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        <p style="MARGIN-TOP: 2.3pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 18pt">UNITED STATES</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 18pt">SECURITIES AND EXCHANGE COMMISSION</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>WASHINGTON, D.C. 20549</b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 18pt">FORM 10-Q</font></b></p>

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        &nbsp;</font></p>

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                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-FAMILY: 'WINGDINGS'">x</font></p>
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                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</p>
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        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt">For the quarterly period ended March&nbsp;29, 2009</font></b></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>OR</b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

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                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
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                <td valign="top" width="5%">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-FAMILY: 'WINGDINGS'">&uml;</font></p>
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                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</p>
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        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt">For the transition period from</font></b> <b><u><font style="FONT-SIZE: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u></b> <b><font style="FONT-SIZE: 10pt">to</font></b>
        <b><u><font style="FONT-SIZE: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u></b></p>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt">Commission file number 333-</font></b><b><font style="FONT-SIZE: 10pt">108661</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 24pt">UNIVERSAL CITY</font></b> <b><font style="FONT-SIZE: 24pt">DEVELOPMENT PARTNERS, LTD.</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 24pt">UCDP</font></b> <b><font style="FONT-SIZE: 24pt">FINANCE, INC.</font></b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">(Exact name of registrants as specified in their charters)</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 9pt"><br>
        &nbsp;</font></p>

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                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt">FLORIDA</font></b></p>
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                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
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                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt">59-</font></b><b><font style="FONT-SIZE: 10pt">3128514</font></b></p>
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                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt">FLORIDA</font></b></p>
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                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
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                <td valign="top" width="595">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt">42</font></b><b><font style="FONT-SIZE: 10pt">-</font></b><b><font style="FONT-SIZE: 10pt">1581381</font></b></p>
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                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">(State or other jurisdiction of</font></b></p>

                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0.8pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">incorporation or organization)</font></b></p>
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                <td valign="bottom" width="26">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
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                <td valign="top" width="595">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">(I.R.S. Employer</font></b></p>

                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0.8pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">Identification No.)</font></b></p>
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        <br>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

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                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="middle" width="48%">&nbsp;</td>
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                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt">1000 UNIVERSAL STUDIOS PLAZA</font></b></p>

                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0.8pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt">ORLANDO, FL</font></b></p>
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                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
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                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt">32819-7610</font></b></p>
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                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">(Address of principal executive offices)</font></b></p>
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                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
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                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">(Zip Code)</font></b></p>
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        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt">(407) 363-8000</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">(Registrants&rsquo; telephone number, including area code)</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Indicate by check mark whether the Registrants (1)&nbsp;have filed all reports required to be filed by Section&nbsp;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)&nbsp;have been subject to such filing requirements for the
        past 90 days.&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'WINGDINGS'">x</font><font style="FONT-SIZE: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'WINGDINGS'">&uml;</font></p>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font size="2">Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (?232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post
        such files).&nbsp;&nbsp;&nbsp; Yes&nbsp;&nbsp;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'WINGDINGS'">&uml;</font><font style="FONT-SIZE: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'WINGDINGS'">&uml;</font></font></p>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Indicate by checkmark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer&rdquo; and &ldquo;smaller reporting company&rdquo; in Rule 12b-2 of the Exchange Act.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p></p>

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                <td valign="middle" width="32%">&nbsp;</td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="middle" width="27%">&nbsp;</td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="middle" width="27%">&nbsp;</td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

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                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Large accelerated filer</font></p>
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                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'WINGDINGS'">&uml;</font></p>
                </td>

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                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">&nbsp;</p>
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                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

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                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Accelerated filer</font></p>
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                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'WINGDINGS'">&uml;</font></p>
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                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">&nbsp;</p>
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                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Non-accelerated filer</font></p>
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                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'WINGDINGS'">x</font></p>
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                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">&nbsp;</p>
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                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Smaller reporting company</font></p>
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                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'WINGDINGS'">&uml;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">&nbsp;</p>
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                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">(Do not check if a smaller reporting company)</font></p>
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                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
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                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>
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        <br>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Indicate by checkmark whether the registrant is a shell company (as defined in Rule&nbsp;12b-2 of the Exchange
        Act).&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'WINGDINGS'">&uml;</font><font style="FONT-SIZE: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'WINGDINGS'">x</font></p>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Indicate the number of shares outstanding of each of the issuer&rsquo;s classes of common stock, as of the latest practical date. As of May&nbsp;8, 2009 there were 100 shares of common stock of</font> <font style="FONT-SIZE: 10pt">UCDP</font> <font style="FONT-SIZE: 10pt">Finance, Inc., outstanding. Not applicable to Universal City</font>
        <font style="FONT-SIZE: 10pt">Development Partners, Ltd.</font></p>

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        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt"><a name="toc"></a>TABLE OF CONTENTS</font></b></p>

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                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
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                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">PAGE</font></b></p>
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            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><b><font style="FONT-SIZE: 10pt">PART I. FINANCIAL INFORMATION</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>
            </tr>

            <tr style="HEIGHT: 6pt">
                <td valign="middle">&nbsp;</td>

                <td valign="middle" colspan="2">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">ITEM&nbsp;1. Financial Statements (unaudited)</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">3</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">ITEM&nbsp;2. Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">17</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">ITEM&nbsp;3. Quantitative and Qualitative Disclosure About Market Risk</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">23</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">ITEM&nbsp;4. Controls and Procedures</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">25</font></p>
                </td>
            </tr>

            <tr style="HEIGHT: 12pt">
                <td valign="middle">&nbsp;</td>

                <td valign="middle" colspan="2">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><b><font style="FONT-SIZE: 10pt">PART II. OTHER INFORMATION</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>
            </tr>

            <tr style="HEIGHT: 6pt">
                <td valign="middle">&nbsp;</td>

                <td valign="middle" colspan="2">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">ITEM&nbsp;1. Legal Proceedings</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">26</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">ITEM&nbsp;1A. Risk Factors</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">26</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">ITEM&nbsp;2. Unregistered Sales of Equity Securities and Use of Proceeds</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">26</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">ITEM&nbsp;3. Defaults upon Senior Securities</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">26</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">ITEM&nbsp;4. Submission of Matters to a Vote of Security Holders</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">26</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">ITEM&nbsp;5. Other Information</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">26</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">ITEM&nbsp;6. Exhibits</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">26</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">SIGNATURES</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">27</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">UCDP</font> <font style="FONT-SIZE: 10pt">Finance, Inc.</font> <font style="FONT-SIZE: 10pt">is a</font> <font style="FONT-SIZE: 10pt">wholly owned</font> <font style="FONT-SIZE: 10pt">subsidiary</font> <font style="FONT-SIZE: 10pt">of Universal City</font> <font style="FONT-SIZE: 10pt">Development Partners, Ltd., and</font>
        <font style="FONT-SIZE: 10pt">was</font> <font style="FONT-SIZE: 10pt">formed for the sole purpose of acting as a co-issuer of the Registrants&rsquo;</font> <font style="FONT-SIZE: 10pt">11</font><sup><font style="FONT-SIZE: 10pt">3/4</font></sup><font style="FONT-SIZE: 10pt">% senior notes due 2010.</font> <font style="FONT-SIZE: 10pt">UCDP</font> <font style="FONT-SIZE: 10pt">Finance, Inc. does</font> <font style="FONT-SIZE: 10pt">not and will not conduct any operations or hold any
        assets of any kind and will not have any future revenues.</font> <font style="FONT-SIZE: 10pt">UCDP</font> <font style="FONT-SIZE: 10pt">Finance, Inc. meet the conditions set forth in General Instructions H(1)(a) and (b)&nbsp;of Form 10-Q and are therefore filing this form with the reduced disclosure format.</font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font size="2">2</font></a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" noshade>
        </div>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt">PART I &mdash; FINANCIAL INFORMATION</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td valign="top" width="9%">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt">ITEM&nbsp;1.</font></b></p>
                </td>

                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt">Financial Statements</font></b></p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt"><a name="tx68688_1"></a>Universal City Development Partners, Ltd.</font></b> <b><font style="FONT-SIZE: 10pt">and Subsidiaries</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt">Condensed Consolidated</font></b> <b><font style="FONT-SIZE: 10pt">Balance Sheets</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt">(In thousands)</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
            <tr>
                <td valign="middle" width="80%">&nbsp;</td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">March&nbsp;29,<br>
                    2009<br>
                    (unaudited)</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">December&nbsp;31,<br>
                    2008</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><b><font style="FONT-SIZE: 10pt">ASSETS</font></b></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Current assets:</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Cash and cash equivalents</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">69,505</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">87,798</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Accounts receivable, net</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">28,276</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">27,521</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Receivables from related parties</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">4,819</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">7,489</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Inventories, net</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">45,700</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">42,565</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Prepaid expenses and other assets</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">16,446</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">8,899</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Assets held for sale</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">17,637</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">17,637</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Total current assets</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">182,383</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">191,909</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Property and equipment, at cost:</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Land and land improvements</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">476,984</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">475,021</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Buildings and building improvements</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">1,386,609</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">1,381,492</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Equipment, fixtures and furniture</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">1,109,469</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">1,112,537</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Construction in process</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">188,218</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">157,117</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Total property and equipment, at cost:</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">3,161,280</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">3,126,167</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Less accumulated depreciation</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(1,447,778</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(1,426,192</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Property and equipment, net</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">1,713,502</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">1,699,975</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Other assets:</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Investments in unconsolidated entities</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">12,738</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">11,939</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Intangible assets, net</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">52,404</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">52,955</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Deferred finance costs, net</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">9,559</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">11,948</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Other assets</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">6,271</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">6,551</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Total other assets</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 1px solid; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 1px solid; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">80,972</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 1px solid; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 1px solid; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">83,393</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Total assets</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">1,976,857</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">1,975,277</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 1pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Continued on next page.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font size="2">3</font></a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" noshade>
        </div>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt">Universal City Development Partners, Ltd. and Subsidiaries</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt">Condensed Consolidated Balance Sheets</font></b> <b><font style="FONT-SIZE: 10pt">(Continued)</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt">(In thousands)</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
            <tr>
                <td valign="middle" width="82%">&nbsp;</td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">March&nbsp;29,<br>
                    2009<br>
                    (unaudited)</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">December&nbsp;31,<br>
                    2008</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><b><font style="FONT-SIZE: 10pt">LIABILITIES AND PARTNERS&rsquo; EQUITY</font></b></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Current liabilities:</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Accounts payable and accrued liabilities</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">143,048</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">126,148</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Unearned revenue</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">56,505</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">45,508</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Due to related parties</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">9,003</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">11,696</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Interest rate swap liability, at fair market value</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">6,959</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">9,176</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Current portion of capital lease and financing obligations</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">5,810</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">5,822</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Total current liabilities</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">221,325</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">198,350</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Long-term liabilities:</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>
            </tr>

            <tr bgcolor="#cceeff">
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Long-term borrowings, net of current portion</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">1,008,167</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">1,007,960</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Capital lease and financing obligations, net of current portion</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">28,529</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">27,929</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Deferred special fee payable to affiliates</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">92,691</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">91,967</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Other</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">5,698</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">6,725</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Total long-term liabilities</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">1,135,085</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">1,134,581</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Equity:</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>
            </tr>

            <tr bgcolor="#cceeff">
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Partners&rsquo; equity:</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Vivendi Universal Entertainment</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">308,216</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">319,770</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Blackstone</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">308,216</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">319,770</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Accumulated other comprehensive loss</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: black 0.5pt solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 0.5pt solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(2,812</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 0.5pt solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 0.5pt solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(3,976</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Total Partners&rsquo; equity</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">613,620</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">635,564</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Noncontrolling interest in UCRP</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 0.5pt solid" valign="bottom">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 0.5pt solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">6,827</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 0.5pt solid" valign="bottom">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 0.5pt solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">6,782</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Total equity</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td style="BORDER-TOP: medium none; BORDER-BOTTOM: black 0.5pt solid" valign="bottom">&nbsp;</td>

                <td style="BORDER-TOP: medium none; BORDER-BOTTOM: black 0.5pt solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">620,447</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td style="BORDER-TOP: medium none; BORDER-BOTTOM: black 0.5pt solid" valign="bottom">&nbsp;</td>

                <td style="BORDER-TOP: medium none; BORDER-BOTTOM: black 0.5pt solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">642,346</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Total liabilities and partners&rsquo; equity</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">1,976,857</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">1,975,277</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 1pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">See accompanying notes.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font size="2">4</font></a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" noshade>
        </div>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt">Universal City Development Partners, Ltd.</font></b> <b><font style="FONT-SIZE: 10pt">and Subsidiaries</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt">Condensed Consolidated</font></b> <b><font style="FONT-SIZE: 10pt">Statements of Operations</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt">(UNAUDITED)</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt">(In thousands)</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
            <tr>
                <td valign="middle" width="84%">&nbsp;</td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle" width="3%">&nbsp;</td>

                <td valign="middle" width="0%">&nbsp;</td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="12%" colspan="6">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">Three Months Ended</font></b></p>
                </td>

                <td valign="bottom" width="0%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">March&nbsp;29,<br>
                    2009</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="4%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">March&nbsp;30,<br>
                    2008</font></b></p>
                </td>

                <td valign="bottom" width="0%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Operating revenues:</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="3%">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="3%">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="0%">&nbsp;</td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Theme park passes</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">81,777</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">99,417</font></p>
                </td>

                <td valign="bottom" width="0%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Theme park food and beverage</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">18,696</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">24,407</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="0%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Theme park merchandise</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">16,788</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">23,319</font></p>
                </td>

                <td valign="bottom" width="0%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Other theme park related</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">18,045</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">24,732</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="0%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Other</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">28,483</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">35,430</font></p>
                </td>

                <td valign="bottom" width="0%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Total operating revenues</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">163,789</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">207,305</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="0%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Costs and operating expenses:</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Theme park operations</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">40,425</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">43,159</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Theme park selling, general and administrative</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">33,317</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">39,151</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Theme park cost of products sold</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">19,930</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">26,938</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Special fee payable to Vivendi Universal Entertainment and consultant fee</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">10,229</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">13,037</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Depreciation and amortization</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">26,630</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">29,237</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Other</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">26,445</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">31,466</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Total costs and operating expenses</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 1px solid; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 1px solid; BACKGROUND-REPEAT: repeat" valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">156,976</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 1px solid; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 1px solid; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">182,988</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Operating income</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">6,813</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">24,317</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Other expense (income):</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="3%">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Interest expense</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">25,241</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">24,947</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Interest income</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(44</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(992</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Net change in fair value of interest rate swaps and amortization of accumulated other comprehensive loss</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(1,053</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">&mdash;&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Income from investments in unconsolidated entities</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: black 0.5pt solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 0.5pt solid" valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(799</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 0.5pt solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 0.5pt solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(1,485</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Total other expense</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: black 0.5pt solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 0.5pt solid" valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">23,345</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 0.5pt solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 0.5pt solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">22,470</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Net</font> <font style="FONT-SIZE: 10pt">(loss) income</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(16,532</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">1,847</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Less: net income attributable to the noncontrolling interest in UCRP</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 0.5pt solid" valign="bottom">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 0.5pt solid" valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">486</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 0.5pt solid" valign="bottom">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 0.5pt solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">751</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Net</font> <font style="FONT-SIZE: 10pt">(loss) income</font> <font style="FONT-SIZE: 10pt">attributable to the Partners</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(17,018</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">1,096</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 1pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">See accompanying notes.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font size="2">5</font></a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" noshade>
        </div>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt">Universal City Development Partners, Ltd.</font></b> <b><font style="FONT-SIZE: 10pt">and Subsidiaries</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt">Condensed Consolidated</font></b> <b><font style="FONT-SIZE: 10pt">Statement of Comprehensive Income and Changes in Partners&rsquo; Equity</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt">(UNAUDITED)</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt">(In thousands)<br>
        &nbsp;</font></p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="40%">
                    <p style="MARGIN-TOP: 2pt; FONT-WEIGHT: bold; FONT-SIZE: 8pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><a name="Err_bTable"></a></b></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="0%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="10%" colspan="2">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="0%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" colspan="2">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="16">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" colspan="2">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="29">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" colspan="2">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="18">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" colspan="2">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="0%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="10%" colspan="2">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="0%">&nbsp;</td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="40%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="0%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none; BORDER-BOTTOM: black 0.5pt solid" valign="bottom" colspan="8">
                    <p style="MARGIN-TOP: 2pt; FONT-WEIGHT: bold; FONT-SIZE: 8pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>UCDP&rsquo;s Partners</b></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="29">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" colspan="2">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="18">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="7%" colspan="2">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="0%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="10%" colspan="2">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="0%">&nbsp;</td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="40%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="0%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="10%" colspan="2">
                    <p style="MARGIN-TOP: 2pt; FONT-WEIGHT: bold; FONT-SIZE: 8pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>Vivendi</b></p>

                    <p style="MARGIN-TOP: 2pt; FONT-WEIGHT: bold; FONT-SIZE: 8pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>&nbsp;Universal</b></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="0%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 2pt; FONT-WEIGHT: bold; FONT-SIZE: 8pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>Blackstone</b></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="16">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 2pt; FONT-WEIGHT: bold; FONT-SIZE: 8pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>Accumulated</b></p>

                    <p style="MARGIN-TOP: 2pt; FONT-WEIGHT: bold; FONT-SIZE: 8pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>Other</b></p>

                    <p style="MARGIN-TOP: 2pt; FONT-WEIGHT: bold; FONT-SIZE: 8pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>Comprehensive</b></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="29">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 2pt; FONT-WEIGHT: bold; FONT-SIZE: 8pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>Noncontrolling</b></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="18">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="7%" colspan="2">
                    <p style="MARGIN-TOP: 2pt; FONT-WEIGHT: bold; FONT-SIZE: 8pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>Total</b></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="0%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="10%" colspan="2">
                    <p style="MARGIN-TOP: 2pt; FONT-WEIGHT: bold; FONT-SIZE: 8pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>Comprehensive</b></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="0%">&nbsp;</td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="40%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="0%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none; BORDER-BOTTOM: black 0.5pt solid" valign="bottom" width="10%" colspan="2">
                    <p style="MARGIN-TOP: 2pt; FONT-WEIGHT: bold; FONT-SIZE: 8pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>Entertainment</b></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="0%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none; BORDER-BOTTOM: black 0.5pt solid" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 2pt; FONT-WEIGHT: bold; FONT-SIZE: 8pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>Capital</b></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="16">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none; BORDER-BOTTOM: black 0.5pt solid" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 2pt; FONT-WEIGHT: bold; FONT-SIZE: 8pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>Income (Loss)</b></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="29">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none; BORDER-BOTTOM: black 0.5pt solid" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 2pt; FONT-WEIGHT: bold; FONT-SIZE: 8pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>Interest</b></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="18">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none; BORDER-BOTTOM: black 0.5pt solid" valign="bottom" width="7%" colspan="2">
                    <p style="MARGIN-TOP: 2pt; FONT-WEIGHT: bold; FONT-SIZE: 8pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>Equity</b></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="0%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none; BORDER-BOTTOM: black 0.5pt solid" valign="bottom" width="10%" colspan="2">
                    <p style="MARGIN-TOP: 2pt; FONT-WEIGHT: bold; FONT-SIZE: 8pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>Income (Loss)</b></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="0%">&nbsp;</td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="40%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="0%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="10%" colspan="2">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="0%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" colspan="2">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="16">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" colspan="2">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="29">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" colspan="2">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="18">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="7%" colspan="2">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="0%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="10%" colspan="2">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="0%">&nbsp;</td>
            </tr>

