<HTML>
<HEAD>
<TITLE> </TITLE>
</HEAD>
<BODY bgcolor="#ffffff" style='font-family:"Times New Roman"'>


<div style="border:none;border-bottom:solid .05em;padding:0in 0in 1.0pt 0in">
<div style=" border:none;border-bottom:solid .25em;padding:0in 0in 1.0pt 0in">
<p>&nbsp;</p></div></div><BR>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=4>UNITED STATES</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=4>SECURITIES AND EXCHANGE COMMISSION</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Washington, D.C. 20549-1004</font></b></p>


<p style='margin-top:12pt;margin-bottom:0pt;'>
<HR noshade align="center" Width="120" >

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><B><font SIZE=4>FORM 10-Q</font></B></p>


<p style='margin-top:12pt;margin-bottom:0pt;'>
<HR noshade align="center" Width="120" >

<p style=' margin-bottom:0pt; margin-top:12pt; margin-left:7.69%; text-indent:-7.69%;text-align:left;'><font size=2>(Mark One)</font></p>

<table width="100%" cellspacing=0 cellpadding=0>
    <tr>
        <td width="5.88%" nowrap valign="top">
            <p style=' margin-bottom:0pt; margin-top:12pt;'><b><font size=2>[ x ]</font></b></td>
        <td valign="top">
            <p style=' margin-bottom:0pt; margin-top:12pt;'><b><font size=2>QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934</font></b></td></tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><b><font size=2>For the quarterly period ended March 31, 2006</font></b></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><B><font SIZE=2>OR</font></B></p>

<table width="100%" cellspacing=0 cellpadding=0>
    <tr>
        <td width="5.88%" nowrap valign="top">
            <p style=' margin-bottom:0pt; margin-top:12pt;'><b><font size=2>[   ]</font></b></td>
        <td valign="top">
            <p style=' margin-bottom:0pt; margin-top:12pt;'><b><font size=2>TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE </font></b></td></tr></table>

<table width="100%" cellspacing=0 cellpadding=0>
    <tr>
        <td width="5.88%" nowrap valign="top">
            <p style=' margin-bottom:0pt; margin-top:0pt;'></td>
        <td valign="top">
            <p style=' margin-bottom:0pt; margin-top:0pt;'><B><font SIZE=2>SECURITIES EXCHANGE ACT OF 1934</font></B></td></tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>For the transition period from ___________________ to _______________________</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;line-height: 150%;'><font size=2>Commission file number:  333-53603-03</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:center;'><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><B><font SIZE=5>GRAHAM PACKAGING HOLDINGS COMPANY</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Exact name of registrant as specified in its charter)</font></p>


<p style='margin-top:12pt;margin-bottom:0pt;'>
<HR noshade align="center" Width="120" >


<table border="0" cellspacing=0 cellpadding=0 width="90%" style='border-collapse:collapse'>
    <tr >
        <td width="34%" valign=top >
            <p style='margin-left:0pt;border-color:gray;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=2>Pennsylvania</font></b></p> </td>
        <td width="31%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="34%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=2>23-2553000</font></b></p> </td> </tr>
    <tr >
        <td width="34%" valign=top >
            <p style='margin-left:0pt;text-indent:20.0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(State or other jurisdication of </font><br> <font size=2>incorporation or organization)</font></p> </td>
        <td width="31%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="34%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>(I.R.S. Employer Identificaton No.)</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.69%;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>2401 Pleasant Valley Road</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>York, Pennsylvania 17402</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>(717) 849-8500</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Address, including zip code, and telephone number, including </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>area code, of the registrant&#146;s principal executive offices)</font></p>


<p style='margin-top:12pt;margin-bottom:0pt;'>
<HR noshade align="center" Width="120" >

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.</font></p>

<p style=' margin-bottom:0pt; margin-top:6pt;text-align:center;'><font size=2>Yes </font><font face=Wingdings>x</font><font size=2>  No  </font><font face=Wingdings><font size=2>o</font></font><font size=2>.</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer.  See definition of &#147;accelerated filer and large accelerated filer&#148; in Rule 12b-2 of the Exchange Act. (Check one):</font></p>

<p style=' margin-bottom:0pt; margin-top:6pt;text-align:center;'><font size=2>Large accelerated filer </font><font face=Wingdings><font size=2>o</font></font><font size=2>    Accelerated filer </font><font face=Wingdings><font size=2>o</font></font><font size=2>    Non- accelerated filer </font><font face=Wingdings>x</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).</font></p>

<p style=' margin-bottom:0pt; margin-top:6pt;text-align:center;'><font size=2>Yes </font><font face=Wingdings><font size=2>o</font></font><font size=2>    No </font><font face=Wingdings>x</font></p>

<div style="border:none;border-bottom:solid .25em;padding:0in 0in 1.0pt 0in">
<div style="border:none;border-bottom:solid .05em;padding:0in 0in 1.0pt 0in">
<p>&nbsp;</p></div></div><BR>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;line-height: 150%;'><B><font SIZE=2>GRAHAM PACKAGING HOLDINGS COMPANY</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;line-height: 150%;'><B><font SIZE=2>INDEX</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="98%" style='border-collapse:collapse'>
    <tr >
        <td width="6%" valign=top style='padding:0in .7pt 0in .7pt;border-color:gray'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><u><font size=2>Page Number</font></u><u></u></p> </td> </tr>
    <tr >
        <td colspan="3" valign=top style='background:#AFFED0; padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><B><font SIZE=2>PART I.  FINANCIAL INFORMATION</font></B></p> </td>
        <td width="4%" valign=top style='background:#AFFED0;padding:0in 2.9pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="6%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="84%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=top style='padding:0in 2.9pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="6%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Item</font></p> </td>
        <td width="4%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>1:</font></p> </td>
        <td width="84%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Condensed Consolidated Financial Statements:</font></p> </td>
        <td width="4%" valign=top style='padding:0in 2.9pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="6%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="84%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=top style='padding:0in 2.9pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="6%" valign=top style='background:#AFFED0;padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=top style='background:#AFFED0;padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="84%" valign=top style='background:#AFFED0;padding: 0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) &#150;  At March 31, 2006 and December 31, 2005</font></p> </td>
        <td width="4%" valign=top style='background:#AFFED0;padding:0in 2.15pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>3</font></p> </td> </tr>
    <tr >
        <td width="6%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="84%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=top style='padding:0in 2.15pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="6%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="84%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) &#150;  For the three months ended March 31, 2006 and 2005</font></p> </td>
        <td width="4%" valign=top style='padding:0in 2.15pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>4</font></p> </td> </tr>
    <tr >
        <td width="6%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="84%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=top style='padding:0in 2.15pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="6%" valign=top style='background:#AFFED0;padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=top style='background:#AFFED0;padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="84%" valign=top style='background:#AFFED0;padding: 0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) &#150;  For the three months ended March 31, 2006 and 2005</font></p> </td>
        <td width="4%" valign=top style='background:#AFFED0;padding:0in 2.15pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>5</font></p> </td> </tr>
    <tr >
        <td width="6%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="84%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=top style='padding:0in 2.15pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="6%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="84%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)</font></p> </td>
        <td width="4%" valign=top style='padding:0in 2.15pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>6</font></p> </td> </tr>
    <tr >
        <td width="6%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="84%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=top style='padding:0in 2.15pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="6%" valign=top style='background:#AFFED0;padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Item</font></p> </td>
        <td width="4%" valign=top style='background:#AFFED0;padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>2:</font></p> </td>
        <td width="84%" valign=top style='background:#AFFED0;padding: 0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations</font></p> </td>
        <td width="4%" valign=top style='background:#AFFED0;padding:0in 2.15pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>24</font></p> </td> </tr>
    <tr >
        <td width="6%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="84%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=top style='padding:0in 2.15pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="6%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Item</font></p> </td>
        <td width="4%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>3:</font></p> </td>
        <td width="84%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Quantitative and Qualitative Disclosures About Market Risk</font></p> </td>
        <td width="4%" valign=top style='padding:0in 2.15pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>33</font></p> </td> </tr>
    <tr >
        <td width="6%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="84%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=top style='padding:0in 2.15pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="6%" valign=top style='background:#AFFED0;padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Item </font></p> </td>
        <td width="4%" valign=top style='background:#AFFED0;padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>4:</font></p> </td>
        <td width="84%" valign=top style='background:#AFFED0;padding: 0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Controls and Procedures</font></p> </td>
        <td width="4%" valign=top style='background:#AFFED0;padding:0in 2.15pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>34</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="98%" style='border-collapse:collapse'>
    <tr >
        <td colspan="3" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><B><font SIZE=2>PART II. OTHER INFORMATION</font></B></p> </td>
        <td width="4%" valign=top style='padding:0in 2.15pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="6%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="84%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=top style='padding:0in 2.15pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="6%" valign=top style='background:#AFFED0;padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Item</font></p> </td>
        <td width="4%" valign=top style='background:#AFFED0;padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>6:</font></p> </td>
        <td width="84%" valign=top style='background:#AFFED0;padding: 0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Exhibits</font></p> </td>
        <td width="4%" valign=top style='background:#AFFED0;padding:0in 2.15pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>35</font></p> </td> </tr>
    <tr >
        <td width="6%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="84%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=top style='padding:0in 2.15pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td colspan="3" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Signature</font></p> </td>
        <td width="4%" valign=top style='padding:0in 2.15pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>36</font></p> </td> </tr>
    <tr >
        <td width="6%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="84%" valign=top style='padding:0in .7pt 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=top style='padding:0in 2.15pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>2</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'>
<B><font SIZE=2>PART I.  FINANCIAL INFORMATION</font></B></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><b><font size=2>Item 1. Condensed Consolidated Financial Statements</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>GRAHAM PACKAGING HOLDINGS COMPANY</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>CONDENSED CONSOLIDATED BALANCE SHEETS</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>(Unaudited)</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>March 31,</font></b><br> <b><font size=1>2006</font></b></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>December 31, </font></b><br> <b><font size=1>2005</font></b></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="5" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>(In thousands)</font></b></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><B><font SIZE=2>ASSETS</font></B></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Current assets:</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:5.0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Cash and cash equivalents</font>                                          </p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="88" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:8.0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>14,880</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="88" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>26,684</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:5.0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Accounts receivable, net</font>    </p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>286,317</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>251,357</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:5.0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Inventories</font>                            </p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>273,121</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>287,810</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:5.0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Deferred income taxes</font>                    </p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>15,860</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>13,069</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:5.0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Prepaid expenses and other current assets</font>         </p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>51,179</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:10.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:10.0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>50,997</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Total current assets</font>                                      </p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>641,357</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>629,917</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Property, plant and equipment, net</font>        </p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>1,448,302</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>1,443,460</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Intangible assets, net</font>                              </p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>80,130</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>81,633</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Goodwill</font>                                                 </p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>316,736</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>317,171</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Other non-current assets</font>           </p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>87,037</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:10.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:10.0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>90,197</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=2>Total assets</font>                               </p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="88" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>2,573,562</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="88" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>2,562,378</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><b><font size=2>LIABILITIES AND PARTNERS&#146; CAPITAL (DEFICIT)</font></b></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Current liabilities:</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:5.0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Accounts payable</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="88" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>229,557</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="88" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>177,600</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:5.0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Accrued expenses</font>                                       </p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>216,870</font></p> </td>
        <td width="15" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>176,432</font></p> </td>
        <td width="15" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:5.0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Current portion of long-term debt</font>        </p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>23,275</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:10.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:10.0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>27,859</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Total current liabilities</font>                         </p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>469,702</font></p> </td>
        <td width="15" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>381,891</font></p> </td>
        <td width="15" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Long-term debt</font>              </p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>2,543,475</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>2,610,481</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Deferred income taxes</font>                           </p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>17,358</font></p> </td>
        <td width="15" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>22,593</font></p> </td>
        <td width="15" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Other non-current liabilities</font>                                              </p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>41,206</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>41,123</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Commitments and contingent liabilities (see Note 12)</font>         </p> </td>
        <td width="15" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>&#151;</font></p> </td>
        <td width="15" valign=bottom style='padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>&#151;</font></p> </td>
        <td width="15" valign=bottom style='padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Partners&#146; capital (deficit):</font></p> </td>
        <td width="15" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:5.0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>General partners</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(25,445</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(24,946</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td> </tr>
    <tr >
        <td valign=top >
            <p style='margin-left:0pt;text-indent:5.0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Limited partners</font></p> </td>
        <td width="15" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(487,993</font></p> </td>
        <td width="15" valign=bottom style='padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(478,513</font></p> </td>
        <td width="15" valign=bottom style='padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:5.0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Notes and interest receivable for ownership interests</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(3,150</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(3,102</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td> </tr>
    <tr >
        <td valign=top >
            <p style='margin-left:0pt;text-indent:5.0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Accumulated other comprehensive income</font></p> </td>
        <td width="15" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='border-bottom: solid black 1.0pt; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>18,409</font></p> </td>
        <td width="15" valign=bottom style='padding:0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='border-bottom: solid black 1.0pt; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>12,851</font></p> </td>
        <td width="15" valign=bottom style='padding:0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Total partners&#146; capital (deficit)</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt;  background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='border-bottom: solid black 1.0pt;background: #AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(498,179</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>)</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt;  background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="88" valign=bottom style='border-bottom: solid black 1.0pt;background: #AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(493,710</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>)</font></p> </td> </tr>
    <tr >
        <td valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=2>Total liabilities and partners&#146; capital (deficit)</font>                                           </p> </td>
        <td width="15" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:double black 2.25pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="88" valign=bottom style='border-bottom: double black 2.25pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>2,573,562</font></p> </td>
        <td width="15" valign=bottom style='padding:0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:double black 2.25pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="88" valign=bottom style='border-bottom: double black 2.25pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>2,562,378</font></p> </td>
        <td width="15" valign=bottom style='padding:0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;line-height: 150%;'><font size=2>See accompanying notes to condensed consolidated financial statements.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>3</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;line-height: 150%;'>
</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>GRAHAM PACKAGING HOLDINGS COMPANY</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>(Unaudited)</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="75%" STYLE="border-collapse:collapse;" ALIGN="Center">
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="5" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Three Months Ended</font></b><br> <b><font size=1>March 31,</font></b></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt;  background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>2006</font></b></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>2005</font></b></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="5" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>(In thousands)</font></b></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Net sales</font></p> </td>
        <td width="4%" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="10%" valign=bottom style='background:#AFFED0; padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>645,007</font></p> </td>
        <td width="4%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:.7pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="10%" valign=bottom style='background:#AFFED0; padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>620,539</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Cost of goods sold</font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10%" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>576,497</font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin-left:.7pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10%" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>542,095</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Gross profit</font></p> </td>
        <td width="4%" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10%" valign=bottom style='background:#AFFED0;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>68,510</font></p> </td>
        <td width="4%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:.7pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10%" valign=bottom style='background:#AFFED0;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>78,444</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Selling, general and administrative expenses</font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10%" valign=bottom style='background:white;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>31,105</font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin-left:.7pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10%" valign=bottom style='background:white;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>34,295</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Impairment charges</font></p> </td>
        <td width="4%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>&#151;</font></p> </td>
        <td width="4%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:.7pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>1,605</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Operating income</font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10%" valign=bottom style='background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>37,405</font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin-left:.7pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10%" valign=bottom style='background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>42,544</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Interest expense, net</font></p> </td>
        <td width="4%" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10%" valign=bottom style='background:#AFFED0; padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>50,385</font></p> </td>
        <td width="4%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:.7pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10%" valign=bottom style='background:#AFFED0; padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>42,774</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Other expense, net</font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10%" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>37</font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin-left:.7pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10%" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>337</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Loss before income taxes and minority interest</font></p> </td>
        <td width="4%" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10%" valign=bottom style='background:#AFFED0;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>(13,017</font></p> </td>
        <td width="4%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:.7pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom: 0in'><font size=2>)</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10%" valign=bottom style='background:#AFFED0;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>(567</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Income tax (benefit) provision</font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10%" valign=bottom style='background:white;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>(3,031</font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin-left:.7pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom: 0in'><font size=2>)</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10%" valign=bottom style='background:white;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>10,426</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Minority interest</font></p> </td>
        <td width="4%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>&#151;</font></p> </td>
        <td width="4%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:.7pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>544</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=2>Net loss </font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: double black 2.25pt;background: white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="10%" valign=bottom style='border-bottom: double black 2.25pt;background: white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>(9,986</font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin-left:.7pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=2>)</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: double black 2.25pt;background: white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="10%" valign=bottom style='border-bottom: double black 2.25pt;background: white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:6.75pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2> (11,537</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=2>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10%" valign=bottom style='background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin-left:.7pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10%" valign=bottom style='background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Net loss allocated to general partners</font></p> </td>
        <td width="4%" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="10%" valign=bottom style='background:#AFFED0; padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>(499</font></p> </td>
        <td width="4%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:.7pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom: 0in'><font size=2>)</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="10%" valign=bottom style='background:#AFFED0; padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:18.75pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2> (577</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Net loss allocated to limited partners</font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="10%" valign=bottom style='background:white;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>(9,487</font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin-left:.7pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom: 0in'><font size=2>)</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="10%" valign=bottom style='background:white;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:6.75pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2> (10,960</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;line-height: 150%;'><font size=2>See accompanying notes to condensed consolidated financial statements.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>4</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>GRAHAM PACKAGING HOLDINGS COMPANY</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>(Unaudited)</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;&nbsp;</font></p>


