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olddog967

03/30/05 3:45 PM

#100116 RE: rmarchma #100115

Ron; Did you see my post 100087? It looks like our thoughts were along the same line, especially in regard to cycle 1 (2004).

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texb

03/31/05 8:03 AM

#100204 RE: rmarchma #100115

Rmarchma, when you and Olddog agree on something...

I'm sure not going to disagree. Thanks for your reply.

My only concern continues to be that the LTIP expenses seem to be heavily front-loaded and may accordingly prove more of a damper on 2005 earnings than we anticipate.

Hey, but hopefully this will all be a minor matter after the NOK arb award.

texb