            <tr bgcolor="#cceeff">
                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="40%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.3in; TEXT-INDENT: -18px" align="left">Balance as of December 31, 2008</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="0%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="1%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">$</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">319,770</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="0%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="1%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">$</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="82">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">319,770</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="16">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="5">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">$</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="97">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">(3,976</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="29">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">)</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="1%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">$</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="91">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">6,782</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="18">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="1">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">$</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" align="right" width="90">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">642,346</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="0%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="1%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">$</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="9%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">&mdash;</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="0%">&nbsp;</td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="40%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.3in; TEXT-INDENT: -18px" align="left">Amortization of accumulated other comprehensive loss</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="0%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="1%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">&mdash;</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="0%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="1%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="82">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">&mdash;</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="16">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="5">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="97">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">1,164</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="29">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="1%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="91">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">&mdash;</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="18">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="1">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" align="right" width="90">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">1,164</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="0%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="1%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="9%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">1,164</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="0%">&nbsp;</td>
            </tr>

            <tr bgcolor="#cceeff">
                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="40%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.3in; TEXT-INDENT: -18px" align="left">Distributions to Holdings</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="0%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="1%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">(3,045</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="0%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">)</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="1%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="82">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">(3,045</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="16">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">)</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="5">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="97">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">&mdash;</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="29">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="1%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="91">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">&mdash;</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="18">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="1">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" align="right" width="90">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">(6,090</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="0%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">)</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="1%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="9%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">&mdash;</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="0%">&nbsp;</td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="40%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.3in; TEXT-INDENT: -18px" align="left">Distributions to noncontrolling interest in UCRP</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="0%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="1%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">&mdash;</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="0%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="1%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="82">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">&mdash;</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="16">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="5">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="97">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">&mdash;</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="29">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="1%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="91">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">(441</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="18">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">)</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="1">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" align="right" width="90">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">(441</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="0%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">)</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="1%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="9%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">&mdash;</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none" valign="bottom" width="0%">&nbsp;</td>
            </tr>

            <tr bgcolor="#cceeff">
                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="40%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.3in; TEXT-INDENT: -18px" align="left">Net (loss) income</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="0%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BORDER-BOTTOM: black 0.5pt solid; BACKGROUND-REPEAT: repeat" valign="bottom" width="1%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BORDER-BOTTOM: black 0.5pt solid; BACKGROUND-REPEAT: repeat" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">(8,509</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BORDER-BOTTOM: #ffffff 0.5pt solid; BACKGROUND-REPEAT: repeat" valign="bottom" width="0%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">)</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BORDER-BOTTOM: black 0.5pt solid; BACKGROUND-REPEAT: repeat" valign="bottom" width="1%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BORDER-BOTTOM: black 0.5pt solid; BACKGROUND-REPEAT: repeat" valign="bottom" width="82">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">(8,509</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BORDER-BOTTOM: #ffffff 0.5pt solid; BACKGROUND-REPEAT: repeat" valign="bottom" width="16">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">)</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BORDER-BOTTOM: black 0.5pt solid; BACKGROUND-REPEAT: repeat" valign="bottom" width="5">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BORDER-BOTTOM: black 0.5pt solid; BACKGROUND-REPEAT: repeat" valign="bottom" width="97">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">&mdash;</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="29">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BORDER-BOTTOM: black 0.5pt solid; BACKGROUND-REPEAT: repeat" valign="bottom" width="1%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BORDER-BOTTOM: black 0.5pt solid; BACKGROUND-REPEAT: repeat" valign="bottom" width="91">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">486</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BACKGROUND-REPEAT: repeat" valign="bottom" width="18">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BORDER-BOTTOM: black 0.5pt solid; BACKGROUND-REPEAT: repeat" valign="bottom" width="1">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BORDER-BOTTOM: black 0.5pt solid; BACKGROUND-REPEAT: repeat" valign="bottom" align="right" width="90">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">(16,532</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BORDER-BOTTOM: #ffffff 0.5pt solid; BACKGROUND-REPEAT: repeat" valign="bottom" width="0%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">)</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BORDER-BOTTOM: black 0.5pt solid; BACKGROUND-REPEAT: repeat" valign="bottom" width="1%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BORDER-BOTTOM: black 0.5pt solid; BACKGROUND-REPEAT: repeat" valign="bottom" width="9%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">(16,532</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BACKGROUND-POSITION: 0% 0%; BORDER-TOP: medium none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-LEFT: medium none; BORDER-BOTTOM: #ffffff 0.5pt solid; BACKGROUND-REPEAT: repeat" valign="bottom" width="0%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">)</p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none; BORDER-BOTTOM: medium none" valign="bottom" width="40%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.3in; TEXT-INDENT: -18px" align="left">Balance as of March 29, 2009</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none; BORDER-BOTTOM: medium none" valign="bottom" width="0%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none; BORDER-BOTTOM: black 2pt double" valign="bottom" width="1%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">$</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none; BORDER-BOTTOM: black 2pt double" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">308,216</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none; BORDER-BOTTOM: medium none" valign="bottom" width="0%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none; BORDER-BOTTOM: black 2pt double" valign="bottom" width="1%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">$</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none; BORDER-BOTTOM: black 2pt double" valign="bottom" width="82">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">308,216</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none; BORDER-BOTTOM: medium none" valign="bottom" width="16">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none; BORDER-BOTTOM: black 2pt double" valign="bottom" width="5">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">$</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none; BORDER-BOTTOM: black 2pt double" valign="bottom" width="97">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">(2,812</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none; BORDER-BOTTOM: medium none" valign="middle" width="29">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">)</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none; BORDER-BOTTOM: black 2pt double" valign="bottom" width="1%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">$</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none; BORDER-BOTTOM: black 2pt double" valign="bottom" width="91">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">6,827</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none; BORDER-BOTTOM: medium none" valign="bottom" width="18">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none; BORDER-BOTTOM: black 2pt double" valign="bottom" width="1">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">$</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none; BORDER-BOTTOM: black 2pt double" valign="bottom" align="right" width="90">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">620,447</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none; BORDER-BOTTOM: medium none" valign="bottom" width="0%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none; BORDER-BOTTOM: black 2pt double" valign="bottom" width="1%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">$</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none; BORDER-BOTTOM: black 2pt double" valign="bottom" width="9%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">(15,368</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #ffffff; BORDER-LEFT: medium none; BORDER-BOTTOM: medium none" valign="middle" width="0%">
                    <p style="MARGIN-TOP: 2pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">)</p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">See accompanying notes.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font size="2">6</font></a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" noshade>
        </div>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt">Universal City Development Partners, Ltd.</font></b> <b><font style="FONT-SIZE: 10pt">and Subsidiaries</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt">Condensed Consolidated</font></b> <b><font style="FONT-SIZE: 10pt">Statements of Cash Flows</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt">(UNAUDITED)</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt">(In thousands)</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
            <tr>
                <td valign="middle" width="86%">&nbsp;</td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="6">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">Three months ended</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">March&nbsp;29,<br>
                    2009</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">March&nbsp;30,<br>
                    2008</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">CASH FLOWS FROM OPERATING ACTIVITIES</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>
            </tr>

            <tr>
                <td style="BACKGROUND: #cceeff" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Net cash and cash equivalents provided by operating activities</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">25,793</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp;$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">43,470</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">CASH FLOWS FROM INVESTING ACTIVITIES</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>
            </tr>

            <tr>
                <td style="BACKGROUND: #cceeff" valign="top" align="left">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Property and equipment acquisitions</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff; BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff; BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(37,519</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff; BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff; BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(31,106</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Net cash and cash equivalents used in investing activities</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(37,519</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(31,106</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Continued on next page.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font size="2">7</font></a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" noshade>
        </div>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt">Universal City Development Partners, Ltd.</font></b> <b><font style="FONT-SIZE: 10pt">and Subsidiaries</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt">Condensed Consolidated</font></b> <b><font style="FONT-SIZE: 10pt">Statements of Cash Flows (Continued)</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt">(UNAUDITED)</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt">(In thousands)</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
            <tr>
                <td valign="middle" width="84%">&nbsp;</td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="6">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">Three months ended</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">March&nbsp;29,<br>
                    2009</font></b></p>
                </td>

                <td valign="bottom" width="0%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">March&nbsp;30,<br>
                    2008</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">CASH FLOWS FROM FINANCING ACTIVITIES</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="0%">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Distributions to noncontrolling interest in UCRP</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(441</font></p>
                </td>

                <td valign="bottom" width="0%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>

                <td valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(695</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Payment of distributions</font> <font style="FONT-SIZE: 10pt">to Holdings</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(6,090</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="0%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(19,016</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Payments on long-term borrowings, capital lease and financing obligations, net</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(36</font></p>
                </td>

                <td valign="bottom" width="0%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)&nbsp;</font></p>
                </td>

                <td valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">&mdash;&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Net cash and cash equivalents used in financing activities</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(6,567</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="0%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(19,711</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Net decrease in cash and cash equivalents</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(18,293</font></p>
                </td>

                <td valign="bottom" width="0%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>

                <td valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(7,347</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)&nbsp;</font></p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Cash and cash equivalents at beginning of period</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 1px solid; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 1px solid; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">87,798</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="0%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 1px solid; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 1px solid; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">127,874</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Cash and cash equivalents at end of period</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">69,505</font></p>
                </td>

                <td valign="bottom" width="0%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">120,527</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 1pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle" width="0%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">SUPPLEMENTAL DISCLOSURES OF NON-CASH INFORMATION</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="0%">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Increase of property and equipment related accrued liabilities</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">2,087</font></p>
                </td>

                <td valign="bottom" width="0%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">5,009</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 1pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle" width="0%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">(Decrease) increase in interest rate swap liability</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(2,217</font></p>
                </td>

                <td valign="bottom" width="0%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)&nbsp;</font></p>
                </td>

                <td valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">6,782</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 1pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle" width="0%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Disposal of fully depreciated assets</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">4,493</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="0%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">410</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 1pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle" width="0%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">See accompanying notes.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font size="2">8</font></a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" noshade>
        </div>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt">Universal City Development Partners, Ltd.</font></b> <b><font style="FONT-SIZE: 10pt">and Subsidiaries</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt">Notes to</font></b> <b><font style="FONT-SIZE: 10pt">Condensed Consolidated</font></b> <b><font style="FONT-SIZE: 10pt">Financial Statements</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt">(UNAUDITED)</font></b></p>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt">1. General</font></b></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><i><font style="FONT-SIZE: 10pt">Basis of Presentation</font></i></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">The accompanying unaudited</font> <font style="FONT-SIZE: 10pt">condensed consolidated</font> <font style="FONT-SIZE: 10pt">financial statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures which are normally included in financial
        statements prepared in accordance with U.S. generally accepted accounting principles have been omitted pursuant to those rules and regulations. The unaudited</font> <font style="FONT-SIZE: 10pt">condensed consolidated</font> <font style="FONT-SIZE: 10pt">financial statements reflect all normal recurring adjustments which are, in the opinion of the management, necessary to present fairly the financial position and the results of operations for the interim periods. The results for the
        interim periods are not necessarily indicative of the results that can be expected for a full year. The accompanying unaudited</font> <font style="FONT-SIZE: 10pt">condensed consolidated</font> <font style="FONT-SIZE: 10pt">financial statements should be read in conjunction with the audited</font> <font style="FONT-SIZE: 10pt">consolidated</font> <font style="FONT-SIZE: 10pt">financial statements for the year ended December&nbsp;31, 2008 and the notes thereto, filed with the Securities
        and Exchange Commission under cover of Form 10-K.</font></p>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">The accompanying unaudited</font> <font style="FONT-SIZE: 10pt">condensed consolidated</font> <font style="FONT-SIZE: 10pt">financial statements include the consolidated amounts of Universal City</font> <font style="FONT-SIZE: 10pt">Development Partners, Ltd.</font> <font style="FONT-SIZE: 10pt">( &ldquo;UCDP&rdquo;); Universal City Travel
        Partners d/b/a Universal Parks&nbsp;&amp; Resorts Vacations (&ldquo;UPRV&rdquo;); UCDP Finance, Inc.; and Universal City Restaurant Partners, Ltd. (&ldquo;UCRP&rdquo;) (collectively, the &ldquo;Company&rdquo;). All significant intercompany balances and transactions have been eliminated upon consolidation.</font></p>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Through Universal City Florida Holding Co. I (&ldquo;Holding I&rdquo;) and Universal City Florida Holding Co. II (&ldquo;Holding II&rdquo;, collectively with Holding I, &ldquo;Holdings&rdquo;), the Company&rsquo;s ultimate owners, each having a 50% interest, are Universal City Property Management II LLC (&ldquo;Universal CPM&rdquo;) and
        Blackstone Capital Partners (&ldquo;Blackstone&rdquo;) (collectively, the &ldquo;Partners&rdquo;). Universal CPM is a wholly owned subsidiary of Vivendi Universal Entertainment LLLP (&ldquo;VUE&rdquo;), an affiliate of Universal Studios, Inc. (&ldquo;USI&rdquo;), which is an indirect subsidiary of NBC Universal, Inc. (&ldquo;NBCU&rdquo;).</font></p>

        <p style="MARGIN-TOP: 13.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><i><font style="FONT-SIZE: 10pt">Period End</font></i></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">The three months ended March&nbsp;29, 2009 contained 88 days while the three months ended March 30, 2008 contained 90 days.</font></p>

        <p style="MARGIN-TOP: 13.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><i><font style="FONT-SIZE: 10pt">Seasonality</font></i></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Based on the seasonality of attendance, the results for the three months ended March&nbsp;29, 2009 and March 30, 2008 are not necessarily indicative of results for the full year.</font> <font style="FONT-SIZE: 10pt">The</font> <font style="FONT-SIZE: 10pt">week before and after Easter are peak attendance periods. In 2008, Easter was on March
        23. In 2009, Easter was on April 12. This shift in Easter moved the peak attendance period from the first quarter of 2008 to the second quarter of 2009.</font></p>

        <p style="MARGIN-TOP: 13.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><i><font style="FONT-SIZE: 10pt">Reclassification</font></i><i><font style="FONT-SIZE: 10pt">s</font></i></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Certain items in the prior years&rsquo;</font> <font style="FONT-SIZE: 10pt">condensed consolidated</font> <font style="FONT-SIZE: 10pt">financial statements have been reclassified to conform to the 2009 presentation. The cash flows during the quarter ended March 30, 2008 related to</font> <font style="FONT-SIZE: 10pt">payments of</font>
        <font style="FONT-SIZE: 10pt">distributions</font> <font style="FONT-SIZE: 10pt">to Holdings</font> <font style="FONT-SIZE: 10pt">and changes in</font> <font style="FONT-SIZE: 10pt">accounts payable and</font> <font style="FONT-SIZE: 10pt">accrued liabilities related to property and equipment, which totaled $11,610,000 and $5,010,000, respectively, were reclassified out of cash flow from operating activities. This reclassification had no impact on net income, total assets or
        partners&rsquo; equity.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><i><font style="FONT-SIZE: 10pt">Inventories</font></i></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">The major components of inventories are as follows (in thousands):</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="97%" align="center" border="0">
            <tr>
                <td valign="middle" width="86%">&nbsp;</td>

                <td valign="middle" width="3">&nbsp;</td>

                <td valign="middle" width="59">&nbsp;</td>

                <td valign="middle" width="5">&nbsp;</td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="middle" width="5">&nbsp;</td>

                <td valign="middle" width="55">&nbsp;</td>

                <td valign="middle">&nbsp;</td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">March&nbsp;29,<br>
                    2009</font></b></p>
                </td>

                <td valign="bottom" width="5">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">December&nbsp;31,<br>
                    2008</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND: #cceeff" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Merchandise</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="3">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="59">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">15,880</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="5">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="5">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="55">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">12,421</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Food and beverage</font></p>
                </td>

                <td valign="bottom" width="3">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="59">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">3,642</font></p>
                </td>

                <td valign="bottom" width="5">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="5">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="55">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">3,962</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND: #cceeff" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Operating supplies and maintenance parts</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="3">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="59">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">28,180</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="5">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="5">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="55">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">28,156</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Less: reserves</font></p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="3">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="59">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(2,002</font></p>
                </td>

                <td valign="bottom" width="5">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="5">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="55">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(1,974</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND: #cceeff" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Total</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="3">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="59">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">45,700</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="5">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="5">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="55">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">42,565</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">&nbsp;</td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom" width="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom" width="59">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle" width="5">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom" width="5">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom" width="55">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font size="2">9</font></a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" noshade>
        </div>

        <p style="MARGIN-TOP: 13.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><i><font style="FONT-SIZE: 10pt">Intangible Assets</font></i></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Intangible assets primarily consist of the rights to use certain characters and trademarks. Intangible assets are recorded at net present value and amortized on a straight-line basis over a period ranging from 10 to 20&nbsp;years, which has a weighted average amortizable life of 11&nbsp;years. Intangible assets totaled $52,404,000 and
        $52,955,000, respectively, as of March&nbsp;29, 2009 and December&nbsp;31, 2008. This included $15,247,000 and $14,696,000 in accumulated amortization, respectively, as of March&nbsp;29, 2009 and December&nbsp;31, 2008. Amortization expense amounted to $551,000 and $596,000, respectively, during the three months ended March&nbsp;29, 2009 and March 30, 2008. Amortization of existing intangible assets will be approximately $1,768,000 for 2009 and $5,255,000 each of the following four
        years.</font></p>

        <p style="MARGIN-TOP: 13.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><i><font style="FONT-SIZE: 10pt">Change in Estimate</font></i></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Due to the construction and renovation of new rides and attractions, portions of existing rides and attractions will be disposed of prior to their original estimated useful life. As a result, depreciation of the existing rides and attractions will be accelerated to reflect their remaining useful life. For the three months ended March 29, 2009
        and March&nbsp;30, 2008, the Company incurred additional depreciation expense of $916,000 and $1,259,000, respectively, relating to accelerating the life of various ride and show assets.</font></p>