<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="99%" STYLE="border-collapse:collapse;" ALIGN="Center">
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="5" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Three Months Ended</font></b><br> <b><font size=1>March 31,</font></b></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt;  background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>2006</font></b></p> </td>
        <td width="2%" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>2005</font></b></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="5" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>(In thousands)</font></b></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Operating activities:</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='padding:0in .05in 0in 0in'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Net loss</font></p> </td>
        <td width="2%" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="15%" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(9,986</font></p> </td>
        <td width="2%" valign=bottom style='padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td>
        <td width="1%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="15%" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(11,537</font></p> </td>
        <td width="2%" valign=bottom style='padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='padding:0in .05in 0in 0in'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Adjustments to reconcile net loss to net cash provided by operating activities:</font></p> </td>
        <td width="2%" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0;padding: 0in .05in 0in 0in'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Depreciation and amortization</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>50,786</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>52,553</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='padding:0in .05in 0in 0in'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Amortization of debt issuance fees</font></p> </td>
        <td width="2%" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>2,636</font></p> </td>
        <td width="2%" valign=bottom style='padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>2,597</font></p> </td>
        <td width="2%" valign=bottom style='padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0;padding: 0in .05in 0in 0in'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Net loss on disposal of fixed assets</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>580</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>334</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='padding:0in .05in 0in 0in'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Impairment charges</font></p> </td>
        <td width="2%" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>&#151;</font></p> </td>
        <td width="2%" valign=bottom style='padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>1,605</font></p> </td>
        <td width="2%" valign=bottom style='padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0;padding: 0in .05in 0in 0in'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Stock compensation expense</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>6</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>102</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='padding:0in .05in 0in 0in'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Minority interest</font></p> </td>
        <td width="2%" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>&#151;</font></p> </td>
        <td width="2%" valign=bottom style='padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>544</font></p> </td>
        <td width="2%" valign=bottom style='padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0;padding: 0in .05in 0in 0in'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Foreign currency transaction (gain) loss</font>               </p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(468</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>386</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Interest receivable for ownership interests</font>    </p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(48</font></p> </td>
        <td width="2%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(45</font></p> </td>
        <td width="2%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Changes in operating assets and liabilities, net of acquisition of business:</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0;padding: 0in .05in 0in 0in'>
            <p style='margin-left:0in;text-indent:19.0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Accounts receivable</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(34,004</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(57,729</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:0in;text-indent:19.0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Inventories</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>14,860</font></p> </td>
        <td width="2%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>2,835</font></p> </td>
        <td width="2%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0;padding: 0in .05in 0in 0in'>
            <p style='margin-left:0in;text-indent:19.0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Prepaid expenses and other current assets</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>1,698</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>5,379</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:0in;text-indent:19.0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Other non-current assets and liabilities</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(5,603</font></p> </td>
        <td width="2%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>8,787</font></p> </td>
        <td width="2%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0;padding: 0in .05in 0in 0in'>
            <p style='margin-left:0in;text-indent:19.0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Accounts payable and accrued expenses</font>                                             </p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>86,615</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:5.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:5.0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>34,774</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Net cash provided by operating activities</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>107,072</font></p> </td>
        <td width="2%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>40,585</font></p> </td>
        <td width="2%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Investing activities:</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0;padding: 0in .05in 0in 0in'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Cash paid for property, plant and equipment</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(47,744</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(62,556</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Proceeds from sale of property, plant and equipment</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>371</font></p> </td>
        <td width="2%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>151</font></p> </td>
        <td width="2%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0;padding: 0in .05in 0in 0in'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Acquisition of/investment in business, net of cash acquired</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(30</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>)</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:3.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:3.0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(32,961</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Net cash used in investing activities</font>                                               </p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(47,403</font></p> </td>
        <td width="2%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(95,366</font></p> </td>
        <td width="2%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Financing activities:</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0;padding: 0in .05in 0in 0in'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Proceeds from issuance of long-term debt</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>133,671</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>268,776</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Payment of long-term debt</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(205,478</font></p> </td>
        <td width="2%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(219,279</font></p> </td>
        <td width="2%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0;padding: 0in .05in 0in 0in'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Debt issuance fees</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(31</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>)</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:5.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:5.0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(435</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Net cash (used in) provided by financing activities</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(71,838</font></p> </td>
        <td width="2%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>49,062</font></p> </td>
        <td width="2%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0;padding: 0in .05in 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Effect of exchange rate changes</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>365</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:10.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:10.0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(839</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Decrease in cash and cash equivalents</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(11,804</font></p> </td>
        <td width="2%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(6,558</font></p> </td>
        <td width="2%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0;padding: 0in .05in 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Cash and cash equivalents at beginning of period</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>26,684</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:8.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:8.0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>22,131</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=2>Cash and cash equivalents at end of period</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: double black 2.25pt;background: white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="15%" valign=bottom style='border-bottom: double black 2.25pt;background: white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>14,880</font></p> </td>
        <td width="2%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: double black 2.25pt;background: white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="15%" valign=bottom style='border-bottom: double black 2.25pt;background: white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>15,573</font></p> </td>
        <td width="2%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Supplemental disclosures</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0;padding: 0in .05in 0in 0in'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Cash paid for interest, net of amounts capitalized</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="15%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>21,940</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="15%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>16,655</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='padding:0in .05in 0in 0in'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Cash paid for taxes</font></p> </td>
        <td width="2%" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="15%" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>2,696</font></p> </td>
        <td width="2%" valign=bottom style='padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="15%" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>1,417</font></p> </td>
        <td width="2%" valign=bottom style='padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='padding:0in .05in 0in 0in'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Non-cash investing and financing activities:</font></p> </td>
        <td width="2%" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0;padding: 0in .05in 0in 0in'>
            <p style='margin-left:15.0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Return of purchase price related to the acquisition of O-I Plastic (see Note 10)</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="15%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>&#151;</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="15%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>38,900</font></p> </td>
        <td valign=top style='background:#AFFED0;padding:0in 0in 0in .7pt'>
            <p style='margin-left:15.0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='padding:0in .05in 0in 0in'>
            <p style='margin-left:15.0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15%" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>See accompanying notes to condensed consolidated financial statements.</font></p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>5</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>GRAHAM PACKAGING HOLDINGS COMPANY</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="3%" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>1.</font></b></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Basis of Presentation</font></b></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>The accompanying unaudited condensed consolidated financial statements of Graham Packaging Holdings Company (&#147;Holdings&#148;), a Pennsylvania limited partnership, have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X and therefore do not include all of the information and footnotes required by generally accepted accounting principles for complete annual financial statements. In the opinion of the management of the Company (&#147;Management&#148;), all adjustments (consisting only of usual recurring adjustments considered necessary for a fair presentation) are reflected in the condensed consolidated financial statements. The condensed consolidated balance sheet as of December 31, 2005 is derived from audited financial statements. The condensed consolidated
financial statements and notes included in this report should be read in conjunction with the audited consolidated financial statements and notes for the year ended December 31, 2005. The results of operations for the three months ended March 31, 2006 are not necessarily indicative of the results to be expected for the full year ending December 31, 2006. </font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>All entities and assets owned by Holdings are referred to collectively as the &#147;Company.&#148;  Graham Packaging Company, L.P. is referred to as the &#147;Operating Company.&#148;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><i><font size=2>Derivatives</font></i></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>During 2003, the Company entered into four interest rate swap agreements (three of which matured in the first quarter of 2006) under which the Company (for the remaining swap) receives variable interest based on the Eurodollar Rate (the applicable interest rate offered to banks in the London interbank eurocurrency market) and pays fixed interest at a weighted average rate of 2.80%, on $100.0 million of term loans. During 2004, the Company entered into four additional interest rate swap agreements, under which the Company receives variable interest based on the Eurodollar rate and pays fixed interest at a weighted average rate of 3.89%, on $700.0 million of term loans. During 2005, the Company entered into three additional interest rate swap agreements, under which the Company receives variable interest based on the Eurodollar rate and pays fixed interest at a weighted average rate of 4.43%,
on $225.0 million of term loans. The interest rate swaps are accounted for as cash flow hedges. The hedges are highly effective as defined in Statement of Financial Accounting Standards (&#147;SFAS&#148;) 133, &#147;Accounting for Derivative Instruments and Hedging Activities.&#148;  The effective portion of the cash flow hedges is recorded in other comprehensive income (&#147;OCI&#148;) and was an unrealized gain of $3.3 million and $9.7 million for the three months ended March 31, 2006 and 2005, respectively. Approximately 59% of the amount recorded within OCI as of March 31, 2006 is expected to be recognized in interest expense in the next twelve months. Failure to properly document the Company&#146;s interest rate swaps as effective hedges would result in income statement recognition of all or part of the cumulative $17.8 million unrealized gain recorded in accumulated OCI as of March 31, 2006.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><i><font size=2>Comprehensive Loss</font></i></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>Changes in fair value of derivatives designated and accounted for as cash flow hedges, additional minimum pension liability adjustments and foreign currency translation adjustments are included in OCI and added with net loss to determine total comprehensive loss.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>6</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>GRAHAM PACKAGING HOLDINGS COMPANY</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>The components of accumulated other comprehensive income (loss) consisted of:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Cash Flow</font></b><br> <b><font size=1> Hedges</font></b></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Additional</font></b><br> <b><font size=1> Minimum Pension</font></b><br> <b><font size=1> Liability</font></b></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Cumulative</font></b><br> <b><font size=1>Translation</font></b><br> <b><font size=1> Adjustments</font></b></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Total</font></b></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="11" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>(In thousands)</font></b></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Balance at January 1, 2005</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="90" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>3,385</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="90" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:39.75pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2> (4,275</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in 1.45pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="90" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>20,798</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in 1.45pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="90" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>19,908</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in 1.45pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Change</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="90" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>11,129</font></p> </td>
        <td width="15" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="90" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(1,060</font></p> </td>
        <td width="15" valign=bottom style='background:white;padding:0in 0in 0in 1.45pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>)</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="90" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(17,126</font></p> </td>
        <td width="15" valign=bottom style='background:white;padding:0in 0in 0in 1.45pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>)</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="90" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:40.5pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2> (7,057</font></p> </td>
        <td width="15" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="90" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="90" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white;padding:0in 0in 0in 1.45pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="90" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white;padding:0in 0in 0in 1.45pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="90" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Balance at December 31, 2005</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="90" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>14,514</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="90" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(5,335</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in 1.45pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="90" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>3,672</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in 1.45pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="90" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>12,851</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:8.65pt;text-indent:1.35pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Change</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="90" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>3,291</font></p> </td>
        <td width="15" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="90" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>5</font></p> </td>
        <td width="15" valign=bottom style='background:white;padding:0in 0in 0in 1.45pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="90" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>2,262</font></p> </td>
        <td width="15" valign=bottom style='background:white;padding:0in 0in 0in 1.45pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="90" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>5,558</font></p> </td>
        <td width="15" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="90" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="90" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white;padding:0in 0in 0in 1.45pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="90" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white;padding:0in 0in 0in 1.45pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="90" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=2>Balance at March 31, 2006</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="90" valign=bottom style='border-bottom: double black 2.25pt;background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>17,805</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="90" valign=bottom style='border-bottom: double black 2.25pt;background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(5,330</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in 1.45pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=2>)</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="90" valign=bottom style='border-bottom: double black 2.25pt;background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>5,934</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in 1.45pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="90" valign=bottom style='border-bottom: double black 2.25pt;background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>18,409</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><i><font size=2>Option Plans</font></i></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>In December 2004, the Financial Accounting Standards Board (&#147;FASB&#148;) issued SFAS 123(R), &#147;Share-Based Payment.&#148; SFAS 123(R) revises SFAS 123, &#147;Accounting for Stock-Based Compensation,&#148; and requires companies to expense the fair value of employee stock options and other forms of stock-based compensation. Under SFAS 123(R), companies are to (1) use fair value to measure stock-based compensation awards and (2) cease using the &#147;intrinsic value&#148; method of accounting, which Accounting Principles Board Opinion (&#147;APB&#148;) 25, &#147;Accounting for Stock Issued to Employees,&#148; allowed and resulted in no expense for many awards of stock options for which the exercise price of the option equaled the price of the underlying stock at the grant date. In addition, SFAS 123(R) retains the modified grant date model from SFAS 123. Under that model, compensation
cost is measured at the fair value of an award on the grant date and adjusted to reflect estimated forfeitures and the outcome of certain conditions. The fair value of an award is not re-measured after its initial estimation on the grant date (except in the case of a liability award or if the award is modified). The Company adopted SFAS 123(R) on January 1, 2006 using the prospective method.  In accordance with SFAS 123(R), the Company applied this statement prospectively to new awards and awards modified, repurchased or cancelled after January 1, 2006.  The adoption of SFAS 123(R) has not had a significant impact on the Company&#146;s results of operations or financial position.</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>The Company continued to account for equity based compensation to employees for awards outstanding as of January 1, 2006 using the intrinsic value method prescribed in APB 25.  SFAS 123 established accounting and disclosure requirements using a fair value based method of accounting for equity based employee compensation plans. The exercise prices of all units were equal to or greater than the fair market value of the units on the dates of the grants and, accordingly, no compensation cost has been recognized under the provisions of APB 25. Under SFAS 123, compensation cost is measured at the grant date based on the value of the award and is recognized over the service (or vesting) period. Had compensation cost for all option plans been determined under SFAS 123, based on the fair market value at the grant dates, the Company&#146;s pro forma net loss for the three months ended March 31, 2006
and 2005 would have been reflected as follows:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="60%" STYLE="margin-left:0.25pt; border-collapse:collapse;" ALIGN="Center">
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="5" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Three Months Ended</font></b><br> <b><font size=1>March 31,</font></b></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt;  background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>2006</font></b></p> </td>
        <td width="3%" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>2005</font></b></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="5" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>(In thousands)</font></b></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>As reported</font></p> </td>
        <td width="4%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="21%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>(9,986</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="21%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>(11,537</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Pro forma </font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="21%" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>(10,285</font></p> </td>
        <td width="3%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:17.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="21%" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:17.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>(11,839</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>There were no options granted during the three months ended March 31, 2006.  The weighted average fair value at date of grant for options granted during the three months ended March 31, 2005 was $7,748 per option.  The fair value of each option is estimated on the date of the grant using the Minimum Value option pricing model with the following weighted-average assumptions:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>7</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>GRAHAM PACKAGING HOLDINGS COMPANY</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.69%;text-align:left;'>
</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="60%" style='margin-left:60.25pt;border-collapse:collapse'>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="26%" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="5%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align: center;margin-top:2pt;margin-bottom:0pt'><b><font size=1>Three Months Ended</font></b><br> <b><font size=1>March 31, 2005</font></b></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0.5pt'><font size=2>Dividend yield</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="26%" valign=bottom style='background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>0</font></p> </td>
        <td width="5%" valign=bottom style='border-top:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=2>%</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0.5pt'><font size=2>Expected volatility</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="26%" valign=bottom style='background:white; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>0</font></p> </td>
        <td width="5%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=2>%</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0.5pt'><font size=2>Risk free interest rate</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="26%" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>3.65</font></p> </td>
        <td width="5%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=2>%</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0.5pt'><font size=2>Expected option life (in years)</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="26%" valign=bottom style='background:white; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>4.5</font></p> </td>
        <td width="5%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0.5pt'><font size=2>Forfeiture rate</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="26%" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font SIZE=2>N/A</font></p> </td>
        <td width="5%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>A summary of the changes in the option units outstanding under the option plans as of March 31, 2006 is as follows:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="97%" style='border-collapse:collapse'>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:2pt;margin-bottom:0pt'><b><font size=1>Units</font></b><br> <b><font size=1>Under</font></b><br> <b><font size=1>Option</font></b></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:2pt;margin-bottom:0pt'><b><font size=1>Weighted</font></b><br> <b><font size=1>Average</font></b><br> <b><font size=1>Exercise</font></b><br> <b><font size=1>Price</font></b></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:2pt;margin-bottom:0pt'><b><font size=1>Weighted</font></b><br> <b><font size=1>Average</font></b><br> <b><font size=1>Remaining</font></b><br> <b><font size=1>Contractual Term</font></b><br> <b><font size=1>(in years)</font></b></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:2pt;margin-bottom:0pt'><b><font size=1>Aggregate</font></b><br> <b><font size=1>Intrinsic Value</font></b><br> <b><font size=1>(in millions)</font></b></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0.5pt'><font size=2>Outstanding at January 1, 2006</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>1,228.0</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="8%" valign=bottom style='border-top:solid black 1.0pt; background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>38,861</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='border-top:solid black 1.0pt; background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0.5pt'><font size=2>Granted</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>&#151;</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:white;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>&#151;</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0.5pt'><font size=2>Exercised</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>&#151;</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>&#151;</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Forfeited</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>&#151;</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:white;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.0pt;margin-bottom:0pt'><font size=2>&#151;</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=2>Outstanding at March 31, 2006</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>1,228.0</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.5pt;margin-bottom:0pt'><font size=2>38,861</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.5pt;margin-bottom:0pt'><font size=2>5.9</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.5pt;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.5pt;margin-bottom:0pt'><font size=2>18.5</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:white;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0.5pt'><font size=2>Exercisable at March 31, 2006</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>648.8</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:white;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>32,166</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>4.2</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font SIZE=2>N/A</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.69%;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><i><font size=2>Inventory Cost</font></i></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>In November 2004, the FASB issued SFAS 151, &#147;Inventory Costs &#150; an amendment of APB No. 43, Chapter 4,&#148; which is the result of its efforts to converge U.S. accounting standards for inventories with International Accounting Standards. SFAS 151 requires abnormal amounts of idle facility expense, freight, handling costs and wasted material (spoilage) to be recognized as current-period charges. It also requires that allocation of fixed production overheads to the costs of conversion be based on the normal capacity of the production facilities.  The Company adopted SFAS 151 on January 1, 2006 and the adoption of SFAS 151 has not had a significant impact on its results of operations or financial position.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><i><font size=2>Retirement Obligations</font></i></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>In March 2005, the FASB issued FASB Interpretation No. (&#147;FIN&#148;) 47, &#147;Accounting for Conditional Asset Retirement Obligations, an Interpretation of FASB No. 143.&#148;  This statement clarifies that an entity is required to recognize a liability for the fair value of a conditional asset retirement obligation when incurred, if the liability&#146;s fair value can be reasonably estimated.  The Company adopted FIN 47 on December 31, 2005 and the adoption of FIN 47 has not had a significant impact on its results of operations or financial position.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><i><font size=2>Reclassifications</font></i></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>Certain reclassifications have been made to the 2005 financial statements to conform to the 2006 presentation, including a reclassification reducing the outflow for changes in accounts receivable and reducing the inflow for changes in prepaid expenses and other current assets by $1.7 million on the March 31, 2005 Condensed Consolidated Statement of Cash Flows and a reclassification increasing cost of goods sold and decreasing selling, general and administrative expenses by $1.1 million on the March 31, 2005 Condensed Consolidated Statement of Operations.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>8</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>GRAHAM PACKAGING HOLDINGS COMPANY</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="3%" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>2.</font></b></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Debt Arrangements</font></b></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>Long-term debt consisted of the following:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="85%" STYLE="border-collapse:collapse;" ALIGN="Center">
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>March 31,</font></b><br> <b><font size=1>2006</font></b></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>December 31,</font></b><br> <b><font size=1>2005</font></b></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="5" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>(In thousands)</font></b></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Term loans</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="99" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>1,781,875</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="94" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>1,785,500</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Revolving Credit Facility</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="99" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>125,000</font></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="94" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>187,500</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Foreign and other revolving credit facilities</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="99" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>3,241</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="94" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>7,472</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Senior Notes</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="99" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>250,000</font></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="94" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>250,000</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Senior Subordinated Notes</font>                                                </p> </td>
        <td width="15" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="99" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>375,000</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="94" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>375,000</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Capital leases</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="99" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>29,968</font></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="94" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>31,605</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Other</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="99" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>1,666</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="94" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>1,263</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="99" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>2,566,750</font></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="94" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>2,638,340</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Less amounts classified as current</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="99" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>23,275</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="94" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>27,859</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:double black 2.25pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="99" valign=bottom style='border-bottom: double black 2.25pt;background: white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>2,543,475</font></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="94" valign=bottom style='border-bottom: double black 2.25pt;background: white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>2,610,481</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>In connection with the acquisition of the blow molded plastic container business of Owens-Illinois, Inc. (&#147;O-I Plastic&#148;) (see Note 10) on October 7, 2004, the Operating Company, Holdings, GPC Capital Corp. I (&#147;CapCo I&#148;) and a syndicate of lenders entered into a first-lien credit agreement (the &#147;Credit Agreement&#148;) and a second-lien credit agreement (the &#147;Second-Lien Credit Agreement&#148; and, together with the Credit Agreement, the &#147;Credit Agreements&#148;). Pursuant to its terms, on April 18, 2006, the Credit Agreement was amended in order to, among other things, increase the B Term Loan facility provided under the Credit Agreement by $150.0 million.  Proceeds of the Amendment were used to pay down $100.0 million of the Second-Lien Credit Agreement, with the remaining $50.0 million being used to reduce outstanding borrowings on the existing revolving
credit facility provided for under the Credit Agreement.  After giving effect to the April 18, 2006 Second Amendment to the Credit Agreement, the Credit Agreements consist of a senior secured term loan B to the Operating Company totaling $1,581.9 million, a second-lien term loan totaling $250.0 million (the &#147;Term Loans&#148; or &#147;Term Loan Facilities&#148;) and a $250.0 million revolving credit facility (the &#147;Revolving Credit Facility&#148;). The obligations of the Operating Company and CapCo I under the Credit Agreements are guaranteed by Holdings and certain other subsidiaries of Holdings.  After giving effect to the April 18, 2006 Second Amendment to the Credit Agreement, the term loan B is payable in quarterly installments and requires payments of $15.6 million in 2006 and $16.0 million in each of 2007, 2008, 2009 and 2010 and $1,505.8 million in 2011. The second-lien term loan is payable in 2012. The Revolving Credit Facility expires on October 7, 2010. Interest on
the Credit Agreement is payable at (a) the &#147;Alternate Base Rate&#148; (&#147;ABR&#148;) (the higher of the Prime Rate or the Federal Funds Rate plus 0.50%) plus a margin ranging from 1.25% to 1.75%; or (b) the &#147;Eurodollar Rate&#148; (the applicable interest rate offered to banks in the London interbank eurocurrency market) plus a margin ranging from 2.00% to 2.75%. A commitment fee of 0.50% is due on the unused portion of the revolving loan commitment. Interest on the Second-Lien Credit Agreement is payable at (a) the ABR plus a margin of 3.25%; or (b) the &#147;Eurodollar Rate&#148; plus a margin of 4.25%. In addition, the Credit Agreements contain certain affirmative and negative covenants as to the operations and financial condition of the Company, as well as certain restrictions on the payment of dividends and other distributions to Holdings. As of March 31, 2006, the Company was in compliance with all covenants. The unused availability of the Revolving Credit Facility
at March 31, 2006 was $115.4 million (as reduced by $9.6 million of outstanding letters of credit and before giving effect to the April 18, 2006 Second Amendment to the Credit Agreement). </font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>Substantially all domestic tangible and intangible assets of the Company are pledged as collateral pursuant to the terms of the Credit Agreements.</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>The acquisition of O-I Plastic and the related refinancing of the indebtedness of the Company also included the issuance of $250.0 million in Senior Notes of the Operating Company and $375.0 million in Senior Subordinated Notes of the Operating Company (collectively &#147;the Notes&#148;). The Notes are unconditionally guaranteed, jointly and severally, by Holdings and domestic subsidiaries of the Operating Company and mature on October 7, 2012 (Senior Notes) and October 7, 2014 (Senior Subordinated Notes). Interest on the Senior Notes is payable semi-annually at 8.50% and interest on the Senior Subordinated Notes is payable semi-annually at 9.875%.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>9</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>GRAHAM PACKAGING HOLDINGS COMPANY</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="3%" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>3.</font></b></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Accounts Receivable, Net</font></b></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>The Company had sales to one customer which exceeded 10% of total sales for the three months ended March 31, 2006 and 2005.  The Company&#146;s sales to this customer were 18.1% and 19.3% of total sales for the three months ended March 31, 2006 and 2005, respectively.  For the three months ended March 31, 2006 and 2005, approximately 100% and 98%, respectively, of the sales to this customer were made in North America.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="3%" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>4.</font></b></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Inventories</font></b></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>Inventories consisted of the following:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="80%" STYLE="border-collapse:collapse;" ALIGN="Center">
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="18" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>March 31,</font></b><br> <b><font size=1>2006</font></b></p> </td>
        <td width="18" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>December 31,</font></b><br> <b><font size=1>2005</font></b></p> </td>
        <td width="18" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="18" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="5" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>(In thousands)</font></b></p> </td>
        <td width="18" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Finished goods</font></p> </td>
        <td width="18" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="113" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>186,512</font></p> </td>
        <td width="18" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="113" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>195,533</font></p> </td>
        <td width="18" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Raw materials and parts</font></p> </td>
        <td width="18" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="113" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>86,609</font></p> </td>
        <td width="18" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="113" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>92,277</font></p> </td>
        <td width="18" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="18" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="113" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>273,121</font></p> </td>
        <td width="18" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="113" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>287,810</font></p> </td>
        <td width="18" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="3%" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>5.</font></b></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Impairment Charges</font></b></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>In 2005, due to a change in the ability to utilize certain assets in the U.S., the Company evaluated the recoverability of these assets. For these assets to be held and used, the Company determined that the undiscounted cash flows were below the carrying value of these long-lived assets. Accordingly, the Company adjusted the carrying values of these long-lived assets to their estimated fair values in accordance with SFAS 144, &#147;Accounting for the Impairment or Disposal of Long-Lived Assets,&#148; resulting in impairment charges of $1.6 million for the three months ended March 31, 2005.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="3%" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>6.</font></b></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Intangible Assets, Net</font></b></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>The gross carrying amount and accumulated amortization of the Company&#146;s intangible assets subject to amortization as of March 31, 2006 were as follows:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="98%" style='border-collapse:collapse'>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Gross Carrying</font></b><br> <b><font size=1>Amount</font></b></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Accumulated</font></b><br> <b><font size=1>Amortization</font></b></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Net</font></b></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="93" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Amortization</font></b><br> <b><font size=1>period</font></b></p> </td>
        <td width="18" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="8" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>(Amounts in thousands)</font></b></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="93" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="18" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Patented technology</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="73" valign=bottom style='background:#AFFED0;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>23,354</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="86" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(3,334</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="71" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>20,020</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="93" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>9 to 13.5 years</font></p> </td>
        <td width="18" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Customer relationships</font></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="73" valign=bottom style='background:white;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>38,204</font></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="86" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(3,326</font></p> </td>
        <td width="13" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="71" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>34,878</font></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="93" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>3.75 to 20 years</font></p> </td>
        <td width="18" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Licensing agreements</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="73" valign=bottom style='background:#AFFED0;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>28,000</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="86" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(3,818</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="71" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>24,182</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="93" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>11 years</font></p> </td>
        <td width="18" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Non-compete agreement</font></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:10.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="73" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:10.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>1,500</font></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:13.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="86" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:13.0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(450</font></p> </td>
        <td width="13" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>)</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:10.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="71" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:10.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>1,050</font></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="93" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=2>5 years</font></p> </td>
        <td width="18" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=2>Total</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="73" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>91,058</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="86" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>(10,928</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=2>)</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="71" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>80,130</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="93" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="18" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.69%;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>The gross carrying amount and accumulated amortization of the Company&#146;s intangible assets subject to amortization as of December 31, 2005 were as follows:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.69%;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>10</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>GRAHAM PACKAGING HOLDINGS COMPANY</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.69%;text-align:left;'>
</p>


<table border="0" cellspacing=0 cellpadding=0 width="98%" style='border-collapse:collapse'>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Gross Carrying</font></b><br> <b><font size=1>Amount</font></b></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Accumulated</font></b><br> <b><font size=1>Amortization</font></b></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Net</font></b></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="93" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Amortization</font></b><br> <b><font size=1>period</font></b></p> </td>
        <td width="18" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="8" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>(Amounts in thousands)</font></b></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="93" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="18" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Patented technology</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="73" valign=bottom style='background:#AFFED0;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>23,169</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="86" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(2,822</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="71" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>20,347</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="93" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>9 to 13.5 years</font></p> </td>
        <td width="18" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Customer relationships</font></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="73" valign=bottom style='background:white;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>38,130</font></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="86" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(2,787</font></p> </td>
        <td width="13" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="71" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>35,343</font></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="93" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>3.75 to 20 years</font></p> </td>
        <td width="18" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Licensing agreements</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="73" valign=bottom style='background:#AFFED0;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>28,000</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="86" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(3,182</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="71" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>24,818</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="93" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>11 years</font></p> </td>
        <td width="18" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Non-compete agreement</font></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:10.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="73" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:10.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>1,500</font></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:13.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="86" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:13.0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(375</font></p> </td>
        <td width="13" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>)</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:10.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="71" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:10.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>1,125</font></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="93" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=2>5 years</font></p> </td>
        <td width="18" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=2>Total</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="73" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>90,799</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="86" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:39.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2> (9,166</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=2>)</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="71" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>81,633</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="93" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="18" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.69%;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>Amortization expense for the three months ended March 31, 2006 and 2005 was $1.8 million and $1.7 million, respectively.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="3%" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>7.</font></b></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Goodwill</font></b></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>The changes in the carrying amount of goodwill were as follows:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>North</font></b><br> <b><font size=1>America</font></b><br> <b><font size=1>Segment</font></b></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Europe</font></b><br> <b><font size=1>Segment</font></b></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>South</font></b><br> <b><font size=1>America</font></b><br> <b><font size=1>Segment</font></b></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Total</font></b></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="11" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>(In thousands)</font></b></p> </td>
        <td width="13" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Balance at December 31, 2005</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="62" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>288,158</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="62" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>17,278</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="62" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>11,735</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="62" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>317,171</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Foreign currency translation and other adjustments</font></p> </td>
        <td width="13" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:26.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="62" valign=bottom style='border-bottom: solid black 1.0pt; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(676</font></p> </td>
        <td width="13" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>)</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:8.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="62" valign=bottom style='border-bottom: solid black 1.0pt; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>180</font></p> </td>
        <td width="13" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:31.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="62" valign=bottom style='border-bottom: solid black 1.0pt; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>61</font></p> </td>
        <td width="13" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:10.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="62" valign=bottom style='border-bottom: solid black 1.0pt; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(435</font></p> </td>
        <td width="13" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=2>Balance at March 31, 2006</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="62" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>287,482</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="62" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>17,458</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="62" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>11,796</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="62" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>316,736</font></p> </td>
        <td width="13" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.69%;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.69%;text-align:justify;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="3%" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>8.</font></b></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Accrued Expenses</font></b></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>Accrued expenses consisted of the following:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="85%" style='border-collapse:collapse'>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>March 31, </font></b><br> <b><font size=1>2006</font></b></p> </td>
        <td width="16" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>December 31, </font></b><br> <b><font size=1>2005</font></b></p> </td>
        <td width="16" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="5" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>(In thousands)</font></b></p> </td>
        <td width="16" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Accrued employee compensation and benefits</font></p> </td>
        <td width="16" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="97" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>62,251</font></p> </td>
        <td width="16" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="97" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>60,748</font></p> </td>
        <td width="16" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Accrued interest</font>       </p> </td>
        <td width="16" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="97" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>46,174</font></p> </td>
        <td width="16" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="97" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>20,281</font></p> </td>
        <td width="16" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Accrued sales allowance</font></p> </td>
        <td width="16" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="97" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>27,094</font></p> </td>
        <td width="16" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="97" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>18,774</font></p> </td>
        <td width="16" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Other</font></p> </td>
        <td width="16" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:10.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="97" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:10.0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>81,351</font></p> </td>
        <td width="16" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:10.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="97" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:10.0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>76,629</font></p> </td>
        <td width="16" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:double black 2.25pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="97" valign=bottom style='border-bottom: double black 2.25pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>216,870</font></p> </td>
        <td width="16" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="97" valign=bottom style='border-bottom: double black 2.25pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>176,432</font></p> </td>
        <td width="16" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>For the year ended December 31, 2005, the Company incurred costs of employee termination benefits in the United States of $2.3 million, which included the legal liability of severing 16 employees, all of which were terminated as of March 31, 2006.  Substantially all of the cash payments for these termination benefits are expected to be made by December 31, 2007.  For the year ended December 31, 2005, the Company incurred costs of employee termination benefits in France of $3.8 million, which included the legal liability of severing 35 employees, none of which were terminated as of March 31, 2006.  Substantially all of the cash payments for these termination benefits are expected to be made by December 31, 2006.</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>The following table reflects a rollforward of these costs, primarily included in accrued employee compensation and benefits (in thousands):</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>11</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>GRAHAM PACKAGING HOLDINGS COMPANY</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
</p>


<table border="0" cellspacing=0 cellpadding=0 width="88%" style='border-collapse:collapse'>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:2pt;margin-bottom:0pt'><b><font size=1>2002/2003</font></b><br> <b><font size=1>France</font></b><br> <b><font size=1>Reduction</font></b><br> <b><font size=1>in Force</font></b></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:2pt;margin-bottom:0pt'><b><font size=1>2003</font></b><br> <b><font size=1>North</font></b><br> <b><font size=1>America</font></b><br> <b><font size=1>Reduction</font></b><br> <b><font size=1>in Force</font></b></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:2pt;margin-bottom:0pt'><b><font size=1>2005</font></b><br> <b><font size=1>United States</font></b><br> <b><font size=1>Reduction</font></b><br> <b><font size=1> in Force</font></b></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:2pt;margin-bottom:0pt'><br> <b><font size=1>2005</font></b><br> <b><font size=1>France</font></b><br> <b><font size=1>Reduction</font></b><br> <b><font size=1>in Force</font></b></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:2pt;margin-bottom:0pt'><br> <br> <br> <b><font size=1>Total</font></b></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0.5pt'><font size=2>Reserves at December 31, 2005</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="60" valign=bottom style='border-top:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>399</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="60" valign=bottom style='border-top:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>472</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="60" valign=bottom style='border-top:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>1,571</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="60" valign=bottom style='border-top:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>3,845</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="60" valign=bottom style='border-top:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>6,287</font></p> </td>
        <td width="10" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0.5pt'><font size=2>Increase in reserves</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="60" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>52</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="60" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="60" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>101</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="60" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="60" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>153</font></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Cash payments</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:8.0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="60" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:8.0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>(3</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>)</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:.25in;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="60" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:.25in;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>(53</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>)</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:13.0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="60" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:13.0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>(332</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>)</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:3.0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="60" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:3.0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>(108</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>)</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:3.0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="60" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:3.0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>(496</font></p> </td>
        <td width="10" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=2>Reserves at March 31, 2006</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="60" valign=bottom style='border-bottom: double black 2.25pt;background: white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>448</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="60" valign=bottom style='border-bottom: double black 2.25pt;background: white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>419</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="60" valign=bottom style='border-bottom: double black 2.25pt;background: white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>1,340</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="60" valign=bottom style='border-bottom: double black 2.25pt;background: white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>3,737</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="60" valign=bottom style='border-bottom: double black 2.25pt;background: white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>5,944</font></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="3%" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>9.</font></b></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Income Taxes</font></b></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>Holdings and the Operating Company, as limited partnerships, do not pay U.S. federal income taxes under the provisions of the Internal Revenue Code, as the applicable income or loss is included in the tax returns of the partners. However, certain U.S. subsidiaries acquired as part of O-I Plastic are corporations and are subject to U.S. federal and state income taxes. The Company&#146;s foreign operations are subject to tax in their local jurisdictions. Deferred income tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and are measured using enacted tax rates expected to apply to taxable income in the years in which the temporary differences are expected to reverse.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="3%" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>10.</font></b></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Acquisitions</font></b></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><i><font size=2>Purchase of O-I Plastic</font></i></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>On October 7, 2004, the Company acquired O-I Plastic. With this acquisition the Company essentially doubled in size. </font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>The Company acquired O-I Plastic for a total purchase price (including acquisition-related costs) of $1,191.8 million. The acquisition was recorded under the purchase method of accounting and, accordingly, the results of the acquired operation are included in the financial statements of the Company beginning on October 7, 2004. The purchase price has been allocated to assets acquired and liabilities assumed based on fair values. The allocated fair value of assets acquired and liabilities assumed is summarized as follows (in thousands): </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.69%;text-align:justify;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="70%" style='margin-left:.5in;border-collapse:collapse'>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Cash</font></p> </td>
        <td width="12" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="131" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>10,860</font></p> </td>
        <td width="23" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Accounts receivable</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="131" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>130,023</font></p> </td>
        <td width="23" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Inventories</font></p> </td>
        <td width="12" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="131" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>140,771</font></p> </td>
        <td width="23" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Deferred income taxes</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="131" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>11,402</font></p> </td>
        <td width="23" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Prepaid expenses and other current assets</font></p> </td>
        <td width="12" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:.25in;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="131" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:.25in;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>11,312</font></p> </td>
        <td width="23" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Total current assets</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="131" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>304,368</font></p> </td>
        <td width="23" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Property, plant and equipment</font></p> </td>
        <td width="12" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="131" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>679,303</font></p> </td>
        <td width="23" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Intangible assets</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="131" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>81,000</font></p> </td>
        <td width="23" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Goodwill</font></p> </td>
        <td width="12" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="131" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>294,728</font></p> </td>
        <td width="23" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Other non-current assets</font></p> </td>
        <td width="12" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:23.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="131" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:23.0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>6,212</font></p> </td>
        <td width="23" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="131" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="23" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Total</font></p> </td>
        <td width="12" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="131" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>1,365,611</font></p> </td>
        <td width="23" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Less liabilities assumed</font></p> </td>
        <td width="12" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:13.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="131" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:13.0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>173,836</font></p> </td>
        <td width="23" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="131" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="23" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=2>Net cost of acquisition</font></p> </td>
        <td width="12" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="131" valign=bottom style='border-bottom: double black 2.25pt;background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>1,191,775</font></p> </td>
        <td width="23" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.69%;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>The purchase agreement related to O-I Plastic contains a stated purchase price of $1,200.0 million, which was paid on October 7, 2004, subject to adjustments based on the level of working capital acquired, indebtedness assumed and certain other measures. The Company and the sellers resolved these adjustments to the purchase price </font></p>

