`41P)T$[
M[()1;)5W!RXG;@$65SI!9`6.8&C9B4\IC;/QT(%^UM1(HC@=$]0BH/+D;[/0
M`U*@5R]2P,8L7<>?U4RU5<VZ;_OQ&#`E]+%`<D:W,*B!(XS&F6RK.>@;)F*D
M=(]FG#%.GPA6>B9@HD//%B>AZ3PJ>6+\*!3Y_V_9H=I');9BBT6BA(=B.*/^
MJ23Z=HJAH=YXI!D\^.M,ZLUZ'=!=E]UF_>7F>6+W38"`+@KU\=O/7`-]N:S\
M/CRED+HT#0&`VW_!@(F\2L#`W`!`@%&-)-HV_K"#=Q_VX>B57=9O%PWUHDD2
MA/^]8>1797[YG4B$DJYAI`;H+7]D.0`$1,2K!!@P7-X:E^JLM2UJD2L3_TO,
M:^R2BZDPRE[_<(<9#($F\MRI00-CG?(Z"#_?5:4=G:B%2]RD&#H=Y``D!-1]
M:O&/Y1VP!)V;`]<"]P04<N$X0C!7$8;H`@&LBXA0\$NKE,B')B#`72M8@.B@
M"(/JZ6`L+U!2$0"S!/\PNN!KMQH7#;S(Q3:.BHTR@*,)P$7'"DY06]ZR(`7S
M>$<(<@N/?PQD(.O(QT(*<H^#=*,B%WD$S3GRD9",I"0G2<E*6O*2F,RD)C?)
MR4Y"LF^>#*4H1TG*4IKRE*@$!2-72<0^LO*5:<2!')F52$,2\I"VM&,N=UE+
M7/I2@KR\)2+5"(0M\DM)3=FB"EP%RV:V8)8V$(#,II+,AV0'`.E9Q#1Q^!ZL
M'(<DVI39*A9!`#,Z\YPY*$P\8J-.=*A$"P@P0`$.D(!X_`T!!WC;\CZRO(N`
M(YX%X(4!E(G.@LZ@#EMX)W[>60>%`F!Y"%`)ZX9TD8O$9B5:-.@K$7E!%2#_
M]*(596@CI.+/`F`-'`Q#AQ:HLPQP)"`!!-6H3%,`S1/4=*;.O.(\T1%"(M34
ME4`%Y##%1=1@"K6HO13F42.(5*4N1009Q>(.;HK3JHX@&NL9@%2MRM4CR,P5
M!-@8+55`U:Z:E07<```J4'>LCC[SK6>-JQ&FM2^YGK-Z93TC&'2:3P"(U05!
M_:4N!6M4/SI5CTU=:E(5.U3#(J$`CMB"*-ZP5;M:M@;F>RIG!)'*SGKVLZ`-
M[2?SZ-&G3E:S`Z/B95=;6KZBXZ]60$->69NZ)+#15RJCK4%G.P,VYG:LA5VL
M8YE*7,(*][B!1>QPD6O(7@7@N="-+G27\-L2\%:W_Z22KG:?6U?@\D&UV-77
M=K7[@NNBH+KA)>)XI<L#JH[!O.E=U7JCVZ\X=O=7N85O?$<UW^DJ`;USW*^L
M^LO=_RH1CHUEKB^5R^`$)S>PP#3N81],X`!T5[^"`Z^`9U7A]AY-PQN.585_
M:M\4J`S#(89"AX>0K.JB.,5+6'$2`#S6%\/8!Q"0<8"!0.,5.+BY$![LA!D+
MY.#^>,&N'(&.W=K638#XQJI:\@W<^V0HFTK*4S4Q>&ULY2R+`,O6C0%C`-#7
MC1&+-$F^;Y=53."VPM>O`Z&L"7J\YBBWN0<^V0]GJ[SC"`]YN0\V,I&1+&A`