        <p style="MARGIN-TOP: 13.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><i><font style="FONT-SIZE: 10pt">Recent Accounting Pronouncements</font></i></p>

        <p style="MARGIN-TOP: 4pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><i><font style="FONT-SIZE: 10pt">Determination</font></i> <i><font style="FONT-SIZE: 10pt">of the Useful Life of Intangible Assets</font></i><font style="FONT-SIZE: 10pt">&rdquo; (&ldquo;FSP 142-3&rdquo;).&nbsp;FSP 142-3 amends the factors that should be considered in developing renewal or extension assumptions used to determine the useful life of a recognized intangible
        asset under FASB Statement No.&nbsp;142, &ldquo;</font><i><font style="FONT-SIZE: 10pt">Goodwill and Other Intangible Assets</font></i><font style="FONT-SIZE: 10pt">&rdquo; and requires enhanced related disclosures.&nbsp;FSP 142-3 must be applied prospectively to all intangible assets acquired as of and subsequent to fiscal years beginning after December&nbsp;15, 2008.&nbsp;FSP 142-3 became effective for the Company on January&nbsp;1, 2009. Although future transactions involving
        intangible assets may be impacted by this guidance, FSP 142-3 did not impact the Company&rsquo;s current financial statements as the Company did not acquire any intangible assets during the three months ended March 29, 2009.</font></p>

        <p style="MARGIN-TOP: 7.8pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">In March&nbsp;2008, the FASB issued SFAS No.&nbsp;161,</font> <i><font style="FONT-SIZE: 10pt">&ldquo;Disclosures about Derivative Instruments and Hedging Activities&mdash;an amendment of FASB Statement No.</font></i><font style="FONT-SIZE: 10pt">&nbsp;</font><i><font style="FONT-SIZE: 10pt">133&rdquo;</font></i>
        <font style="FONT-SIZE: 10pt">(&ldquo;SFAS 161&rdquo;). SFAS 161 expands the disclosure requirements for derivative instruments and hedging activities. This Statement specifically requires entities to provide enhanced disclosures addressing the following: how and why an entity uses derivative instruments; how derivative instruments and related hedged items are accounted for under Statement 133 and its related interpretations; and how derivative instruments and related hedged items
        affect an entity&rsquo;s financial position, financial performance, and cash flows. SFAS 161 is effective for fiscal years beginning after November&nbsp;15, 2008. SFAS No.&nbsp;161 became effective for the Company on January&nbsp;1, 2009. The Company&rsquo;s adoption of the standard did not have a material impact on its financial position, results of operations or cash flows</font> <font style="FONT-SIZE: 10pt">as it is primarily disclosure related.<br>
        </font></p>

        <p style="MARGIN-TOP: 7.8pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">In December&nbsp;2007, the FASB issued SFAS No.&nbsp;160, &ldquo;</font><i><font style="FONT-SIZE: 10pt">Noncontrolling Interests in Consolidated Financial Statements&mdash;An Amendment of ARB No.</font></i><font style="FONT-SIZE: 10pt">&nbsp;</font><i><font style="FONT-SIZE: 10pt">51&rdquo;</font></i> <font style="FONT-SIZE: 10pt">(&ldquo;SFAS
        160&rdquo;). SFAS 160 establishes new accounting and reporting standards for the noncontrolling interest in a subsidiary and for the deconsolidation of a subsidiary. SFAS 160 is effective for fiscal years beginning on or after December&nbsp;15, 2008. SFAS 160</font> <font style="FONT-SIZE: 10pt">became</font> <font style="FONT-SIZE: 10pt">effective for the Company on January&nbsp;1, 2009. Although this guidance impacts the presentation of noncontrolling interests in certain of the
        Company&rsquo;s investments in</font> <font style="FONT-SIZE: 10pt">consolidated</font> <font style="FONT-SIZE: 10pt">entities, the adoption of the standard</font> <font style="FONT-SIZE: 10pt">did not have</font> <font style="FONT-SIZE: 10pt">a material impact on</font> <font style="FONT-SIZE: 10pt">the Company&rsquo;s</font> <font style="FONT-SIZE: 10pt">financial position, results of operations or cash flows.</font> <font style="FONT-SIZE: 10pt">Specifically, SFAS 160 impacted the
        Company&rsquo;s financial statements by reclassifying the noncontrolling interest in UCRP (formerly known as minority interest) from the liability section into the equity section of the</font> <font style="FONT-SIZE: 10pt">Condensed Consolidated</font> <font style="FONT-SIZE: 10pt">Balance Sheets. As a result, the net income attributable to the noncontrolling interest in UCRP is no longer excluded from the determination of net income (or loss) on the</font>
        <font style="FONT-SIZE: 10pt">Condensed Consolidated</font> <font style="FONT-SIZE: 10pt">Statements of Operations. The determination of the income attributable to noncontrolling interest in UCRP continues to be calculated based on the underlying ownership percentage.</font> <font style="FONT-SIZE: 10pt">The adoption resulted in the reclassification of $6,782,000 of noncontrolling interest in UCRP from minority interest to Partners&rsquo; equity on the December&nbsp;31, 2008 Condensed
        Consolidated Balance Sheets and the presentation of net income of $751,000 attributable to the noncontrolling interest in UCRP in the March&nbsp;30, 2008 Condensed Consolidated Statements of Operations.</font></p>

        <p style="MARGIN-TOP: 7.8pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p style="MARGIN-TOP: 7.8pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">In December 2007, the FASB issued SFAS No.&nbsp;141(R), &ldquo;</font><i><font style="FONT-SIZE: 10pt">Business Combinations&rdquo;</font></i> <font style="FONT-SIZE: 10pt">(&ldquo;SFAS 141(R)&rdquo;). This statement modifies certain aspects of how the acquiring entity recognizes and measures the identifiable assets, the liabilities assumed and
        the goodwill acquired in a business combination. SFAS 141(R) is effective for fiscal years beginning after December&nbsp;15, 2008.</font> <font style="FONT-SIZE: 10pt">Although</font> <font style="FONT-SIZE: 10pt">SFAS 141 (R)&nbsp;will impact the Company&rsquo;s accounting for business combinations completed on or after January&nbsp;1, 2009, SFAS 141 (R) did not impact the Company&rsquo;s current financial statements as the Company did not enter into any business combinations during
        the three months ended March 29, 2009.</font></p>

        <p style="MARGIN-TOP: 7.8pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p style="MARGIN-TOP: 7.8pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font size="2">10</font></p>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" noshade>
        </div>

        <p style="MARGIN-TOP: 13.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt">2. Long-Term Borrowings</font></b></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Indebtedness consisted of the following (in thousands, except percentages):</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
            <tr>
                <td valign="middle" width="57%">&nbsp;</td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="middle" width="6">&nbsp;</td>

                <td valign="middle" width="78">&nbsp;</td>

                <td valign="middle">&nbsp;</td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">Interest&nbsp;Rate</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">Maturity Date</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">As&nbsp;of&nbsp;March&nbsp;29,<br>
                    2009</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">As&nbsp;of</font></b><br>
                    <b><font style="FONT-SIZE: 7.5pt">December&nbsp;31,<br>
                    2008</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND: #cceeff" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Senior secured credit facility</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt">LIBOR&nbsp;+&nbsp;300&nbsp;bps (1)</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt">(2)</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">509,000</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="6">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="78">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">509,000</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">UCDP fixed rate senior notes (&ldquo;April 2010 notes&rdquo;)</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt">11.75%</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt">April&nbsp;1,&nbsp;2010</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">500,000</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="6">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="78">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">500,000</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND: #cceeff" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Gross principal payable</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">1,009,000</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="6">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="78">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">1,009,000</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Unamortized discounts</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(833</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="6">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="78">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(1,040</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND: #cceeff" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Total debt</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">1,008,167</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="6">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="78">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">1,007,960</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 1pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom" width="6">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom" width="78">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td valign="top" width="4%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">(1)</font></p>
                </td>

                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">The LIBOR interest rate on the senior secured credit facility is subject to a 300 bps floor.</font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td valign="top" width="4%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">(2)</font></p>
                </td>

                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">The maturity date of the senior secured credit facility is June&nbsp;9, 2011, however, it is repayable in full at April&nbsp;1, 2010, if the April 2010 notes and</font> <font style="FONT-SIZE: 10pt">Holdings&rsquo;</font> <font style="FONT-SIZE: 10pt">May 2010 notes are not refinanced or repaid in full prior to such date.</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">As of March&nbsp;29, 2009 and December&nbsp;31, 2008, the Company had $100,000,000 available under its revolving credit facilities.</font></p>

        <p style="MARGIN-TOP: 13.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt">3. Interest Rate Swaps</font></b></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">The Company utilizes interest rate swap agreements as a risk management tool to manage a portion of its interest rate exposures. The principal objective of the swap agreements is to minimize the risks and costs associated with financial activities. The Company does not use financial instruments for trading purposes. The Company specifically
        designates interest rate swap hedges of outstanding debt instruments and recognizes interest differentials in the period they occur.</font></p>

        <p></p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font size="2">11</font></a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" noshade>
        </div>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">The Company follows SFAS No.&nbsp;133, &ldquo;</font><i><font style="FONT-SIZE: 10pt">Accounting for Derivative Instruments and Hedging Activities&rdquo;</font></i> <font style="FONT-SIZE: 10pt">(&ldquo;SFAS&nbsp;133&rdquo;), as amended by SFAS No. 138, &ldquo;</font><i><font style="FONT-SIZE: 10pt">Accounting for Certain Derivative Instruments
        and Certain Hedging Activities an amendment of FASB Statement No. 133</font></i><font style="FONT-SIZE: 10pt">&rdquo; and SFAS No.&nbsp;149, &ldquo;</font><i><font style="FONT-SIZE: 10pt">Amendment of Statement 133 on Derivative Instruments and Hedging Activities&rdquo;</font></i><font style="FONT-SIZE: 10pt">, to account for its interest rate swaps. This standard established accounting and reporting standards for derivative instruments, including certain derivative instruments embedded
        in other contracts (collectively referred to as derivatives), and for hedging activities. It requires that the entity recognize all derivatives as either assets or liabilities in the balance sheet and measure those assets at fair value. The fair values are the estimated amounts that the Company would pay or receive upon termination of the swap agreements at the reporting date, taking into account current interest rates and the current creditworthiness of the counterparties. Changes in
        the underlying market value of swap arrangements that qualify as cash flow hedging activities under SFAS&nbsp;133 are recognized as other comprehensive income (loss) in the accompanying</font> <font style="FONT-SIZE: 10pt">consolidated</font> <font style="FONT-SIZE: 10pt">statements of comprehensive income and changes in partners&rsquo; equity. Changes in the underlying market value of swap arrangements that do not qualify as hedging activities under SFAS&nbsp;133 are recognized as a
        change in the fair value of interest rate swaps in the accompanying</font> <font style="FONT-SIZE: 10pt">consolidated</font> <font style="FONT-SIZE: 10pt">statements of operations. Additionally, the accumulated other comprehensive income (loss) related to interest rate swaps that become ineffective is amortized on a straight-line basis through the change in the fair value of interest rate swaps in the accompanying</font> <font style="FONT-SIZE: 10pt">consolidated</font>
        <font style="FONT-SIZE: 10pt">statements of operations. In the fourth quarter of 2008, the Company&rsquo;s interest rate swap agreements became ineffective in accordance with SFAS No.&nbsp;133, &ldquo;</font><i><font style="FONT-SIZE: 10pt">Accounting for Derivative Instruments and Hedging Activities&rdquo;</font></i> <font style="FONT-SIZE: 10pt">(&ldquo;SFAS&nbsp;133&rdquo;), as amended.</font> <font style="FONT-SIZE: 10pt">Accordingly, the accounting treatment for these interest rate
        swaps is different during the three months ended March 29, 2009 as compared to the three months March 30, 2008. The following table summarizes the notional values and fair values of our derivative financial instruments as of March&nbsp;29, 2009 (in thousands, except percentages):</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
            <tr>
                <td valign="middle" width="120">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle" width="120">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle" width="120">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle" width="76">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle" width="182">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle" width="120">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="120">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">Notional</font></b><font style="FONT-SIZE: 7.5pt">&nbsp;</font><b><font style="FONT-SIZE: 7.5pt">value</font></b></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="120">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">Expiration</font></b><font style="FONT-SIZE: 7.5pt">&nbsp;</font><b><font style="FONT-SIZE: 7.5pt">date</font></b></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="120">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">Fair</font></b><font style="FONT-SIZE: 7.5pt">&nbsp;</font><b><font style="FONT-SIZE: 7.5pt">value</font></b></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="76">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest</font></b><font style="FONT-SIZE: 7.5pt">&nbsp;</font><b><font style="FONT-SIZE: 7.5pt">rate</font></b></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="182">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">Accounting treatment</font></b></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="120">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">Terms</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND: #cceeff" valign="bottom" width="120">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0.8pt; MARGIN-LEFT: 0in; TEXT-INDENT: 52px" align="right"><font style="FONT-SIZE: 10pt">$200,000</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="120">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0.8pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="right"><font style="FONT-SIZE: 10pt">November&nbsp;20,&nbsp;2009</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="120">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0.8pt; MARGIN-LEFT: 0in; TEXT-INDENT: 55px" align="right"><font style="FONT-SIZE: 10pt">&nbsp;$(4,714)</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="76">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0.8pt; MARGIN-LEFT: 0in; TEXT-INDENT: 64px" align="right"><font style="FONT-SIZE: 10pt">4.77%</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="182">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt">Statement of operations</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="120">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt">Fixed</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="120">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0.8pt; MARGIN-LEFT: 0in; TEXT-INDENT: 57px" align="right"><font style="FONT-SIZE: 10pt">125,000</font></p>
                </td>

                <td valign="bottom" width="120">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0.8pt; MARGIN-LEFT: 0in; TEXT-INDENT: 20px" align="right"><font style="FONT-SIZE: 10pt">October 15, 2009</font></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="120">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0.8pt; MARGIN-LEFT: 0in; TEXT-INDENT: 60px" align="right"><font style="FONT-SIZE: 10pt">(2,245)</font></p>
                </td>

                <td valign="bottom" width="76">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0.8pt; MARGIN-LEFT: 0in; TEXT-INDENT: 64px" align="right"><font style="FONT-SIZE: 10pt">4.41%</font></p>
                </td>

                <td valign="bottom" width="182">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt">Statement of operations</font></p>
                </td>

                <td valign="bottom" width="120">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt">Fixed</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #cceeff; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 3pt double" valign="top" width="120">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0.8pt; MARGIN-LEFT: 0in; TEXT-INDENT: 52px" align="right"><font style="FONT-SIZE: 10pt">$325,000</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="120">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #cceeff; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 3pt double" valign="bottom" width="120">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0.8pt; MARGIN-LEFT: 0in; TEXT-INDENT: 55px" align="right"><font style="FONT-SIZE: 10pt">$(6,959)</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="76">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="182">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="120">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p></p>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">The Company is exposed to credit loss in the event of nonperformance by the other party to its derivative financial instruments. The Company limits this exposure by entering into agreements directly with a number of major financial institutions that meet its credit standards and that are expected to satisfy their obligations under these
        contracts. The Company views derivative financial instruments as a risk management tool in the prudent operation of its business.<br>
        The Company utilizes SFAS 157 in relation to its accounting for assets and liabilities carried at fair value. SFAS 157, among other things, defines fair value, establishes a consistent framework&nbsp;for measuring fair value and expands disclosure for each major asset and&nbsp;liability category measured at fair value on either a recurring or nonrecurring basis. SFAS 157 clarifies that fair value is an exit price, representing the&nbsp;amount that would be received to sell an asset or
        paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a&nbsp;market-based measurement that should be determined based on assumptions that&nbsp;market participants would use in pricing an asset or liability. As a basis for considering such assumptions, SFAS 157 establishes a three-tier fair value&nbsp;hierarchy, which prioritizes the inputs used in measuring fair value as follows:</font></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.3in" align="left"><i><font style="FONT-SIZE: 10pt">Level 1</font></i><font style="FONT-SIZE: 10pt">. Observable inputs such as quoted prices in active markets for identical assets or liabilities;</font> <font style="FONT-SIZE: 7.5pt">&nbsp;</font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.3in" align="left"><i><font style="FONT-SIZE: 10pt">Level 2</font></i><font style="FONT-SIZE: 10pt">. Inputs, other than quoted prices included within Level 1, that are observable either directly or indirectly; and</font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.3in" align="left"><i><font style="FONT-SIZE: 10pt">Level 3</font></i><font style="FONT-SIZE: 10pt">. Unobservable inputs in which there is little or no market data, which&nbsp;require the reporting entity to develop its own assumptions.</font></p>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">The Company&rsquo;s derivative financial instruments as of March&nbsp;29, 2009 are valued using inputs that fall within Level 2 of the three-tier hierarchy established by SFAS 157. Furthermore, as of March 29, 2009 and December 31, 2008, respectively, the Company did not have assets or liabilities valued using inputs that fall within Level 1 or
        Level 3 of the three-tier hierarchy established by SFAS 157. Information to determine the fair values of the interest rate swap agreements is provided to the Company by the counterparty. The Company believes the LIBOR yield curves are the primary significant input used by the counterparty to determine the fair value information. &nbsp;LIBOR yield curves are considered Level 2 observable market inputs. Additionally, in making the fair value determination, the Company monitors the credit
        and nonperformance risk associated with its derivative counterparties and believes they are not material to the interest rate swap agreements and do not require a credit adjustment at March 29, 2008 or December 31, 2008, respectively.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font size="2">12</font></a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" noshade>
        </div>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt">4. Accounts Payable and Accrued Liabilities</font></b></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">The following presents major components of accounts payable and accrued liabilities (in&nbsp;thousands) as of:</font></p>

        <table cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
            <tr>
                <td valign="middle" width="82%">&nbsp;</td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle" width="66">&nbsp;</td>

                <td valign="bottom" width="28">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">March&nbsp;29,<br>
                    2009</font></b></p>
                </td>

                <td valign="bottom" width="28">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">December&nbsp;31,<br>
                    2008</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND: #cceeff" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Accounts payable</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="66">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">4,935</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="28">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">10,920</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Capital expenditures</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="66">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">38,804</font></p>
                </td>

                <td valign="bottom" width="28">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">36,717</font></p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND: #cceeff" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Marketing and advertising</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="66">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">7,479</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="28">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">4,832</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Interest</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="66">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">33,464</font></p>
                </td>