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>12</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>GRAHAM PACKAGING HOLDINGS COMPANY</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>in April 2005, resulting in a return to the Company of $38.9 million. In addition, the purchase agreement provides information on certain net operating loss carryforwards for U.S. federal income tax purposes (&#147;NOL&#146;s&#148;) that are allocated from the sellers to O-I Plastic. The amount of such NOL&#146;s (including the amount allocated from the sellers to O-I Plastic on the sellers&#146; 2004 federal income tax return) was $157.5 million.  A deferred income tax benefit of $61.8 million related to the NOL&#146;s has been included in the purchase price allocation above.  </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><i><font size=2>Purchase of Certain Tetra-Pak Operations</font></i></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>On March 24, 2005, the Company acquired certain operations from Tetra-Pak Inc., Tetra Pak Moulded Packaging Systems Limited, Tetra Pak S.R.L., Tetra Pak MPS N.V., Tetra Pak LTDA and Tetra Pak Paketleme Sanayi Ve Ticaret A.S. for a total purchase price (including acquisition-related costs) of $36.8 million. The acquisition was recorded under the purchase method of accounting and, accordingly, the results of the acquired operation are included in the financial statements of the Company beginning on March 24, 2005. The purchase price has been allocated to assets acquired and liabilities assumed based on fair values. The allocated fair value of assets acquired and liabilities assumed is summarized as follows (in thousands):&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.69%;text-align:justify;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="65%" style='margin-left:.5in;border-collapse:collapse'>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Accounts receivable</font></p> </td>
        <td width="23" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="131" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>2,916</font></p> </td>
        <td width="23" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Inventories</font></p> </td>
        <td width="23" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom >
            <p style='margin-left:0pt;text-indent:.25in;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="131" valign=bottom >
            <p style='margin-left:0in;text-indent:.25in;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>915</font></p> </td>
        <td width="23" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Prepaid expenses and other current assets</font></p> </td>
        <td width="23" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="131" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>64</font></p> </td>
        <td width="23" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Total current assets</font></p> </td>
        <td width="23" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="131" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>3,895</font></p> </td>
        <td width="23" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Property, plant and equipment</font></p> </td>
        <td width="23" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="131" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>26,023</font></p> </td>
        <td width="23" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Intangible assets</font></p> </td>
        <td width="23" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom >
            <p style='margin-left:0pt;text-indent:5.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="131" valign=bottom >
            <p style='margin-left:0in;text-indent:5.0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>3,980</font></p> </td>
        <td width="23" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Goodwill</font></p> </td>
        <td width="23" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:5.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="131" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:5.0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>4,676</font></p> </td>
        <td width="23" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="23" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="131" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="23" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Total</font></p> </td>
        <td width="23" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="131" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>38,574</font></p> </td>
        <td width="23" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Less liabilities assumed</font></p> </td>
        <td width="23" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:.25in;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="131" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:.25in;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>1,764</font></p> </td>
        <td width="23" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="23" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="131" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="23" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=2>Net cost of acquisition</font></p> </td>
        <td width="23" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='border-bottom:double black 2.25pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="131" valign=bottom style='border-bottom: double black 2.25pt'>
            <p style='margin-left:0in;text-indent:3.0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>36,810</font></p> </td>
        <td width="23" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><i><font size=2>Pro Forma Information</font></i></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>The following table sets forth unaudited pro forma results of operations, assuming that all of the above acquisitions had taken place at the beginning of each period presented:&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="55%" STYLE="border-collapse:collapse;" ALIGN="Center">
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="5" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Three Months Ended</font></b><br> <b><font size=1>March 31,</font></b></p> </td>
        <td width="3%" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt;  background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>2006</font></b></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>2005</font></b></p> </td>
        <td width="3%" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="5" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>(In millions)</font></b></p> </td>
        <td width="3%" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>As reported &#150; net sales</font></p> </td>
        <td width="4%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="18%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>645</font></p> </td>
        <td width="4%" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="18%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>621</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Pro forma &#150; net sales </font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="18%" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>645</font></p> </td>
        <td width="4%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="18%" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>626</font></p> </td>
        <td width="3%" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="18%" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="18%" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="3%" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>As reported &#150; net loss</font></p> </td>
        <td width="4%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="18%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(10</font></p> </td>
        <td width="4%" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="18%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(12</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Pro forma &#150; net loss</font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="18%" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(10</font></p> </td>
        <td width="4%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="18%" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(10</font></p> </td>
        <td width="3%" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2> </font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>These unaudited pro forma results have been prepared for comparative purposes only and include certain adjustments, such as adjustments to depreciation and amortization expense as a result of adjustments in the basis of fixed assets and intangible assets, increased interest expense on acquisition debt and related tax effects. They do not purport to be indicative of the results of operations which actually would have resulted had the combinations been in effect at the beginning of each period presented, or of future results of operations of the entities.</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>In March 2005, the Company executed a Purchase and Sale of Equity Interest and Joint Venture Termination Agreement under which the Company terminated the joint venture agreement with Industrias Innopack, S.A. de C.V. and acquired all of the equity interests held by Industrias Innopack, S.A. de C.V. in Graham Innopack de Mexico, S. de R.L. de C.V. (&#147;Graham Innopack&#148;) and the operating companies thereunder.  Closing of this transaction occurred on May 9, 2005, resulting in a payment by the Company of $13.9 million for the 49% interest in Graham Innopack that it did not previously own.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>13</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>GRAHAM PACKAGING HOLDINGS COMPANY</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
</p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="3%" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>11.</font></b></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Lease Commitments </font></b></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>The Company is a party to various leases involving real property and equipment. Total rent expense for operating leases amounted to $13.6 million and $12.5 million for the three months ended March 31, 2006 and 2005, respectively.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="3%" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>12.</font></b></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Contingencies</font></b></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>The Company is party to various litigation matters arising in the ordinary course of business. The ultimate legal and financial liability of the Company with respect to such litigation cannot be estimated with certainty, but management believes, based on its examination of these matters, experience to date and discussions with counsel, that ultimate liability from the Company&#146;s various litigation matters will not be material to the business, financial condition, results of operations or cash flows of the Company.</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>On July 9, 2002, the Company and Graham Engineering Corporation (&#147;Graham Engineering&#148;), an affiliated company, executed a First Amendment to the equipment sales, services and license agreement (the &#147;Equipment Sales Agreement&#148;) to, among other things, (i) permit the Company to purchase certain wheels from a third party under certain circumstances if Graham Engineering is provided the opportunity to bid on supplying the same equipment; (ii) clarify that the Company&#146;s exclusivity rights under the Equipment Sales Agreement do not apply to certain new generations of Graham Engineering equipment; (iii) in the event of the sale of Graham Engineering to a competitor, provide the Company the option to require the transfer of the existing agreement or obtain a perpetual, royalty-free license to make and use wheel equipment and components; (iv) provide Graham Engineering with
the ability to terminate the Equipment Sales Agreement if an arbitrator determines that the Company has purchased certain high output extrusion blow molding equipment from another supplier in breach of the Equipment Sales Agreement, as amended; and (v) obligate the Company, retroactive to January 1, 2002, and subject to certain credits and carry-forwards, to make payments for products and services to Graham Engineering in the amount of at least $12.0 million per calendar year, or else pay to Graham Engineering a shortfall payment.  The Company does not expect to be required to make a shortfall payment relative to its purchases for 2006.</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>Subsequently, on January 13, 2004, the parties executed a Second Amendment to the Equipment Sales Agreement.  Such amendment removed restrictions originally placed upon the Company with respect to the Company&#146;s use of Graham Engineering technology to manufacture containers at blow molding plants co-located with dairies or dairy-focused facilities.</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>The Equipment Sales Agreement terminates on December 31, 2007, unless mutually extended by the parties.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="3%" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>13.</font></b></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Condensed Guarantor Data</font></b></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>On October 7, 2004, the Operating Company and CapCo I co-issued $250.0 million aggregate principal amount of 8&#189;% Senior Notes due 2012 and $375.0 million aggregate principal amount of 9?% Senior Subordinated Notes due 2014. The notes were issued under Indentures issued on October 7, 2004. Holdings and domestic subsidiaries of the Operating Company have fully and unconditionally guaranteed these notes. These guaranties are both joint and several. Both the Operating Company and CapCo I are 100%-owned subsidiaries of Holdings. </font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>The following unaudited condensed consolidating financial statements present the financial position, results of operations and cash flows of Holdings, the Operating Company, guarantor domestic subsidiaries of the Operating Company, non-guarantor subsidiaries and CapCo I.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>14</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>GRAHAM PACKAGING HOLDINGS COMPANY</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>
<B><font SIZE=2>GRAHAM PACKAGING HOLDINGS COMPANY</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>CONDENSED CONSOLIDATING BALANCE SHEET</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>AS OF MARCH 31, 2006</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>(In thousands)</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Graham</font></b><br> <b><font size=1>Packaging</font></b><br> <b><font size=1>Holdings</font></b><br> <b><font size=1>Company</font></b></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Graham</font></b><br> <b><font size=1>Packaging</font></b><br> <b><font size=1>Company,</font></b><br> <B><font SIZE=1>L.P.</font></B></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><br> <br> <br> <b><font size=1>Guarantors</font></b></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><br> <br> <b><font size=1>Non-</font></b><br> <b><font size=1>Guarantors</font></b></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><br> <B><font SIZE=1>GPC</font></B><br> <b><font size=1>Capital</font></b><br> <b><font size=1>Corp. I</font></b></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><br> <br> <br> <b><font size=1>Eliminations</font></b></p> </td>
        <td width="8" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><br> <br> <br> <b><font size=1>Consolidated</font></b></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><B><font SIZE=1>ASSETS</font></B></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="58" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Current assets:</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="58" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Cash and cash equivalents</font></p> </td>
        <td width="12" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="48" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="54" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>6,010</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="54" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>1</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="50" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>8,869</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="41" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="58" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="54" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>14,880</font></p> </td>
        <td width="10" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Accounts receivable, net</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>96,532</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>124,129</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>65,656</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="58" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>286,317</font></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Inventories</font></p> </td>
        <td width="12" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>93,861</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>133,751</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>45,509</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="58" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>273,121</font></p> </td>
        <td width="10" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Deferred income taxes</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>8,730</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>7,130</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="58" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>15,860</font></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>Prepaid expenses and other current assets</font></p> </td>
        <td width="12" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>14,964</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>14,323</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>21,892</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="58" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>51,179</font></p> </td>
        <td width="10" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Total current assets</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>211,367</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>280,934</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>149,056</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="58" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>641,357</font></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Property, plant and equipment, net</font></p> </td>
        <td width="12" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>571,989</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>591,913</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>284,400</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="58" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>1,448,302</font></p> </td>
        <td width="10" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Intangible assets, net</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>4,432</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>71,653</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>4,045</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="58" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>80,130</font></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Goodwill</font></p> </td>
        <td width="12" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>9,270</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>236,921</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>70,545</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="58" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>316,736</font></p> </td>
        <td width="10" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Net intercompany</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>1,193,146</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="58" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>(1,193,146</font></p> </td>
        <td width="8" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Investment in subsidiaries</font></p> </td>
        <td width="12" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>407,887</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>295,079</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="58" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>(702,966</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="10" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>Other non-current assets</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>80,272</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>804</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>5,961</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="58" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>87,037</font></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>Total assets</font></p> </td>
        <td width="12" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="54" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>2,478,363</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="54" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>1,477,304</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="50" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>514,007</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="41" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="58" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>(1,896,112</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="54" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>2,573,562</font></p> </td>
        <td width="10" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="58" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td colspan="10" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=1>LIABILITIES AND PARTNERS&#146; CAPITAL (DEFICIT)</font></b></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="58" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Current liabilities:</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:33.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="58" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Accounts payable </font></p> </td>
        <td width="12" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="48" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="54" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>96,378</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="54" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>87,200</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="50" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>45,979</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="41" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="58" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="54" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>229,557</font></p> </td>
        <td width="10" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Accrued expenses</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>114,250</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>51,798</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>50,822</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="58" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>216,870</font></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>Current portion of long-term debt</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>19,507</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>3,768</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="58" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>23,275</font></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Total current liabilities</font></p> </td>
        <td width="12" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>230,135</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>138,998</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>100,569</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="58" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>469,702</font></p> </td>
        <td width="10" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Long-term debt</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>2,542,609</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>866</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="58" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>2,543,475</font></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Deferred income taxes</font></p> </td>
        <td width="12" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>5,212</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>12,146</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="58" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>17,358</font></p> </td>
        <td width="10" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Other non-current liabilities</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>16,708</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>13,774</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>10,724</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="58" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>41,206</font></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Investment in subsidiaries</font></p> </td>
        <td width="12" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>311,089</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="58" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>(311,089</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="10" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Net intercompany</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>187,090</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>963,750</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>42,306</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="58" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>(1,193,146</font></p> </td>
        <td width="8" valign=bottom style='background:white;padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Commitments and contingent liabilities</font></p> </td>
        <td width="12" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="58" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="10" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>Partners&#146; capital (deficit)</font></p> </td>
        <td width="12" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: solid black 1.0pt; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>(498,179</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='border-bottom: solid black 1.0pt; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>(311,089</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='border-bottom: solid black 1.0pt; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>355,570</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='border-bottom: solid black 1.0pt; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>347,396</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='border-bottom: solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="58" valign=bottom style='border-bottom: solid black 1.0pt; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>(391,877</font></p> </td>
        <td width="8" valign=bottom style='padding:0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="54" valign=bottom style='border-bottom: solid black 1.0pt; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>(498,179</font></p> </td>
        <td width="10" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>Total liabilities and partners&#146; capital (deficit)</font></p> </td>
        <td width="12" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="54" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>2,478,363</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="54" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>1,477,304</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="50" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>514,007</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="41" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="58" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>(1,896,112</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0;padding: 0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="54" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>2,573,562</font></p> </td>
        <td width="10" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>15</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>GRAHAM PACKAGING HOLDINGS COMPANY</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>
<B><font SIZE=2>GRAHAM PACKAGING HOLDINGS COMPANY</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>CONDENSED CONSOLIDATING BALANCE SHEET</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>AS OF DECEMBER 31, 2005</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>(In thousands)</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="22%" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><br> <b><font size=1>Graham Packaging Holdings</font></b><br> <b><font size=1>Company</font></b></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><br> <br> <b><font size=1>Graham Packaging</font></b><br> <b><font size=1>Company,</font></b><br> <B><font SIZE=1>L.P.</font></B></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><br> <br> <br> <br> <b><font size=1>Guarantors</font></b></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><br> <br> <br> <b><font size=1>Non-</font></b><br> <b><font size=1>Guarantors</font></b></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><br> <br> <B><font SIZE=1>GPC </font></B><br> <b><font size=1>Capital</font></b><br> <b><font size=1>Corp. I</font></b></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><br> <br> <br> <br> <b><font size=1>Eliminations</font></b></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><br> <br> <br> <br> <b><font size=1>Consolidated</font></b></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="22%" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=1>ASSETS</font></B></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="6%" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="22%" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Current assets:</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="6%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="22%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Cash and cash equivalents</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="7%" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="8%" valign=bottom style='background:#AFFED0;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>11,307</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="8%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>1</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="7%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>15,376</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="6%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>26,684</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="22%" valign=bottom style='background:white; '>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Accounts receivable, net</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:white;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>79,454</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>102,758</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>69,145</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="6%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>251,357</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="22%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Inventories</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:#AFFED0;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>93,205</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>145,121</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>49,484</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="6%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>287,810</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="22%" valign=bottom style='background:white; '>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Deferred income taxes</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:white;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>8,730</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>4,339</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="6%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>13,069</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="22%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Prepaid expenses and other current assets</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>17,928</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>11,257</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>21,812</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="6%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>50,997</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="22%" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Total current assets</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:white;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>201,894</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>267,867</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>160,156</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="6%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>629,917</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="22%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Property, plant and equipment, net</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:#AFFED0;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>562,817</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>597,196</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>283,447</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="6%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>1,443,460</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="22%" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Intangible assets, net</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:white;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>4,331</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>73,212</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>4,090</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="6%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>81,633</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="22%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Goodwill</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:#AFFED0;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>9,240</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>236,921</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>71,010</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="6%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>317,171</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="22%" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Net intercompany</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:white;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>1,221,017</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="6%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(1,221,017</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>)</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="22%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Investment in subsidiaries</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:#AFFED0;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>413,433</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>296,544</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="6%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(709,977</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>)</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="22%" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>Other non-current assets</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>82,306</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>897</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>6,994</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="6%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>90,197</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="22%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><font size=1>Total assets</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="7%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="8%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>2,495,038</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="8%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>1,472,637</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="7%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>525,697</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="6%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="9%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(1,930,994</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><font size=1>)</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="9%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>2,562,378</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="22%" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="6%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td  colspan="7" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=1>LIABILITIES AND PARTNERS&#146; CAPITAL (DEFICIT)</font></b></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="6%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="22%" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Current liabilities:</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="6%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:32.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="22%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Accounts payable</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="7%" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="8%" valign=bottom style='background:#AFFED0;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>68,294</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="8%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>49,471</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="7%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>59,835</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="6%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>177,600</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="22%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Accrued expenses</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:#AFFED0;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>85,270</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>45,876</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>45,286</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="6%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>176,432</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="22%" valign=bottom style='background:white; '>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>Current portion of long-term debt</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>21,025</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>6,834</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="6%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>27,859</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="22%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Total current liabilities</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:#AFFED0;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>174,589</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>95,347</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>111,955</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="6%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>381,891</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="22%" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Long-term debt</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:white;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>2,609,618</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>863</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="6%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>2,610,481</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="22%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Deferred income taxes</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:#AFFED0;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>11,031</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>11,562</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="6%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>22,593</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="22%" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Other non-current liabilities</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:white;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>17,451</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>12,626</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>11,046</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="6%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>41,123</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="22%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Investment in subsidiaries</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>306,620</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:#AFFED0;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="6%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(306,620</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>)</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="22%" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Net intercompany</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:white;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>187,090</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>988,412</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>45,515</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="6%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(1,221,017</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>)</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="22%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Commitments and contingent liabilities</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:#AFFED0;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="6%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="22%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>Partners&#146; capital (deficit)</font></p> </td>
        <td width="1%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(493,710</font></p> </td>
        <td width="1%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>)</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(306,620</font></p> </td>
        <td width="1%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>)</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8%" valign=bottom style='border-bottom: solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>365,221</font></p> </td>
        <td width="1%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom style='border-bottom: solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>344,756</font></p> </td>
        <td width="1%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="6%" valign=bottom style='border-bottom: solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='border-bottom: solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(403,357</font></p> </td>
        <td width="1%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>)</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(493,710</font></p> </td>
        <td width="3%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>)</font></p> </td> </tr>
    <tr >
        <td width="22%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><font size=1>Total liabilities and partners&#146; capital (deficit)</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="7%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="8%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>2,495,038</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="8%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>1,472,637</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="7%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>525,697</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="6%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="9%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(1,930,994</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><font size=1>)</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="9%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>2,562,378</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>16</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>GRAHAM PACKAGING HOLDINGS COMPANY</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>
<B><font SIZE=2>GRAHAM PACKAGING HOLDINGS COMPANY</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>FOR THE THREE MONTHS ENDED MARCH 31, 2006</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>(In thousands)</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Graham</font></b><br> <b><font size=1>Packaging</font></b><br> <b><font size=1>Holdings</font></b><br> <b><font size=1>Company</font></b></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Graham</font></b><br> <b><font size=1>Packaging</font></b><br> <b><font size=1>Company,</font></b><br> <B><font SIZE=1>L.P.</font></B></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><br> <br> <br> <b><font size=1>Guarantors</font></b></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><br> <br> <b><font size=1>Non-</font></b><br> <b><font size=1>Guarantors</font></b></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><br> <B><font SIZE=1>GPC </font></B><br> <b><font size=1>Capital </font></b><br> <b><font size=1>Corp. I</font></b></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><br> <br> <br> <b><font size=1>Eliminations</font></b></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><br> <br> <br> <b><font size=1>Consolidated</font></b></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt;line-height:162%'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;line-height:162%'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;line-height:162%'><font size=1>&nbsp;</font></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;line-height:162%'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;line-height:162%'><font size=1>&nbsp;</font></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;line-height:162%'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;line-height:162%'><font size=1>&nbsp;</font></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;line-height:162%'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;line-height:162%'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;line-height:162%'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;line-height:162%'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;line-height:162%'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;line-height:162%'><font size=1>&nbsp;</font></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;line-height:162%'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;line-height:162%'><font size=1>&nbsp;</font></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Net sales</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="51" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="51" valign=bottom style='background:#AFFED0;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>277,507</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="51" valign=bottom style='background:#AFFED0;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>275,071</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="51" valign=bottom style='background:#AFFED0;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>111,614</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="51" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="51" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>(19,185</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="52" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>645,007</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>Cost of goods sold</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>235,617</font></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>259,794</font></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>100,271</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>(19,185</font></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>576,497</font></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Gross profit</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='background:#AFFED0;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>41,890</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>15,277</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>11,343</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>68,510</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>Selling, general and administrative expenses</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>12,997</font></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>11,689</font></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>6,419</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>31,105</font></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Operating income</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='background:#AFFED0;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>28,893</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>3,588</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>4,924</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>37,405</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Interest expense, net</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="14" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>30,826</font></p> </td>
        <td width="14" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>18,211</font></p> </td>
        <td width="14" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>1,348</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="14" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>50,385</font></p> </td>
        <td width="14" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Other (income) expense, net</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='background:#AFFED0;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(340</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='background:#AFFED0;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>(79</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='background:#AFFED0;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>456</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>37</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>Equity in loss of subsidiaries</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>9,986</font></p> </td>
        <td width="14" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>8,393</font></p> </td>
        <td width="14" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>2,976</font></p> </td>
        <td width="14" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>(21,355</font></p> </td>
        <td width="14" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="14" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>(Loss) income before income taxes and minority interest </font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(9,986</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='background:#AFFED0;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(9,986</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>(17,520</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>3,120</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>21,355</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>(13,017</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td> </tr>
    <tr >
        <td valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>Income tax (benefit) provision</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="14" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="14" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>(5,809</font></p> </td>
        <td width="14" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>2,778</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="51" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="14" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>(3,031</font></p> </td>
        <td width="14" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>Net (loss) income</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="51" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(9,986</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="51" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(9,986</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="51" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>(11,711</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="51" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>342</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="51" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="51" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>21,355</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="52" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>(9,986</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>17</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>GRAHAM PACKAGING HOLDINGS COMPANY</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>
<B><font SIZE=2>GRAHAM PACKAGING HOLDINGS COMPANY</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>FOR THE THREE MONTHS ENDED MARCH 31, 2005</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>(In thousands)</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Graham</font></b><br> <b><font size=1>Packaging</font></b><br> <b><font size=1>Holdings</font></b><br> <b><font size=1>Company</font></b></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Graham</font></b><br> <b><font size=1>Packaging</font></b><br> <b><font size=1>Company,</font></b><br> <B><font SIZE=1>L.P.</font></B></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Guarantors</font></b></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Non-</font></b><br> <b><font size=1>Guarantors</font></b></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><B><font SIZE=1>GPC </font></B><br> <b><font size=1>Capital </font></b><br> <b><font size=1>Corp. I</font></b></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Eliminations</font></b></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Consolidated</font></b></p> </td>
        <td width="19" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="57" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="19" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Net sales</font></p> </td>
        <td width="10" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="50" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="50" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>243,177</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="57" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>275,667</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="50" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>116,465</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="50" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="50" valign=bottom style='background:#AFFED0;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(14,770</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="52" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>620,539</font></p> </td>
        <td width="19" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>Cost of goods sold</font></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>214,713</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="57" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>242,311</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>99,841</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(14,770</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>542,095</font></p> </td>
        <td width="19" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="57" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="19" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Gross profit</font></p> </td>
        <td width="10" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>28,464</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="57" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>33,356</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>16,624</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:#AFFED0;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>78,444</font></p> </td>
        <td width="19" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Selling, general and administrative expenses</font></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>27,572</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="57" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>874</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>5,849</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>34,295</font></p> </td>
        <td width="19" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>Impairment charges</font></p> </td>
        <td width="10" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>1,605</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="57" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>1,605</font></p> </td>
        <td width="19" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Operating (loss) income</font></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(713</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="57" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>32,482</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>10,775</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>42,544</font></p> </td>
        <td width="19" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Interest expense, net</font></p> </td>
        <td width="10" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>27,027</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="57" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>14,849</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>898</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:#AFFED0;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>42,774</font></p> </td>
        <td width="19" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Other expense, net</font></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>71</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="57" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>53</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>213</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>337</font></p> </td>
        <td width="19" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>Equity in loss (earnings) of subsidiaries</font></p> </td>
        <td width="10" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>11,537</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(16,322</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="57" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(3,484</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>8,269</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="19" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="57" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="19" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>(Loss) income before income taxes and minority interest </font></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(11,537</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(11,489</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="57" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>21,064</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>9,664</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(8,269</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(567</font></p> </td>
        <td width="19" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Income tax provision</font></p> </td>
        <td width="10" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>48</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="57" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>6,858</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>3,520</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:#AFFED0;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>10,426</font></p> </td>
        <td width="19" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>Minority interest</font></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="57" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>544</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>544</font></p> </td>
        <td width="19" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="57" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50" valign=bottom style='background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="19" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>Net (loss) income</font></p> </td>
        <td width="10" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="50" valign=bottom style='border-bottom: double black 2.25pt;background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(11,537</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="50" valign=bottom style='border-bottom: double black 2.25pt;background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(11,537</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="57" valign=bottom style='border-bottom: double black 2.25pt;background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>14,206</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="50" valign=bottom style='border-bottom: double black 2.25pt;background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>5,600</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="50" valign=bottom style='border-bottom: double black 2.25pt;background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="50" valign=bottom style='border-bottom: double black 2.25pt;background:#AFFED0;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(8,269</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="52" valign=bottom style='border-bottom: double black 2.25pt;background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(11,537</font></p> </td>
        <td width="19" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>18</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>GRAHAM PACKAGING HOLDINGS COMPANY</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>
<b><font size=2> GRAHAM PACKAGING HOLDINGS COMPANY</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>FOR THE THREE MONTHS ENDED MARCH 31, 2006</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>(In thousands)</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="11" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Graham</font></b><br> <b><font size=1>Packaging</font></b><br> <b><font size=1>Holdings</font></b><br> <b><font size=1>Company</font></b></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Graham</font></b><br> <b><font size=1>Packaging</font></b><br> <b><font size=1>Company,</font></b><br> <B><font SIZE=1>L.P.</font></B></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Guarantors</font></b></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Non-</font></b><br> <b><font size=1>Guarantors</font></b></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><B><font SIZE=1>GPC</font></B><br> <b><font size=1>Capital</font></b><br> <b><font size=1>Corp. I</font></b></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Eliminations</font></b></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Consolidated</font></b></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="11" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="56" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Operating activities:</font></p> </td>
        <td width="11" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="56" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0;padding: 0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Net cash provided by operating activities</font></p> </td>
        <td width="11" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="41" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="48" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>89,192</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="48" valign=bottom style='background:#AFFED0;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>15,267</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="48" valign=bottom style='background:#AFFED0;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>2,613</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="41" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="48" valign=bottom style='background:#AFFED0;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="56" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>107,072</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='padding:0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="11" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="56" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='padding:0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Investing activities:</font></p> </td>
        <td width="11" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="56" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='padding:0in .05in 0in 0in'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Net cash paid for property, plant and equipment</font></p> </td>
        <td width="11" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(25,901</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(15,267</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(6,205</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="56" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(47,373</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0;padding: 0in .05in 0in 0in'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>Acquisition of/investment in a business, net of cash acquired</font></p> </td>
        <td width="11" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(30</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="56" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(30</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='padding:0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Net cash used in investing activities</font></p> </td>
        <td width="11" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(25,931</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(15,267</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(6,205</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="56" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(47,403</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='padding:0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="11" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="56" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='padding:0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Financing activities:</font></p> </td>
        <td width="11" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="56" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0;padding: 0in .05in 0in 0in'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Proceeds from issuance of long-term debt</font></p> </td>
        <td width="11" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>125,914</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:#AFFED0;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:#AFFED0;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>7,757</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:#AFFED0;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="56" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>133,671</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='padding:0in .05in 0in 0in'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Payment of long-term debt</font></p> </td>
        <td width="11" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(194,441</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(11,037</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="56" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(205,478</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='padding:0in .05in 0in 0in'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>Debt issuance fees</font></p> </td>
        <td width="11" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='border-bottom: solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(31</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='border-bottom: solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="56" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(31</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0;padding: 0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Net cash used in financing activities</font></p> </td>
        <td width="11" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(68,558</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(3,280</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="56" valign=bottom style='background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(71,838</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='padding:0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="11" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="56" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='padding:0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>Effect of exchange rate changes</font></p> </td>
        <td width="11" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='border-bottom: solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>365</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='border-bottom: solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="56" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>365</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0;padding: 0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Decrease in cash and cash equivalents</font></p> </td>
        <td width="11" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(5,297</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(6,507</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="56" valign=bottom style='background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(11,804</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='padding:0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>Cash and cash equivalents at beginning of period</font></p> </td>
        <td width="11" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='border-bottom: solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>11,307</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>1</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>15,376</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="41" valign=bottom style='border-bottom: solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="56" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>26,684</font></p> </td>
        <td width="9" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0;padding: 0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>Cash and cash equivalents at end of period</font></p> </td>
        <td width="11" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="41" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>6,010</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>1</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>8,869</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="41" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="56" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>14,880</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>19</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>GRAHAM PACKAGING HOLDINGS COMPANY</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>
<B><font SIZE=2>GRAHAM PACKAGING HOLDINGS COMPANY</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>FOR THE THREE MONTHS ENDED MARCH 31, 2005</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>(In thousands)</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="11" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Graham</font></b><br> <b><font size=1>Packaging</font></b><br> <b><font size=1>Holdings</font></b><br> <b><font size=1>Company</font></b></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Graham</font></b><br> <b><font size=1>Packaging</font></b><br> <b><font size=1>Company,</font></b><br> <B><font SIZE=1>L.P.</font></B></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Guarantors</font></b></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Non-</font></b><br> <b><font size=1>Guarantors</font></b></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><B><font SIZE=1>GPC</font></B><br> <b><font size=1>Capital</font></b><br> <b><font size=1>Corp. I</font></b></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Eliminations</font></b></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Consolidated</font></b></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Operating activities:</font></p> </td>
        <td width="11" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="40" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="55" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="39" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0;padding: 0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Net cash provided by operating activities</font></p> </td>
        <td width="11" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="40" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="55" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>21,602</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="48" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>16,356</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="48" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>2,627</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="39" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="48" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="52" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>40,585</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="11" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="40" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="55" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="39" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Investing activities:</font></p> </td>
        <td width="11" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="40" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="55" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="39" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Net cash paid for property, plant and equipment</font></p> </td>
        <td width="11" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="40" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="55" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(38,669</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(16,345</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(7,391</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="39" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>(62,405</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0;padding: 0in .05in 0in 0in'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0in'><font size=1>Acquisitions of/investments in</font></p>
<p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>businesses, net of cash acquired</font></p> </td>
        <td width="11" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="40" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="55" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(30,813</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(10</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(2,138</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="39" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>(32,961</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Net cash used in investing activities</font></p> </td>
        <td width="11" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="40" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="55" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(69,482</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(16,355</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(9,529</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="39" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>(95,366</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="11" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="40" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="55" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="39" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Financing activities:</font></p> </td>
        <td width="11" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="40" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="55" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="39" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0;padding: 0in .05in 0in 0in'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Proceeds from issuance of long-term debt</font></p> </td>
        <td width="11" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="40" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="55" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>253,680</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>15,096</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="39" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>268,776</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Payment of long-term debt</font></p> </td>
        <td width="11" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="40" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="55" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(204,443</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(14,836</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="39" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>(219,279</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0;padding: 0in .05in 0in 0in'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>Debt issuance fees</font>                                                 </p> </td>
        <td width="11" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="40" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="55" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(435</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="39" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>(435</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Net cash provided by financing activities</font></p> </td>
        <td width="11" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="40" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="55" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>48,802</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>260</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="39" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>49,062</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="11" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="40" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="55" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="39" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0;padding: 0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>Effect of exchange rate changes</font></p> </td>
        <td width="11" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="40" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="55" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(839</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="39" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>(839</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Increase (decrease) in cash and cash equivalents</font></p> </td>
        <td width="11" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="40" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="55" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>922</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>1</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>(7,481</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="39" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>(6,558</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0;padding: 0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>Cash and cash equivalents at beginning of period</font></p> </td>
        <td width="11" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="40" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="55" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>1,080</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>21,051</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="39" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>22,131</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white;padding:0in .05in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>Cash and cash equivalents at end of period</font></p> </td>
        <td width="11" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:double black 2.25pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="40" valign=bottom style='border-bottom: double black 2.25pt;background: white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="55" valign=bottom style='border-bottom: double black 2.25pt;background: white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>2,002</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: double black 2.25pt;background: white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>1</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: double black 2.25pt;background: white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>13,570</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="39" valign=bottom style='border-bottom: double black 2.25pt;background: white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=bottom style='border-bottom:double black 2.25pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="48" valign=bottom style='border-bottom: double black 2.25pt;background: white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:double black 2.25pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="52" valign=bottom style='border-bottom: double black 2.25pt;background: white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>15,573</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>20</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>GRAHAM PACKAGING HOLDINGS COMPANY</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
</p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="3%" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>14.</font></b></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Comprehensive Loss </font></b></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>Comprehensive loss for the three months ended March 31, 2006 and 2005 was as follows:</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="65%" style='border-collapse:collapse'>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="5" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Three Months Ended</font></b><br> <b><font size=1>March 31,</font></b></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>2006</font></b></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>2005</font></b></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="5" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>(In thousands)</font></b></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Net loss </font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="69" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(9,986</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="69" valign=bottom style='background:#AFFED0; padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>(11,537</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=2>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Changes in fair value of derivatives</font></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="69" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>3,291</font></p> </td>
        <td width="14" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="69" valign=bottom style='background:white;padding: 0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>9,744</font></p> </td>
        <td width="14" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Additional minimum pension liability</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="69" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>5</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="69" valign=bottom style='background:#AFFED0; padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>7</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Cumulative translation adjustment</font></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="69" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>2,262</font></p> </td>
        <td width="14" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="69" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>(9,578</font></p> </td>
        <td width="14" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=2>Comprehensive loss</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="69" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>(4,428</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=2>)</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="69" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>(11,364</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; padding:0in 0in 0in .7pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=2>)</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>21</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>GRAHAM PACKAGING HOLDINGS COMPANY</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'>
</p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="3%" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>15.</font></b></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Segment Information</font></b></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>The Company is organized and managed on a geographical basis in three operating segments:  North America, Europe and South America. Segment information for the three months ended March 31, 2006 and 2005, representing the reportable segments currently utilized by the chief operating decision maker, was as follows:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.69%;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.69%;text-align:justify;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="26%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="20%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td  colspan="2" valign=bottom style='  border-bottom:solid black 1.0pt;  background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>North</font></b><br>  <b><font size=1> America</font></b></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td  colspan="2" valign=bottom style='  border-bottom:solid black 1.0pt;  background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><br>  <b><font size=1>Europe</font></b></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td  colspan="2" valign=bottom style='  border-bottom:solid black 1.0pt;  background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>South</font></b><br>  <b><font size=1>America</font></b></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td  colspan="2" valign=bottom style='  border-bottom:solid black 1.0pt;  background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><br>  <b><font size=1>Eliminations</font></b></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td  colspan="2" valign=bottom style='  border-bottom:solid black 1.0pt;  background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><br>  <b><font size=1>Total</font></b></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr>
    <tr >
        <td width="26%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="20%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="6%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>(a)</font></b></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr>
    <tr >
        <td width="26%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="20%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td  colspan="7" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>(In thousands)</font></b></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr>
    <tr >
        <td width="26%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Net sales (b) (c)</font></p>  </td>
        <td width="0%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="20%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>2006</font></p>  </td>
        <td width="0%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p>  </td>
        <td width="8%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>571,941</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p>  </td>
        <td width="7%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>57,954</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p>  </td>
        <td width="6%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>15,112</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p>  </td>
        <td width="8%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>$</font></p>  </td>
        <td width="7%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>645,007</font></p>  </td>
        <td width="0%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr>
    <tr >
        <td width="26%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="20%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>2005</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>538,687</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>66,557</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="6%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>15,295</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>620,539</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr>
    <tr >
        <td width="26%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="20%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="6%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr>
    <tr >
        <td width="26%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Operating income</font></p>  </td>
        <td width="0%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="20%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>2006</font></p>  </td>
        <td width="0%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>31,718</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>4,560</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="6%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>1,127</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>37,405</font></p>  </td>
        <td width="0%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr>
    <tr >
        <td width="26%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="20%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>2005</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>35,864</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>4,677</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="6%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>2,003</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>42,544</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr>
    <tr >
        <td width="26%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="20%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="6%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr>
    <tr >
        <td width="26%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Depreciation and</font></p>  </td>
        <td width="0%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="20%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>2006</font></p>  </td>
        <td width="0%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>47,410</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>4,892</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="6%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>1,120</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>53,422</font></p>  </td>
        <td width="0%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr>
    <tr >
        <td width="26%" valign=bottom style='background:white;  '>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font  size=1>amortization  (d)</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="20%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>2005</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>49,374</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>4,938</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="6%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>838</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>55,150</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr>
    <tr >
        <td width="26%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="20%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="6%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr>
    <tr >
        <td width="26%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Impairment charges</font></p>  </td>
        <td width="0%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="20%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>2006</font></p>  </td>
        <td width="0%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="6%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p>  </td>
        <td width="0%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr>
    <tr >
        <td width="26%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="20%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>2005</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>1,605</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="6%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>1,605</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr>
    <tr >
        <td width="26%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="20%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="6%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr>
    <tr >
        <td width="26%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Interest expense, net (d)</font></p>  </td>
        <td width="0%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="20%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>2006</font></p>  </td>
        <td width="0%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>49,464</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>697</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="6%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>224</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>50,385</font></p>  </td>
        <td width="0%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr>
    <tr >
        <td width="26%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="20%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>2005</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>42,056</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>496</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="6%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>222</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>42,774</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr>
    <tr >
        <td width="26%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="20%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="6%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr>
    <tr >
        <td width="26%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Income tax (benefit) provision</font></p>  </td>
        <td width="0%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="20%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>2006</font></p>  </td>
        <td width="0%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(5,292</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>)</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>1,979</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="6%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>282</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(3,031</font></p>  </td>
        <td width="0%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>)</font></p>  </td> </tr>
    <tr >
        <td width="26%" valign=bottom style='background:white;  '>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="20%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>2005</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>8,191</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>1,862</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="6%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>373</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>10,426</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr>
    <tr >
        <td width="26%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="20%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="6%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr>
    <tr >
        <td width="26%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Identifiable assets (b)(c)</font></p>  </td>
        <td width="0%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="20%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>As of March 31, 2006</font></p>  </td>
        <td width="0%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>2,647,120</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>304,800</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="6%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>69,629</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(447,987</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>)</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>2,573,562</font></p>  </td>
        <td width="0%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr>
    <tr >
        <td width="26%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="20%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>As of December 31, 2005</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>2,638,141</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>298,318</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="6%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>68,131</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(442,212</font></p>  </td>
        <td width="1%" valign=bottom style='background:white;padding: 0in 0in 0in .7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>)</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>2,562,378</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr>
    <tr >
        <td width="26%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="20%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="6%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr>
    <tr >
        <td width="26%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Goodwill</font></p>  </td>
        <td width="0%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="20%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>As of March 31, 2006</font></p>  </td>
        <td width="0%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>287,482</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>17,458</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="6%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>11,796</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>316,736</font></p>  </td>
        <td width="0%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr>
    <tr >
        <td width="26%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="20%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>As of December 31, 2005</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>288,158</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>17,278</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="6%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>11,735</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>317,171</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr>
    <tr >
        <td width="26%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="20%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="6%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr>
    <tr >
        <td width="26%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Net cash paid for property, plant  and equipment, excluding acquisitions</font></p>  </td>
        <td width="0%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="20%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>2006</font></p>  </td>
        <td width="0%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>41,545</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>3,225</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="6%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>2,607</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(4</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>)</font></p>  </td>
        <td width="1%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>47,373</font></p>  </td>
        <td width="0%" valign=bottom style='background:#AFFED0;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr>
    <tr >
        <td width="26%" valign=bottom style='background:white;  '>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="20%" valign=bottom style='background:white;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>2005</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>56,342</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>4,703</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="6%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>1,360</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="8%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&#151;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="7%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>62,405</font></p>  </td>
        <td width="0%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr> </table>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.69%;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.69%;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.69%;text-align:justify;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="96%" style='margin-left:.25in;border-collapse:collapse'>
    <tr >
        <td width="4%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(a)</font></p> </td>
        <td width="95%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>To eliminate intercompany balances, which include investments in the operating segments and inter-segment receivables and payables.</font></p> </td> </tr>
    <tr >
        <td width="4%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(b)</font></p> </td>
        <td width="95%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>The Company&#146;s net sales for Europe include sales in France which totaled approximately $13.0 million and $20.1 million for the three months ended March 31, 2006 and 2005, respectively.  Identifiable assets in France totaled approximately $115.4 million and $114.1 million as of March 31, 2006 and December 31, 2005, respectively. </font></p> </td> </tr>
    <tr >
        <td width="4%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(c)</font></p> </td>
        <td width="95%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>The Company&#146;s net sales for North America include sales in Mexico which totaled approximately $32.5 million and $29.9 million for the three months ended March 31, 2006 and 2005, respectively.  Identifiable assets in Mexico totaled approximately $158.4 million and $165.5 million as of March 31, 2006 and December 31, 2005, respectively. Approximately all of the North America reportable segment&#146;s remaining net sales and identifiable assets are in the United States.</font></p> </td> </tr>
    <tr >
        <td width="4%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(d)</font></p> </td>
        <td width="95%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Includes amortization of debt issuance fees.</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>22</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>GRAHAM PACKAGING HOLDINGS COMPANY</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'>
</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><i><font size=2>Product Net Sales Information</font></i></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>The following is supplemental information on net sales by product category:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="62%" STYLE="border-collapse:collapse;" ALIGN="Center">
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="5" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Three Months Ended</font></b><br> <b><font size=1>March 31,</font></b></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt;  background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>2006</font></b></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>2005</font></b></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="5" valign=bottom style=' background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>(In thousands)</font></b></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Food and Beverage</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="17%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>366,409</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="17%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>352,611</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Household</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="17%" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>132,116</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="17%" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>124,127</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Automotive Lubricants</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="17%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>71,778</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="17%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>68,471</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Personal Care/Specialty </font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="17%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>74,704</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="17%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>75,330</font></p> </td>
        <td width="3%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=2>Total Net Sales</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="17%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>645,007</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="17%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>620,539</font></p> </td>
        <td width="3%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="3%" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>16.</font></b></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Pension Plans</font></b></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>The components of net periodic pension cost for the Company&#146;s U.S. defined benefit pension plans consisted of the following:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.69%;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.69%;text-align:justify;'><font size=2>&nbsp;</font></p>