MDY8$8%YC;.`@9U"*]M&0CO\T:"OLR!OH]!Q^G3.?Z]P$?B4ZS#L`,%TY'85/
M<WE9:"XOJ9^PXE'_(+^KEN^=A>!%.I.UT'Y.;'&/W.`B2UC7#/;NIR>QZ5@W
M8=A-ML'VMFSL3BMYUCEP=6J[V&PF)/K4H*0EMJL-UQ/H>-OG+3:WD8!L66JZ
MM^-6]@O*S65=V;K;?\[UKH$=Z%_/V]#+O36B"7QJ:?='WTQ.-V99@&5P3]N/
M`G>"C`U^@G?3-.%31D&Y=8!;/C,\X;X:MK]GX'"(DQO:/_"MN&U*[T'+6\&]
M)K2]%3SJLDX<L!^NK\>-4/"(`X(0&U?SS'VL\R_/>MNOK6NJ8;[SD+]<!FY`
M;6S_BQYRHD]`X\E>@40!F%I)6_WJ6(]T#I*^YZQ[_>M@%Z6B=Q7T;)<@`FA/
MN]K5WH*UNQWM+GB[V]LN][73O>YIOSO>(Z!WO(-ZX$58M@GVGG<6$)[O?9=[
MXA5O^,,O_NV/G[NJO3MC,!#K\(A?@>,CS_;&$Y[SG=?\YD7_>8"3JKJ8I[P(
M1D]ZOWM^[Z`O?.M=/_NZJU[F*,AYMQ\S>-:GP/>_+WWM&3]\R+^>]BI(/<F?
M`$W4`_\$SX>^\),?_;-7GP3*+[[D>Z!?*O=^^C4^/#!'WRWE@ROU=,1\';,?
M;2"(_/NP/S[QB\#^X(,?!?7'__7_?OLEQD%7YD=]\6<$__DG??=G@`,H@`EX
M<12W=-9W@/!G>T=0@!$H@=IG=_(W?SN&>WW6`\X'@<VR?SU`@0^8@/9G@OI'
M>`Q(;!6H@:]"@M@G@A,`@R-`@QMH>B46=;Q7@LC747]&+1)U10RP4I`3;T*V
M>IN'2.@7=3:8*K"F?BZ@&3PE`F,&`Q+3,'(Q`+#5`F0V#`HP9A*%!"3H*_5W
M6\O7?PV(7Y#0A'3P)$_E"@]E3J5%!W2H="S@!G_P4955`EK8"`'U6I`3>W"7
M@<9WAEZF`Q^(@B@0AEJE54^UA[X0B4EGARNP,U=4&)2H`IJA37^S%%H8=S+(
MANJ&;C=7/6PH46$%,7FQ!I'(!O^0&(G*(V<*Q8H/$@MYD(E"L(3<-W89UH*%
MV','H``BXHK!^`*!6`)AZ`+"Z"(`4!-Z\8IT:!YR!HTZ((INU@2)Z'JSI"M;
MH#J!&%35H#J`$5B?R"V?F%Q;T%?QD&E4=W(<Y45E:(@X:`<&,&9E=HP[J"RB
M^!"%P`1D)!U%TP+)2`(#26NXHAEPQG7E^&\\:($:]8^40RK;F(94)3'5<`46
M%3YK6'TK>%8Y-UL,EU",]HA5-QN8%W8HF9):1P,2<Q28MC%"M)$@R'0VEWLZ
M4)"Z,I#9Z)#S*&"Z%W`VV9,W`)&+=G#"8HV^]H-!AFM'>&^"A&-!`$U2Z8`Q
M.)/I1F+_:$B*6AENONAV/VE7*L$-!:!51X&/+6``#K`*?U,8J;B5V"B3BFA!
MEY6.V^`*TK20+B!96I"'U#AY1+"3+KA?KI$229$V-XB,>:!5NC)0!=F3'?E^
M#1F8#R=7(GDU)(E@B-D(8@`?.$*4.LB+B"A;PX*43;ER]::4A=8K6_``1P$?