                <td valign="bottom" width="28">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">19,897</font></p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND: #cceeff" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Compensation and benefits</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="66">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">26,581</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="28">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">27,301</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Operating accruals</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="66">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">16,753</font></p>
                </td>

                <td valign="bottom" width="28">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">15,043</font></p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND: #cceeff" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Consulting fees</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="66">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">3,451</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="28">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">4,443</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Property and sales tax</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="66">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">6,331</font></p>
                </td>

                <td valign="bottom" width="28">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">1,972</font></p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND: #cceeff" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Other</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff; BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff; BORDER-BOTTOM: black 1px solid" valign="bottom" width="66">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">5,250</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="28">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff; BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff; BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">5,023</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Total</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td valign="bottom" width="66">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">143,048</font></p>
                </td>

                <td valign="bottom" width="28">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">126,148</font></p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 1pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom" width="66">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="28">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 1pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p style="MARGIN-TOP: 13.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt">5. Capital leases and financing obligations</font></b></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Intangible assets and equipment, fixtures and furniture included approximately $42,617,000 and $42,788,000, related to financing obligations and capital leases as of March&nbsp;29, 2009 and December&nbsp;31, 2008, respectively. This included</font> <font style="FONT-SIZE: 10pt">$932,000</font> <font style="FONT-SIZE: 10pt">and $761,000 in
        accumulated depreciation and amortization as of March&nbsp;29, 2009 and December&nbsp;31, 2008, respectively. At March&nbsp;29, 2009, future minimum payments due under financing obligations and capital leases totaled approximately $34,339,000 (net of $12,662,000 in interest). Future minimum payments include $5,698,000, $4,173,000, $3,879,000, $3,591,000, $3,479,000, and $13,519,000, due in 2009, 2010, 2011, 2012, 2013, and years subsequent to 2013, respectively.</font></p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font size="2">13</font></a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" noshade>
        </div>

        <p style="MARGIN-TOP: 13.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt">6. Comprehensive loss</font></b></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Comprehensive loss is as follows (in thousands):</font></p>

        <table cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
            <tr>
                <td valign="middle" width="83%">&nbsp;</td>

                <td valign="bottom" width="1%">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="bottom" width="1%">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="6">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">Three Months Ended</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">March&nbsp;29,<br>
                    2009</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">March&nbsp;30,<br>
                    2008</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Net</font> <font style="FONT-SIZE: 10pt">(loss) income</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(16,532</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">1,847</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Amortization of accumulated other comprehensive loss from interest rate swaps previously designated as hedges</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">1,164</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">&mdash;&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Change in fair value of interest rate swaps designated as hedges</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">&mdash;&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(6,782</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Comprehensive loss</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(15,368</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(4,935</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Less:</font> <font style="FONT-SIZE: 10pt">comprehensive</font> <font style="FONT-SIZE: 10pt">income attributable to the noncontrolling interest in UCRP</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">486</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">751</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>
            </tr>

            <tr bgcolor="#cceeff">
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Comprehensive loss attributable to the Partners</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 2pt double; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 2pt double; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(15,854</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 2pt double; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 2pt double; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(5,686</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p style="MARGIN-TOP: 13.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt">7. Related Party Transactions</font></b></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Under the terms of UCDP&rsquo;s partnership agreement, a special fee is payable to Vivendi Universal Entertainment through Universal CPM equal to 5% of certain revenue, as defined, generated by Universal Studios Florida and Universal&rsquo;s Islands of Adventure. During the three months ended March&nbsp;29, 2009 and March 30, 2008, the Company
        paid fees of $8,861,000, and $9,015,000, respectively, to Vivendi Universal Entertainment. In addition, at March&nbsp;29, 2009 and December&nbsp;31, 2008, respectively, the amount due to related parties included $6,810,000 and $8,861,000 related to the current portion of special fees payable to Vivendi Universal Entertainment.</font> <font style="FONT-SIZE: 10pt">At March 29, 2009 and December 31, 2008, the Company had long-term deferred special fees payable to affiliates of Vivendi
        Universal Entertainment of approximately $92,691,000 and $91,967,000, respectively.</font></p>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Subsequent to the Company&rsquo;s refinancings in December 2004, the most restrictive quarterly covenant for payment of the special fee is a debt to EBITDA ratio (as defined in the April 2010 notes) of 5.0 to 1.0 or less related to the current special fees and 3.75 to 1.0 or less related to the deferred special fees (as defined in the senior
        secured credit agreement). As these ratios were met as of March&nbsp;29, 2009, payments of $6,810,000 in special fees will be made during the second quarter of 2009.</font></p>

        <p style="MARGIN-TOP: 13.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt">8. Commitments and Contingencies</font></b></p>

        <p style="MARGIN-TOP: 13.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font size="2"><em>2008 Assessments</em><br>
        &nbsp;<br>
        On December 5, 2008, UCDP filed complaints in state circuit court challenging the 2008 assessments by the Orange County Property Appraiser (the &ldquo;Property Appraiser&rdquo;) of certain real and tangible personal property owned by UCDP. On February 2, 2009, the Property Appraiser answered the complaints and also moved to dismiss the discriminatory assessment counts asserted by UCDP. On February 16, 2009, the Orange County Tax Collector (the &ldquo;Tax Collector&rdquo;) similarly
        answered the complaints and moved to dismiss the discriminatory assessment counts asserted by UCDP. UCDP paid the full assessments with respect to the 2008 real and personal property on November&nbsp;26, 2008. Accordingly, an adverse resolution of these assessments would not create any exposure beyond the amount already paid by UCDP.</font><br>
        </p>

        <p></p>

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        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt"><br>
        <em>2007 Assessments</em><br>
        &nbsp;<br>
        On September&nbsp;18, 2007, UCDP filed petitions to the Orange County Value Adjustment Board (&ldquo;VAB&rdquo;) seeking review and adjustment of the 2007 assessments by the Property Appraiser of certain real and tangible personal property owned by UCDP. The Special Magistrates recommended that UCDP&rsquo;s petitions be denied as to the Universal Studios Florida (&ldquo;USF&rdquo;) and Universal&rsquo;s Islands of Adventure (&ldquo;UIOA&rdquo;) tangible personal property and real
        property and recommended that the assessment as to UCDP&rsquo;s parking garages be reduced. The VAB approved and adopted the Special Magistrates&rsquo; recommendations on February&nbsp;26, 2008. On April&nbsp;24, 2008, UCDP filed complaints challenging these assessments in state circuit court. On June&nbsp;4, 2008, the Tax Collector answered the complaints. On June&nbsp;16, 2008, the Property Appraiser answered the complaints. Both the Property Appraiser and the Tax Collector also moved
        to dismiss UCDP&rsquo;s discriminatory assessment claims. On November 12, 2008, the court consolidated UCDP&rsquo;s complaint involving the 2007 assessments of the parking garages with a similar complaint that UCDP filed involving the 2006 assessments. On February 11, 2009, the court granted the defendants&rsquo; motions to dismiss the discriminatory assessment count in UCDP&rsquo;s complaint involving the parking garages, and it granted UCDP leave to amend that count. On March 16,
        2009, UCDP filed its amended complaint, and both the Property Appraiser and the Tax Collector subsequently answered UCDP&rsquo;s amended complaint. In addition, in late 2008, the Property Appraiser and Tax Collector filed a Joint Motion for Summary Judgment as to Count I of UCDP&rsquo;s complaint involving its tangible personal property. On March 26, 2009, the court denied that Joint Motion. UCDP paid the full assessment with respect to the 2007 real and personal property on
        November&nbsp;30, 2007. Accordingly, an adverse resolution of these assessments would not create any exposure beyond the amount already paid by UCDP.<br>
        &nbsp;<br>
        <em>2006 Assessments</em><br>
        &nbsp;<br>
        In the second quarter of 2007, UCDP received and recorded a refund of approximately $1.0 million (the &ldquo;2006 Refund&rdquo;) with respect to an adjustment of the 2006 assessments by the Property Appraiser reducing the assessed property values of certain real and tangible personal property owned by UCDP.<br>
        &nbsp;<br>
        Meanwhile, on April&nbsp;17, 2007, the Property Appraiser filed a complaint in state circuit court challenging the reduced 2006 tangible personal property assessments. This case is currently set for trial during July 2009. On May&nbsp;16, 2007, UCDP filed two complaints challenging the Property Appraiser&rsquo;s 2006 assessments for (i)&nbsp;real property at USF and UIOA, and for (ii)&nbsp;UCDP&rsquo;s parking garages. The Property Appraiser and the Tax Collector answered UCDP&rsquo;s
        complaints and also moved to dismiss UCDP&rsquo;s discriminatory assessment claims. On November 12, 2008, the court consolidated UCDP&rsquo;s complaint involving the 2006 assessments of the parking garages with a similar complaint that UCDP filed involving the 2007 assessments. On February 11, 2009, the court granted the defendants&rsquo; motions to dismiss the discriminatory assessment count in UCDP&rsquo;s complaint involving the parking garages, and it granted UCDP leave to amend
        that count. On March 16, 2009, UCDP filed its amended complaint, and both the Property Appraiser and the Tax Collector subsequently answered UCDP&rsquo;s amended complaint. The parties are currently engaged in discovery and the Company cannot predict the outcome of these cases. In the event of an adverse determination, UCDP may be required to repay the amount of the 2006 Refund, plus interest and penalties if awarded by the court. It is premature to assess the likelihood of any material
        impact to UCDP&rsquo;s results of operations, financial position or cash flows.<br>
        &nbsp;<br>
        <em>Back Assessments</em><br>
        &nbsp;<br>
        On December&nbsp;21, 2006, the Property Appraiser concluded an audit of UCDP&rsquo;s 2003, 2004 and 2005 tangible personal property returns, asserting that UCDP underreported its tangible personal property in each of those years. The Property Appraiser issued back assessments resulting in back taxes, interest and penalties being charged by the Tax Collector. On February&nbsp;19, 2007, UCDP filed a complaint in state circuit court challenging the legality of the back assessments and
        seeking other relief.&nbsp;On April&nbsp;25, 2007, the Court dismissed the portions of UCDP&rsquo;s complaint pertaining to the back assessments on UIOA, and it also dismissed UCDP&rsquo;s due process claim.&nbsp;On May&nbsp;14, 2007, UCDP re-filed the complaint (&ldquo;UCDP&rsquo;s Re-filed Back Assessment Complaint&rdquo;) as to UIOA. On February&nbsp;15, 2008, the court denied the Property Appraiser&rsquo;s motion to dismiss UCDP&rsquo;s Re-filed Back Assessment Complaint. The
        Property Appraiser and Tax Collector appealed the denial of the dismissal of UCDP&rsquo;s Re-filed Back Assessment Complaint. UCDP opposed the appeal, and on July&nbsp;3, 2008, the Court denied the appeal. Therefore, UCDP&rsquo;s actions challenging the back assessments remain pending and are currently being litigated.<br>
        &nbsp;<br>
        <em>Other</em></font></p>

        <p style="MARGIN-TOP: 13.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">The Company is threatened with or involved in various other legal actions and claims incidental to the conduct of its business. Management does not expect these legal actions and claims to have a material impact to the Company&rsquo;s results of operations, financial position or cash flows.</font><br>
        </p>

        <p></p>

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            <a name="PAGENUM"><font size="2">15</font></a>
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        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt"><em>Consultant Agreement</em></font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Additionally, the Company has an agreement (the &ldquo;Consultant Agreement&rdquo;) with Steven Spielberg (the &ldquo;Consultant&rdquo;) under which it pays a fee for consulting services and exclusivity equal to a percentage of the Company&rsquo;s gross revenues from the attractions and certain other facilities owned or operated, in whole or in
        part, by the Company. Under the terms of the Consultant Agreement, the Consultant is also entitled to a fee based on a percentage of gross revenues of comparable projects, which are gated motion picture and television themed attractions owned or operated, in whole or in part, by the Company, or any of its partners or any of their affiliates, other than in Universal City, California. At present, the only theme park that is a comparable project is Universal Studios Japan in Osaka, Japan.
        It is possible that comparable projects will be created in the future that would fall under the Consultant Agreement. For instance, Vivendi Universal Entertainment has entered into licensing arrangements for Universal theme parks in Singapore and Dubai. The Consultant may also be entitled to participate in certain sales of equity by the Company&rsquo;s Partners and to participate in certain real estate development activities of the Company&rsquo;s partners or their affiliates. Although
        the Consultant Agreement has no expiration date, starting in June&nbsp;2010, the Consultant has the right, upon 90 days notice, to terminate the periodic payments under the Consultant Agreement and receive instead one cash payment equal to the fair market value of the Consultant&rsquo;s interest in the revenue streams in the Orlando parks and any comparable projects that have been open at that time for at least one year, which fair market value could be significant. If the Consultant
        exercises the option and the parties cannot agree on the fair market value of the buyout option, the fair market value will be determined by a binding appraisal procedure. The Company represented under the agreement that the Consultant&rsquo;s interest in each of the Company&rsquo;s parks and in any comparable projects will have priority over the interests of all financiers, lenders and others who may have an interest in that park or project. The Company&rsquo;s obligations under the
        agreement are guaranteed by Universal Studios, Inc., as successor to MCA Inc., and Universal Studios, Inc.&rsquo;s obligations under that guarantee have in turn been assumed by Vivendi Universal Entertainment. Vivendi Universal Entertainment has indemnified the Company against any liability under the Consultant Agreement related to any comparable project that is not owned or controlled by the Company. Under the terms of Holdings&rsquo; May 2010 notes, the April 2010 notes and the senior
        secured credit agreement, a lien to secure the Company&rsquo;s obligations under the Consultant Agreement would be a permitted lien. This event could adversely impact the Company&rsquo;s liquidity.</font></p>

        <p></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt">9. Subsequent Event</font></b></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">In April 2009, the Company paid distributions to the Partners totaling $33,369,000</font> <font style="FONT-SIZE: 10pt">for their expected payments of income taxes based on the Company&rsquo;s financial results. These distributions are required per the UCDP partnership agreement. Additionally, in May 2009, the Company made distributions to
        Holdings of $10,672,000.</font></p>

        <p></p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font size="2">16</font></a>
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        </div>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td valign="top" width="9%">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt"><a name="tx68688_2"></a>Item&nbsp;2.</font></b></p>
                </td>

                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt">Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations</font></b></p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt">Overview Related to Financial Results</font></b></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">For the first quarter of 2009, we experienced a decrease of 19.5% in our paid attendance and a decrease in EBITDA (as defined on page 19) of $20.5</font> <font style="FONT-SIZE: 10pt">million. These decreases were driven by three primary attendance trends. First, the week before and after Easter are peak attendance periods. In 2008, Easter was
        on March 23. In 2009, Easter was on April 12. This shift in Easter moved the peak attendance period from the first quarter of 2008 to the second quarter of 2009. Second,</font> <font style="FONT-SIZE: 10pt">our</font> <font style="FONT-SIZE: 10pt">business continues to be impacted by the downturn in the global economy. Lastly, due to the timing of</font> <font style="FONT-SIZE: 10pt">our</font> <font style="FONT-SIZE: 10pt">fiscal year-end, the first quarter of</font>
        <font style="FONT-SIZE: 10pt">2009</font> <font style="FONT-SIZE: 10pt">had two</font> <font style="FONT-SIZE: 10pt">less</font> <font style="FONT-SIZE: 10pt">days compared to the first quarter of</font> <font style="FONT-SIZE: 10pt">2008. Theme park spending</font> <font style="FONT-SIZE: 10pt">on a per guest basis</font> <font style="FONT-SIZE: 10pt">decreased approximately 3%</font> <font style="FONT-SIZE: 10pt">during the first quarter 2009, which, along with the lower attendance,
        contributed to a $43.5 million shortfall in revenues and an incremental $18.4</font> <font style="FONT-SIZE: 10pt">million net loss compared to 2008. We finished</font> <font style="FONT-SIZE: 10pt">the first quarter of 2009 with $169.5</font> <font style="FONT-SIZE: 10pt">million in cash and cash equivalents, including $100.0 million in unused revolving credit. We also owed $1,008.2 million on our long-term debt at March&nbsp;29, 2009.</font></p>

        <p style="MARGIN-TOP: 13.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt">Seasonality</font></b></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Theme park attendance follows a seasonal pattern which coincides closely with holiday and school schedules. The year begins with the end of the peak Christmas and New Year&rsquo;s holiday period. When children return to school, attendance levels subside. During the March to April timeframe, spring break and Easter vacation periods drive
        seasonally high attendance. Since the peak spring break period fluctuates from year to year between the end of the first quarter and the beginning of the second quarter, historical quarterly financial information might not be comparable. May is a traditionally slow attendance period. June marks the beginning of the summer attendance peak when local schools are out for the summer. This peak attendance period continues throughout the month of June, as schools outside of Florida finish
        their terms. The peak summer period includes the entire month of July and the first few weeks in August, when the local schools begin to go back into session. Attendance levels continue to decline through Labor Day, when schools outside of Florida begin. Excluding special events such as &ldquo;Rock the Universe&rdquo; in September and &ldquo;Halloween Horror Nights&rdquo; in October, the period from September through November is seasonally slow, with an attendance spike around
        Thanksgiving week. Attendance falls again after Thanksgiving weekend, and does not pick up until the third week of December, when the peak Christmas and New Year&rsquo;s holiday period begins. The Atlantic Ocean hurricane season begins in June and ends in November of each year. Historically, hurricanes have had little impact on Orlando theme parks. Since opening in 1991, our parks have been closed only five days due to the inclement weather caused by hurricanes, four of which occurred
        during the 2004 and 2005 hurricane seasons.</font></p>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">The week before and after Easter are peak attendance periods. In 2008, Easter was on March 23. In 2009, Easter was on April 12. This shift in Easter moved the peak attendance period from the first quarter of 2008 to the second quarter of 2009.</font></p>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Based on the seasonality of our attendance, the results for the three month periods ended March&nbsp;29, 2009 and March 30, 2008 are not necessarily indicative of results for the full year.</font></p>

        <p style="MARGIN-TOP: 13.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt">Critical Accounting Policies and Estimates</font></b></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">In the ordinary course of business, we make a number of estimates and assumptions relating to the reporting of results of operations and financial condition in the preparation of our</font> <font style="FONT-SIZE: 10pt">condensed consolidated</font> <font style="FONT-SIZE: 10pt">financial statements in conformity with U.S. generally accepted
        accounting principles. Results could differ significantly from those estimates under different assumptions and conditions. We believe that the application of these accounting policies, which are important to our financial position and results of operations, requires significant judgments and estimates on the part of management. For a summary of all of our accounting policies, including our critical accounting policies, see</font> <i><font style="FONT-SIZE: 10pt">Note 2</font></i>
        <font style="FONT-SIZE: 10pt">in our audited</font> <font style="FONT-SIZE: 10pt">consolidated</font> <font style="FONT-SIZE: 10pt">financial statements for the year ended December&nbsp;31, 2008 filed with the Securities and Exchange Commission under cover of Form 10-K. Besides what is disclosed within this document, there have been no material developments with respect to the critical accounting policies discussed in detail in our Form 10-K within</font>
        <i><font style="FONT-SIZE: 10pt">Item&nbsp;7. Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations</font></i><font style="FONT-SIZE: 10pt">.</font></p>