<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="69%" STYLE="border-collapse:collapse;" ALIGN="Center">
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="5" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Three Months Ended</font></b><br> <b><font size=1>March 31,</font></b></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>2006</font></b></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>2005</font></b></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="4" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>(In thousands)</font></b></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Components of net periodic pension cost:</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="73" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="73" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Service cost</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="73" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>2,597</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="73" valign=bottom style='background:#AFFED0;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>2,527</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Interest cost</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="73" valign=bottom style='background:white;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>1,061</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="73" valign=bottom style='background:white;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>891</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Expected return on plan assets</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="73" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>(994</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:.7pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom: 0in'><font size=2>)</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="73" valign=bottom style='background:#AFFED0;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>(852</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:.7pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom: 0in'><font size=2>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Net amortization and deferral</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:8.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="73" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:8.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>285</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:8.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="73" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:8.0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>438</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=2>Net periodic pension cost</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="73" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>2,949</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="73" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>3,004</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>The decrease in net periodic pension cost in the first three months of 2006 was primarily attributable to lower net amortization and deferral in 2006 and higher expected returns on plan assets as a result of increased pension contributions in 2005, partially offset by higher interest costs in 2006 as a result of a reduction in the discount rate.</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>The Company previously disclosed in its financial statements for the year ended December 31, 2005 that it expected to contribute $9.8 million to its pension plans in 2006. As of March 31, 2006, $0.2 million of contributions to its pension plans has been made. </font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>The Company recognized $0.9 million of expense for the Company&#146;s 401(k) plans in the first three months of 2006 and 2005.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:7.69%;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.69%;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>23</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><b><font size=2>Item 2. Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:7.69%;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:7.69%;text-align:left;'><B><font SIZE=2>CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS</font></B></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><i><font size=2>All statements other than statements of historical facts included in this Report on Form 10-Q, including statements regarding the future financial position, economic performance and results of operations of the Company, as well as the Company&#146;s business strategy, budgets and projected costs and plans and objectives of management for future operations, and the information referred to under &#147;Quantitative and Qualitative Disclosures About Market Risk&#148; (Part I, Item 3), are forward-looking statements. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as &#147;may,&#148; &#147;will,&#148; &#147;expect,&#148; &#147;intend,&#148; &#147;estimate,&#148; &#147;anticipate,&#148; &#147;believe,&#148; or &#147;continue&#148; or similar terminology. These forward-looking statements are not historical facts, and are based on
current expectations, estimates and projections about the Company&#146;s industry, management&#146;s beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond the Company&#146;s control.  Accordingly, readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict.  Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements.  Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made in this report.  Readers should carefully review the risks and
uncertainties under &#147;Risk Factors&#148; in Holdings&#146; Annual Report on Form 10-K for the fiscal year ended December 31, 2005. All forward-looking statements attributable to the Company, or persons acting on its behalf, are expressly qualified in their entirety by the cautionary statements set forth in this paragraph.</font></i></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><b><font size=2>Overview</font></b><font size=2> </font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>The Company is a worldwide leader in the design, manufacture and sale of customized blow molded plastic containers for the branded food and beverage, household, personal care/specialty and automotive lubricants product categories and, as of the end of March 2006, operated 87 manufacturing facilities throughout North America, Europe and South America. The Company&#146;s primary strategy is to operate in select markets that will position it to benefit from the growing conversion to value-added plastic packaging from more commodity packaging.</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>Management believes that critical success factors to the Company&#146;s business are its ability to:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.69%;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="81%" style='margin-left:.75in;border-collapse:collapse'>
    <tr >
        <td width="4%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0in;text-indent:0in;text-align: left;margin-top:0pt;margin-bottom:0pt'><font size=4><b>&#149;</b></font></p> </td>
        <td width="95%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>develop its own proprietary technologies that provide meaningful competitive advantage in the marketplace;</font></p> </td> </tr>
    <tr >
        <td width="4%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0in;text-indent:0in;text-align: left;margin-top:0pt;margin-bottom:0pt'><font size=4><b>&#149;</b></font></p> </td>
        <td width="95%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>maintain relationships with and serve the complex packaging demands of its customers which include some of the world&#146;s largest branded consumer products companies;</font></p> </td> </tr>
    <tr >
        <td width="4%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0in;text-indent:0in;text-align: left;margin-top:0pt;margin-bottom:0pt'><font size=4><b>&#149;</b></font></p> </td>
        <td width="95%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>forecast trends in the packaging industry across product lines and geographic territories (including those specific to the rapid conversion of packaging products from glass, metal and paper to plastic); and</font></p> </td> </tr>
    <tr >
        <td width="4%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0in;text-indent:0in;text-align: left;margin-top:0pt;margin-bottom:0pt'><font size=4><b>&#149;</b></font></p> </td>
        <td width="95%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>make investments in plant and technology necessary to satisfy the three factors mentioned above.</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.69%;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>24</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.69%;text-align:justify;'>
</p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>Management believes that the area with the greatest opportunity for growth continues to be in producing containers for the food and beverage product category because of the continued conversion to plastic packaging, including the demand for containers for juices, juice drinks, nutritional beverages, sports drinks, teas, yogurt drinks, snacks, beer and other food products. Over the past few years, the Company has experienced an overall mix shift toward smaller containers, since much of the growth in this area has been in the sale of smaller sized containers. Based on research prepared by Packaging Strategies and internal estimates, management believes the Company has become a leader in the value-added segment for hot-fill PET juice containers.  Management also believes the Company has recently become a leading participant in the rapid growth of yogurt drinks and nutritional beverages where
the Company manufactures containers using polyolefin resins. From the beginning of 1999 through March 31, 2006, the Company has invested over $1,380.0 million in capital expenditures, which includes approximately $658.0 million of purchase price allocations related to the acquisition of the blow molded plastic container business of Owens-Illinois, Inc. (&#147;O-I Plastic&#148;), in the food and beverage product category. For the last twelve months ended March 31, 2006, the Company&#146;s sales of containers for the food and beverage product category grew to $1,445.4 million from $333.4 million in 1999.</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>The Company&#146;s household container product category is a product category whose growth in prior years was fueled by conversions from powders to liquids for such products as detergents, household cleaners and automatic dishwashing detergent. Powdered products are packaged in paper based containers such as fiber wound cans and paperboard cartons. The growth of this product category now tends to follow GDP growth as liquids have gained a predominant share of these products. The Company&#146;s strongest position is in fabric care, where the Company is a leader in plastic container design and manufacture. It should be noted the fabric care industry is now offering some brands in a concentrated formula which could affect the growth in this product category.  The Company has continually upgraded its machinery, principally in the United States, to new, larger, more productive blow molders in
order to standardize production lines, improve flexibility and reduce manufacturing costs. </font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>The Company&#146;s North American one quart motor oil container product category is in a mature industry. Unit volume in the one quart motor oil industry decreased approximately 7% in 2005 as compared to 2004; annual volumes declined an average of approximately 1% to 2% in prior years. Management believes that the future rate of decline of the domestic one quart motor oil container product category will be at a higher rate than the historical rate as the product category continues to migrate towards the Do-It-For-Me quick-lube market and larger multi-quart packages.  The expected rate of decline in one quart motor oil containers is anticipated to be 8% to 10% per year over the next few years.</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>The Company&#146;s personal care/specialty product category is a product category that grows, in general, with GDP and is driven by new product launch and relaunch cycles.  Based on the volume of its sales to many major suppliers of personal care/specialty products, management believes the Company is among the leading suppliers in this product category which includes products for the hair care, skin care, oral care and specialty markets. Management believes that the Company&#146;s leading supply position results from its commitment to and reputation in new product development and flexible manufacturing processes and operations.</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>As of March 31, 2006, the Company operated 30 manufacturing facilities outside of the United States in Argentina, Belgium, Brazil, Canada, Ecuador, England, Finland, France, Hungary, Mexico, the Netherlands, Poland, Spain, Turkey and Venezuela. Over the past few years, the Company has expanded its international operations with the addition of new plants in France, Belgium, Spain, Poland, Mexico and Argentina, as well as the acquisition of O-I Plastic, which included plants in Ecuador, England, Finland, Mexico, the Netherlands and Venezuela, and the acquisition of certain Tetra-Pak operations on March 24, 2005, which included plants in Brazil, Belgium and Turkey. </font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>For the three months ended March 31, 2006, 74.4% of the Company&#146;s net sales were generated by the top twenty customers, the majority of which were under long-term contracts with terms up to ten years; the remainder of which were customers with which the Company has been doing business for over 20 years on average. Prices under these arrangements are typically tied to market standards and, therefore, vary with market conditions. In general, the contracts are requirements contracts that do not obligate the customer to purchase any given amount of product from the Company. The Company had sales to one customer which exceeded 10% of total sales for the three months ended March 31, 2006 and 2005. The Company&#146;s sales to this customer were 18.1% and 19.3% of total sales for the </font></p>