M[`@#Q4@'PX!-PGB8-1D#4@F8O[AA9DDYGKEC5`=$O(69/D65-2A^,,9,!(ET
M`0D0<IB&0Z";VY=L';E(_`*2\@@J<"2=&$B3M^E%P\ES,1>9N\F!*5:=?NF!
M"%25\0>>,G=D[CAH*1>?^5:<.=A(JH6><753KG9=_&EN-DEC_PC9C%<$#ENX
M9L3)2-4#:ZVX%'SI=`CJEOP'>*%F+A(U)"+`F/^(E=565B]F<`!6.D]E`)W)
M9/K9;-=I`YJQ&3K%`(`8D`!V``;T6K,I`+5YFU6EGQ,)!,(06:'0B0"`ES2&
M17U97_29<O-9FKS&H<`UE>X7`V%H49NE="I9I59:I5":AZ8%I)KE;A9GF\;F
MGY,)G240FRVY4Z\9E9R&G5`9E"Q068WIIF;HG:#9<SO`CRD`D0:7HOO99">*
M!'.JG26';T=ZFL!&IF`:2RRV84ZJ+]OVIS/%<`8Q%B:2GN+)DEK0!5?$@9C6
MC-!0&,W)`IVJ`,A@4DC'4V/1,#`P9O]CN0P'E:G*PY9V>@AUH%(S\%(@0@L&
M`Z@V%5&4@P`(H*HD!@!IZ8GA\9LH$*1TX!*.&`/_X`VJ>D9=H%4'H!<QX*NQ
M@:U]B:T"@$_N\)ES9A[LM*M-1XMU6*0[\P<]Q86%DP?K^J:^X(A]F8RX(0-S
MDJ$Q15/WJ@`5$P,O]0E[\T11X*MA68=6Z!*$\3W*BE>`%*350&8*U`7"-`L'
MP``)D%:6UU2.2`#YQ(T+UBP$:Z/0H`IY%;(*<*PR8!"9@ZSW26U7E0YC@45R
M1)8M$0QD%@,T:Q)E!P.$$0OK4J0%*C>XN`(&`+,U*@-%VPI%^ZXP`#A+D%<*
MH5\ND0-3BP/_^2H#5QL#6;MQNB(ZD.JR.*IZ>?6U1C.VK)*@=$JVK%*TX(`.
M\62MT9H"/.5:F68D+$L+1T&W8B4P*I!/!>",:/H&Q+,"!<H+?L57U(%$R\>V
MAONV\U0E9\F6;KNT](1-9U"S9<`.!F&>/<`D4U$'T@"'$_H@BU`'IY4SV'&8
M;FBZ7(HN+/"@+O*Y2\&TR#B2I@L2-ZMZGILHS%B$4L<>GRLQ%M&;*#`ON9`(
MBL`_@>>F7)(H#B6M78"1=GFWND*6>J-6#:`2A"0`K+DG`-``A'%+V)$'T5L%
MM&L"S=M0=PF-Z9M0Z[NJ-LM[QC-R%S8#C0@YH"L+CA&4J2A90(H._"P%3?W[
MHY0%P)`(K$\5NTNQ%G<[LESGOZ5KF_>;EJ"KI7_'*_<[`!FDK2_`K]``4S&C
M"SY!OXBH!>JXM)$X2\.HM[XYF2O<FF47IR7`C("KC@:K`C7Z6G2KN"9FPI,+
MPY8["#[\4)3K3BZ`O.J0N:V0,>4ZNEFY>[2EMM8)5VBK2(^:J`XCQ9'JILUD
M7A\)MF.ZI*FYE$#YQ+3"H1A&MEI\B)9Z:&U*IV4KE!+:?K;)IEQ\>VMLD+LX
MIDZ\*FF\7TRJ!'G\M%,\QRT+Q<P'QJISQU[LE/"II.`JMK."MO]9QH+JJ)<*
8H16DR-G9R;;%!(/<2F[TM:$<.%(<`@`[
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