        <p style="MARGIN-TOP: 13.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><i><font style="FONT-SIZE: 10pt">Litigation</font></i></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">We are currently involved in certain legal proceedings and, as required, have accrued the low end of the estimated range of probable costs for the resolution of these claims. This estimate has been developed in consultation with outside counsel and is based upon an analysis of potential results, assuming a combination of litigation and
        settlement strategies. It is possible, however, that future results of operations for any particular quarterly or annual period could be materially affected by changes in our assumptions or the effectiveness of our strategies related to these proceedings.</font> <font style="FONT-SIZE: 10pt">See</font> <i><font style="FONT-SIZE: 10pt">Note 8</font></i> <font style="FONT-SIZE: 10pt">in</font> <i><font style="FONT-SIZE: 10pt">Part 1, Item&nbsp;1. Financial Statements</font></i>
        <font style="FONT-SIZE: 10pt">in this document for more detailed information on litigation exposure.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><i><font style="FONT-SIZE: 10pt">Period end</font></i></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">The three months ended March&nbsp;29, 2009 and March 30, 2008 contained 88 and 90 days, respectively.</font></p>

        <p style="MARGIN-TOP: 13.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><i><font style="FONT-SIZE: 10pt">Recent accounting pronouncements</font></i></p>

        <p style="MARGIN-TOP: 7.8pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">See &ldquo;</font><i><font style="FONT-SIZE: 10pt">Note 1. General</font></i><font style="FONT-SIZE: 10pt">&rdquo; in &ldquo;</font><i><font style="FONT-SIZE: 10pt">Part I &ndash; Item 1. Financial Statements</font></i><font style="FONT-SIZE: 10pt">&rdquo; for a detailed description of recent accounting pronouncements.</font></p>

        <p></p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font size="2">17</font></a>
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        </div>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt">Results of Operations</font></b></p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
            <tr>
                <td valign="middle" width="71%">&nbsp;</td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="6">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">Three months ended</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">% Change</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 7.5pt">(In Thousands, Except Percentages)</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">March&nbsp;29,<br>
                    2009</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">March&nbsp;30,<br>
                    2008</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">Favorable/<br>
                    (unfavorable)</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><b><font style="FONT-SIZE: 10pt">Operation data:</font></b></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Paid theme park admissions</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">1,841</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">2,286</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(19.5</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)%</font></p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Turnstile theme park admissions</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">2,013</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">2,455</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(18.0</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)%</font></p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Theme park pass revenue per paid admission</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">44.42</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">43.49</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">2.1</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">%</font></p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Theme park food, beverage and merchandise revenue per turnstile admission</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">17.63</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">19.44</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(9.3</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)%</font></p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Other theme park related revenue per turnstile admission</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">8.96</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">10.07</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(11.0</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)%</font></p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><b><font style="FONT-SIZE: 10pt">Statement of operations data:</font></b></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Operating revenues:</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Theme park passes</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">81,777</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">99,417</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(17.7</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)%</font></p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Theme park food and beverage</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">18,696</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">24,407</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(23.4</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)%</font></p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Theme park merchandise</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">16,788</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">23,319</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(28.0</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)%</font></p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Other theme park related</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">18,045</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">24,732</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(27.0</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)%</font></p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Other</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 1px solid; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 1px solid; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">28,483</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 1px solid; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 1px solid; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">35,430</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 1px solid; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(19.6</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)%</font></p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Total operating revenues</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">163,789</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">207,305</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(21.0</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)%</font></p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Costs and operating expenses:</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Theme park operations</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">40,425</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">43,159</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">6.3</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">%</font></p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Theme park selling, general and administrative</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">33,317</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">39,151</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">14.9</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">%</font></p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Theme park cost of products sold</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">19,930</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">26,938</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">26.0</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">%</font></p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Special fee to Vivendi Universal Entertainment and consultant fee</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">10,229</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">13,037</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">21.5</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">%</font></p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Depreciation and amortization</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">26,630</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">29,237</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">8.9</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">%</font></p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Other</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 1px solid; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 1px solid; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">26,445</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 1px solid; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 1px solid; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">31,466</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 1px solid; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">16.0</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">%</font></p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Total costs and operating expenses</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">156,976</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">182,988</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">14.2</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">%</font></p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Operating income</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">6,813</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">24,317</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(72.0</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)%</font></p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Non-operating expenses</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: black 0.5pt solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 0.5pt solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">23,345</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 0.5pt solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 0.5pt solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">22,470</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 0.5pt solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(3.9</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)%</font></p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Net (loss) income</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(16,532</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">1,847</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">NM</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Less: net income attributable to the noncontrolling interest in UCRP</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 0.5pt solid" valign="bottom">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 0.5pt solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">486</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 0.5pt solid" valign="bottom">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 0.5pt solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">751</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 0.5pt solid" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">35.3</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">%</font></p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Net (loss) income</font>&nbsp;<font style="FONT-SIZE: 10pt">attributable to the Partners</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(17,018</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">1,096</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">NM</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 1pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">NM &ndash; not meaningful</font></p>

        <p style="MARGIN-TOP: 13.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><i><font style="FONT-SIZE: 10pt">Three Months Ended March&nbsp;29, 2009 Compared to Three Months Ended March 30, 2008</font></i></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Paid Theme Park Admissions decreased 19% during the first quarter of 2009 compared to the first quarter of 2008. As discussed previously, this was driven by the shift in Easter, the two extra days in the first quarter of 2008 and the downturn in the global economy. In the first quarter,</font> <font style="FONT-SIZE: 10pt">both</font>
        <font style="FONT-SIZE: 10pt">our</font> <font style="FONT-SIZE: 10pt">domestic and international</font> <font style="FONT-SIZE: 10pt">markets experienced attendance declines</font> <font style="FONT-SIZE: 10pt">in the high teens. Accordingly, our total Operating Revenues decreased $43.5 million, or 21%, driven by the attendance shortfall and declines in per capita spending of 3%.</font> <font style="FONT-SIZE: 10pt">Theme Park Pass Revenue Per Paid Admission increased 2% as a result of
        selective price changes to maximize yield.</font> <font style="FONT-SIZE: 10pt">Per turnstile admission spending on food and beverage and merchandise decreased 9%. Per turnstile admission spending on Other Theme Park Related items decreased 11%, principally due to a decrease in corporate special events of $4.0 million and $1.5 million in reduced guest spending on our Universal Express Plus product, which typically decreases in periods of lower attendance. As compared to the first
        quarter of 2008, our Other Revenue category was unfavorable by $6.9 million, or 20%, due to lower revenue from our CityWalk operations and travel company of $3.3 million and $2.9 million, respectively.</font></p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font size="2">18</font></a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" noshade>
        </div>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Theme Park Operations were favorable by $2.7 million largely due to decreased maintenance, entertainment and operational costs resulting from our reduced attendance levels and management&rsquo;s cost saving initiatives. This favorability was achieved notwithstanding the incremental operating costs incurred in 2009 from The Simpsons
        Ride</font><sup><font style="FONT-SIZE: 10pt">TM</font></sup><font style="FONT-SIZE: 10pt">, which opened in May 2008.</font> <font style="FONT-SIZE: 10pt">Theme Park Selling, General and Administrative costs were favorable $5.8 million due to reductions in marketing spend, travel and non-essential training.</font> <font style="FONT-SIZE: 10pt">Cost of goods sold decreased 26%, and expenses related to our special fee and consultant fee decreased 22%, both of which correlate to the
        decrease in Operating Revenues. Other Costs and Operating Expenses were favorable by $5.0 million due to reduced operating costs at our travel company and CityWalk operations of $2.4 million and $1.7 million, respectively. These reduced operating costs correlate to the lower revenues from each of these areas as discussed previously. Non-operating Expenses were slightly</font> <font style="FONT-SIZE: 10pt">unfavorable</font> <font style="FONT-SIZE: 10pt">due to lower income from our
        unconsolidated joint ventures and reduced interest income resulting from lower interest rates. These</font> <font style="FONT-SIZE: 10pt">items were partially offset by</font> <font style="FONT-SIZE: 10pt">changes in the fair value of our interest rate swaps and lower interest expense.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><i><font style="FONT-SIZE: 10pt">EBITDA</font></i></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Earnings before interest expense, income taxes, depreciation and amortization or, EBITDA, is defined as net income excluding: (i)&nbsp;interest expense, net of interest income; and (ii)&nbsp;depreciation and amortization. Our management assesses operational performance using EBITDA (as defined) because it is used by some investors as a measure
        of our ability to service debt. In addition, it is the primary basis in the UCDP senior secured credit agreement to determine our quarterly compliance with our funded debt ratio and the interest coverage ratio, which is computed based on the trailing four quarters. We believe the UCDP senior secured credit agreement is a material agreement as it represents a critical component of our capital structure and an important source of our liquidity. Our failure to comply with the financial
        maintenance covenants in the UCDP senior secured credit agreement would result in an event of default occurring under the agreement which would give our lenders the right to accelerate all of the indebtedness then outstanding under that agreement. EBITDA (as defined) represents earnings before interest, taxes and depreciation and amortization and certain other adjustments permitted by the definition of EBITDA in the senior secured credit agreement. EBITDA (as defined) is not prepared in
        accordance with United States generally accepted accounting principles and should not be considered as an alternative for net income, net cash provided by operating activities and other</font> <font style="FONT-SIZE: 10pt">consolidated</font> <font style="FONT-SIZE: 10pt">income or cash flow statement data prepared in accordance with United States generally accepted accounting principles or as a measure of profitability or liquidity. EBITDA (as defined), because it is before debt
        service, capital expenditures, and working capital needs, does not represent cash that is available for other purposes at our discretion. Our presentation of EBITDA (as defined) may not be comparable to similarly titled measures reported by other companies. The following is a reconciliation of net cash provided by operating activities to EBITDA (in thousands):</font></p>

        <table cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
            <tr>
                <td valign="middle" width="86%">&nbsp;</td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="6">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">Three Months Ended</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">March&nbsp;29,<br>
                    2009</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">March&nbsp;30,<br>
                    2008</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Cash and cash equivalents provided by operating activities</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">25,793</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">43,470</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Adjustments:</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Interest expense</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">25,241</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">24,947</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Interest income</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(44</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(992</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Amortization of deferred finance costs</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(2,389</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(1,291</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Changes in deferred special fee payable and related interest payable to affiliates</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(724</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">)</p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(1,252</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Distributions from investments in unconsolidated entities</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">&mdash;&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(635</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Income from investments in unconsolidated entities</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">799</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">1,485</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Accretion of bond discount</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(207</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(208</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Interest on financing obligations</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(624</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(583</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Income attributable to the noncontrolling interest in UCRP</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(486</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(751</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Change in working capital</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 1px solid; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 1px solid; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(13,603</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 1px solid; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 1px solid; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(9,902</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">EBITDA</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">33,756</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">54,288</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 1pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font size="2">19</font></a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" noshade>
        </div>

        <p style="MARGIN-TOP: 13.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">The following is a reconciliation of net</font> <font style="FONT-SIZE: 10pt">(loss)/income</font> <font style="FONT-SIZE: 10pt">attributable to the Partners to EBITDA (in thousands):</font></p>

        <table cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
            <tr>
                <td valign="middle" width="86%">&nbsp;</td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="6">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">Three Months Ended</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">March&nbsp;29,<br>
                    2009</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">March&nbsp;30,<br>
                    2008</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Net</font> <font style="FONT-SIZE: 10pt">(loss) income</font> <font style="FONT-SIZE: 10pt">attributable to the Partners</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(17,018</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">1,096</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">&nbsp;</td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Adjustments:</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>
            </tr>

            <tr>
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Interest expense</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">25,241</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">24,947</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Change in fair value of interest rate swaps and amortization of accumulated other comprehensive loss</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(1,053</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">&mdash;&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Depreciation and amortization</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">26,630</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">29,237</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Interest income</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 1px solid; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 1px solid; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(44</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 1px solid; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BORDER-BOTTOM: black 1px solid; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">(992</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">EBITDA</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">33,756</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">54,288</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr bgcolor="#cceeff">
                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 1pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: #000000 3pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt">Liquidity and Capital Resources</font></b></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><i><font style="FONT-SIZE: 10pt">Cash flows</font></i></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">The following table summarizes key aspects of our cash flows (in thousands):</font></p>

        <table cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
            <tr>
                <td valign="middle" width="86%">&nbsp;</td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="5">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">Three months ended</font></b></p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">March&nbsp;29,<br>
                    2009</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">March&nbsp;30,<br>
                    2008</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND: #cceeff" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Net cash and cash equivalents provided by operating activities</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">25,793</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">43,470</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Net cash and cash equivalents used in investing activities</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">37,519</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">31,106</font></p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND: #cceeff" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Capital expenditures</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">37,519</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">31,106</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Net cash and cash equivalents used in financing activities</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">6,567</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">19,711</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">During the three months ended March&nbsp;29, 2009 and March 30, 2008, net cash provided by operating activities was $25.8</font> <font style="FONT-SIZE: 10pt">million and $43.5</font> <font style="FONT-SIZE: 10pt">million,</font> <font style="FONT-SIZE: 10pt">respectively. This decrease in cash flow from operations of $17.7</font>
        <font style="FONT-SIZE: 10pt">million was largely due to the increase in our net loss of $18.4</font> <font style="FONT-SIZE: 10pt">million as discussed previously.</font></p>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Net cash used in investing activities for the three months ended March&nbsp;29, 2009 and March 30, 2008, totaled $37.5 million and $31.1 million, respectively. For both years, the amount consisted of capital expenditures. We make annual investments both to provide ongoing capital support for our existing park attractions and infrastructure, and
        also to fund the development of new park attractions and infrastructure. We believe these investments are critical in maintaining our position of having technologically advanced theme parks and to effectively compete with our competitors. These costs can vary from one year to the next, depending on the timing of the construction cycles.</font></p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font size="2">20</font></a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" noshade>
        </div>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">We estimate our capital expenditures, including intellectual property rights, to be approximately $110.0 million during 2009. Our capital expenditures in excess of the amount permitted by the capital covenant in our senior secured credit agreement will be funded through partner equity contributions made in 2008. A large portion of this cost
        relates to the design and construction of the upcoming Hollywood Rip Ride Rockit</font><sup><font style="FONT-SIZE: 10pt">SM</font></sup> <font style="FONT-SIZE: 10pt">coaster and Wizarding World of Harry Potter</font><sup><font style="FONT-SIZE: 10pt">SM</font></sup> <font style="FONT-SIZE: 10pt">themed area which we anticipate opening in early summer 2009 and no later than the summer of 2010, respectively. We estimate our total anticipated capital investment in The Simpsons
        Ride</font><sup><font style="FONT-SIZE: 10pt">TM</font></sup><font style="FONT-SIZE: 10pt">, which opened in May 2008, and these two unfinished attractions will range from $275.0 million to $310.0 million. This includes all capital expenditures to build these attractions except capitalized interest. This also takes into account the net present value of all license fee payments made during the initial terms of the applicable licenses, while excluding license payments made during renewal
        periods or merchandise royalties.</font></p>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">During the three months ended March&nbsp;29, 2009</font> <font style="FONT-SIZE: 10pt">and March 28, 2008, net cash used for financing activities was</font> <font style="FONT-SIZE: 10pt">$6.6 million and $19.7 million, respectively. The amounts were</font> <font style="FONT-SIZE: 10pt">almost entirely related to distributions made to</font>
        <font style="FONT-SIZE: 10pt">Holdings.</font></p>

        <p style="MARGIN-TOP: 13.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><i><font style="FONT-SIZE: 10pt">Financial position</font></i></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">The following table summarizes key aspects in our financial position and liquidity (in thousands):</font></p>

        <table cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
            <tr>
                <td valign="middle" width="82%">&nbsp;</td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="5">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">As of</font></b></p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">March&nbsp;29,<br>
                    2009</font></b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">December&nbsp;31,<br>
                    2008</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND: #cceeff" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Cash and cash equivalents</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff; BORDER-BOTTOM: black 2.25pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff; BORDER-BOTTOM: black 2.25pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">69,505</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff; BORDER-BOTTOM: black 2.25pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff; BORDER-BOTTOM: black 2.25pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">87,798</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Unused portion of revolving credit facilities</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: black 2.25pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 2.25pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">100,000</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: black 2.25pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 2.25pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">100,000</font></p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND: #cceeff" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Current portion of long-term borrowings, capital lease and financing obligations</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff; BORDER-BOTTOM: black 2.25pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff; BORDER-BOTTOM: black 2.25pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">5,810</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff; BORDER-BOTTOM: black 2.25pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff; BORDER-BOTTOM: black 2.25pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">5,822</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Current portion of special fees</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: black 2.25pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 2.25pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">6,810</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BORDER-BOTTOM: black 2.25pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: black 2.25pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">8,861</font></p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND: #cceeff" valign="top">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Total long-term obligations (1)</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff; BORDER-BOTTOM: black 2.25pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff; BORDER-BOTTOM: black 2.25pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">1,129,387</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff; BORDER-BOTTOM: black 2.25pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BACKGROUND: #cceeff; BORDER-BOTTOM: black 2.25pt double" valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">1,127,856</font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td valign="top" width="4%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp;&nbsp; (1)</font></p>
                </td>

                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Long-term obligations include long-term borrowings (excluding current portions), long-term capital lease and financing obligations, and long-term deferred special fees.</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p></p>