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>25</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>three months ended March 31, 2006 and 2005, respectively. For the three months ended March 31, 2006 and 2005, approximately 100% and 98%, respectively, of the sales to this customer were made in North America. </font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>Based on industry data, the following table summarizes average market prices per pound of polyethylene terephthalate, or PET, and high-density polyethylene, or HDPE, resins in the United States during the three months ended March 2006 and 2005:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="57%" STYLE="border-collapse:collapse;" ALIGN="Center">
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="18" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="5" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Three Months</font></b></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="18" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="5" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Ended March</font></b></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="18" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>2006</font></b></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>2005</font></b></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font SIZE=2>PET</font></p> </td>
        <td width="18" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="66" valign=bottom style='border-top:solid black 1.0pt; background:#AFFED0;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>0.72</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="66" valign=bottom style='border-top:solid black 1.0pt; background:#AFFED0;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>0.77</font></p> </td>
        <td width="10" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font SIZE=2>HDPE</font></p> </td>
        <td width="18" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="66" valign=bottom style='background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>0.73</font></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="66" valign=bottom style='background:white;padding:0in 1.45pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>0.63</font></p> </td>
        <td width="10" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:7.69%; text-indent:7.69%;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>In general, the Company&#146;s dollar gross profit is substantially unaffected by fluctuations in the prices of PET and HDPE resins, the primary raw materials for the Company&#146;s products, because industry practice and the Company&#146;s agreements with its customers permit substantially all resin price changes to be passed through to customers by means of corresponding changes in product pricing. Consequently, the Company believes that its cost of goods sold, as well as other expense items, should not be analyzed solely on a percentage of net sales basis. A sustained increase in resin prices, to the extent that those costs are not passed on to the end-consumer, would make plastic containers less economical for the Company&#146;s customers and could result in a slower pace of conversions to plastic containers.</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>Holdings and the Operating Company, as limited partnerships, do not pay U.S. federal income taxes under the provisions of the Internal Revenue Code, as the applicable income or loss is included in the tax returns of its partners. However, certain U.S. subsidiaries acquired as part of O-I Plastic are corporations and are subject to U.S. federal and state income taxes. The Company&#146;s foreign operations are subject to tax in their local jurisdictions. Deferred income tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and are measured using enacted tax rates expected to apply to taxable income in the years in which the temporary differences are expected to reverse.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.69%;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><b><font size=2>Results of Operations</font></b></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>The following tables set forth the major components of the Company&#146;s net sales and such net sales expressed as a percentage of total net sales:</font><font size=1>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="60%" STYLE="margin-left:0.5pt; border-collapse:collapse;" ALIGN="Center">
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="9" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Three Months Ended</font></b><br> <b><font size=1>March 31,</font></b></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="4" valign=bottom style=' border-bottom:solid black 1.0pt;  background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>2006</font></b></p> </td>
        <td width="4%" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="4" valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>2005</font></b></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="9" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>(Dollars in millions)</font></b></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>North America</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0; padding:0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>571.9</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12%" valign=bottom style='background:#AFFED0; padding:0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>88.7</font></p> </td>
        <td width="4%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>%</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0; padding:0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>538.7</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12%" valign=bottom style='background:#AFFED0; padding:0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>86.8</font></p> </td>
        <td width="4%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>%</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Europe</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white;padding: 0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>58.0</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12%" valign=bottom style='background:white; padding:0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>9.0</font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white;padding: 0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>66.5</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12%" valign=bottom style='background:white; padding:0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>10.7</font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>South America</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0;padding:0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>15.1</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0;padding:0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>2.3</font></p> </td>
        <td width="4%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0;padding:0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>15.3</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12%" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0;padding:0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>2.5</font></p> </td>
        <td width="4%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>Total Net Sales</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='border-bottom: double black 2.25pt;background: white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="9%" valign=bottom style='border-bottom: double black 2.25pt;background: white;padding:0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>645.0</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12%" valign=bottom style='border-bottom: double black 2.25pt;background: white;padding:0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>100.0</font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>%</font></p> </td>
        <td width="2%" valign=bottom style='border-bottom: double black 2.25pt;background: white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="9%" valign=bottom style='border-bottom: double black 2.25pt;background: white;padding:0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>620.5</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12%" valign=bottom style='border-bottom: double black 2.25pt;background: white;padding:0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>100.0</font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>%</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="61%" STYLE="margin-left:0.5pt; border-collapse:collapse;" ALIGN="Center">
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="9" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Three Months Ended</font></b><br> <b><font size=1>March 31,</font></b></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="4" valign=bottom style=' border-bottom:solid black 1.0pt;  background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>2006</font></b></p> </td>
        <td width="5%" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="4" valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>2005</font></b></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="9" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>(Dollars in millions)</font></b></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Food and Beverage</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="10%" valign=bottom style='background:#AFFED0; padding:0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>366.4</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="11%" valign=bottom style='background:#AFFED0; padding:0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>56.8</font></p> </td>
        <td width="5%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>%</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0; padding:0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>352.6</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="11%" valign=bottom style='background:#AFFED0; padding:0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>56.8</font></p> </td>
        <td width="4%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>%</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Household</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10%" valign=bottom style='background:white;padding: 0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>132.1</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="11%" valign=bottom style='background:white; padding:0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>20.5</font></p> </td>
        <td width="5%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:white;padding: 0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>124.1</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="11%" valign=bottom style='background:white; padding:0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>20.0</font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>Automotive Lubricants</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10%" valign=bottom style='background:#AFFED0; padding:0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>71.8</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="11%" valign=bottom style='background:#AFFED0; padding:0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>11.1</font></p> </td>
        <td width="5%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='background:#AFFED0; padding:0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>68.5</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="11%" valign=bottom style='background:#AFFED0; padding:0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>11.0</font></p> </td>
        <td width="4%" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>Personal Care/Specialty </font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="10%" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>74.7</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="11%" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>11.6</font></p> </td>
        <td width="5%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='border-bottom: solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9%" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>75.3</font></p> </td>
        <td width="1%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="11%" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>12.2</font></p> </td>
        <td width="4%" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>Total Net Sales</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="2%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="10%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0;padding:0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>645.0</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="11%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0;padding:0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>100.0</font></p> </td>
        <td width="5%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>%</font></p> </td>
        <td width="2%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="9%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0;padding:0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>620.5</font></p> </td>
        <td width="1%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="11%" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0;padding:0in 1.8pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>100.0</font></p> </td>
        <td width="4%" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>%</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>26</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><b><font size=2>Three Months Ended March 31, 2006 Compared to Three Months Ended March 31, 2005</font></b></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><i><font size=2>Net Sales. </font></i><font size=2> Net sales for the three months ended March 31, 2006 increased $24.5 million, or 3.9%, to $645.0 million from $620.5 million for the three months ended March 31, 2005. The increase in sales was primarily due to an increase in resin pricing and volume, net of changes in mix and currency exchange rates. Container units sold increased 3.8%. On a geographic basis, sales for the three months ended March 31, 2006 in North America increased $33.2 million, or 6.2%, from the three months ended March 31, 2005, primarily due to an increase in resin pricing and higher container units sold of 4.2%, net of changes in mix</font><font color="#FF00FF"><font size=2>.  </font></font><font size=2>North American sales in the food and beverage product category, the household product category and the automotive lubricants product category contributed $19.3 million, $13.4
million and $3.8 million, respectively, to the increase, while the personal care/specialty product category decreased $3.3 million.  Container units sold in North America increased in the food and beverage product category by 10.7% and decreased in the household, automotive lubricants and personal care/specialty product categories by 8.5%, 2.7% and 9.2%, respectively.  Sales for the three months ended March 31, 2006 in Europe decreased $8.5 million, or 12.8%, compared to sales for the three months ended March 31, 2005.  The decrease in sales was primarily due to unfavorable exchange rate changes of $4.3 million and an overall mix shift to smaller containers.  Container units sold in Europe increased 0.2% compared to the same period last year.  Sales in South America for the three months ended March 31, 2006 decreased $0.2 million, or 1.3%, from the three months ended March 31, 2005.  The decrease in sales was primarily due to an overall mix shift to smaller containers, partially
offset by favorable exchange rate changes of $1.5 million.  </font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><i><font size=2>Gross Profit. </font></i><font size=2>Gross profit for the three months ended March 31, 2006 decreased $9.9 million to $68.5 million from $78.4 million for the three months ended March 31, 2005. Gross profit for the three months ended March 31, 2006 decreased $9.0 million, $0.2 million and $0.7 million in North America, Europe and South America, respectively, when compared to the three months ended March 31, 2005. The positive impact on gross profit of added volume was more than offset by a loss of approximately $5.5 million due to the inability to recover all costs related to extraordinary efforts during the Rita/Katrina hurricane events during the latter half of 2005 to procure PET raw materials and build unusually high inventory levels to make certain the Company met its customers&#146; requirements in the short term and build for the peak isotonic beverage demand in the long term.
Gross profit was also negatively impacted by a net increase of $6.5 million in non-recurring charges, which included expenses related to the acquisition of O-I Plastic, expenses incurred in 2006 related to the hurricanes in the United States in the second half of 2005 and restructuring and other non-recurring expenses, a net increase in project costs of $2.1 million and an unfavorable impact from changes in foreign currency exchange rates of $0.5 million.</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><i><font size=2>Selling, General &amp; Administrative Expenses.  </font></i><font size=2>Selling, general and administrative expenses for the three months ended March 31, 2006 decreased $3.2 million to $31.1 million from $34.3 million for the three months ended March 31, 2005. The decrease was primarily due to a decrease in non-recurring charges, partially offset by increases in North America in compensation-related expenses, legal expenses and recruitment expenses.  The non-recurring charges were $1.2 million and $6.6 million for the three months ended March 31, 2006 and 2005, respectively, comprised of expenses relating to the acquisition of O-I Plastic, global reorganization costs and other costs.  Selling, general and administrative expenses as a percent of sales decreased to 4.8% of sales for the three months ended March 31, 2006 from 5.5% of sales for the three months ended March 31, 2005.  </font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><i><font size=2>Impairment Charges.</font></i><font size=2> There were no impairment charges for the three months ended March 31, 2006 as compared to $1.6 million for the three months ended March 31, 2005.  In 2005, due to a change in the ability to utilize certain assets in the United States, the Company evaluated the recoverability of these assets.  For these assets to be held and used, the Company determined that the undiscounted cash flows were below the carrying value of these long-lived assets.  Accordingly, the Company adjusted the carrying values of these long-lived assets to their estimated fair values in accordance with SFAS 144, &#147;Accounting for the Impairment or Disposal of Long-Lived Assets,&#148; resulting in impairment charges of $1.6 million for the three months ended March 31, 2005.  </font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><i><font size=2>Interest Expense, Net</font></i><font size=2>. Interest expense, net increased $7.6 million to $50.4 million for the three months ended March 31, 2006 from $42.8 million for the three months ended March 31, 2005.  The increase was primarily related to an increase in interest rates (average 90-day LIBOR increased from 2.84% for the first quarter of 2005 to 4.76% for the first quarter of 2006) and average debt levels for the three months ended March 31, 2006. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>27</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:8.15%;text-align:left;'><i><font size=2>Other Expense, Net. </font></i><font size=2>Other expense, net was $0.0 million for the three months ended March 31, 2006 as compared to other expense, net of $0.3 million for the three months ended March 31, 2005, primarily due to lower foreign exchange losses.</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><i><font size=2>Income Tax (Benefit) Provision. </font></i><font size=2>Income tax benefit was $3.0 million for the three months ended March 31, 2006 as compared to income tax provision of $10.4 million for the three months ended March 31, 2005.  The change of $13.4 million was primarily related to decreased taxable earnings in North America.</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><i><font size=2>Minority Interest. </font></i><font size=2>There was no minority interest for the three months ended March 31, 2006 as compared to $0.5 million for the three months ended March 31, 2005 due to the buyout on May 9, 2005 of the minority interest in the Company&#146;s joint venture in Mexico. </font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><i><font size=2>Net Loss.  </font></i><font size=2>Primarily as a result of factors discussed above, net loss was $10.0 million for the three months ended March 31, 2006 compared to net loss of $11.5 million for the three months ended March 31, 2005.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><b><font size=2>Effect of Changes in Exchange Rates</font></b></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>In general, the Company&#146;s results of operations are affected by changes in foreign exchange rates. Subject to market conditions, the Company prices its products in its foreign operations in local currencies. As a result, a decline in the value of the U.S. dollar relative to the local currencies of profitable foreign subsidiaries can have a favorable effect on the profitability of the Company, and an increase in the value of the U.S. dollar relative to the local currencies of profitable foreign subsidiaries can have a negative effect on the profitability of the Company. Exchange rate fluctuations increased comprehensive income by $2.3 million for the three months ended March 31, 2006 and decreased comprehensive income by $9.6 million for the three months ended March 31, 2005.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><b><font size=2>Derivatives</font></b></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>During 2003, the Company entered into four interest rate swap agreements (three of which matured in the first quarter of 2006) under which the Company (for the remaining swap) receives variable interest based on the Eurodollar Rate (the applicable interest rate offered to banks in the London interbank eurocurrency market) and pays fixed interest at a weighted average rate of 2.80%, on $100.0 million of term loans. During 2004, the Company entered into four additional interest rate swap agreements, under which the Company receives variable interest based on the Eurodollar rate and pays fixed interest at a weighted average rate of 3.89%, on $700.0 million of term loans. During 2005, the Company entered into three additional interest rate swap agreements, under which the Company receives variable interest based on the Eurodollar rate and pays fixed interest at a weighted average rate of 4.43%,
on $225.0 million of term loans. The interest rate swaps are accounted for as cash flow hedges. The hedges are highly effective as defined in Statement of Financial Accounting Standards (&#147;SFAS&#148;) 133, &#147;Accounting for Derivative Instruments and Hedging Activities.&#148;  The effective portion of the cash flow hedges is recorded in other comprehensive income (&#147;OCI&#148;) and was an unrealized gain of $3.3 million and $9.7 million for the three months ended March 31, 2006 and 2005, respectively. Approximately 59% of the amount recorded within OCI as of March 31, 2006 is expected to be recognized in interest expense in the next twelve months. Failure to properly document the Company&#146;s interest rate swaps as effective hedges would result in income statement recognition of all or part of the cumulative $17.8 million unrealized gain recorded in accumulated OCI as of March 31, 2006.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><b><font size=2>Liquidity and Capital Resources</font></b></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>In the three months ended March 31, 2006, the Company funded, through its operating activities, $47.4 million of investing activities and $71.8 million of financing activities.  Included in the Company&#146;s operating activities was an increase in accounts payable of $52.0 million from December 31, 2005 to March 31, 2006, primarily due to changes in payment terms with certain suppliers and a normal seasonal increase experienced during the first quarter of each year.</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>In connection with the acquisition of O-I Plastic on October 7, 2004, the Operating Company, Holdings, GPC Capital Corp. I (&#147;CapCo I&#148;) and a syndicate of lenders entered into a first-lien credit agreement (the &#147;Credit Agreement&#148;) and a second-lien credit agreement (the &#147;Second-Lien Credit Agreement&#148; and, together with the Credit Agreement, the &#147;Credit Agreements&#148;). Pursuant to its terms, on April 18, 2006, the Credit Agreement was amended </font></p>

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>28</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>in order to, among other things, increase the B Term Loan facility provided under the Credit Agreement by $150.0 million.  Proceeds of the Amendment were used to pay down $100.0 million of the Second-Lien Credit Agreement, with the remaining $50.0 million being used to reduce outstanding borrowings on the existing revolving credit facility provided for under the Credit Agreement.  After giving effect to the April 18, 2006 Second Amendment to the Credit Agreement, the Credit Agreements consist of a senior secured term loan B to the Operating Company totaling $1,581.9 million, a second-lien term loan totaling $250.0 million (the &#147;Term Loans&#148; or &#147;Term Loan Facilities&#148;) and a $250.0 million revolving credit facility (the &#147;Revolving Credit Facility&#148;). The unused availability of the Revolving Credit Facility at March 31, 2006 was $115.4 million (as reduced by $9.6 million of outstanding
letters of credit and before giving effect to the April 18, 2006 Second Amendment to the Credit Agreement).  After giving effect to the April 18, 2006 Second Amendment to the Credit Agreement, the term loan B is payable in quarterly installments and requires payments of $15.6 million in 2006 and $16.0 million in each of 2007, 2008, 2009 and 2010 and $1,505.8 million in 2011. The Company expects to fund scheduled debt repayments from cash from operations and unused lines of credit. The Revolving Credit Facility expires on October 7, 2010. The second-lien term loan is payable on April 7, 2012. The obligations of the Operating Company and CapCo I under the Credit Agreements are guaranteed by Holdings and certain other subsidiaries of Holdings. As of March 31, 2006, the Company was in compliance with all covenants.</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>The acquisition of O-I Plastic and the related refinancing of the indebtedness of the Company also included the issuance of $250.0 million in Senior Notes of the Operating Company and $375.0 million in Senior Subordinated Notes of the Operating Company (collectively &#147;the Notes&#148;). The Notes are unconditionally guaranteed, jointly and severally, by Holdings and domestic subsidiaries of the Operating Company and mature on October 7, 2012 (Senior Notes) and October 7, 2014 (Senior Subordinated Notes). Interest on the Senior Notes is payable semi-annually at 8.50% and interest on the Senior Subordinated Notes is payable semi-annually at 9.875%.</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>At March 31, 2006, the Company&#146;s total indebtedness was $2,566.7 million.</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>The Credit Agreements and the Notes contain a number of significant covenants.  The Company believes that these covenants are material terms of these agreements and that information about the covenants is material to an investor&#146;s understanding of the Company&#146;s financial condition and liquidity. Covenant compliance EBITDA (as defined below) is used to determine the Company&#146;s compliance with many of these covenants.  Any breach of covenants in the Credit Agreements that are tied to ratios based on covenant compliance EBITDA could result in a default under the Credit Agreements and the lenders could elect to declare all amounts borrowed to be immediately due and payable. Any such acceleration would also result in a default under the Notes. Additionally, these covenants restrict the Company&#146;s ability to dispose of assets, repay other indebtedness, incur additional
indebtedness, pay dividends, prepay subordinated indebtedness, incur liens, make capital expenditures, investments or acquisitions, engage in mergers or consolidations, engage in transactions with affiliates and otherwise restrict the Company&#146;s activities. Under the Credit Agreements, the Company is required to satisfy specified financial ratios and tests beginning with the first quarter of 2005. As of March 31, 2006, the Company was in compliance with the financial ratios and tests specified in the Credit Agreements and the Company currently anticipates being able to comply with such financial ratios and tests for the foreseeable future, however, the Company can not give any assurance this will occur. </font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>Covenant compliance EBITDA is defined as EBITDA (i.e., earnings before interest, taxes, depreciation and amortization) further adjusted to exclude non-recurring items, non-cash items and other adjustments required in calculating covenant compliance under the Credit Agreements and the Notes, as shown in the table below. Covenant compliance EBITDA is not intended to represent cash flow from operations as defined by generally accepted accounting principles and should not be used as an alternative to net income as an indicator of operating performance or to cash flow as a measure of liquidity. The Company believes that the inclusion of covenant compliance EBITDA in this quarterly report on Form 10-Q is appropriate to provide additional information to investors about the calculation of certain financial covenants in the Credit Agreements and the Notes. Because not all companies use identical
calculations, these presentations of covenant compliance EBITDA may not be comparable to other similarly titled measures of other companies. A reconciliation of net loss to covenant compliance EBITDA is as follows: </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>29</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'>
<b><font size=2>Reconciliation of net loss to EBITDA</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="59%" STYLE="margin-left:0.5pt; border-collapse:collapse;" ALIGN="Center">
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:2pt;margin-bottom:0pt'><b><font size=1>Four Quarters Ended</font></b><br> <b><font size=1>March 31, 2006</font></b></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:2pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="102" valign=bottom style='border-top:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align: center;margin-top:2pt;margin-bottom:0pt'><b><font size=1>(In millions)</font></b></p> </td>
        <td width="15" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0.5pt'><font size=2>Net loss</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="102" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>(51.1</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=2>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0.5pt'><font size=2>Interest income</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="102" valign=bottom style='background:white;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>(0.7</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=2>)</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0.5pt'><font size=2>Interest expense</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="102" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>192.6</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0.5pt'><font size=2>Income tax provision</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="102" valign=bottom style='background:white;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>1.0</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Depreciation and amortization</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="102" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>199.3</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:2pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="102" valign=bottom style='background:white;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font SIZE=2>EBITDA</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:double black 2.25pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="102" valign=bottom style='border-bottom: double black 2.25pt;background:white;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt'><font size=2>341.1</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><b><font size=2>Reconciliation of EBITDA to covenant compliance EBITDA</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="59%" STYLE="margin-left:0.5pt; border-collapse:collapse;" ALIGN="Center">
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Four Quarters Ended</font></b><br> <b><font size=1>March 31, 2006</font></b></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="102" valign=bottom style='border-top:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>(In millions)</font></b></p> </td>
        <td width="15" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font SIZE=2>EBITDA</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="102" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>341.1</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Minority interest</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="102" valign=bottom style='background:white;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>0.2</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Impairment charges</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="102" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>5.7</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Other non-cash charges</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="102" valign=bottom style='background:white;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>13.8</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Fees related to monitoring agreements(a)</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="102" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>5.0</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Non-recurring items(b)</font></p> </td>
        <td width="15" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="102" valign=bottom style='padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>62.4</font></p> </td>
        <td width="15" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Pro forma adjustments (c)</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="102" valign=bottom style='border-bottom: solid black 1.0pt; background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>29.1</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="102" valign=bottom style='background:white;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="15" valign=bottom style='background:white'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=2>Covenant compliance EBITDA</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="102" valign=bottom style='border-bottom: double black 2.25pt;background:#AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>457.3</font></p> </td>
        <td width="15" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.69%;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.69%;text-align:justify;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="75%" style='margin-left:.5in;border-collapse:collapse'>
    <tr >
        <td width="5%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(a)</font></p> </td>
        <td width="94%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Represents annual fees paid to Blackstone and a limited partner of Holdings under monitoring agreements.</font></p> </td> </tr>
    <tr >
        <td width="5%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(b)</font></p> </td>
        <td width="94%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>The Company is required to adjust EBITDA, as defined above, for the non-recurring items in the table below:</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="60%" STYLE="margin-left:0.25pt; border-collapse:collapse;" ALIGN="Center">
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Four Quarters Ended</font></b><br> <b><font size=1>March 31, 2006</font></b></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="14" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="98" valign=bottom style='border-top:solid black 1.0pt; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0.5pt'><b><font size=1>(In millions)</font></b></p> </td>
        <td width="14" valign=bottom >
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Reorganization and transaction related costs(i)</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0'>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="98" valign=bottom style='background:#AFFED0;padding: 0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>39.4</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=2>Project startup costs(ii)</font></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="98" valign=bottom style='border-bottom: solid black 1.0pt; background:white;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>23.0</font></p> </td>
        <td width="14" valign=bottom style='background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='border-bottom:double black 2.25pt; background:#AFFED0'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>$</font></p> </td>
        <td width="98" valign=bottom style='border-bottom: double black 2.25pt;background: #AFFED0;padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>62.4</font></p> </td>
        <td width="14" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.69%;text-align:justify;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="89%" style='margin-left:50.0pt;border-collapse:collapse'>
    <tr >
        <td width="5%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(i)</font></p> </td>
        <td width="94%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Represents non-recurring costs related to the acquisition of O-I Plastic, global reorganization costs and other costs.</font></p> </td> </tr>
    <tr >
        <td width="5%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(ii)</font></p> </td>
        <td width="94%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Represents non-recurring costs associated with project startups.</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="92%" style='margin-left:.5in;border-collapse:collapse'>
    <tr >
        <td width="4%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(c)</font></p> </td>
        <td width="95%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>The Company is required to adjust EBITDA for synergy cost savings, as defined in the Credit Agreement, and the pro forma impact of acquisitions.</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.69%;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>30</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.69%;text-align:justify;'>
</p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>Under the debt agreements, the Company&#146;s ability to engage in activities such as incurring additional indebtedness, making investments and paying dividends is also tied to ratios based on covenant compliance EBITDA. The Credit Agreement requires that the Company maintain a covenant compliance EBITDA to cash interest ratio starting at a minimum of 1.90x and increasing in increments of .05 to 2.20x in 2010 and a net debt to covenant compliance EBITDA ratio starting at a maximum of 6.75x and decreasing in increments of .25 to 5.00x in 2010, in each case for the most recent four quarter period. The Second-Lien Credit Agreement requires that the Company maintain a covenant compliance EBITDA to cash interest ratio starting at a minimum of 1.65x and increasing in increments of .05 to 1.95x in 2010 and a net debt to covenant compliance EBITDA ratio starting at a maximum of 7.35x and decreasing
in increments of .25 to 5.60x in 2010, in each case for the most recent four quarter period. For the four quarters ended March 31, 2006, the Operating Company&#146;s covenant compliance EBITDA was $457.3 million, which includes $29.1 million of certain required adjustments in accordance with the Company&#146;s Credit Agreements. The covenant compliance EBITDA to cash interest ratio and net debt to covenant compliance EBITDA ratio were 2.42x and 5.58x, respectively, for the four quarters ended March 31, 2006. The ability of the Operating Company to incur additional debt and make certain restricted payments under its Notes is tied to a covenant compliance EBITDA to interest expense ratio of 2.0 to 1, except that the Operating Company may incur certain debt and make certain restricted payments without regard to the ratio, such as up to $2.2 billion under the Credit Agreements and investments equal to 7.5% of the Operating Company&#146;s total assets.</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>Substantially all of the Company&#146;s domestic tangible and intangible assets are pledged as collateral pursuant to the terms of the Credit Agreements.</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>Under the Credit Agreements, the Operating Company is subject to restrictions on the payment of dividends or other distributions to Holdings; provided that, subject to certain limitations, the Operating Company may pay dividends or other distributions to Holdings:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.69%;text-align:justify;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="88%" style='margin-left:.75in;border-collapse:collapse'>
    <tr >
        <td width="3%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0in;text-indent:0in;text-align: left;margin-top:0pt;margin-bottom:0pt'><font size=4><b>&#149;</b></font></p> </td>
        <td width="96%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0in;text-indent:0in;text-align: left;margin-top:0pt;margin-bottom:0pt'><font size=2>in respect of overhead, tax liabilities, legal, accounting and other professional fees and expenses;  and</font></p> </td> </tr>
    <tr >
        <td width="3%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=4><b>&#149;</b></font></p> </td>
        <td width="96%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>to fund purchases and redemptions of equity interests of Holdings or BMP/Graham Holdings Corporation held by then present or former officers or employees of Holdings, the Operating Company or their subsidiaries or by any employee stock ownership plan upon that person&#146;s death, disability, retirement or termination of employment or other circumstances with annual dollar limitations.</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>As market conditions warrant, the Company and its major equityholders, including Blackstone Capital Partners III Merchant Bank Fund L.P. and its affiliates, may from time to time repurchase debt securities issued by the Company, in privately negotiated or open market transactions, by tender offer or otherwise.</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>Cash paid for property, plant and equipment, net of proceeds on sales of property, plant and equipment and excluding acquisitions, for the three months ended March 31, 2006 was $47.4 million. Management believes that capital investment to maintain and upgrade property, plant and equipment is important to remain competitive. Management estimates that on average the annual capital expenditures required to maintain the Company&#146;s current facilities are approximately $55.0 million per year. Additional capital expenditures beyond this amount will be required to expand capacity or improve the cost structure. </font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>For the fiscal year 2006, the Company expects to incur approximately $220.0 million of capital investments.  However, total capital investments will depend on the size and timing of growth related opportunities.  2006 capital investments include restructuring expenditures which are excluded from the capital expenditure covenant in the Credit Agreement.  The Company&#146;s principal sources of cash to fund ongoing operations and capital requirements have been and are expected to continue to be net cash provided by operating activities and borrowings under the Credit Agreement.  Management believes that these sources will be sufficient to fund the Company&#146;s ongoing operations and its foreseeable capital requirements. </font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>On July 9, 2002, the Company and Graham Engineering Corporation (&#147;Graham Engineering&#148;), an affiliated company, executed a First Amendment to the equipment sales, services and license agreement (the &#147;Equipment Sales Agreement&#148;) to, among other things, (i) permit the Company to purchase certain wheels from a third party under certain circumstances if Graham Engineering is provided the opportunity to bid on supplying the same equipment; (ii) clarify that the Company&#146;s exclusivity rights under the Equipment Sales Agreement do not apply to </font></p>

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>31</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>certain new generations of Graham Engineering equipment; (iii) in the event of the sale of Graham Engineering to a competitor, provide the Company the option to require the transfer of the existing agreement or obtain a perpetual, royalty-free license to make and use wheel equipment and components; (iv) provide Graham Engineering with the ability to terminate the Equipment Sales Agreement if an arbitrator determines that the Company has purchased certain high output extrusion blow molding equipment from another supplier in breach of the Equipment Sales Agreement, as amended; and (v) obligate the Company, retroactive to January 1, 2002, and subject to certain credits and carry-forwards, to make payments for products and services to Graham Engineering in the amount of at least $12.0 million per calendar year, or else pay to Graham Engineering a shortfall payment. The Company does not expect to be required to
make a shortfall payment relative to its purchases for 2006.</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>Subsequently, on January 13, 2004, the parties executed a Second Amendment to the Equipment Sales Agreement.  Such amendment removed restrictions originally placed upon the Company with respect to the Company&#146;s use of Graham Engineering technology to manufacture containers at blow molding plants co-located with dairies or dairy-focused facilities.</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>The Equipments Sales Agreement terminates on December 31, 2007, unless mutually extended by the parties.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><b><font size=2>Off-Balance Sheet Arrangements</font></b></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>Other than operating leases, as of March 31, 2006, the Company did not have any off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of SEC Regulation S-K.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.54%;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>32</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
</p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><b><font size=2>Item 3. Quantitative and Qualitative Disclosures About Market Risk</font></b></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>The following table provides disclosure as of March 31, 2006 for financial instruments that have experienced material changes in fair value since December 31, 2005.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td valign=top style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="11" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="16" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>Expected Maturity Date of Interest Rate Swap Agreements at March 31, 2006</font></b></p> </td>
        <td width="9" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><b><font size=1>Fair Value</font></b></p> </td>
        <td width="9" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="11" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="38" valign=bottom style='border-bottom: solid black 1.0pt;background: white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>2006</font></b></p> </td>
        <td width="9" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>2007</font></b></p> </td>
        <td width="11" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>2008</font></b></p> </td>
        <td width="11" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>2009</font></b></p> </td>
        <td width="11" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="38" valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>2010</font></b></p> </td>
        <td width="9" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="49" valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><br> <b><font size=1>Thereafter</font></b></p> </td>
        <td width="9" valign=bottom style='border-top:solid black 1.0pt; background:white'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="43" valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><br> <b><font size=1>Total</font></b></p> </td>
        <td width="9" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 1.0pt; background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>March 31,</font></b><br> <b><font size=1>2006</font></b></p> </td>
        <td width="9" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="11" valign=bottom style='background:white; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="38" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="11" valign=bottom style='background:white; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="5" valign=bottom style=' background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>(Dollars in thousands)</font></b></p> </td>
        <td width="11" valign=bottom style='background:white; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="38" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="49" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="43" valign=bottom style='background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>(1)</font></p> </td>
        <td width="9" valign=bottom style='background:white; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' background:white'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white; '>
            <p style='margin-left:5.0pt;text-indent:-5.0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Derivatives matched against liabilities</font></p> </td>
        <td width="11" valign=bottom style='background:white; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="38" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="46" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="11" valign=bottom style='background:white; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="46" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="11" valign=bottom style='background:white; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="46" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="11" valign=bottom style='background:white; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="38" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="49" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="43" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="53" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0; '>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Pay fixed swaps</font></p> </td>
        <td width="11" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:.0001pt'><font size=2>$</font></p> </td>
        <td width="38" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>100,000</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="46" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>650,000</font></p> </td>
        <td width="11" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="46" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>275,000</font></p> </td>
        <td width="11" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="46" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>&#151;</font></p> </td>
        <td width="11" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="38" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="49" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="43" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>$</font></p> </td>
        <td width="53" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>17,805</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:white; '>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Pay rate</font></p> </td>
        <td width="11" valign=bottom style='background:white; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="38" valign=bottom style='background:white; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>2.80</font></p> </td>
        <td width="9" valign=bottom style='background:white; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>%</font></p> </td>
        <td width="7" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="46" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>3.98</font></p> </td>
        <td width="11" valign=bottom style='background:white; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>%</font></p> </td>
        <td width="7" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="46" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>4.11</font></p> </td>
        <td width="11" valign=bottom style='background:white; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>%</font></p> </td>
        <td width="8" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="46" valign=bottom style='background:white; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>&#151;</font></p> </td>
        <td width="11" valign=bottom style='background:white; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="38" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:white; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="49" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:white; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="43" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:white; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:white; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="53" valign=bottom style='background:white; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:white; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td valign=top style='background:#AFFED0; '>
            <p style='margin-left:8.65pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0.5pt'><font size=2>Receive rate</font></p> </td>
        <td width="11" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="38" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>5.05</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>%</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="46" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=1>5.12</font></p> </td>
        <td width="11" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>%</font></p> </td>
        <td width="7" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="46" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>5.01</font></p> </td>
        <td width="11" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>%</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="46" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in'><font size=2>&#151;</font></p> </td>
        <td width="11" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="38" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="49" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="43" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&#151;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="8" valign=bottom style='background:#AFFED0; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="53" valign=bottom style='background:#AFFED0; padding:0in .7pt 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="9" valign=bottom style='background:#AFFED0; '>
            <p style='margin:0in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:7.69%;text-align:left;'><font size=2>(1) Swaps maturing in 2007 and 2008 are forward starting at expiration of existing swaps; therefore totals are not applicable.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>33</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table width="100%" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse'>
    <tr >
        <td width="58" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=2>Item 4.</font></b></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=2>Controls and Procedures</font></b></p> </td> </tr>
    <tr >
        <td width="58" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="29" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="520" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="58" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="29" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(a)</font></p> </td>
        <td width="520" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Evaluation of Disclosure Controls and Procedures</font></p> </td> </tr>
    <tr >
        <td width="58" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="29" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="520" valign=top >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:8pt;margin-bottom:0pt'><font size=2>The Company&#146;s principal executive officer and principal financial officer evaluated the effectiveness of the Company&#146;s disclosure controls and procedures (as defined in rules 13a-15(e) and 15d-15(e) under the Exchange Act) as of the end of the period covered by this report.  Based on their evaluation and a material weakness in the Company&#146;s internal controls as described below, the Company&#146;s principal executive officer and principal financial officer have concluded the Company&#146;s system of disclosure controls and procedures to be ineffective as of March 31, 2006.  The Company&#146;s principal executive officer and principal financial officer have concluded that the consolidated financial statements included in this Quarterly Report on Form 10-Q fairly present in all material respects the Company&#146;s financial condition,
results of operations and cash flows for the periods presented in conformity with accounting principles generally accepted in the United States of America (&#147;GAAP&#148;).</font></p>
<p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:8pt;margin-bottom:0pt'><font size=2>The Company identified a material weakness in its internal controls related to its income tax accounting.  The Company&#146;s tax structure is complex with significant tax jurisdictions located outside of the United States and the acquisition of O-I Plastic added to the complexity of the tax structure, involved significant issues with regard to purchase accounting and the income tax implications of purchase accounting and significantly added to the Company&#146;s operations in Mexico.  The Company has insufficient, qualified resources to determine that income tax accounting complies with generally accepted accounting principles, particularly as it relates to the tax accounting for the O-I Plastic
acquisition and the tax accounting for its Mexican operations.  This deficiency in the design and operation of internal controls could result in misstatements in the reported amount of deferred income tax balances and in the required disclosures of income tax amounts.  </font></p>
<p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:8pt;margin-bottom:0pt'><font size=2>In response to the above determination, the Company is examining the issue and plans to implement certain remedies, including, among other items, the deployment of greater resources in the area of international income tax accounting and the potential hiring of a qualified individual to oversee international income tax accounting.  During the first quarter of 2006 the Company added two tax professionals to its staff in Mexico.  The Company subjected the first quarter Mexico tax provision to rigorous senior accounting management review to ensure accuracy of the provision and allow these professionals
adequate time to fully assume the tax accounting responsibility in Mexico.  Additionally, the Company is recruiting a manager of international tax to oversee its international income tax accounting.</font></p>
<p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:8pt;margin-bottom:0pt'><font size=2>At this time, the Company is not required to issue an internal control report, or receive an attestation to its internal control report from its independent registered public accounting firm.  Beginning with the Company&#146;s December 31, 2007 Form 10-K, the Company will be subject to this requirement.</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="58" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="29" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="520" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="58" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="29" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(b)</font></p> </td>
        <td width="520" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Changes in Internal Controls</font></p> </td> </tr>
    <tr >
        <td width="58" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="29" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="520" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:8pt;margin-bottom:0pt'><font size=2>There were no changes in the Company&#146;s internal controls or in other factors that could materially affect the Company&#146;s disclosure controls and procedures during the period covered under this report, except as disclosed in Item 4(a) above.</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>34</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'>
</p>


<table border="0" cellspacing=0 cellpadding=0 width="97%" style='border-collapse:collapse'>
    <tr >
        <td width="12%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><B><font SIZE=2>PART II.</font></B></p> </td>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><B><font SIZE=2>OTHER INFORMATION</font></B></p> </td> </tr>
    <tr >
        <td width="12%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="14%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="72%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="12%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=2>Item 6.</font></b></p> </td>
        <td width="14%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=2>Exhibits</font></b></p> </td>
        <td width="72%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="12%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="14%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="72%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="12%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="14%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Exhibit 31.1</font></p> </td>
        <td width="72%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Certification required by Rule 15d-14(a).</font></p> </td> </tr>
    <tr >
        <td width="12%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="14%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Exhibit 31.2</font></p> </td>
        <td width="72%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Certification required by Rule 15d-14(a).</font></p> </td> </tr>
    <tr >
        <td width="12%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="14%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Exhibit 32.1</font></p> </td>
        <td width="72%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.</font></p> </td> </tr>
    <tr >
        <td width="12%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="14%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Exhibit 32.2</font></p> </td>
        <td width="72%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>35</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:46.15%;text-align:justify;'><B><font SIZE=2>SIGNATURE</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.69%;text-align:left;line-height: 150%;'><font size=2>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed by the undersigned, thereunto duly authorized.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Dated:  May 12, 2006</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="50%" style='border-collapse:collapse'>
    <tr >
        <td  colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>GRAHAM PACKAGING HOLDINGS COMPANY</font></p> </td> </tr>
    <tr >
        <td  colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(Registrant)</font></p> </td> </tr>
    <tr >
        <td width="8%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="91%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="8%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>By:</font></p> </td>
        <td width="91%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>BCP/Graham Holdings LLC,</font></p> </td> </tr>
    <tr >
        <td width="8%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="91%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>its General Partner</font></p> </td> </tr>
    <tr >
        <td width="8%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="91%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="8%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="91%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="8%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=2>By:</font></p> </td>
        <td width="91%" valign=top style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>/s/ John E. Hamilton</font></p> </td> </tr>
    <tr >
        <td width="8%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="91%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>John E. Hamilton</font></p> </td> </tr>
    <tr >
        <td width="8%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="91%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Chief Financial Officer</font></p> </td> </tr>
    <tr >
        <td width="8%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="91%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(chief accounting officer and duly authorized officer)</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>36</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>