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        </div>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">At March&nbsp;29, 2009, our total debt was $1,008.2 million, which included $499.2 million outstanding under the bonds due in April 2010 ($500.0 million, net of a remaining discount of $0.8 million) and $509.0 million outstanding under UCDP&rsquo;s senior secured credit facility. At March&nbsp;29, 2009, we also had $169.5</font>
        <font style="FONT-SIZE: 10pt">million in cash and cash equivalents and unused revolving credit, consisting of $69.5</font> <font style="FONT-SIZE: 10pt">million in cash and cash equivalents and $100.0 million available under our revolving credit facilities. Our senior secured credit agreement and bonds contain certain customary limitations. We believe we were in compliance with all financial covenants as of March&nbsp;29, 2009.</font> <font style="FONT-SIZE: 10pt">The April 2010
        notes</font> <font style="FONT-SIZE: 10pt">are due in 2010, while our senior secured credit agreement calls for quarterly principal installments of 0.25% with the remainder due on June&nbsp;6, 2011. During 2006, we made a voluntary prepayment in the amount of $30.0 million, effectively prepaying all of the principal amounts that would have been due up until the facilities maturity date. As a result of the amendment in July 2008, the senior secured credit facility is repayable in full on
        April 1, 2010, if the April 2010 notes and</font> <font style="FONT-SIZE: 10pt">Holdings&rsquo;</font> <font style="FONT-SIZE: 10pt">May 2010 notes are not refinanced or repaid in full prior to such date. It is highly unlikely that we will be able to generate enough cash to pay these balances in full prior to the specified due dates which would then necessitate refinancing our long-term debt. Furthermore, our access to capital markets and our ability to issue various securities to raise
        capital could be affected by further reductions in our bond ratings, which were downgraded in the first quarter of 2009.</font> <font style="FONT-SIZE: 10pt">Specifically, the downgrades in our bond rating could result in increased interest rates or other incremental borrowing costs when we attempt to refinance our long-term debt.<br>
        &nbsp;<br>
        Additionally, we have an agreement (the &ldquo;Consultant Agreement&rdquo;) with Steven Spielberg (the &ldquo;Consultant&rdquo;) under which we pay a fee for consulting services and exclusivity equal to a percentage of our gross revenues from the attractions and certain other facilities owned or operated, in whole or in part, by us. Under the terms of the Consultant Agreement, the Consultant is also entitled to a fee based on a percentage of gross revenues of comparable projects, which
        are gated motion picture and television themed attractions owned or operated, in whole or in part, by us, or any of our partners or any of their affiliates, other than in Universal City, California. At present, the only theme park that is a comparable project is Universal Studios Japan in Osaka, Japan. It is possible that comparable projects will be created in the future that would fall under the Consultant Agreement. For instance, Vivendi Universal Entertainment has entered into
        licensing arrangements for Universal theme parks in Singapore and Dubai. The Consultant may also be entitled to participate in certain sales of equity by our partners and to participate in certain real estate development activities of our partners or their affiliates. Although the Consultant Agreement has no expiration date, starting in June&nbsp;2010, the Consultant has the right, upon 90 days notice, to terminate the periodic payments under the Consultant Agreement and receive instead
        one cash payment equal to the fair market value of the Consultant&rsquo;s interest in the revenue streams in the Orlando parks and any comparable projects that have been open at that time for at least one year, which fair market value could be significant. If the Consultant exercises the option and the parties cannot agree on the fair market value of the buyout option, the fair market value will be determined by a binding appraisal procedure. We represented under the agreement that the
        Consultant&rsquo;s interest in each of our parks and in any comparable projects will have priority over the interests of all financiers, lenders and others who may have an interest in that park or project. Our obligations under the agreement are guaranteed by Universal Studios, Inc., as successor to MCA Inc., and Universal Studios, Inc.&rsquo;s obligations under that guarantee have in turn been assumed by Vivendi Universal Entertainment. Vivendi Universal Entertainment has indemnified
        us against any liability under the Consultant Agreement related to any comparable project that is not owned or controlled by us. Under the terms of the May 2010 notes, the April 2010 notes and the senior secured credit agreement, a lien to secure our obligations under the Consultant Agreement would be a permitted lien. This event could adversely impact our liquidity.</font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">We believe that funds generated from UCDP&rsquo;s operations and our available borrowing capacity will be adequate to fund our debt service requirements, capital expenditures and working capital requirements up to, but not including, April 1, 2010, which is the early maturity date on our senior secured credit facility. Although we believe that
        our current financial position and financing options will provide flexibility in financing activities and permit us to respond to changing conditions, we cannot assure you that our business will generate sufficient cash flow from operations or that future borrowings will be available to us under UCDP&rsquo;s revolving credit facility in an amount sufficient to enable us to pay our indebtedness or to fund our other liquidity needs. Our ability to continue to fund these items and continue
        to reduce debt could be adversely affected by the occurrence of unfavorable events. For more information, see</font> <i><font style="FONT-SIZE: 10pt">Item 1A. Risk Facotrs &ndash; Risks Related to Our Indebtedness</font></i> <font style="FONT-SIZE: 10pt">in our Annual Report on Form 10-K for the fiscal year ended December 31, 2008.</font></p>

        <p style="MARGIN-TOP: 13.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><i><font style="FONT-SIZE: 10pt">Special fees</font></i></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Under UCDP&rsquo;s partnership agreement, a &ldquo;special fee&rdquo; is payable to Vivendi Universal Entertainment through Universal CPM. The special fee is calculated at 5% of certain gross operating revenues, as defined in the UCDP partnership agreement, generated from each of Universal Studios Florida and Universal&rsquo;s Islands of
        Adventure. Subsequent to our refinancings in December 2004, the most restrictive quarterly covenant for payment of the special fee is a debt to EBITDA ratio (as defined in the April 2010 notes) of 5.0 to 1.0 or less related to the current special fees and 3.75 to 1.0 or less related to the deferred special fees (as defined in the senior secured credit agreement). These ratios were met as of December&nbsp;31, 2008. Accordingly, during the three months ended March&nbsp;29, 2009, we paid
        fees of $8.9 million, to Vivendi Universal Entertainment. As these ratios were also met as of March&nbsp;29, 2009, a payment of</font> <font style="FONT-SIZE: 10pt">$6.8</font> <font style="FONT-SIZE: 10pt">million in special fees will be made during the second quarter of 2009. At March&nbsp;29, 2009 and December&nbsp;31, 2008, respectively, our</font> <font style="FONT-SIZE: 10pt">consolidated</font> <font style="FONT-SIZE: 10pt">balance sheet included</font>
        <font style="FONT-SIZE: 10pt">$6.8</font> <font style="FONT-SIZE: 10pt">million and $8.9 million classified as current liabilities related to the current portion of the special fees payable to Vivendi Universal Entertainment.</font> <font style="FONT-SIZE: 10pt">Additionally, at March&nbsp;29, 2009 and December&nbsp;31, 2008, our consolidated balance sheet included</font> <font style="FONT-SIZE: 10pt">$92.7 million and $92.0 million, respectively, in long-term deferred special fees
        payable to affiliates of Vivendi Universal Entertainment.</font></p>

        <p style="MARGIN-TOP: 13.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt">CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS</font></b></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Certain statements appearing in this report are &ldquo;forward-looking statements.&rdquo; Forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, business trends and other
        information that is not historical information. When used in this report, the words &ldquo;estimates,&rdquo; &ldquo;expects,&rdquo; &ldquo;anticipates,&rdquo; &ldquo;projects,&rdquo; &ldquo;plans,&rdquo; &ldquo;intends,&rdquo; &ldquo;believes,&rdquo; &ldquo;forecasts&rdquo; or future conditional verbs, such as &ldquo;will,&rdquo; &ldquo;should,&rdquo; &ldquo;could,&rdquo; or &ldquo;may&rdquo; and variations of such words or similar expressions, are intended to identify forward-looking
        statements. All forward looking statements, including, without limitation, management&rsquo;s examination of historical operating trends and data, are based upon our current expectations and various assumptions. Our expectations, beliefs and projections are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that management&rsquo;s expectations, beliefs and projections will be achieved. Because these forward-looking statements
        are subject to numerous risks and uncertainties, our actual results may differ materially from those expressed in or implied by such forward-looking statements. Some of the risks and uncertainties that may cause such differences include, but are not limited to, risks and uncertainties relating to general economic downturn; the dependence of our business on air travel; the risks inherent in deriving substantially all of our revenues from one location; our dependence on Vivendi Universal
        Entertainment and its affiliates; risks related to unfavorable outcomes of our legal proceedings; the loss of key distribution channels for pass sales; competition within the Orlando theme park market; publicity associated with accidents occurring at theme parks; the loss of material intellectual property rights used in our business; the seasonality of our business; the substantial indebtedness of us and our subsidiaries; and the difficulty we may face in refinancing our indebtedness
        due to the turmoil and lack of liquidity in the credit markets and the Consultant's right to exercise his put option starting in June 2010. There may also be other factors that may cause our actual results to differ materially from those expressed in or implied by any forward-looking statements contained in this report. All forward looking statements attributable to us or persons acting on our behalf apply only as of the date of this report and are expressly qualified in their entirety
        by the cautionary statements included in this report. We undertake no obligation to update or revise forward looking statements which may be made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events, except as required by law.</font></p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font size="2">22</font></a>
        </div>

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        </div>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td valign="top" width="9%">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt"><a name="tx68688_3"></a>Item&nbsp;3.</font></b></p>
                </td>

                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt">Quantitative and Qualitative Disclosures About Market Risk</font></b></p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">The following is a schedule of our fixed and variable rate debt maturities and principal payments for each of the next five years, and thereafter (in thousands, except for percentages):</font></p>

        <table cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
            <tr>
                <td valign="bottom" width="0%">&nbsp;</td>

                <td valign="middle" width="11%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="middle" width="11%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="middle" width="11%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="middle" width="11%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="middle" width="11%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="middle" width="11%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="middle" width="11%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>
            </tr>

            <tr>
                <td valign="bottom" width="0%">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="11%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 12px" align="center"><b><font style="FONT-SIZE: 7.5pt">2009</font></b></p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="11%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 12px" align="center"><b><font style="FONT-SIZE: 7.5pt">2010</font></b></p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="11%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">2011</font></b></p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="11%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">2012</font></b></p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="11%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 12px" align="center"><b><font style="FONT-SIZE: 7.5pt">2013</font></b></p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="11%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">Total</font></b></p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="11%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 7.5pt">Fair value</font></b></p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>
            </tr>

            <tr>
                <td valign="bottom" width="0%">
                    &nbsp;

                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><b><font style="FONT-SIZE: 10pt">Debt (1):</font></b></p>
                </td>

                <td valign="bottom" width="11%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="bottom" width="11%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="bottom" width="11%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="bottom" width="11%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="bottom" width="11%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="bottom" width="11%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="bottom" width="11%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>
            </tr>

            <tr>
                <td style="BACKGROUND: #cceeff" valign="bottom" width="0%">
                    &nbsp;

                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Fixed rate debt</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">&mdash;&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500,000</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">&mdash;&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">&mdash;&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">&mdash;&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">500,000</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">420,000</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">&nbsp;</td>
            </tr>

            <tr>
                <td valign="bottom" width="0%">
                    &nbsp;

                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Average interest rate</font></p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">11.75</font></p>
                </td>

                <td valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">%</font></p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>
            </tr>

            <tr>
                <td style="BACKGROUND: #cceeff" valign="bottom" width="0%">
                    &nbsp;

                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Variable rate debt</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">&mdash;&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&mdash;&nbsp;&nbsp;</font></font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;509,000</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">&mdash;&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">&mdash;&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">509,000</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">460,650</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">&nbsp;</td>
            </tr>

            <tr>
                <td valign="bottom" width="0%">
                    &nbsp;

                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Average interest rate</font></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="2%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="2%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="2%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">7.04</font></p>
                </td>

                <td valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">%</font></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="2%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="2%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="2%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="2%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td valign="bottom" width="2%">&nbsp;</td>
            </tr>

            <tr>
                <td style="BACKGROUND: #cceeff" valign="bottom" width="0%">
                    &nbsp;

                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px" align="left"><font style="FONT-SIZE: 10pt">Total gross debt</font></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #cceeff; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 3pt double" valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #cceeff; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 3pt double" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">&mdash;&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #cceeff; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 3pt double" valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #cceeff; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 3pt double" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500,000</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #cceeff; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 3pt double" valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #cceeff; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 3pt double" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;509,000</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #cceeff; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 3pt double" valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #cceeff; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 3pt double" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">&mdash;&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #cceeff; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 3pt double" valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #cceeff; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 3pt double" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">&mdash;&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #cceeff; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 3pt double" valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #cceeff; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 3pt double" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">1,009,000</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #cceeff; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 3pt double" valign="bottom" width="2%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #cceeff; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 3pt double" valign="bottom" width="8%">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">880,650</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="2%">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="96%" colspan="22">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt"><font size="2">(1)</font>&nbsp; <font size="2">Amounts exclude discounts and therefore represent gross maturities. The maturity date of the senior secured credit facility in the amount of $509.0 million is June&nbsp;9, 2011, however, it is repayable in full at April&nbsp;1, 2010, if the April 2010 and</font></font>
                    <font style="FONT-SIZE: 10pt">Holdings&rsquo;</font> <font style="FONT-SIZE: 10pt">May 2010 notes are not refinanced or repaid in full prior to such date.</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p></p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font size="2">23</font></a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" noshade>
        </div>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">The following table is a schedule of our interest rate swap agreements including notional amounts, weighted average interest rates by expected maturity dates and fair value (in thousands):</font></p>

        <p></p>

        <p></p>

        <p></p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
            <tr>
                <td valign="bottom">
                    <p style="FONT-SIZE: 12pt" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="16">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2">
                    <p style="FONT-SIZE: 12pt" align="center"><b><font style="FONT-SIZE: 7.5pt">2009</font></b></p>
                </td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2">
                    <p style="FONT-SIZE: 12pt" align="center"><b><font style="FONT-SIZE: 7.5pt">2010</font></b></p>
                </td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2">
                    <p style="FONT-SIZE: 12pt" align="center"><b><font style="FONT-SIZE: 7.5pt">2011</font></b></p>
                </td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2">
                    <p style="FONT-SIZE: 12pt" align="center"><b><font style="FONT-SIZE: 7.5pt">2012</font></b></p>
                </td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2">
                    <p style="FONT-SIZE: 12pt" align="center"><b><font style="FONT-SIZE: 7.5pt">2013</font></b></p>
                </td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2">
                    <p style="FONT-SIZE: 12pt" align="center"><b><font style="FONT-SIZE: 7.5pt">Total</font></b></p>
                </td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2">
                    <p style="FONT-SIZE: 12pt" align="center"><b><font style="FONT-SIZE: 7.5pt">Fair value</font></b></p>
                </td>

                <td valign="bottom" width="17">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="FONT-SIZE: 12pt" align="left"><b><font style="FONT-SIZE: 10pt">Interest Rate Swaps:</font></b></p>
                </td>

                <td valign="bottom" width="16">&nbsp;</td>

                <td valign="bottom" width="17">
                    <p style="FONT-SIZE: 12pt" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right">&nbsp;</p>
                </td>

                <td valign="bottom" width="17">
                    <p style="FONT-SIZE: 12pt" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="17">
                    <p style="FONT-SIZE: 12pt" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right">&nbsp;</p>
                </td>

                <td valign="bottom" width="17">
                    <p style="FONT-SIZE: 12pt" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="17">
                    <p style="FONT-SIZE: 12pt" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right">&nbsp;</p>
                </td>

                <td valign="bottom" width="17">
                    <p style="FONT-SIZE: 12pt" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="17">
                    <p style="FONT-SIZE: 12pt" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right">&nbsp;</p>
                </td>

                <td valign="bottom" width="17">
                    <p style="FONT-SIZE: 12pt" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="17">
                    <p style="FONT-SIZE: 12pt" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right">&nbsp;</p>
                </td>

                <td valign="bottom" width="17">
                    <p style="FONT-SIZE: 12pt" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="17">
                    <p style="FONT-SIZE: 12pt" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right">&nbsp;</p>
                </td>

                <td valign="bottom" width="17">
                    <p style="FONT-SIZE: 12pt" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="17">
                    <p style="FONT-SIZE: 12pt" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right">&nbsp;</p>
                </td>

                <td valign="bottom" width="17">
                    <p style="FONT-SIZE: 12pt" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BACKGROUND: #cceeff" valign="top">
                    <p style="FONT-SIZE: 12pt" align="left"><font style="FONT-SIZE: 10pt">Variable to Fixed</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="16">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">
                    <p style="FONT-SIZE: 12pt" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325,000</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">
                    <p style="FONT-SIZE: 12pt" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">&mdash;&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">
                    <p style="FONT-SIZE: 12pt" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">&mdash;&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">
                    <p style="FONT-SIZE: 12pt" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">&mdash;&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">
                    <p style="FONT-SIZE: 12pt" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">&mdash;&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">
                    <p style="FONT-SIZE: 12pt" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">325,000</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">
                    <p style="FONT-SIZE: 12pt" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">(6,959</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">
                    <p style="FONT-SIZE: 12pt" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="FONT-SIZE: 12pt" align="left"><font style="FONT-SIZE: 10pt">Average pay rate</font></p>
                </td>

                <td valign="bottom" width="16">&nbsp;</td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">4.63</font></p>
                </td>

                <td valign="bottom" width="17">
                    <p style="FONT-SIZE: 12pt" align="left"><font style="FONT-SIZE: 10pt">%</font></p>
                </td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td valign="bottom" width="17">&nbsp;</td>
            </tr>

            <tr>
                <td style="BACKGROUND: #cceeff" valign="top">
                    <p style="FONT-SIZE: 12pt" align="left"><font style="FONT-SIZE: 10pt">Average receive rate</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="16">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">1.74</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">
                    <p style="FONT-SIZE: 12pt" align="left"><font style="FONT-SIZE: 10pt">%</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="FONT-SIZE: 12pt" align="left"><font style="FONT-SIZE: 10pt">Fixed to Variable</font></p>
                </td>

                <td valign="bottom" width="16">&nbsp;</td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td valign="bottom" width="17">&nbsp;</td>
            </tr>

            <tr>
                <td style="BACKGROUND: #cceeff" valign="top">
                    <p style="FONT-SIZE: 12pt" align="left"><font style="FONT-SIZE: 10pt">Average pay rate</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="16">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="FONT-SIZE: 12pt" align="left"><font style="FONT-SIZE: 10pt">Average receive rate</font></p>
                </td>

                <td valign="bottom" width="16">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="17">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="17">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="17">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="17">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="17">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="17">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td valign="bottom" width="17">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="17">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">n/a</font></p>
                </td>

                <td valign="bottom" width="17">&nbsp;</td>
            </tr>

            <tr>
                <td style="BACKGROUND: #cceeff" valign="top">
                    <p style="FONT-SIZE: 12pt" align="left"><font style="FONT-SIZE: 10pt">Total notional amounts</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="16">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #cceeff; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 3pt double" valign="bottom" width="17">
                    <p style="FONT-SIZE: 12pt" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #cceeff; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 3pt double" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325,000</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #cceeff; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 3pt double" valign="bottom" width="17">
                    <p style="FONT-SIZE: 12pt" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #cceeff; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 3pt double" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">&mdash;&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #cceeff; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 3pt double" valign="bottom" width="17">
                    <p style="FONT-SIZE: 12pt" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #cceeff; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 3pt double" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">&mdash;&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #cceeff; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 3pt double" valign="bottom" width="17">
                    <p style="FONT-SIZE: 12pt" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #cceeff; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 3pt double" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">&mdash;&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #cceeff; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 3pt double" valign="bottom" width="17">
                    <p style="FONT-SIZE: 12pt" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #cceeff; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 3pt double" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">&mdash;&nbsp;&nbsp;</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #cceeff; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 3pt double" valign="bottom" width="17">
                    <p style="FONT-SIZE: 12pt" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #cceeff; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 3pt double" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">&nbsp;325,000</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="bottom" width="17">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #cceeff; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 3pt double" valign="bottom" width="17">
                    <p style="FONT-SIZE: 12pt" align="left"><font style="FONT-SIZE: 10pt">$</font></p>
                </td>