</BODY>
</HTML>
[{"type": "10-Q", "sequence": "1", "filename": "holdings10q2006-1stq.htm", "description": "GP HOLDINGS 2006 1ST QUARTER 10-Q", "secsgml_size_bytes": 1414006}]
{"company-data": {"conformed-name": "GRAHAM PACKAGING HOLDINGS CO", "cik": "0001061507", "assigned-sic": "3080", "irs-number": "222553000", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "10-Q", "act": "34", "file-number": "333-53603-03", "film-number": "06835628"}, "business-address": {"street1": "2401 PLEASANT VALLEY RD", "city": "YORK", "state": "PA", "zip": "17403", "phone": "7178498500"}, "mail-address": {"street1": "2401 PLEASANT VALLEY RD", "city": "YORK", "state": "PA", "zip": "17402"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549-1004
FORM 10-Q
(Mark One)
[ x ]
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 2006
OR
[   ]
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from ___________________ to _______________________
Commission file number:  333-53603-03
GRAHAM PACKAGING HOLDINGS COMPANY
(Exact name of registrant as specified in its charter)
Pennsylvania
23-2553000
(State or other jurisdication of
incorporation or organization)
(I.R.S. Employer Identificaton No.)
2401 Pleasant Valley Road
York, Pennsylvania 17402
(717) 849-8500
(Address, including zip code, and telephone number, including
area code, of the registrant's principal executive offices)
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes
x
No
o
.
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer.  See definition of "accelerated filer and large accelerated filer" in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer
o
Accelerated filer
o
Non- accelerated filer
x
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes
o
No
x
GRAHAM PACKAGING HOLDINGS COMPANY
INDEX
Page Number
PART I.  FINANCIAL INFORMATION
Item
1:
Condensed Consolidated Financial Statements:
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) –  At March 31, 2006 and December 31, 2005
3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) –  For the three months ended March 31, 2006 and 2005
4
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) –  For the three months ended March 31, 2006 and 2005
5
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)
6
Item
2:
Management's Discussion and Analysis of Financial Condition and Results of Operations
24
Item
3:
Quantitative and Qualitative Disclosures About Market Risk
33
Item
4:
Controls and Procedures
34
PART II. OTHER INFORMATION
Item
6:
Exhibits
35
Signature
36
2
PART I.  FINANCIAL INFORMATION
Item 1. Condensed Consolidated Financial Statements
GRAHAM PACKAGING HOLDINGS COMPANY
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
March 31,
2006
December 31,
2005
(In thousands)
ASSETS
Current assets:
Cash and cash equivalents
$
14,880
$
26,684
Accounts receivable, net
286,317
251,357
Inventories
273,121
287,810
Deferred income taxes
15,860
13,069
Prepaid expenses and other current assets
51,179
50,997
Total current assets
641,357
629,917
Property, plant and equipment, net
1,448,302
1,443,460
Intangible assets, net
80,130
81,633
Goodwill
316,736
317,171
Other non-current assets
87,037
90,197
Total assets
$
2,573,562
$
2,562,378
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)
Current liabilities:
Accounts payable
$
229,557
$
177,600
Accrued expenses
216,870
176,432
Current portion of long-term debt
23,275
27,859
Total current liabilities
469,702
381,891
Long-term debt
2,543,475
2,610,481
Deferred income taxes
17,358
22,593
Other non-current liabilities
41,206
41,123
Commitments and contingent liabilities (see Note 12)
—
—
Partners' capital (deficit):
General partners
(25,445
)
(24,946
)
Limited partners
(487,993
)
(478,513
)
Notes and interest receivable for ownership interests
(3,150
)
(3,102
)
Accumulated other comprehensive income
18,409
12,851
Total partners' capital (deficit)
(498,179
)
(493,710
)
Total liabilities and partners' capital (deficit)
$
2,573,562
$
2,562,378
See accompanying notes to condensed consolidated financial statements.
3
GRAHAM PACKAGING HOLDINGS COMPANY
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
Three Months Ended
March 31,
2006
2005
(In thousands)
Net sales
$
645,007
$
620,539
Cost of goods sold
576,497
542,095
Gross profit
68,510
78,444
Selling, general and administrative expenses
31,105
34,295
Impairment charges
—
1,605
Operating income
37,405
42,544
Interest expense, net
50,385
42,774
Other expense, net
37
337
Loss before income taxes and minority interest
(13,017
)
(567
)
Income tax (benefit) provision
(3,031
)
10,426
Minority interest
—
544
Net loss
$
(9,986
)
$
(11,537
)
Net loss allocated to general partners
$
(499
)
$
(577
)
Net loss allocated to limited partners
$
(9,487
)
$
(10,960
)
See accompanying notes to condensed consolidated financial statements.
4
GRAHAM PACKAGING HOLDINGS COMPANY
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
Three Months Ended
March 31,
2006
2005
(In thousands)
Operating activities:
Net loss
$
(9,986
)
$
(11,537
)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization
50,786
52,553
Amortization of debt issuance fees
2,636
2,597
Net loss on disposal of fixed assets
580
334
Impairment charges
—
1,605
Stock compensation expense
6
102
Minority interest
—
544
Foreign currency transaction (gain) loss
(468
)
386
Interest receivable for ownership interests
(48
)
(45
)
Changes in operating assets and liabilities, net of acquisition of business:
Accounts receivable
(34,004
)
(57,729
)
Inventories
14,860
2,835
Prepaid expenses and other current assets
1,698
5,379
Other non-current assets and liabilities
(5,603
)
8,787
Accounts payable and accrued expenses
86,615
34,774
Net cash provided by operating activities
107,072
40,585
Investing activities:
Cash paid for property, plant and equipment
(47,744
)
(62,556
)
Proceeds from sale of property, plant and equipment
371
151
Acquisition of/investment in business, net of cash acquired
(30
)
(32,961
)
Net cash used in investing activities
(47,403
)
(95,366
)
Financing activities:
Proceeds from issuance of long-term debt
133,671
268,776
Payment of long-term debt
(205,478
)
(219,279
)
Debt issuance fees
(31
)
(435
)
Net cash (used in) provided by financing activities
(71,838
)
49,062
Effect of exchange rate changes
365
(839
)
Decrease in cash and cash equivalents
(11,804
)
(6,558
)
Cash and cash equivalents at beginning of period
26,684
22,131
Cash and cash equivalents at end of period
$
14,880
$
15,573
Supplemental disclosures
Cash paid for interest, net of amounts capitalized
$
21,940
$
16,655
Cash paid for taxes
$
2,696
$
1,417
Non-cash investing and financing activities:
Return of purchase price related to the acquisition of O-I Plastic (see Note 10)
$
—
$
38,900
See accompanying notes to condensed consolidated financial statements.
5
GRAHAM PACKAGING HOLDINGS COMPANY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)
1.
Basis of Presentation
The accompanying unaudited condensed consolidated financial statements of Graham Packaging Holdings Company ("Holdings"), a Pennsylvania limited partnership, have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X and therefore do not include all of the information and footnotes required by generally accepted accounting principles for complete annual financial statements. In the opinion of the management of the Company ("Management"), all adjustments (consisting only of usual recurring adjustments considered necessary for a fair presentation) are reflected in the condensed consolidated financial statements. The condensed consolidated balance sheet as of December 31, 2005 is derived from audited financial statements. The condensed consolidated
financial statements and notes included in this report should be read in conjunction with the audited consolidated financial statements and notes for the year ended December 31, 2005. The results of operations for the three months ended March 31, 2006 are not necessarily indicative of the results to be expected for the full year ending December 31, 2006.
All entities and assets owned by Holdings are referred to collectively as the "Company."  Graham Packaging Company, L.P. is referred to as the "Operating Company."
Derivatives
During 2003, the Company entered into four interest rate swap agreements (three of which matured in the first quarter of 2006) under which the Company (for the remaining swap) receives variable interest based on the Eurodollar Rate (the applicable interest rate offered to banks in the London interbank eurocurrency market) and pays fixed interest at a weighted average rate of 2.80%, on $100.0 million of term loans. During 2004, the Company entered into four additional interest rate swap agreements, under which the Company receives variable interest based on the Eurodollar rate and pays fixed interest at a weighted average rate of 3.89%, on $700.0 million of term loans. During 2005, the Company entered into three additional interest rate swap agreements, under which the Company receives variable interest based on the Eurodollar rate and pays fixed interest at a weighted average rate of 4.43%,
on $225.0 million of term loans. The interest rate swaps are accounted for as cash flow hedges. The hedges are highly effective as defined in Statement of Financial Accounting Standards ("SFAS") 133, "Accounting for Derivative Instruments and Hedging Activities."  The effective portion of the cash flow hedges is recorded in other comprehensive income ("OCI") and was an unrealized gain of $3.3 million and $9.7 million for the three months ended March 31, 2006 and 2005, respectively. Approximately 59% of the amount recorded within OCI as of March 31, 2006 is expected to be recognized in interest expense in the next twelve months. Failure to properly document the Company's interest rate swaps as effective hedges would result in income statement recognition of all or part of the cumulative $17.8 million unrealized gain recorded in accumulated OCI as of March 31, 2006.
Comprehensive Loss
Changes in fair value of derivatives designated and accounted for as cash flow hedges, additional minimum pension liability adjustments and foreign currency translation adjustments are included in OCI and added with net loss to determine total comprehensive loss.
6
GRAHAM PACKAGING HOLDINGS COMPANY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued
The components of accumulated other comprehensive income (loss) consisted of:
Cash Flow
Hedges
Additional
Minimum Pension
Liability
Cumulative
Translation
Adjustments
Total
(In thousands)
Balance at January 1, 2005
$
3,385
$
(4,275
)
$
20,798
$
19,908
Change
11,129
(1,060
)
(17,126
)
(7,057
)
Balance at December 31, 2005
14,514
(5,335
)
3,672
12,851
Change
3,291
5
2,262
5,558
Balance at March 31, 2006
$
17,805
$
(5,330
)
$
5,934
$
18,409
Option Plans
In December 2004, the Financial Accounting Standards Board ("FASB") issued SFAS 123(R), "Share-Based Payment." SFAS 123(R) revises SFAS 123, "Accounting for Stock-Based Compensation," and requires companies to expense the fair value of employee stock options and other forms of stock-based compensation. Under SFAS 123(R), companies are to (1) use fair value to measure stock-based compensation awards and (2) cease using the "intrinsic value" method of accounting, which Accounting Principles Board Opinion ("APB") 25, "Accounting for Stock Issued to Employees," allowed and resulted in no expense for many awards of stock options for which the exercise price of the option equaled the price of the underlying stock at the grant date. In addition, SFAS 123(R) retains the modified grant date model from SFAS 123. Under that model, compensation
cost is measured at the fair value of an award on the grant date and adjusted to reflect estimated forfeitures and the outcome of certain conditions. The fair value of an award is not re-measured after its initial estimation on the grant date (except in the case of a liability award or if the award is modified). The Company adopted SFAS 123(R) on January 1, 2006 using the prospective method.  In accordance with SFAS 123(R), the Company applied this statement prospectively to new awards and awards modified, repurchased or cancelled after January 1, 2006.  The adoption of SFAS 123(R) has not had a significant impact on the Company's results of operations or financial position.
The Company continued to account for equity based compensation to employees for awards outstanding as of January 1, 2006 using the intrinsic value method prescribed in APB 25.  SFAS 123 established accounting and disclosure requirements using a fair value based method of accounting for equity based employee compensation plans. The exercise prices of all units were equal to or greater than the fair market value of the units on the dates of the grants and, accordingly, no compensation cost has been recognized under the provisions of APB 25. Under SFAS 123, compensation cost is measured at the grant date based on the value of the award and is recognized over the service (or vesting) period. Had compensation cost for all option plans been determined under SFAS 123, based on the fair market value at the grant dates, the Company's pro forma net loss for the three months ended March 31, 2006
and 2005 would have been reflected as follows:
Three Months Ended
March 31,
2006
2005
(In thousands)
As reported
$
(9,986
)
$
(11,537
)
Pro forma
(10,285
)
(11,839
)
There were no options granted during the three months ended March 31, 2006.  The weighted average fair value at date of grant for options granted during the three months ended March 31, 2005 was $7,748 per option.  The fair value of each option is estimated on the date of the grant using the Minimum Value option pricing model with the following weighted-average assumptions:
7
GRAHAM PACKAGING HOLDINGS COMPANY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued
Three Months Ended
March 31, 2005
Dividend yield
0
%
Expected volatility
0
%
Risk free interest rate
3.65
%
Expected option life (in years)
4.5
Forfeiture rate
N/A
A summary of the changes in the option units outstanding under the option plans as of March 31, 2006 is as follows:
Units
Under
Option
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual Term
(in years)
Aggregate
Intrinsic Value
(in millions)
Outstanding at January 1, 2006
1,228.0
$
38,861
Granted
—
—
Exercised
—
—
Forfeited
—
—
Outstanding at March 31, 2006
1,228.0
38,861
5.9
$
18.5
Exercisable at March 31, 2006
648.8
32,166
4.2
N/A
Inventory Cost
In November 2004, the FASB issued SFAS 151, "Inventory Costs – an amendment of APB No. 43, Chapter 4," which is the result of its efforts to converge U.S. accounting standards for inventories with International Accounting Standards. SFAS 151 requires abnormal amounts of idle facility expense, freight, handling costs and wasted material (spoilage) to be recognized as current-period charges. It also requires that allocation of fixed production overheads to the costs of conversion be based on the normal capacity of the production facilities.  The Company adopted SFAS 151 on January 1, 2006 and the adoption of SFAS 151 has not had a significant impact on its results of operations or financial position.
Retirement Obligations
In March 2005, the FASB issued FASB Interpretation No. ("FIN") 47, "Accounting for Conditional Asset Retirement Obligations, an Interpretation of FASB No. 143."  This statement clarifies that an entity is required to recognize a liability for the fair value of a conditional asset retirement obligation when incurred, if the liability's fair value can be reasonably estimated.  The Company adopted FIN 47 on December 31, 2005 and the adoption of FIN 47 has not had a significant impact on its results of operations or financial position.
Reclassifications
Certain reclassifications have been made to the 2005 financial statements to conform to the 2006 presentation, including a reclassification reducing the outflow for changes in accounts receivable and reducing the inflow for changes in prepaid expenses and other current assets by $1.7 million on the March 31, 2005 Condensed Consolidated Statement of Cash Flows and a reclassification increasing cost of goods sold and decreasing selling, general and administrative expenses by $1.1 million on the March 31, 2005 Condensed Consolidated Statement of Operations.
8
GRAHAM PACKAGING HOLDINGS COMPANY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued
2.
Debt Arrangements
Long-term debt consisted of the following:
March 31,
2006
December 31,
2005
(In thousands)
Term loans
$
1,781,875
$
1,785,500
Revolving Credit Facility
125,000
187,500
Foreign and other revolving credit facilities
3,241
7,472
Senior Notes
250,000
250,000
Senior Subordinated Notes
375,000
375,000
Capital leases
29,968
31,605
Other
1,666
1,263
2,566,750
2,638,340
Less amounts classified as current
23,275
27,859
$
2,543,475
$
2,610,481
In connection with the acquisition of the blow molded plastic container business of Owens-Illinois, Inc. ("O-I Plastic") (see Note 10) on October 7, 2004, the Operating Company, Holdings, GPC Capital Corp. I ("CapCo I") and a syndicate of lenders entered into a first-lien credit agreement (the "Credit Agreement") and a second-lien credit agreement (the "Second-Lien Credit Agreement" and, together with the Credit Agreement, the "Credit Agreements"). Pursuant to its terms, on April 18, 2006, the Credit Agreement was amended in order to, among other things, increase the B Term Loan facility provided under the Credit Agreement by $150.0 million.  Proceeds of the Amendment were used to pay down $100.0 million of the Second-Lien Credit Agreement, with the remaining $50.0 million being used to reduce outstanding borrowings on the existing revolving
credit facility provided for under the Credit Agreement.  After giving effect to the April 18, 2006 Second Amendment to the Credit Agreement, the Credit Agreements consist of a senior secured term loan B to the Operating Company totaling $1,581.9 million, a second-lien term loan totaling $250.0 million (the "Term Loans" or "Term Loan Facilities") and a $250.0 million revolving credit facility (the "Revolving Credit Facility"). The obligations of the Operating Company and CapCo I under the Credit Agreements are guaranteed by Holdings and certain other subsidiaries of Holdings.  After giving effect to the April 18, 2006 Second Amendment to the Credit Agreement, the term loan B is payable in quarterly installments and requires payments of $15.6 million in 2006 and $16.0 million in each of 2007, 2008, 2009 and 2010 and $1,505.8 million in 2011. The second-lien term loan is payable in 2012. The Revolving Credit Facility expires on October 7, 2010. Interest on
the Credit Agreement is payable at (a) the "Alternate Base Rate" ("ABR") (the higher of the Prime Rate or the Federal Funds Rate plus 0.50%) plus a margin ranging from 1.25% to 1.75%; or (b) the "Eurodollar Rate" (the applicable interest rate offered to banks in the London interbank eurocurrency market) plus a margin ranging from 2.00% to 2.75%. A commitment fee of 0.50% is due on the unused portion of the revolving loan commitment. Interest on the Second-Lien Credit Agreement is payable at (a) the ABR plus a margin of 3.25%; or (b) the "Eurodollar Rate" plus a margin of 4.25%. In addition, the Credit Agreements contain certain affirmative and negative covenants as to the operations and financial condition of the Company, as well as certain restrictions on the payment of dividends and other distributions to Holdings. As of March 31, 2006, the Company was in compliance with all covenants. The unused availability of the Revolving Credit Facility
at March 31, 2006 was $115.4 million (as reduced by $9.6 million of outstanding letters of credit and before giving effect to the April 18, 2006 Second Amendment to the Credit Agreement).
Substantially all domestic tangible and intangible assets of the Company are pledged as collateral pursuant to the terms of the Credit Agreements.
The acquisition of O-I Plastic and the related refinancing of the indebtedness of the Company also included the issuance of $250.0 million in Senior Notes of the Operating Company and $375.0 million in Senior Subordinated Notes of the Operating Company (collectively "the Notes"). The Notes are unconditionally guaranteed, jointly and severally, by Holdings and domestic subsidiaries of the Operating Company and mature on October 7, 2012 (Senior Notes) and October 7, 2014 (Senior Subordinated Notes). Interest on the Senior Notes is payable semi-annually at 8.50% and interest on the Senior Subordinated Notes is payable semi-annually at 9.875%.
9
GRAHAM PACKAGING HOLDINGS COMPANY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued
3.
Accounts Receivable, Net
The Company had sales to one customer which exceeded 10% of total sales for the three months ended March 31, 2006 and 2005.  The Company's sales to this customer were 18.1% and 19.3% of total sales for the three months ended March 31, 2006 and 2005, respectively.  For the three months ended March 31, 2006 and 2005, approximately 100% and 98%, respectively, of the sales to this customer were made in North America.
4.
Inventories
Inventories consisted of the following:
March 31,
2006
December 31,
2005
(In thousands)
Finished goods
$
186,512
$
195,533
Raw materials and parts
86,609
92,277
$
273,121
$
287,810
5.
Impairment Charges
In 2005, due to a change in the ability to utilize certain assets in the U.S., the Company evaluated the recoverability of these assets. For these assets to be held and used, the Company determined that the undiscounted cash flows were below the carrying value of these long-lived assets. Accordingly, the Company adjusted the carrying values of these long-lived assets to their estimated fair values in accordance with SFAS 144, "Accounting for the Impairment or Disposal of Long-Lived Assets," resulting in impairment charges of $1.6 million for the three months ended March 31, 2005.
6.
Intangible Assets, Net
The gross carrying amount and accumulated amortization of the Company's intangible assets subject to amortization as of March 31, 2006 were as follows:
Gross Carrying
Amount
Accumulated
Amortization
Net
Amortization
period
(Amounts in thousands)
Patented technology
$
23,354
$
(3,334
)
$
20,020
9 to 13.5 years
Customer relationships
38,204
(3,326
)
34,878
3.75 to 20 years
Licensing agreements
28,000
(3,818
)
24,182
11 years
Non-compete agreement
1,500
(450
)
1,050
5 years
Total
$
91,058
$
(10,928
)
$
80,130
The gross carrying amount and accumulated amortization of the Company's intangible assets subject to amortization as of December 31, 2005 were as follows:
10
GRAHAM PACKAGING HOLDINGS COMPANY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued
Gross Carrying
Amount
Accumulated
Amortization
Net
Amortization
period
(Amounts in thousands)
Patented technology
$
23,169
$
(2,822
)
$
20,347
9 to 13.5 years
Customer relationships
38,130
(2,787
)
35,343
3.75 to 20 years
Licensing agreements
28,000
(3,182
)
24,818
11 years
Non-compete agreement
1,500
(375
)
1,125
5 years
Total
$
90,799
$
(9,166
)
$
81,633
Amortization expense for the three months ended March 31, 2006 and 2005 was $1.8 million and $1.7 million, respectively.
7.
Goodwill
The changes in the carrying amount of goodwill were as follows:
North
America
Segment
Europe
Segment
South
America
Segment
Total
(In thousands)
Balance at December 31, 2005
$
288,158
$
17,278
$
11,735
$
317,171
Foreign currency translation and other adjustments
(676
)
180
61
(435
)
Balance at March 31, 2006
$
287,482
$
17,458
$
11,796
$
316,736
8.
Accrued Expenses
Accrued expenses consisted of the following:
March 31,
2006
December 31,
2005
(In thousands)
Accrued employee compensation and benefits
$
62,251
$
60,748
Accrued interest
46,174
20,281
Accrued sales allowance
27,094
18,774
Other
81,351
76,629
$
216,870
$
176,432
For the year ended December 31, 2005, the Company incurred costs of employee termination benefits in the United States of $2.3 million, which included the legal liability of severing 16 employees, all of which were terminated as of March 31, 2006.  Substantially all of the cash payments for these termination benefits are expected to be made by December 31, 2007.  For the year ended December 31, 2005, the Company incurred costs of employee termination benefits in France of $3.8 million, which included the legal liability of severing 35 employees, none of which were terminated as of March 31, 2006.  Substantially all of the cash payments for these termination benefits are expected to be made by December 31, 2006.
The following table reflects a rollforward of these costs, primarily included in accrued employee compensation and benefits (in thousands):
11
GRAHAM PACKAGING HOLDINGS COMPANY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued
2002/2003
France
Reduction
in Force
2003
North
America
Reduction
in Force
2005
United States
Reduction
in Force
2005
France
Reduction
in Force
Total
Reserves at December 31, 2005
$
399
$
472
$
1,571
$
3,845
$
6,287
Increase in reserves
52
—
101
—
153
Cash payments
(3
)
(53
)
(332
)
(108
)
(496
)
Reserves at March 31, 2006
$
448
$
419
$
1,340
$
3,737
$
5,944
9.
Income Taxes
Holdings and the Operating Company, as limited partnerships, do not pay U.S. federal income taxes under the provisions of the Internal Revenue Code, as the applicable income or loss is included in the tax returns of the partners. However, certain U.S. subsidiaries acquired as part of O-I Plastic are corporations and are subject to U.S. federal and state income taxes. The Company's foreign operations are subject to tax in their local jurisdictions. Deferred income tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and are measured using enacted tax rates expected to apply to taxable income in the years in which the temporary differences are expected to reverse.
10.
Acquisitions
Purchase of O-I Plastic
On October 7, 2004, the Company acquired O-I Plastic. With this acquisition the Company essentially doubled in size.
The Company acquired O-I Plastic for a total purchase price (including acquisition-related costs) of $1,191.8 million. The acquisition was recorded under the purchase method of accounting and, accordingly, the results of the acquired operation are included in the financial statements of the Company beginning on October 7, 2004. The purchase price has been allocated to assets acquired and liabilities assumed based on fair values. The allocated fair value of assets acquired and liabilities assumed is summarized as follows (in thousands):
Cash
$
10,860
Accounts receivable
130,023
Inventories
140,771
Deferred income taxes
11,402
Prepaid expenses and other current assets
11,312
Total current assets
304,368
Property, plant and equipment
679,303
Intangible assets
81,000
Goodwill
294,728
Other non-current assets
6,212
Total
1,365,611
Less liabilities assumed
173,836
Net cost of acquisition
$
1,191,775
The purchase agreement related to O-I Plastic contains a stated purchase price of $1,200.0 million, which was paid on October 7, 2004, subject to adjustments based on the level of working capital acquired, indebtedness assumed and certain other measures. The Company and the sellers resolved these adjustments to the purchase price
12
GRAHAM PACKAGING HOLDINGS COMPANY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued
in April 2005, resulting in a return to the Company of $38.9 million. In addition, the purchase agreement provides information on certain net operating loss carryforwards for U.S. federal income tax purposes ("NOL's") that are allocated from the sellers to O-I Plastic. The amount of such NOL's (including the amount allocated from the sellers to O-I Plastic on the sellers' 2004 federal income tax return) was $157.5 million.  A deferred income tax benefit of $61.8 million related to the NOL's has been included in the purchase price allocation above.
Purchase of Certain Tetra-Pak Operations
On March 24, 2005, the Company acquired certain operations from Tetra-Pak Inc., Tetra Pak Moulded Packaging Systems Limited, Tetra Pak S.R.L., Tetra Pak MPS N.V., Tetra Pak LTDA and Tetra Pak Paketleme Sanayi Ve Ticaret A.S. for a total purchase price (including acquisition-related costs) of $36.8 million. The acquisition was recorded under the purchase method of accounting and, accordingly, the results of the acquired operation are included in the financial statements of the Company beginning on March 24, 2005. The purchase price has been allocated to assets acquired and liabilities assumed based on fair values. The allocated fair value of assets acquired and liabilities assumed is summarized as follows (in thousands):
Accounts receivable
$
2,916
Inventories
915
Prepaid expenses and other current assets
64
Total current assets
3,895
Property, plant and equipment
26,023
Intangible assets
3,980
Goodwill
4,676
Total
38,574
Less liabilities assumed
1,764
Net cost of acquisition
$
36,810
Pro Forma Information
The following table sets forth unaudited pro forma results of operations, assuming that all of the above acquisitions had taken place at the beginning of each period presented:
Three Months Ended
March 31,
2006
2005
(In millions)
As reported – net sales
$
645
$
621
Pro forma – net sales
645
626
As reported – net loss
(10
)
(12
)
Pro forma – net loss
(10
)
(10
)
These unaudited pro forma results have been prepared for comparative purposes only and include certain adjustments, such as adjustments to depreciation and amortization expense as a result of adjustments in the basis of fixed assets and intangible assets, increased interest expense on acquisition debt and related tax effects. They do not purport to be indicative of the results of operations which actually would have resulted had the combinations been in effect at the beginning of each period presented, or of future results of operations of the entities.
In March 2005, the Company executed a Purchase and Sale of Equity Interest and Joint Venture Termination Agreement under which the Company terminated the joint venture agreement with Industrias Innopack, S.A. de C.V. and acquired all of the equity interests held by Industrias Innopack, S.A. de C.V. in Graham Innopack de Mexico, S. de R.L. de C.V. ("Graham Innopack") and the operating companies thereunder.  Closing of this transaction occurred on May 9, 2005, resulting in a payment by the Company of $13.9 million for the 49% interest in Graham Innopack that it did not previously own.
13
GRAHAM PACKAGING HOLDINGS COMPANY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued
11.
Lease Commitments
The Company is a party to various leases involving real property and equipment. Total rent expense for operating leases amounted to $13.6 million and $12.5 million for the three months ended March 31, 2006 and 2005, respectively.
12.
Contingencies
The Company is party to various litigation matters arising in the ordinary course of business. The ultimate legal and financial liability of the Company with respect to such litigation cannot be estimated with certainty, but management believes, based on its examination of these matters, experience to date and discussions with counsel, that ultimate liability from the Company's various litigation matters will not be material to the business, financial condition, results of operations or cash flows of the Company.
On July 9, 2002, the Company and Graham Engineering Corporation ("Graham Engineering"), an affiliated company, executed a First Amendment to the equipment sales, services and license agreement (the "Equipment Sales Agreement") to, among other things, (i) permit the Company to purchase certain wheels from a third party under certain circumstances if Graham Engineering is provided the opportunity to bid on supplying the same equipment; (ii) clarify that the Company's exclusivity rights under the Equipment Sales Agreement do not apply to certain new generations of Graham Engineering equipment; (iii) in the event of the sale of Graham Engineering to a competitor, provide the Company the option to require the transfer of the existing agreement or obtain a perpetual, royalty-free license to make and use wheel equipment and components; (iv) provide Graham Engineering with
the ability to terminate the Equipment Sales Agreement if an arbitrator determines that the Company has purchased certain high output extrusion blow molding equipment from another supplier in breach of the Equipment Sales Agreement, as amended; and (v) obligate the Company, retroactive to January 1, 2002, and subject to certain credits and carry-forwards, to make payments for products and services to Graham Engineering in the amount of at least $12.0 million per calendar year, or else pay to Graham Engineering a shortfall payment.  The Company does not expect to be required to make a shortfall payment relative to its purchases for 2006.
Subsequently, on January 13, 2004, the parties executed a Second Amendment to the Equipment Sales Agreement.  Such amendment removed restrictions originally placed upon the Company with respect to the Company's use of Graham Engineering technology to manufacture containers at blow molding plants co-located with dairies or dairy-focused facilities.
The Equipment Sales Agreement terminates on December 31, 2007, unless mutually extended by the parties.
13.
Condensed Guarantor Data
On October 7, 2004, the Operating Company and CapCo I co-issued $250.0 million aggregate principal amount of 8½% Senior Notes due 2012 and $375.0 million aggregate principal amount of 9?% Senior Subordinated Notes due 2014. The notes were issued under Indentures issued on October 7, 2004. Holdings and domestic subsidiaries of the Operating Company have fully and unconditionally guaranteed these notes. These guaranties are both joint and several. Both the Operating Company and CapCo I are 100%-owned subsidiaries of Holdings.
The following unaudited condensed consolidating financial statements present the financial position, results of operations and cash flows of Holdings, the Operating Company, guarantor domestic subsidiaries of the Operating Company, non-guarantor subsidiaries and CapCo I.
14
GRAHAM PACKAGING HOLDINGS COMPANY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued
GRAHAM PACKAGING HOLDINGS COMPANY
CONDENSED CONSOLIDATING BALANCE SHEET
AS OF MARCH 31, 2006
(In thousands)
Graham
Packaging
Holdings
Company
Graham
Packaging
Company,
L.P.
Guarantors
Non-
Guarantors
GPC
Capital
Corp. I
Eliminations
Consolidated
ASSETS
Current assets:
Cash and cash equivalents
$
—
$
6,010
$
1
$
8,869
$
—
$
—
$
14,880
Accounts receivable, net
—
96,532
124,129
65,656
—
—
286,317
Inventories
—
93,861
133,751
45,509
—
—
273,121
Deferred income taxes
—
—
8,730
7,130
—
—
15,860
Prepaid expenses and other current assets
—
14,964
14,323
21,892
—
—
51,179
Total current assets
—
211,367
280,934
149,056
—
—
641,357
Property, plant and equipment, net
—
571,989
591,913
284,400
—
—
1,448,302
Intangible assets, net
—
4,432
71,653
4,045
—
—
80,130
Goodwill
—
9,270
236,921
70,545
—
—
316,736
Net intercompany
—
1,193,146
—
—
—
(1,193,146
)
—
Investment in subsidiaries
—
407,887
295,079
—
—
(702,966
)
—
Other non-current assets
—
80,272
804
5,961
—
—
87,037
Total assets
$
—
$
2,478,363
$
1,477,304
$
514,007
$
—
$
(1,896,112
)
$
2,573,562
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)
Current liabilities:
Accounts payable
$
—
$
96,378
$
87,200
$
45,979
$
—
$
—
$
229,557
Accrued expenses
—
114,250
51,798
50,822
—
—
216,870
Current portion of long-term debt
—
19,507
—
3,768
—
—
23,275
Total current liabilities
—
230,135
138,998
100,569
—
—
469,702
Long-term debt
—
2,542,609
—
866
—
—
2,543,475
Deferred income taxes
—
—
5,212
12,146
—
—
17,358
Other non-current liabilities
—
16,708
13,774
10,724
—
—
41,206
Investment in subsidiaries
311,089
—
—
—
—
(311,089
)
—
Net intercompany
187,090
—
963,750
42,306
—
(1,193,146
)
—
Commitments and contingent liabilities
—
—
—
—
—
—
—
Partners' capital (deficit)
(498,179
)
(311,089
)
355,570
347,396
—
(391,877
)
(498,179
)
Total liabilities and partners' capital (deficit)
$
—
$
2,478,363
$
1,477,304
$
514,007
$
—
$
(1,896,112
)
$
2,573,562
15
GRAHAM PACKAGING HOLDINGS COMPANY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued
GRAHAM PACKAGING HOLDINGS COMPANY
CONDENSED CONSOLIDATING BALANCE SHEET
AS OF DECEMBER 31, 2005
(In thousands)
Graham Packaging Holdings
Company
Graham Packaging
Company,
L.P.
Guarantors
Non-
Guarantors
GPC
Capital
Corp. I
Eliminations
Consolidated
ASSETS
Current assets:
Cash and cash equivalents
$
—
$
11,307
$
1
$
15,376
$
—
$
—
$
26,684
Accounts receivable, net
—
79,454
102,758
69,145
—
—
251,357
Inventories
—
93,205
145,121
49,484
—
—
287,810
Deferred income taxes
—
—
8,730
4,339
—
—
13,069
Prepaid expenses and other current assets
—
17,928
11,257
21,812
—
—
50,997
Total current assets
—
201,894
267,867
160,156
—
—
629,917
Property, plant and equipment, net
—
562,817
597,196
283,447
—
—
1,443,460
Intangible assets, net
—
4,331
73,212
4,090
—
—
81,633
Goodwill
—
9,240
236,921
71,010
—
—
317,171
Net intercompany
—
1,221,017
—
—
—
(1,221,017
)
—
Investment in subsidiaries
—
413,433
296,544
—
—
(709,977
)
—
Other non-current assets
—
82,306
897
6,994
—
—
90,197
Total assets
$
—
$
2,495,038
$
1,472,637
$
525,697
$
—
$
(1,930,994
)
$
2,562,378
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)
Current liabilities:
Accounts payable
$
—
$
68,294
$
49,471
$
59,835
$
—
$
—
$
177,600
Accrued expenses
—
85,270
45,876
45,286
—
—
176,432
Current portion of long-term debt
—
21,025
—
6,834
—
—
27,859
Total current liabilities
—
174,589
95,347
111,955
—
—
381,891
Long-term debt
—
2,609,618
—
863
—
—
2,610,481
Deferred income taxes
—
—
11,031
11,562
—
—
22,593
Other non-current liabilities
—
17,451
12,626
11,046
—
—
41,123
Investment in subsidiaries
306,620
—
—
—
—
(306,620
)
—
Net intercompany
187,090
—
988,412
45,515
—
(1,221,017
)
—
Commitments and contingent liabilities
—
—
—
—
—
—
—
Partners' capital (deficit)
(493,710
)
(306,620
)
365,221
344,756
—
(403,357
)
(493,710
)
Total liabilities and partners' capital (deficit)
$
—
$
2,495,038
$
1,472,637
$
525,697
$
—
$
(1,930,994
)
$
2,562,378
16
GRAHAM PACKAGING HOLDINGS COMPANY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued
GRAHAM PACKAGING HOLDINGS COMPANY
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
FOR THE THREE MONTHS ENDED MARCH 31, 2006
(In thousands)
Graham
Packaging
Holdings
Company
Graham
Packaging
Company,
L.P.
Guarantors
Non-
Guarantors
GPC
Capital
Corp. I
Eliminations
Consolidated
Net sales
$
—
$
277,507
$
275,071
$
111,614
$
—
$
(19,185
)
$
645,007
Cost of goods sold
—
235,617
259,794
100,271
—
(19,185
)
576,497
Gross profit
—
41,890
15,277
11,343
—
—
68,510
Selling, general and administrative expenses
—
12,997
11,689
6,419
—
—
31,105
Operating income
—
28,893
3,588
4,924
—
—
37,405
Interest expense, net
—
30,826
18,211
1,348
—
—
50,385
Other (income) expense, net
—
(340
)
(79
)
456
—
—
37
Equity in loss of subsidiaries
9,986
8,393
2,976
—
—
(21,355
)
—
(Loss) income before income taxes and minority interest
(9,986
)
(9,986
)
(17,520
)
3,120
—
21,355
(13,017
)
Income tax (benefit) provision
—
—
(5,809
)
2,778
—
—
(3,031
)
Net (loss) income
$
(9,986
)
$
(9,986
)
$
(11,711
)
$
342
$
—
$
21,355
$
(9,986
)
17
GRAHAM PACKAGING HOLDINGS COMPANY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued
GRAHAM PACKAGING HOLDINGS COMPANY
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
FOR THE THREE MONTHS ENDED MARCH 31, 2005
(In thousands)
Graham
Packaging
Holdings
Company
Graham
Packaging
Company,
L.P.
Guarantors
Non-
Guarantors
GPC
Capital
Corp. I
Eliminations
Consolidated
Net sales
$
—
$
243,177
$
275,667
$
116,465
$
—
$
(14,770
)
$
620,539
Cost of goods sold
—
214,713
242,311
99,841
—
(14,770
)
542,095
Gross profit
—
28,464
33,356
16,624
—
—
78,444
Selling, general and administrative expenses
—
27,572
874
5,849
—
—
34,295
Impairment charges
—
1,605
—
—
—
—
1,605
Operating (loss) income
—
(713
)
32,482
10,775
—
—
42,544
Interest expense, net
—
27,027
14,849
898
—
—
42,774
Other expense, net
—
71
53
213
—
—
337
Equity in loss (earnings) of subsidiaries
11,537
(16,322
)
(3,484
)
—
—
8,269
—
(Loss) income before income taxes and minority interest
(11,537
)
(11,489
)
21,064
9,664
—
(8,269
)
(567
)
Income tax provision
—
48
6,858
3,520
—
—
10,426
Minority interest
—
—
—
544
—
—
544
Net (loss) income
$
(11,537
)
$
(11,537
)
$
14,206
$
5,600
$
—
$
(8,269
)
$
(11,537
)
18
GRAHAM PACKAGING HOLDINGS COMPANY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued
GRAHAM PACKAGING HOLDINGS COMPANY
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE THREE MONTHS ENDED MARCH 31, 2006
(In thousands)
Graham
Packaging
Holdings
Company
Graham
Packaging
Company,
L.P.
Guarantors
Non-
Guarantors
GPC
Capital
Corp. I
Eliminations
Consolidated
Operating activities:
Net cash provided by operating activities
$
—
$
89,192
$
15,267
$
2,613
$
—
$
—
$
107,072
Investing activities:
Net cash paid for property, plant and equipment
—
(25,901
)
(15,267
)
(6,205
)
—
—
(47,373
)
Acquisition of/investment in a business, net of cash acquired
—
(30
)
—
—
—
—
(30
)
Net cash used in investing activities
—
(25,931
)
(15,267
)
(6,205
)
—
—
(47,403
)
Financing activities:
Proceeds from issuance of long-term debt
—
125,914
—
7,757
—
—
133,671
Payment of long-term debt
—
(194,441
)
—
(11,037
)
—
—
(205,478
)
Debt issuance fees
—
(31
)
—
—
—
—
(31
)
Net cash used in financing activities
—
(68,558
)
—
(3,280
)
—
—
(71,838
)
Effect of exchange rate changes
—
—
—
365
—
—
365
Decrease in cash and cash equivalents
—
(5,297
)
—
(6,507
)
—
—
(11,804
)
Cash and cash equivalents at beginning of period
—
11,307
1
15,376
—
—
26,684
Cash and cash equivalents at end of period
$
—
$
6,010
$
1
$
8,869
$
—
$
—
$
14,880
19
GRAHAM PACKAGING HOLDINGS COMPANY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued
GRAHAM PACKAGING HOLDINGS COMPANY
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE THREE MONTHS ENDED MARCH 31, 2005
(In thousands)
Graham
Packaging
Holdings
Company
Graham
Packaging
Company,
L.P.
Guarantors
Non-
Guarantors
GPC
Capital
Corp. I
Eliminations
Consolidated
Operating activities:
Net cash provided by operating activities
$
$
21,602
$
16,356
$
2,627
$
—
$
—
$
40,585
Investing activities:
Net cash paid for property, plant and equipment
—
(38,669
)
(16,345
)
(7,391
)
—
—
(62,405
)
Acquisitions of/investments in
businesses, net of cash acquired
—
(30,813
)
(10
)
(2,138
)
—
—
(32,961
)
Net cash used in investing activities
—
(69,482
)
(16,355
)
(9,529
)
—
—
(95,366
)
Financing activities:
Proceeds from issuance of long-term debt
—
253,680
—
15,096
—
—
268,776
Payment of long-term debt
—
(204,443
)
—
(14,836
)
—
—
(219,279
)
Debt issuance fees
—
(435
)
—
—
—
—
(435
)
Net cash provided by financing activities
—
48,802
—
260
—
—
49,062
Effect of exchange rate changes
—
—
—
(839
)
—
—
(839
)
Increase (decrease) in cash and cash equivalents
—
922
1
(7,481
)
—
—
(6,558
)
Cash and cash equivalents at beginning of period
—
1,080
—
21,051
—
—
22,131
Cash and cash equivalents at end of period
$
—
$
2,002
$
1
$
13,570
$
—
$
—
$
15,573
20
GRAHAM PACKAGING HOLDINGS COMPANY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued
14.
Comprehensive Loss
Comprehensive loss for the three months ended March 31, 2006 and 2005 was as follows:
Three Months Ended
March 31,
2006
2005
(In thousands)
Net loss
$
(9,986
)
$
(11,537
)
Changes in fair value of derivatives
3,291
9,744
Additional minimum pension liability
5
7
Cumulative translation adjustment
2,262
(9,578
)
Comprehensive loss
$
(4,428
)
$
(11,364
)
21
GRAHAM PACKAGING HOLDINGS COMPANY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued
15.
Segment Information
The Company is organized and managed on a geographical basis in three operating segments:  North America, Europe and South America. Segment information for the three months ended March 31, 2006 and 2005, representing the reportable segments currently utilized by the chief operating decision maker, was as follows:
North
America
Europe
South
America
Eliminations
Total
(a)
(In thousands)
Net sales (b) (c)
2006
$
571,941
$
57,954
$
15,112
$
—
$
645,007
2005
538,687
66,557
15,295
—
620,539
Operating income
2006
31,718
4,560
1,127
—
37,405
2005
35,864
4,677
2,003
—
42,544
Depreciation and
2006
47,410
4,892
1,120
—
53,422
amortization  (d)
2005
49,374
4,938
838
—
55,150
Impairment charges
2006
—
—
—
—
—
2005
1,605
—
—
—
1,605
Interest expense, net (d)
2006
49,464
697
224
—
50,385
2005
42,056
496
222
—
42,774
Income tax (benefit) provision
2006
(5,292
)
1,979
282
—
(3,031
)
2005
8,191
1,862
373
—
10,426
Identifiable assets (b)(c)
As of March 31, 2006
2,647,120
304,800
69,629
(447,987
)
2,573,562
As of December 31, 2005
2,638,141
298,318
68,131
(442,212
)
2,562,378
Goodwill
As of March 31, 2006
287,482
17,458
11,796
—
316,736
As of December 31, 2005
288,158
17,278
11,735
—
317,171
Net cash paid for property, plant  and equipment, excluding acquisitions
2006
41,545
3,225
2,607
(4
)
47,373
2005
56,342
4,703
1,360
—
62,405
(a)
To eliminate intercompany balances, which include investments in the operating segments and inter-segment receivables and payables.
(b)
The Company's net sales for Europe include sales in France which totaled approximately $13.0 million and $20.1 million for the three months ended March 31, 2006 and 2005, respectively.  Identifiable assets in France totaled approximately $115.4 million and $114.1 million as of March 31, 2006 and December 31, 2005, respectively.
(c)
The Company's net sales for North America include sales in Mexico which totaled approximately $32.5 million and $29.9 million for the three months ended March 31, 2006 and 2005, respectively.  Identifiable assets in Mexico totaled approximately $158.4 million and $165.5 million as of March 31, 2006 and December 31, 2005, respectively. Approximately all of the North America reportable segment's remaining net sales and identifiable assets are in the United States.
(d)
Includes amortization of debt issuance fees.
22
GRAHAM PACKAGING HOLDINGS COMPANY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-Continued
Product Net Sales Information
The following is supplemental information on net sales by product category:
Three Months Ended
March 31,
2006
2005
(In thousands)
Food and Beverage
$
366,409
$
352,611
Household
132,116
124,127
Automotive Lubricants
71,778
68,471
Personal Care/Specialty
74,704
75,330
Total Net Sales
$
645,007
$
620,539
16.
Pension Plans
The components of net periodic pension cost for the Company's U.S. defined benefit pension plans consisted of the following:
Three Months Ended
March 31,
2006
2005
(In thousands)
Components of net periodic pension cost:
Service cost
$
2,597
$
2,527
Interest cost
1,061
891
Expected return on plan assets
(994
)
(852
)
Net amortization and deferral
285
438
Net periodic pension cost
$
2,949
$
3,004
The decrease in net periodic pension cost in the first three months of 2006 was primarily attributable to lower net amortization and deferral in 2006 and higher expected returns on plan assets as a result of increased pension contributions in 2005, partially offset by higher interest costs in 2006 as a result of a reduction in the discount rate.
The Company previously disclosed in its financial statements for the year ended December 31, 2005 that it expected to contribute $9.8 million to its pension plans in 2006. As of March 31, 2006, $0.2 million of contributions to its pension plans has been made.
The Company recognized $0.9 million of expense for the Company's 401(k) plans in the first three months of 2006 and 2005.
23
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
All statements other than statements of historical facts included in this Report on Form 10-Q, including statements regarding the future financial position, economic performance and results of operations of the Company, as well as the Company's business strategy, budgets and projected costs and plans and objectives of management for future operations, and the information referred to under "Quantitative and Qualitative Disclosures About Market Risk" (Part I, Item 3), are forward-looking statements. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," or "continue" or similar terminology. These forward-looking statements are not historical facts, and are based on
current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond the Company's control.  Accordingly, readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict.  Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements.  Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made in this report.  Readers should carefully review the risks and
uncertainties under "Risk Factors" in Holdings' Annual Report on Form 10-K for the fiscal year ended December 31, 2005. All forward-looking statements attributable to the Company, or persons acting on its behalf, are expressly qualified in their entirety by the cautionary statements set forth in this paragraph.
Overview
The Company is a worldwide leader in the design, manufacture and sale of customized blow molded plastic containers for the branded food and beverage, household, personal care/specialty and automotive lubricants product categories and, as of the end of March 2006, operated 87 manufacturing facilities throughout North America, Europe and South America. The Company's primary strategy is to operate in select markets that will position it to benefit from the growing conversion to value-added plastic packaging from more commodity packaging.
Management believes that critical success factors to the Company's business are its ability to:
•
develop its own proprietary technologies that provide meaningful competitive advantage in the marketplace;
•
maintain relationships with and serve the complex packaging demands of its customers which include some of the world's largest branded consumer products companies;
•
forecast trends in the packaging industry across product lines and geographic territories (including those specific to the rapid conversion of packaging products from glass, metal and paper to plastic); and
•
make investments in plant and technology necessary to satisfy the three factors mentioned above.
24
Management believes that the area with the greatest opportunity for growth continues to be in producing containers for the food and beverage product category because of the continued conversion to plastic packaging, including the demand for containers for juices, juice drinks, nutritional beverages, sports drinks, teas, yogurt drinks, snacks, beer and other food products. Over the past few years, the Company has experienced an overall mix shift toward smaller containers, since much of the growth in this area has been in the sale of smaller sized containers. Based on research prepared by Packaging Strategies and internal estimates, management believes the Company has become a leader in the value-added segment for hot-fill PET juice containers.  Management also believes the Company has recently become a leading participant in the rapid growth of yogurt drinks and nutritional beverages where
the Company manufactures containers using polyolefin resins. From the beginning of 1999 through March 31, 2006, the Company has invested over $1,380.0 million in capital expenditures, which includes approximately $658.0 million of purchase price allocations related to the acquisition of the blow molded plastic container business of Owens-Illinois, Inc. ("O-I Plastic"), in the food and beverage product category. For the last twelve months ended March 31, 2006, the Company's sales of containers for the food and beverage product category grew to $1,445.4 million from $333.4 million in 1999.
The Company's household container product category is a product category whose growth in prior years was fueled by conversions from powders to liquids for such products as detergents, household cleaners and automatic dishwashing detergent. Powdered products are packaged in paper based containers such as fiber wound cans and paperboard cartons. The growth of this product category now tends to follow GDP growth as liquids have gained a predominant share of these products. The Company's strongest position is in fabric care, where the Company is a leader in plastic container design and manufacture. It should be noted the fabric care industry is now offering some brands in a concentrated formula which could affect the growth in this product category.  The Company has continually upgraded its machinery, principally in the United States, to new, larger, more productive blow molders in
order to standardize production lines, improve flexibility and reduce manufacturing costs.
The Company's North American one quart motor oil container product category is in a mature industry. Unit volume in the one quart motor oil industry decreased approximately 7% in 2005 as compared to 2004; annual volumes declined an average of approximately 1% to 2% in prior years. Management believes that the future rate of decline of the domestic one quart motor oil container product category will be at a higher rate than the historical rate as the product category continues to migrate towards the Do-It-For-Me quick-lube market and larger multi-quart packages.  The expected rate of decline in one quart motor oil containers is anticipated to be 8% to 10% per year over the next few years.
The Company's personal care/specialty product category is a product category that grows, in general, with GDP and is driven by new product launch and relaunch cycles.  Based on the volume of its sales to many major suppliers of personal care/specialty products, management believes the Company is among the leading suppliers in this product category which includes products for the hair care, skin care, oral care and specialty markets. Management believes that the Company's leading supply position results from its commitment to and reputation in new product development and flexible manufacturing processes and operations.
As of March 31, 2006, the Company operated 30 manufacturing facilities outside of the United States in Argentina, Belgium, Brazil, Canada, Ecuador, England, Finland, France, Hungary, Mexico, the Netherlands, Poland, Spain, Turkey and Venezuela. Over the past few years, the Company has expanded its international operations with the addition of new plants in France, Belgium, Spain, Poland, Mexico and Argentina, as well as the acquisition of O-I Plastic, which included plants in Ecuador, England, Finland, Mexico, the Netherlands and Venezuela, and the acquisition of certain Tetra-Pak operations on March 24, 2005, which included plants in Brazil, Belgium and Turkey.
For the three months ended March 31, 2006, 74.4% of the Company's net sales were generated by the top twenty customers, the majority of which were under long-term contracts with terms up to ten years; the remainder of which were customers with which the Company has been doing business for over 20 years on average. Prices under these arrangements are typically tied to market standards and, therefore, vary with market conditions. In general, the contracts are requirements contracts that do not obligate the customer to purchase any given amount of product from the Company. The Company had sales to one customer which exceeded 10% of total sales for the three months ended March 31, 2006 and 2005. The Company's sales to this customer were 18.1% and 19.3% of total sales for the
25
three months ended March 31, 2006 and 2005, respectively. For the three months ended March 31, 2006 and 2005, approximately 100% and 98%, respectively, of the sales to this customer were made in North America.
Based on industry data, the following table summarizes average market prices per pound of polyethylene terephthalate, or PET, and high-density polyethylene, or HDPE, resins in the United States during the three months ended March 2006 and 2005:
Three Months
Ended March
2006
2005
PET
$
0.72
$
0.77
HDPE
$
0.73
$
0.63
In general, the Company's dollar gross profit is substantially unaffected by fluctuations in the prices of PET and HDPE resins, the primary raw materials for the Company's products, because industry practice and the Company's agreements with its customers permit substantially all resin price changes to be passed through to customers by means of corresponding changes in product pricing. Consequently, the Company believes that its cost of goods sold, as well as other expense items, should not be analyzed solely on a percentage of net sales basis. A sustained increase in resin prices, to the extent that those costs are not passed on to the end-consumer, would make plastic containers less economical for the Company's customers and could result in a slower pace of conversions to plastic containers.
Holdings and the Operating Company, as limited partnerships, do not pay U.S. federal income taxes under the provisions of the Internal Revenue Code, as the applicable income or loss is included in the tax returns of its partners. However, certain U.S. subsidiaries acquired as part of O-I Plastic are corporations and are subject to U.S. federal and state income taxes. The Company's foreign operations are subject to tax in their local jurisdictions. Deferred income tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and are measured using enacted tax rates expected to apply to taxable income in the years in which the temporary differences are expected to reverse.
Results of Operations
The following tables set forth the major components of the Company's net sales and such net sales expressed as a percentage of total net sales:
Three Months Ended
March 31,
2006
2005
(Dollars in millions)
North America
$
571.9
88.7
%
$
538.7
86.8
%
Europe
58.0
9.0
66.5
10.7
South America
15.1
2.3
15.3
2.5
Total Net Sales
$
645.0
100.0
%
$
620.5
100.0
%
Three Months Ended
March 31,
2006
2005
(Dollars in millions)
Food and Beverage
$
366.4
56.8
%
$
352.6
56.8
%
Household
132.1
20.5
124.1
20.0
Automotive Lubricants
71.8
11.1
68.5
11.0
Personal Care/Specialty
74.7
11.6
75.3
12.2
Total Net Sales
$
645.0
100.0
%
$
620.5
100.0
%
26
Three Months Ended March 31, 2006 Compared to Three Months Ended March 31, 2005
Net Sales.
Net sales for the three months ended March 31, 2006 increased $24.5 million, or 3.9%, to $645.0 million from $620.5 million for the three months ended March 31, 2005. The increase in sales was primarily due to an increase in resin pricing and volume, net of changes in mix and currency exchange rates. Container units sold increased 3.8%. On a geographic basis, sales for the three months ended March 31, 2006 in North America increased $33.2 million, or 6.2%, from the three months ended March 31, 2005, primarily due to an increase in resin pricing and higher container units sold of 4.2%, net of changes in mix
.
North American sales in the food and beverage product category, the household product category and the automotive lubricants product category contributed $19.3 million, $13.4
million and $3.8 million, respectively, to the increase, while the personal care/specialty product category decreased $3.3 million.  Container units sold in North America increased in the food and beverage product category by 10.7% and decreased in the household, automotive lubricants and personal care/specialty product categories by 8.5%, 2.7% and 9.2%, respectively.  Sales for the three months ended March 31, 2006 in Europe decreased $8.5 million, or 12.8%, compared to sales for the three months ended March 31, 2005.  The decrease in sales was primarily due to unfavorable exchange rate changes of $4.3 million and an overall mix shift to smaller containers.  Container units sold in Europe increased 0.2% compared to the same period last year.  Sales in South America for the three months ended March 31, 2006 decreased $0.2 million, or 1.3%, from the three months ended March 31, 2005.  The decrease in sales was primarily due to an overall mix shift to smaller containers, partially
offset by favorable exchange rate changes of $1.5 million.
Gross Profit.
Gross profit for the three months ended March 31, 2006 decreased $9.9 million to $68.5 million from $78.4 million for the three months ended March 31, 2005. Gross profit for the three months ended March 31, 2006 decreased $9.0 million, $0.2 million and $0.7 million in North America, Europe and South America, respectively, when compared to the three months ended March 31, 2005. The positive impact on gross profit of added volume was more than offset by a loss of approximately $5.5 million due to the inability to recover all costs related to extraordinary efforts during the Rita/Katrina hurricane events during the latter half of 2005 to procure PET raw materials and build unusually high inventory levels to make certain the Company met its customers' requirements in the short term and build for the peak isotonic beverage demand in the long term.
Gross profit was also negatively impacted by a net increase of $6.5 million in non-recurring charges, which included expenses related to the acquisition of O-I Plastic, expenses incurred in 2006 related to the hurricanes in the United States in the second half of 2005 and restructuring and other non-recurring expenses, a net increase in project costs of $2.1 million and an unfavorable impact from changes in foreign currency exchange rates of $0.5 million.
Selling, General & Administrative Expenses.
Selling, general and administrative expenses for the three months ended March 31, 2006 decreased $3.2 million to $31.1 million from $34.3 million for the three months ended March 31, 2005. The decrease was primarily due to a decrease in non-recurring charges, partially offset by increases in North America in compensation-related expenses, legal expenses and recruitment expenses.  The non-recurring charges were $1.2 million and $6.6 million for the three months ended March 31, 2006 and 2005, respectively, comprised of expenses relating to the acquisition of O-I Plastic, global reorganization costs and other costs.  Selling, general and administrative expenses as a percent of sales decreased to 4.8% of sales for the three months ended March 31, 2006 from 5.5% of sales for the three months ended March 31, 2005.
Impairment Charges.
There were no impairment charges for the three months ended March 31, 2006 as compared to $1.6 million for the three months ended March 31, 2005.  In 2005, due to a change in the ability to utilize certain assets in the United States, the Company evaluated the recoverability of these assets.  For these assets to be held and used, the Company determined that the undiscounted cash flows were below the carrying value of these long-lived assets.  Accordingly, the Company adjusted the carrying values of these long-lived assets to their estimated fair values in accordance with SFAS 144, "Accounting for the Impairment or Disposal of Long-Lived Assets," resulting in impairment charges of $1.6 million for the three months ended March 31, 2005.
Interest Expense, Net
. Interest expense, net increased $7.6 million to $50.4 million for the three months ended March 31, 2006 from $42.8 million for the three months ended March 31, 2005.  The increase was primarily related to an increase in interest rates (average 90-day LIBOR increased from 2.84% for the first quarter of 2005 to 4.76% for the first quarter of 2006) and average debt levels for the three months ended March 31, 2006.
27
Other Expense, Net.
Other expense, net was $0.0 million for the three months ended March 31, 2006 as compared to other expense, net of $0.3 million for the three months ended March 31, 2005, primarily due to lower foreign exchange losses.
Income Tax (Benefit) Provision.
Income tax benefit was $3.0 million for the three months ended March 31, 2006 as compared to income tax provision of $10.4 million for the three months ended March 31, 2005.  The change of $13.4 million was primarily related to decreased taxable earnings in North America.
Minority Interest.
There was no minority interest for the three months ended March 31, 2006 as compared to $0.5 million for the three months ended March 31, 2005 due to the buyout on May 9, 2005 of the minority interest in the Company's joint venture in Mexico.
Net Loss.
Primarily as a result of factors discussed above, net loss was $10.0 million for the three months ended March 31, 2006 compared to net loss of $11.5 million for the three months ended March 31, 2005.
Effect of Changes in Exchange Rates
In general, the Company's results of operations are affected by changes in foreign exchange rates. Subject to market conditions, the Company prices its products in its foreign operations in local currencies. As a result, a decline in the value of the U.S. dollar relative to the local currencies of profitable foreign subsidiaries can have a favorable effect on the profitability of the Company, and an increase in the value of the U.S. dollar relative to the local currencies of profitable foreign subsidiaries can have a negative effect on the profitability of the Company. Exchange rate fluctuations increased comprehensive income by $2.3 million for the three months ended March 31, 2006 and decreased comprehensive income by $9.6 million for the three months ended March 31, 2005.
Derivatives
During 2003, the Company entered into four interest rate swap agreements (three of which matured in the first quarter of 2006) under which the Company (for the remaining swap) receives variable interest based on the Eurodollar Rate (the applicable interest rate offered to banks in the London interbank eurocurrency market) and pays fixed interest at a weighted average rate of 2.80%, on $100.0 million of term loans. During 2004, the Company entered into four additional interest rate swap agreements, under which the Company receives variable interest based on the Eurodollar rate and pays fixed interest at a weighted average rate of 3.89%, on $700.0 million of term loans. During 2005, the Company entered into three additional interest rate swap agreements, under which the Company receives variable interest based on the Eurodollar rate and pays fixed interest at a weighted average rate of 4.43%,
on $225.0 million of term loans. The interest rate swaps are accounted for as cash flow hedges. The hedges are highly effective as defined in Statement of Financial Accounting Standards ("SFAS") 133, "Accounting for Derivative Instruments and Hedging Activities."  The effective portion of the cash flow hedges is recorded in other comprehensive income ("OCI") and was an unrealized gain of $3.3 million and $9.7 million for the three months ended March 31, 2006 and 2005, respectively. Approximately 59% of the amount recorded within OCI as of March 31, 2006 is expected to be recognized in interest expense in the next twelve months. Failure to properly document the Company's interest rate swaps as effective hedges would result in income statement recognition of all or part of the cumulative $17.8 million unrealized gain recorded in accumulated OCI as of March 31, 2006.
Liquidity and Capital Resources
In the three months ended March 31, 2006, the Company funded, through its operating activities, $47.4 million of investing activities and $71.8 million of financing activities.  Included in the Company's operating activities was an increase in accounts payable of $52.0 million from December 31, 2005 to March 31, 2006, primarily due to changes in payment terms with certain suppliers and a normal seasonal increase experienced during the first quarter of each year.
In connection with the acquisition of O-I Plastic on October 7, 2004, the Operating Company, Holdings, GPC Capital Corp. I ("CapCo I") and a syndicate of lenders entered into a first-lien credit agreement (the "Credit Agreement") and a second-lien credit agreement (the "Second-Lien Credit Agreement" and, together with the Credit Agreement, the "Credit Agreements"). Pursuant to its terms, on April 18, 2006, the Credit Agreement was amended
28
in order to, among other things, increase the B Term Loan facility provided under the Credit Agreement by $150.0 million.  Proceeds of the Amendment were used to pay down $100.0 million of the Second-Lien Credit Agreement, with the remaining $50.0 million being used to reduce outstanding borrowings on the existing revolving credit facility provided for under the Credit Agreement.  After giving effect to the April 18, 2006 Second Amendment to the Credit Agreement, the Credit Agreements consist of a senior secured term loan B to the Operating Company totaling $1,581.9 million, a second-lien term loan totaling $250.0 million (the "Term Loans" or "Term Loan Facilities") and a $250.0 million revolving credit facility (the "Revolving Credit Facility"). The unused availability of the Revolving Credit Facility at March 31, 2006 was $115.4 million (as reduced by $9.6 million of outstanding
letters of credit and before giving effect to the April 18, 2006 Second Amendment to the Credit Agreement).  After giving effect to the April 18, 2006 Second Amendment to the Credit Agreement, the term loan B is payable in quarterly installments and requires payments of $15.6 million in 2006 and $16.0 million in each of 2007, 2008, 2009 and 2010 and $1,505.8 million in 2011. The Company expects to fund scheduled debt repayments from cash from operations and unused lines of credit. The Revolving Credit Facility expires on October 7, 2010. The second-lien term loan is payable on April 7, 2012. The obligations of the Operating Company and CapCo I under the Credit Agreements are guaranteed by Holdings and certain other subsidiaries of Holdings. As of March 31, 2006, the Company was in compliance with all covenants.
The acquisition of O-I Plastic and the related refinancing of the indebtedness of the Company also included the issuance of $250.0 million in Senior Notes of the Operating Company and $375.0 million in Senior Subordinated Notes of the Operating Company (collectively "the Notes"). The Notes are unconditionally guaranteed, jointly and severally, by Holdings and domestic subsidiaries of the Operating Company and mature on October 7, 2012 (Senior Notes) and October 7, 2014 (Senior Subordinated Notes). Interest on the Senior Notes is payable semi-annually at 8.50% and interest on the Senior Subordinated Notes is payable semi-annually at 9.875%.
At March 31, 2006, the Company's total indebtedness was $2,566.7 million.
The Credit Agreements and the Notes contain a number of significant covenants.  The Company believes that these covenants are material terms of these agreements and that information about the covenants is material to an investor's understanding of the Company's financial condition and liquidity. Covenant compliance EBITDA (as defined below) is used to determine the Company's compliance with many of these covenants.  Any breach of covenants in the Credit Agreements that are tied to ratios based on covenant compliance EBITDA could result in a default under the Credit Agreements and the lenders could elect to declare all amounts borrowed to be immediately due and payable. Any such acceleration would also result in a default under the Notes. Additionally, these covenants restrict the Company's ability to dispose of assets, repay other indebtedness, incur additional
indebtedness, pay dividends, prepay subordinated indebtedness, incur liens, make capital expenditures, investments or acquisitions, engage in mergers or consolidations, engage in transactions with affiliates and otherwise restrict the Company's activities. Under the Credit Agreements, the Company is required to satisfy specified financial ratios and tests beginning with the first quarter of 2005. As of March 31, 2006, the Company was in compliance with the financial ratios and tests specified in the Credit Agreements and the Company currently anticipates being able to comply with such financial ratios and tests for the foreseeable future, however, the Company can not give any assurance this will occur.
Covenant compliance EBITDA is defined as EBITDA (i.e., earnings before interest, taxes, depreciation and amortization) further adjusted to exclude non-recurring items, non-cash items and other adjustments required in calculating covenant compliance under the Credit Agreements and the Notes, as shown in the table below. Covenant compliance EBITDA is not intended to represent cash flow from operations as defined by generally accepted accounting principles and should not be used as an alternative to net income as an indicator of operating performance or to cash flow as a measure of liquidity. The Company believes that the inclusion of covenant compliance EBITDA in this quarterly report on Form 10-Q is appropriate to provide additional information to investors about the calculation of certain financial covenants in the Credit Agreements and the Notes. Because not all companies use identical
calculations, these presentations of covenant compliance EBITDA may not be comparable to other similarly titled measures of other companies. A reconciliation of net loss to covenant compliance EBITDA is as follows:
29
Reconciliation of net loss to EBITDA
Four Quarters Ended
March 31, 2006
(In millions)
Net loss
$
(51.1
)
Interest income
(0.7
)
Interest expense
192.6
Income tax provision
1.0
Depreciation and amortization
199.3
EBITDA
$
341.1
Reconciliation of EBITDA to covenant compliance EBITDA
Four Quarters Ended
March 31, 2006
(In millions)
EBITDA
$
341.1
Minority interest
0.2
Impairment charges
5.7
Other non-cash charges
13.8
Fees related to monitoring agreements(a)
5.0
Non-recurring items(b)
62.4
Pro forma adjustments (c)
29.1
Covenant compliance EBITDA
$
457.3
(a)
Represents annual fees paid to Blackstone and a limited partner of Holdings under monitoring agreements.
(b)
The Company is required to adjust EBITDA, as defined above, for the non-recurring items in the table below:
Four Quarters Ended
March 31, 2006
(In millions)
Reorganization and transaction related costs(i)
$
39.4
Project startup costs(ii)
23.0
$
62.4
(i)
Represents non-recurring costs related to the acquisition of O-I Plastic, global reorganization costs and other costs.
(ii)
Represents non-recurring costs associated with project startups.
(c)
The Company is required to adjust EBITDA for synergy cost savings, as defined in the Credit Agreement, and the pro forma impact of acquisitions.
30
Under the debt agreements, the Company's ability to engage in activities such as incurring additional indebtedness, making investments and paying dividends is also tied to ratios based on covenant compliance EBITDA. The Credit Agreement requires that the Company maintain a covenant compliance EBITDA to cash interest ratio starting at a minimum of 1.90x and increasing in increments of .05 to 2.20x in 2010 and a net debt to covenant compliance EBITDA ratio starting at a maximum of 6.75x and decreasing in increments of .25 to 5.00x in 2010, in each case for the most recent four quarter period. The Second-Lien Credit Agreement requires that the Company maintain a covenant compliance EBITDA to cash interest ratio starting at a minimum of 1.65x and increasing in increments of .05 to 1.95x in 2010 and a net debt to covenant compliance EBITDA ratio starting at a maximum of 7.35x and decreasing
in increments of .25 to 5.60x in 2010, in each case for the most recent four quarter period. For the four quarters ended March 31, 2006, the Operating Company's covenant compliance EBITDA was $457.3 million, which includes $29.1 million of certain required adjustments in accordance with the Company's Credit Agreements. The covenant compliance EBITDA to cash interest ratio and net debt to covenant compliance EBITDA ratio were 2.42x and 5.58x, respectively, for the four quarters ended March 31, 2006. The ability of the Operating Company to incur additional debt and make certain restricted payments under its Notes is tied to a covenant compliance EBITDA to interest expense ratio of 2.0 to 1, except that the Operating Company may incur certain debt and make certain restricted payments without regard to the ratio, such as up to $2.2 billion under the Credit Agreements and investments equal to 7.5% of the Operating Company's total assets.
Substantially all of the Company's domestic tangible and intangible assets are pledged as collateral pursuant to the terms of the Credit Agreements.
Under the Credit Agreements, the Operating Company is subject to restrictions on the payment of dividends or other distributions to Holdings; provided that, subject to certain limitations, the Operating Company may pay dividends or other distributions to Holdings:
•
in respect of overhead, tax liabilities, legal, accounting and other professional fees and expenses;  and
•
to fund purchases and redemptions of equity interests of Holdings or BMP/Graham Holdings Corporation held by then present or former officers or employees of Holdings, the Operating Company or their subsidiaries or by any employee stock ownership plan upon that person's death, disability, retirement or termination of employment or other circumstances with annual dollar limitations.
As market conditions warrant, the Company and its major equityholders, including Blackstone Capital Partners III Merchant Bank Fund L.P. and its affiliates, may from time to time repurchase debt securities issued by the Company, in privately negotiated or open market transactions, by tender offer or otherwise.
Cash paid for property, plant and equipment, net of proceeds on sales of property, plant and equipment and excluding acquisitions, for the three months ended March 31, 2006 was $47.4 million. Management believes that capital investment to maintain and upgrade property, plant and equipment is important to remain competitive. Management estimates that on average the annual capital expenditures required to maintain the Company's current facilities are approximately $55.0 million per year. Additional capital expenditures beyond this amount will be required to expand capacity or improve the cost structure.
For the fiscal year 2006, the Company expects to incur approximately $220.0 million of capital investments.  However, total capital investments will depend on the size and timing of growth related opportunities.  2006 capital investments include restructuring expenditures which are excluded from the capital expenditure covenant in the Credit Agreement.  The Company's principal sources of cash to fund ongoing operations and capital requirements have been and are expected to continue to be net cash provided by operating activities and borrowings under the Credit Agreement.  Management believes that these sources will be sufficient to fund the Company's ongoing operations and its foreseeable capital requirements.
On July 9, 2002, the Company and Graham Engineering Corporation ("Graham Engineering"), an affiliated company, executed a First Amendment to the equipment sales, services and license agreement (the "Equipment Sales Agreement") to, among other things, (i) permit the Company to purchase certain wheels from a third party under certain circumstances if Graham Engineering is provided the opportunity to bid on supplying the same equipment; (ii) clarify that the Company's exclusivity rights under the Equipment Sales Agreement do not apply to
31
certain new generations of Graham Engineering equipment; (iii) in the event of the sale of Graham Engineering to a competitor, provide the Company the option to require the transfer of the existing agreement or obtain a perpetual, royalty-free license to make and use wheel equipment and components; (iv) provide Graham Engineering with the ability to terminate the Equipment Sales Agreement if an arbitrator determines that the Company has purchased certain high output extrusion blow molding equipment from another supplier in breach of the Equipment Sales Agreement, as amended; and (v) obligate the Company, retroactive to January 1, 2002, and subject to certain credits and carry-forwards, to make payments for products and services to Graham Engineering in the amount of at least $12.0 million per calendar year, or else pay to Graham Engineering a shortfall payment. The Company does not expect to be required to
make a shortfall payment relative to its purchases for 2006.
Subsequently, on January 13, 2004, the parties executed a Second Amendment to the Equipment Sales Agreement.  Such amendment removed restrictions originally placed upon the Company with respect to the Company's use of Graham Engineering technology to manufacture containers at blow molding plants co-located with dairies or dairy-focused facilities.
The Equipments Sales Agreement terminates on December 31, 2007, unless mutually extended by the parties.
Off-Balance Sheet Arrangements
Other than operating leases, as of March 31, 2006, the Company did not have any off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of SEC Regulation S-K.
32
Item 3. Quantitative and Qualitative Disclosures About Market Risk
The following table provides disclosure as of March 31, 2006 for financial instruments that have experienced material changes in fair value since December 31, 2005.
Expected Maturity Date of Interest Rate Swap Agreements at March 31, 2006
Fair Value
2006
2007
2008
2009
2010
Thereafter
Total
March 31,
2006
(Dollars in thousands)
(1)
Derivatives matched against liabilities
Pay fixed swaps
$
100,000
$
650,000
$
275,000
$
—
—
—
—
$
17,805
Pay rate
2.80
%
3.98
%
4.11
%
—
—
—
—
Receive rate
5.05
%
5.12
%
5.01
%
—
—
—
—
(1) Swaps maturing in 2007 and 2008 are forward starting at expiration of existing swaps; therefore totals are not applicable.
33
Item 4.
Controls and Procedures
(a)
Evaluation of Disclosure Controls and Procedures
The Company's principal executive officer and principal financial officer evaluated the effectiveness of the Company's disclosure controls and procedures (as defined in rules 13a-15(e) and 15d-15(e) under the Exchange Act) as of the end of the period covered by this report.  Based on their evaluation and a material weakness in the Company's internal controls as described below, the Company's principal executive officer and principal financial officer have concluded the Company's system of disclosure controls and procedures to be ineffective as of March 31, 2006.  The Company's principal executive officer and principal financial officer have concluded that the consolidated financial statements included in this Quarterly Report on Form 10-Q fairly present in all material respects the Company's financial condition,
results of operations and cash flows for the periods presented in conformity with accounting principles generally accepted in the United States of America ("GAAP").
The Company identified a material weakness in its internal controls related to its income tax accounting.  The Company's tax structure is complex with significant tax jurisdictions located outside of the United States and the acquisition of O-I Plastic added to the complexity of the tax structure, involved significant issues with regard to purchase accounting and the income tax implications of purchase accounting and significantly added to the Company's operations in Mexico.  The Company has insufficient, qualified resources to determine that income tax accounting complies with generally accepted accounting principles, particularly as it relates to the tax accounting for the O-I Plastic
acquisition and the tax accounting for its Mexican operations.  This deficiency in the design and operation of internal controls could result in misstatements in the reported amount of deferred income tax balances and in the required disclosures of income tax amounts.
In response to the above determination, the Company is examining the issue and plans to implement certain remedies, including, among other items, the deployment of greater resources in the area of international income tax accounting and the potential hiring of a qualified individual to oversee international income tax accounting.  During the first quarter of 2006 the Company added two tax professionals to its staff in Mexico.  The Company subjected the first quarter Mexico tax provision to rigorous senior accounting management review to ensure accuracy of the provision and allow these professionals
adequate time to fully assume the tax accounting responsibility in Mexico.  Additionally, the Company is recruiting a manager of international tax to oversee its international income tax accounting.
At this time, the Company is not required to issue an internal control report, or receive an attestation to its internal control report from its independent registered public accounting firm.  Beginning with the Company's December 31, 2007 Form 10-K, the Company will be subject to this requirement.
(b)
Changes in Internal Controls
There were no changes in the Company's internal controls or in other factors that could materially affect the Company's disclosure controls and procedures during the period covered under this report, except as disclosed in Item 4(a) above.
34
PART II.
OTHER INFORMATION
Item 6.
Exhibits
Exhibit 31.1
Certification required by Rule 15d-14(a).
Exhibit 31.2
Certification required by Rule 15d-14(a).
Exhibit 32.1
Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
Exhibit 32.2
Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
35
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed by the undersigned, thereunto duly authorized.
Dated:  May 12, 2006
GRAHAM PACKAGING HOLDINGS COMPANY
(Registrant)
By:
BCP/Graham Holdings LLC,
its General Partner
By:
/s/ John E. Hamilton
John E. Hamilton
Chief Financial Officer
(chief accounting officer and duly authorized officer)
36