                <td style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BACKGROUND: #cceeff; BORDER-LEFT: medium none; BORDER-BOTTOM: #000000 3pt double" valign="bottom" width="68">
                    <p style="FONT-SIZE: 12pt" align="right"><font style="FONT-SIZE: 10pt">(6,959</font></p>
                </td>

                <td style="BACKGROUND: #cceeff" valign="top" width="17">
                    <p style="FONT-SIZE: 12pt" align="left"><font style="FONT-SIZE: 10pt">)</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>
        <br>

        <p></p>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">We are exposed to market risks relating to fluctuations in interest rates. We may mitigate this risk by paying down additional outstanding balances on our variable rate loans, refinancing with fixed rate permanent debt or obtaining cash flow hedge instruments. As a result, we have $184.0&nbsp;million of unhedged variable rate debt as of March 29,
        2009. Based on these variable-rate obligations, each 1% increase or decrease in the level of interest rates would, respectively, increase or decrease our annual interest expense and related cash payments by approximately $1.8&nbsp;million.</font></p>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">The sensitivity analysis described above, contains certain simplifying assumptions, (for example, it assumes a constant level of variable-rate debt for all maturities and an immediate, across-the-board increase or decrease in the level of interest rates with no other subsequent changes for the remainder of the period). Therefore, although it
        gives an indication of our exposure to changes in interest rates, it is not intended to predict future results and our actual results will likely vary.</font></p>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">We are exposed to credit loss in the event of nonperformance by the other party to the derivative financial instruments. We limit this exposure by entering into agreements directly with a number of major financial institutions that meet our credit standards and that are expected to satisfy their obligations under the contracts.</font></p>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">For more information about our interest rate swaps see <em>Note 6</em> to the</font> <font style="FONT-SIZE: 10pt">consolidated</font> <font style="FONT-SIZE: 10pt">financial statements of our annual report on Form&nbsp;10-K for the fiscal year ended December&nbsp;31, 2008.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font size="2">24</font></a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" noshade>
        </div>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td valign="top" width="9%">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt"><a name="tx68688_4"></a>Item&nbsp;4.</font></b></p>
                </td>

                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt">Controls and Procedures</font></b></p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><i><font style="FONT-SIZE: 10pt">Universal City</font></i> <i><font style="FONT-SIZE: 10pt">Development Partners, Ltd.</font></i></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">The management of Universal City</font> <font style="FONT-SIZE: 10pt">Development Partners Ltd.</font> <font style="FONT-SIZE: 10pt">( &ldquo;UCDP&rdquo;) carried out an evaluation, with the participation of</font> <font style="FONT-SIZE: 10pt">UCDP&rsquo;s</font> <font style="FONT-SIZE: 10pt">Principal Executive Officer and Principal Financial
        Officer, of the effectiveness of</font> <font style="FONT-SIZE: 10pt">UCDP&rsquo;s</font> <font style="FONT-SIZE: 10pt">disclosure controls and procedures as of the end of the period covered by this report. Based upon that evaluation,</font> <font style="FONT-SIZE: 10pt">UCDP&rsquo;s</font> <font style="FONT-SIZE: 10pt">Principal Executive Officer and Principal Financial Officer concluded that</font> <font style="FONT-SIZE: 10pt">UCDP&rsquo;s</font>
        <font style="FONT-SIZE: 10pt">disclosure controls and procedures were effective to ensure that information required to be disclosed by</font> <font style="FONT-SIZE: 10pt">UCDP</font> <font style="FONT-SIZE: 10pt">in the reports that it files or submits under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the rules, regulations and forms promulgated by the Securities and Exchange Commission.</font></p>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">There was no change in</font> <font style="FONT-SIZE: 10pt">UCDP&rsquo;s</font> <font style="FONT-SIZE: 10pt">internal control over financial reporting during the quarter ended March&nbsp;29, 2009 that has materially affected, or is reasonably likely to materially affect,</font> <font style="FONT-SIZE: 10pt">UCDP&rsquo;s</font>
        <font style="FONT-SIZE: 10pt">internal control over financial reporting.</font></p>

        <p style="MARGIN-TOP: 13.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><i><font style="FONT-SIZE: 10pt">UCDP</font></i> <i><font style="FONT-SIZE: 10pt">Finance, Inc.</font></i></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">The management of</font> <font style="FONT-SIZE: 10pt">UCDP</font> <font style="FONT-SIZE: 10pt">Finance, Inc. (&ldquo;Finance&rdquo;) carried out an evaluation, with the participation of Finance&rsquo;s Principal Executive Officer and Principal Financial Officer, of the effectiveness of Finance&rsquo;s disclosure controls and procedures as of
        the end of the period covered by this report. Based upon that evaluation, Finance&rsquo;s Principal Executive Officer and Principal Financial Officer concluded that Finance&rsquo;s disclosure controls and procedures were effective to ensure that information required to be disclosed by Finance in the reports that it files or submits under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the rules, regulations and
        forms promulgated by the Securities and Exchange Commission.</font></p>

        <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">There was no change in Finance&rsquo;s internal control over financial reporting during the quarter ended March&nbsp;29, 2009 that has materially affected, or is reasonably likely to materially affect, Finance&rsquo;s internal control over financial reporting.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font size="2">25</font></a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" noshade>
        </div>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt"><a name="tx68688_5"></a>PART II &mdash; OTHER INFORMATION</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td valign="top" width="9%">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt"><a name="tx68688_6"></a>Item&nbsp;1.</font></b></p>
                </td>

                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt">Legal Proceedings</font></b></p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">See</font> <i><font style="FONT-SIZE: 10pt">Note 8</font></i> <font style="FONT-SIZE: 10pt">in</font> <i><font style="FONT-SIZE: 10pt">Part&nbsp;I &mdash; Item&nbsp;1</font></i><i><font style="FONT-SIZE: 10pt">.</font></i> <i><font style="FONT-SIZE: 10pt">Financial Statements</font></i> <font style="FONT-SIZE: 10pt">in this document for a
        detailed description of current legal proceedings.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td valign="top" width="9%">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt"><a name="tx68688_7"></a>Item&nbsp;1A.</font></b></p>
                </td>

                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt">Risk Factors</font></b></p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">See</font> <i><font style="FONT-SIZE: 10pt">Part&nbsp;I &mdash; Item&nbsp;1A</font></i> <font style="FONT-SIZE: 10pt">of our Annual Report on Form 10-K for the fiscal year ended December&nbsp;31, 2008, for a discussion regarding some of the reasons that our actual operating results may differ materially from those that we anticipate. One of the
        risk factors previously disclosed in our Annual Report on Form 10-K for the fiscal year ended December&nbsp;31, 2008 has been updated as follows:</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt"><b><font style="FONT-SIZE: 10pt">There is the risk of accidents or other incidents occurring at theme parks, including those owned by other theme park operators, which may create negative publicity which may reduce attendance and thereby negatively impact our results of operations.</font></b></font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">Our theme parks feature &ldquo;thrill rides.&rdquo; There are inherent risks involved with these sorts of rides and attractions. An accident or an injury at our theme parks or at another theme park may result in negative publicity which could reduce attendance and thereby negatively impact our results of operations.
        We purchase insurance to protect us in the event of an accident or certain other losses, however we are subject to high deductibles and our insurance may not cover all types of incidents. Additionally, we can not be assured that negative events unrelated to attractions, such as the outbreak of infectious disease or other health concerns, will not occur at our theme parks or at another theme park.</font></font></p>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td valign="top" width="9%">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt"><a name="tx68688_8"></a>Item&nbsp;2.</font></b></p>
                </td>

                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt">Unregistered Sales of Equity Securities and Use of Proceeds</font></b></p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Not applicable.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td valign="top" width="9%">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt"><a name="tx68688_9"></a>Item&nbsp;3.</font></b></p>
                </td>

                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt">Defaults upon Senior Securities</font></b></p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Not applicable.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td valign="top" width="9%">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt"><a name="tx68688_10"></a>Item&nbsp;4.</font></b></p>
                </td>

                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt">Submission of Matters to a Vote of Security Holders</font></b></p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">None.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td valign="top" width="9%">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt"><a name="tx68688_11"></a>Item&nbsp;5.</font></b></p>
                </td>

                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt">Other Information</font></b></p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">Peter Wallace, 34, was appointed to UCDP&rsquo;s Park Advisory Board and as a Blackstone representative to each of Holding I and Holding II on May 7, 2009.&nbsp; Mr. Wallace is a Managing Director in the Corporate Private Equity Group at Blackstone, a position he has held since 2006.&nbsp; &nbsp;From 2004 to 2006,
        Mr. Wallace served as a Principal with Blackstone.&nbsp;&nbsp; Mr. Wallace currently serves on the Board of Directors of AlliedBarton Security Services, Crestwood Midstream Partners, Pelmorex Media, Inc., Michael&rsquo;s Stores, Inc. and The Weather Channel Companies.</font></font></p>

        <p></p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td valign="top" width="9%">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt"><a name="tx68688_12"></a>Item&nbsp;6.</font></b></p>
                </td>

                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt">Exhibits.</font></b></p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p style="MARGIN-TOP: 4.5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">a) Exhibits</font></p>

        <table cellspacing="0" cellpadding="0" width="95%" align="center" border="0">
            <tr>
                <td valign="middle">&nbsp;</td>

                <td valign="bottom" width="1%">&nbsp;</td>

                <td valign="middle" width="94%">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt">31.1</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Certification of Principal Executive Officer of Universal City</font> <font style="FONT-SIZE: 10pt">Development Partners, Ltd. Pursuant to Rule 13a-14(a) or Rule 15d-14(a).</font></p>
                </td>
            </tr>

            <tr style="HEIGHT: 6pt">
                <td valign="middle">&nbsp;</td>

                <td valign="middle" colspan="2">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt">31.2</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Certification of Principal Financial Officer of Universal City</font> <font style="FONT-SIZE: 10pt">Development Partners, Ltd. Pursuant to Rule 13a-14(a) or Rule 15d-14(a).</font></p>
                </td>
            </tr>

            <tr style="HEIGHT: 6pt">
                <td valign="middle">&nbsp;</td>

                <td valign="middle" colspan="2">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt">31.3</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Certification of Principal Executive Officer of</font> <font style="FONT-SIZE: 10pt">UCDP</font> <font style="FONT-SIZE: 10pt">Finance, Inc. Pursuant to Rule 13a-14(a) or Rule 15d-14(a).</font></p>
                </td>
            </tr>

            <tr style="HEIGHT: 6pt">
                <td valign="middle">&nbsp;</td>

                <td valign="middle" colspan="2">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt">31.4</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Certification of Principal Financial Officer of</font> <font style="FONT-SIZE: 10pt">UCDP</font> <font style="FONT-SIZE: 10pt">Finance, Inc. Pursuant to Rule 13a-14(a) or Rule 15d-14(a).</font></p>
                </td>
            </tr>

            <tr style="HEIGHT: 6pt">
                <td valign="middle">&nbsp;</td>

                <td valign="middle" colspan="2">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32.1</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Certification of Principal Executive Officer of Universal City</font> <font style="FONT-SIZE: 10pt">Development Partners, Ltd. Pursuant to 18 U.S.C. Section 1350.</font></p>
                </td>
            </tr>

            <tr style="HEIGHT: 6pt">
                <td valign="middle">&nbsp;</td>

                <td valign="middle" colspan="2">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;32.2</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Certification of Principal Financial Officer of Universal City</font> <font style="FONT-SIZE: 10pt">Development Partners, Ltd. Pursuant to 18 U.S.C. Section 1350.</font></p>
                </td>
            </tr>

            <tr style="HEIGHT: 6pt">
                <td valign="middle">&nbsp;</td>

                <td valign="middle" colspan="2">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;32.3</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Certification of Principal Executive Officer of</font> <font style="FONT-SIZE: 10pt">UCDP</font> <font style="FONT-SIZE: 10pt">Finance, Inc. Pursuant to 18 U.S.C. Section 1350.</font></p>
                </td>
            </tr>

            <tr style="HEIGHT: 6pt">
                <td valign="middle">&nbsp;</td>

                <td valign="middle" colspan="2">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32.4</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 7.5pt">&nbsp;&nbsp;</font></p>
                </td>

                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Certification of Principal Financial Officer of</font> <font style="FONT-SIZE: 10pt">UCDP</font> <font style="FONT-SIZE: 10pt">Finance, Inc. Pursuant to 18 U.S.C. Section 1350.</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font size="2">26</font></a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" noshade>
        </div>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><a name="tx68688_13"></a></b><b><font style="FONT-SIZE: 10pt">SIGNATURES</font></b></p>
        <!-- PAGE BREAK  -->

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <p style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrants have duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</font></p>

            <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

            <p></p>

            <table cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="middle" width="41%">&nbsp;</td>

                    <td valign="bottom" width="1%">&nbsp;</td>

                    <td valign="middle" width="11%">&nbsp;</td>

                    <td valign="bottom" width="1%">&nbsp;</td>

                    <td valign="middle" width="4%">&nbsp;</td>

                    <td valign="bottom" width="1%">&nbsp;</td>

                    <td valign="middle" width="41%">&nbsp;</td>
                </tr>

                <tr style="HEIGHT: 12pt">
                    <td valign="middle">&nbsp;</td>

                    <td valign="middle" colspan="2">&nbsp;</td>

                    <td valign="middle" colspan="4">&nbsp;</td>
                </tr>

                <tr>
                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                    </td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                    </td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                    </td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                    </td>

                    <td valign="bottom" colspan="3">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt">UNIVERSAL CITY</font></b> <b><font style="FONT-SIZE: 10pt">DEVELOPMENT PARTNERS, LTD.</font></b></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 12pt">
                    <td valign="middle">&nbsp;</td>

                    <td valign="middle" colspan="2">&nbsp;</td>

                    <td valign="middle" colspan="2">&nbsp;</td>

                    <td valign="middle" colspan="2">&nbsp;</td>
                </tr>

                <tr>
                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Date: May 8, 2009</font></p>
                    </td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                    </td>

                    <td valign="top">&nbsp;</td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                    </td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">By:</font></p>
                    </td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                    </td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0.8pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; BORDER-BOTTOM: #000000 0.8pt solid" align="left"><font style="FONT-SIZE: 10pt">/s/ Tracey L. Stockwell</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top">&nbsp;</td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                    </td>

                    <td valign="top">&nbsp;</td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                    </td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Name:</font></p>
                    </td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                    </td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Tracey L. Stockwell</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top">&nbsp;</td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                    </td>

                    <td valign="top">&nbsp;</td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                    </td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Title:</font></p>
                    </td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                    </td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Principal Financial Officer</font></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 12pt">
                    <td valign="middle">&nbsp;</td>

                    <td valign="middle" colspan="2">&nbsp;</td>

                    <td valign="middle" colspan="4">&nbsp;</td>
                </tr>

                <tr>
                    <td valign="top">&nbsp;</td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                    </td>

                    <td valign="top">&nbsp;</td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                    </td>

                    <td valign="bottom" colspan="3">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt">UCDP</font></b> <b><font style="FONT-SIZE: 10pt">FINANCE, INC.</font></b></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 12pt">
                    <td valign="middle">&nbsp;</td>

                    <td valign="middle" colspan="2">&nbsp;</td>

                    <td valign="middle" colspan="2">&nbsp;</td>

                    <td valign="middle" colspan="2">&nbsp;</td>
                </tr>

                <tr>
                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Date: May 8, 2009</font></p>
                    </td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                    </td>

                    <td valign="top">&nbsp;</td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                    </td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">By:</font></p>
                    </td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                    </td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0.8pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; BORDER-BOTTOM: #000000 0.8pt solid" align="left"><font style="FONT-SIZE: 10pt">/s/ Tracey L. Stockwell</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top">&nbsp;</td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                    </td>

                    <td valign="top">&nbsp;</td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                    </td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Name:</font></p>
                    </td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                    </td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Tracey L. Stockwell</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top">&nbsp;</td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                    </td>

                    <td valign="top">&nbsp;</td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                    </td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Title:</font></p>
                    </td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                    </td>

                    <td valign="bottom">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">Principal Financial Officer</font></p>
                    </td>
                </tr>
            </table>
            <br>
            <a name="PAGENUM"><font size="2">27</font></a>
        </div>
        <br>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"></p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"></a>&nbsp;
        </div>
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        <br>
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
x
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 29, 2009
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-
108661
UNIVERSAL CITY
DEVELOPMENT PARTNERS, LTD.
UCDP
FINANCE, INC.
(Exact name of registrants as specified in their charters)
FLORIDA
59-
3128514
FLORIDA
42
-
1581381
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)
1000 UNIVERSAL STUDIOS PLAZA
ORLANDO, FL
32819-7610
(Address of principal executive offices)
(Zip Code)
(407) 363-8000
(Registrants' telephone number, including area code)
Indicate by check mark whether the Registrants (1) have 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) have been subject to such filing requirements for the
        past 90 days.    Yes
x
No
¨
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (?232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post
        such files).    Yes
¨
No
¨
Indicate by checkmark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer
¨
Accelerated filer
¨
Non-accelerated filer
x
Smaller reporting company
¨
(Do not check if a smaller reporting company)
Indicate by checkmark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange
        Act).    Yes
¨
No
x
Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practical date. As of May 8, 2009 there were 100 shares of common stock of
UCDP
Finance, Inc., outstanding. Not applicable to Universal City
Development Partners, Ltd.
TABLE OF CONTENTS
PAGE
PART I. FINANCIAL INFORMATION
ITEM 1. Financial Statements (unaudited)
3
ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
17
ITEM 3. Quantitative and Qualitative Disclosure About Market Risk
23
ITEM 4. Controls and Procedures
25
PART II. OTHER INFORMATION
ITEM 1. Legal Proceedings
26
ITEM 1A. Risk Factors
26
ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds
26
ITEM 3. Defaults upon Senior Securities
26
ITEM 4. Submission of Matters to a Vote of Security Holders
26
ITEM 5. Other Information
26
ITEM 6. Exhibits
26
SIGNATURES
27
UCDP
Finance, Inc.
is a
wholly owned
subsidiary
of Universal City
Development Partners, Ltd., and
was
formed for the sole purpose of acting as a co-issuer of the Registrants'
11
3/4
% senior notes due 2010.
UCDP
Finance, Inc. does
not and will not conduct any operations or hold any
        assets of any kind and will not have any future revenues.
UCDP
Finance, Inc. meet the conditions set forth in General Instructions H(1)(a) and (b) of Form 10-Q and are therefore filing this form with the reduced disclosure format.
2
PART I — FINANCIAL INFORMATION
ITEM 1.
Financial Statements
Universal City Development Partners, Ltd.
and Subsidiaries
Condensed Consolidated
Balance Sheets
(In thousands)
March 29,
2009
(unaudited)
December 31,
2008
ASSETS
Current assets:
Cash and cash equivalents
$
69,505
$
87,798
Accounts receivable, net
28,276
27,521
Receivables from related parties
4,819
7,489
Inventories, net
45,700
42,565
Prepaid expenses and other assets
16,446
8,899
Assets held for sale
17,637
17,637
Total current assets
182,383
191,909
Property and equipment, at cost:
Land and land improvements
476,984
475,021
Buildings and building improvements
1,386,609
1,381,492
Equipment, fixtures and furniture
1,109,469
1,112,537
Construction in process
188,218
157,117
Total property and equipment, at cost:
3,161,280
3,126,167
Less accumulated depreciation
(1,447,778
)
(1,426,192
)
Property and equipment, net
1,713,502
1,699,975
Other assets:
Investments in unconsolidated entities
12,738
11,939
Intangible assets, net
52,404
52,955
Deferred finance costs, net
9,559
11,948
Other assets
6,271
6,551
Total other assets
80,972
83,393
Total assets
$
1,976,857
$
1,975,277
Continued on next page.
3
Universal City Development Partners, Ltd. and Subsidiaries
Condensed Consolidated Balance Sheets
(Continued)
(In thousands)
March 29,
2009
(unaudited)
December 31,
2008
LIABILITIES AND PARTNERS' EQUITY
Current liabilities:
Accounts payable and accrued liabilities
$
143,048
$
126,148
Unearned revenue
56,505
45,508
Due to related parties
9,003
11,696
Interest rate swap liability, at fair market value
6,959
9,176
Current portion of capital lease and financing obligations
5,810
5,822
Total current liabilities
221,325
198,350
Long-term liabilities:
Long-term borrowings, net of current portion
1,008,167
1,007,960
Capital lease and financing obligations, net of current portion
28,529
27,929
Deferred special fee payable to affiliates
92,691
91,967
Other
5,698
6,725
Total long-term liabilities
1,135,085
1,134,581
Equity:
Partners' equity:
Vivendi Universal Entertainment
308,216
319,770
Blackstone
308,216
319,770
Accumulated other comprehensive loss
(2,812
)
(3,976
)
Total Partners' equity
613,620
635,564
Noncontrolling interest in UCRP
6,827
6,782
Total equity
620,447
642,346
Total liabilities and partners' equity
$
1,976,857
$
1,975,277
See accompanying notes.
4
Universal City Development Partners, Ltd.
and Subsidiaries
Condensed Consolidated
Statements of Operations
(UNAUDITED)
(In thousands)
Three Months Ended
March 29,
2009
March 30,
2008
Operating revenues:
Theme park passes
$
81,777
$
99,417
Theme park food and beverage
18,696
24,407
Theme park merchandise
16,788
23,319
Other theme park related
18,045
24,732
Other
28,483
35,430
Total operating revenues
163,789
207,305
Costs and operating expenses:
Theme park operations
40,425
43,159
Theme park selling, general and administrative
33,317
39,151
Theme park cost of products sold
19,930
26,938
Special fee payable to Vivendi Universal Entertainment and consultant fee
10,229
13,037
Depreciation and amortization
26,630
29,237
Other
26,445
31,466
Total costs and operating expenses
156,976
182,988
Operating income
6,813
24,317
Other expense (income):
Interest expense
25,241
24,947
Interest income
(44
)
(992
)
Net change in fair value of interest rate swaps and amortization of accumulated other comprehensive loss
(1,053
)
—
Income from investments in unconsolidated entities
(799
)
(1,485
)
Total other expense
23,345
22,470
Net
(loss) income
(16,532
)
1,847
Less: net income attributable to the noncontrolling interest in UCRP
486
751
Net
(loss) income
attributable to the Partners
$
(17,018
)
$
1,096
See accompanying notes.
5
Universal City Development Partners, Ltd.
and Subsidiaries
Condensed Consolidated
Statement of Comprehensive Income and Changes in Partners' Equity
(UNAUDITED)
(In thousands)
UCDP's Partners
Vivendi
Universal
Blackstone
Accumulated
Other
Comprehensive
Noncontrolling
Total
Comprehensive
Entertainment
Capital
Income (Loss)
Interest
Equity
Income (Loss)
Balance as of December 31, 2008
$
319,770
$
319,770
$
(3,976
)
$
6,782
$
642,346
$
—
Amortization of accumulated other comprehensive loss
—
—
1,164
—
1,164
1,164
Distributions to Holdings
(3,045
)
(3,045
)
—
—
(6,090
)
—
Distributions to noncontrolling interest in UCRP
—
—
—
(441
)
(441
)
—
Net (loss) income
(8,509
)
(8,509
)
—
486
(16,532
)
(16,532
)
Balance as of March 29, 2009
$
308,216
$
308,216
$
(2,812
)
$
6,827
$
620,447
$
(15,368
)
See accompanying notes.
6
Universal City Development Partners, Ltd.
and Subsidiaries
Condensed Consolidated
Statements of Cash Flows
(UNAUDITED)
(In thousands)
Three months ended
March 29,
2009
March 30,
2008
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash and cash equivalents provided by operating activities
$
25,793
$
43,470
CASH FLOWS FROM INVESTING ACTIVITIES
Property and equipment acquisitions
(37,519
)
(31,106
)
Net cash and cash equivalents used in investing activities
(37,519
)
(31,106
)
Continued on next page.
7
Universal City Development Partners, Ltd.
and Subsidiaries
Condensed Consolidated
Statements of Cash Flows (Continued)
(UNAUDITED)
(In thousands)
Three months ended
March 29,
2009
March 30,
2008
CASH FLOWS FROM FINANCING ACTIVITIES
Distributions to noncontrolling interest in UCRP
$
(441
)
$
(695
)
Payment of distributions
to Holdings
(6,090
)
(19,016
)
Payments on long-term borrowings, capital lease and financing obligations, net
(36
)
—
Net cash and cash equivalents used in financing activities
(6,567
)
(19,711
)
Net decrease in cash and cash equivalents
(18,293
)
(7,347
)
Cash and cash equivalents at beginning of period
87,798
127,874
Cash and cash equivalents at end of period
$
69,505
$
120,527
SUPPLEMENTAL DISCLOSURES OF NON-CASH INFORMATION
Increase of property and equipment related accrued liabilities
$
2,087
$
5,009
(Decrease) increase in interest rate swap liability
$
(2,217
)
$
6,782
Disposal of fully depreciated assets
$
4,493
$
410
See accompanying notes.
8
Universal City Development Partners, Ltd.
and Subsidiaries
Notes to
Condensed Consolidated
Financial Statements
(UNAUDITED)
1. General
Basis of Presentation
The accompanying unaudited
condensed consolidated
financial statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures which are normally included in financial
        statements prepared in accordance with U.S. generally accepted accounting principles have been omitted pursuant to those rules and regulations. The unaudited
condensed consolidated
financial statements reflect all normal recurring adjustments which are, in the opinion of the management, necessary to present fairly the financial position and the results of operations for the interim periods. The results for the
        interim periods are not necessarily indicative of the results that can be expected for a full year. The accompanying unaudited
condensed consolidated
financial statements should be read in conjunction with the audited
consolidated
financial statements for the year ended December 31, 2008 and the notes thereto, filed with the Securities
        and Exchange Commission under cover of Form 10-K.
The accompanying unaudited
condensed consolidated
financial statements include the consolidated amounts of Universal City
Development Partners, Ltd.
( "UCDP"); Universal City Travel
        Partners d/b/a Universal Parks & Resorts Vacations ("UPRV"); UCDP Finance, Inc.; and Universal City Restaurant Partners, Ltd. ("UCRP") (collectively, the "Company"). All significant intercompany balances and transactions have been eliminated upon consolidation.
Through Universal City Florida Holding Co. I ("Holding I") and Universal City Florida Holding Co. II ("Holding II", collectively with Holding I, "Holdings"), the Company's ultimate owners, each having a 50% interest, are Universal City Property Management II LLC ("Universal CPM") and
        Blackstone Capital Partners ("Blackstone") (collectively, the "Partners"). Universal CPM is a wholly owned subsidiary of Vivendi Universal Entertainment LLLP ("VUE"), an affiliate of Universal Studios, Inc. ("USI"), which is an indirect subsidiary of NBC Universal, Inc. ("NBCU").
Period End
The three months ended March 29, 2009 contained 88 days while the three months ended March 30, 2008 contained 90 days.
Seasonality
Based on the seasonality of attendance, the results for the three months ended March 29, 2009 and March 30, 2008 are not necessarily indicative of results for the full year.
The
week before and after Easter are peak attendance periods. In 2008, Easter was on March
        23. In 2009, Easter was on April 12. This shift in Easter moved the peak attendance period from the first quarter of 2008 to the second quarter of 2009.
Reclassification
s
Certain items in the prior years'
condensed consolidated
financial statements have been reclassified to conform to the 2009 presentation. The cash flows during the quarter ended March 30, 2008 related to
payments of
distributions
to Holdings
and changes in
accounts payable and
accrued liabilities related to property and equipment, which totaled $11,610,000 and $5,010,000, respectively, were reclassified out of cash flow from operating activities. This reclassification had no impact on net income, total assets or
        partners' equity.
Inventories
The major components of inventories are as follows (in thousands):
March 29,
2009
December 31,
2008
Merchandise
$
15,880
$
12,421
Food and beverage
3,642
3,962
Operating supplies and maintenance parts
28,180
28,156
Less: reserves
(2,002
)
(1,974
)
Total
$
45,700
$
42,565
9
Intangible Assets
Intangible assets primarily consist of the rights to use certain characters and trademarks. Intangible assets are recorded at net present value and amortized on a straight-line basis over a period ranging from 10 to 20 years, which has a weighted average amortizable life of 11 years. Intangible assets totaled $52,404,000 and
        $52,955,000, respectively, as of March 29, 2009 and December 31, 2008. This included $15,247,000 and $14,696,000 in accumulated amortization, respectively, as of March 29, 2009 and December 31, 2008. Amortization expense amounted to $551,000 and $596,000, respectively, during the three months ended March 29, 2009 and March 30, 2008. Amortization of existing intangible assets will be approximately $1,768,000 for 2009 and $5,255,000 each of the following four
        years.
Change in Estimate
Due to the construction and renovation of new rides and attractions, portions of existing rides and attractions will be disposed of prior to their original estimated useful life. As a result, depreciation of the existing rides and attractions will be accelerated to reflect their remaining useful life. For the three months ended March 29, 2009
        and March 30, 2008, the Company incurred additional depreciation expense of $916,000 and $1,259,000, respectively, relating to accelerating the life of various ride and show assets.
Recent Accounting Pronouncements
Determination
of the Useful Life of Intangible Assets
" ("FSP 142-3"). FSP 142-3 amends the factors that should be considered in developing renewal or extension assumptions used to determine the useful life of a recognized intangible
        asset under FASB Statement No. 142, "
Goodwill and Other Intangible Assets
" and requires enhanced related disclosures. FSP 142-3 must be applied prospectively to all intangible assets acquired as of and subsequent to fiscal years beginning after December 15, 2008. FSP 142-3 became effective for the Company on January 1, 2009. Although future transactions involving
        intangible assets may be impacted by this guidance, FSP 142-3 did not impact the Company's current financial statements as the Company did not acquire any intangible assets during the three months ended March 29, 2009.
In March 2008, the FASB issued SFAS No. 161,
"Disclosures about Derivative Instruments and Hedging Activities—an amendment of FASB Statement No.
133"
("SFAS 161"). SFAS 161 expands the disclosure requirements for derivative instruments and hedging activities. This Statement specifically requires entities to provide enhanced disclosures addressing the following: how and why an entity uses derivative instruments; how derivative instruments and related hedged items are accounted for under Statement 133 and its related interpretations; and how derivative instruments and related hedged items
        affect an entity's financial position, financial performance, and cash flows. SFAS 161 is effective for fiscal years beginning after November 15, 2008. SFAS No. 161 became effective for the Company on January 1, 2009. The Company's adoption of the standard did not have a material impact on its financial position, results of operations or cash flows
as it is primarily disclosure related.
In December 2007, the FASB issued SFAS No. 160, "
Noncontrolling Interests in Consolidated Financial Statements—An Amendment of ARB No.
51"
("SFAS
        160"). SFAS 160 establishes new accounting and reporting standards for the noncontrolling interest in a subsidiary and for the deconsolidation of a subsidiary. SFAS 160 is effective for fiscal years beginning on or after December 15, 2008. SFAS 160
became
effective for the Company on January 1, 2009. Although this guidance impacts the presentation of noncontrolling interests in certain of the
        Company's investments in
consolidated
entities, the adoption of the standard
did not have
a material impact on
the Company's
financial position, results of operations or cash flows.
Specifically, SFAS 160 impacted the
        Company's financial statements by reclassifying the noncontrolling interest in UCRP (formerly known as minority interest) from the liability section into the equity section of the
Condensed Consolidated
Balance Sheets. As a result, the net income attributable to the noncontrolling interest in UCRP is no longer excluded from the determination of net income (or loss) on the
Condensed Consolidated
Statements of Operations. The determination of the income attributable to noncontrolling interest in UCRP continues to be calculated based on the underlying ownership percentage.
The adoption resulted in the reclassification of $6,782,000 of noncontrolling interest in UCRP from minority interest to Partners' equity on the December 31, 2008 Condensed
        Consolidated Balance Sheets and the presentation of net income of $751,000 attributable to the noncontrolling interest in UCRP in the March 30, 2008 Condensed Consolidated Statements of Operations.
In December 2007, the FASB issued SFAS No. 141(R), "
Business Combinations"
("SFAS 141(R)"). This statement modifies certain aspects of how the acquiring entity recognizes and measures the identifiable assets, the liabilities assumed and
        the goodwill acquired in a business combination. SFAS 141(R) is effective for fiscal years beginning after December 15, 2008.
Although
SFAS 141 (R) will impact the Company's accounting for business combinations completed on or after January 1, 2009, SFAS 141 (R) did not impact the Company's current financial statements as the Company did not enter into any business combinations during
        the three months ended March 29, 2009.
10
2. Long-Term Borrowings
Indebtedness consisted of the following (in thousands, except percentages):
Interest Rate
Maturity Date
As of March 29,
2009
As of
December 31,
2008
Senior secured credit facility
LIBOR + 300 bps (1)
(2)
$
509,000
$
509,000
UCDP fixed rate senior notes ("April 2010 notes")
11.75%
April 1, 2010
500,000
500,000
Gross principal payable
1,009,000
1,009,000
Unamortized discounts
(833
)
(1,040
)
Total debt
$
1,008,167
$
1,007,960
(1)
The LIBOR interest rate on the senior secured credit facility is subject to a 300 bps floor.
(2)
The maturity date of the senior secured credit facility is June 9, 2011, however, it is repayable in full at April 1, 2010, if the April 2010 notes and
Holdings'
May 2010 notes are not refinanced or repaid in full prior to such date.
As of March 29, 2009 and December 31, 2008, the Company had $100,000,000 available under its revolving credit facilities.
3. Interest Rate Swaps
The Company utilizes interest rate swap agreements as a risk management tool to manage a portion of its interest rate exposures. The principal objective of the swap agreements is to minimize the risks and costs associated with financial activities. The Company does not use financial instruments for trading purposes. The Company specifically
        designates interest rate swap hedges of outstanding debt instruments and recognizes interest differentials in the period they occur.
11
The Company follows SFAS No. 133, "
Accounting for Derivative Instruments and Hedging Activities"
("SFAS 133"), as amended by SFAS No. 138, "
Accounting for Certain Derivative Instruments
        and Certain Hedging Activities an amendment of FASB Statement No. 133
" and SFAS No. 149, "
Amendment of Statement 133 on Derivative Instruments and Hedging Activities"
, to account for its interest rate swaps. This standard established accounting and reporting standards for derivative instruments, including certain derivative instruments embedded
        in other contracts (collectively referred to as derivatives), and for hedging activities. It requires that the entity recognize all derivatives as either assets or liabilities in the balance sheet and measure those assets at fair value. The fair values are the estimated amounts that the Company would pay or receive upon termination of the swap agreements at the reporting date, taking into account current interest rates and the current creditworthiness of the counterparties. Changes in
        the underlying market value of swap arrangements that qualify as cash flow hedging activities under SFAS 133 are recognized as other comprehensive income (loss) in the accompanying
consolidated
statements of comprehensive income and changes in partners' equity. Changes in the underlying market value of swap arrangements that do not qualify as hedging activities under SFAS 133 are recognized as a
        change in the fair value of interest rate swaps in the accompanying
consolidated
statements of operations. Additionally, the accumulated other comprehensive income (loss) related to interest rate swaps that become ineffective is amortized on a straight-line basis through the change in the fair value of interest rate swaps in the accompanying
consolidated
statements of operations. In the fourth quarter of 2008, the Company's interest rate swap agreements became ineffective in accordance with SFAS No. 133, "
Accounting for Derivative Instruments and Hedging Activities"
("SFAS 133"), as amended.
Accordingly, the accounting treatment for these interest rate
        swaps is different during the three months ended March 29, 2009 as compared to the three months March 30, 2008. The following table summarizes the notional values and fair values of our derivative financial instruments as of March 29, 2009 (in thousands, except percentages):
Notional
value
Expiration
date
Fair
value
Interest
rate
Accounting treatment
Terms
$200,000
November 20, 2009
$(4,714)
4.77%
Statement of operations
Fixed
125,000
October 15, 2009
(2,245)
4.41%
Statement of operations
Fixed
$325,000
$(6,959)
The Company is exposed to credit loss in the event of nonperformance by the other party to its derivative financial instruments. The Company limits this exposure by entering into agreements directly with a number of major financial institutions that meet its credit standards and that are expected to satisfy their obligations under these
        contracts. The Company views derivative financial instruments as a risk management tool in the prudent operation of its business.
The Company utilizes SFAS 157 in relation to its accounting for assets and liabilities carried at fair value. SFAS 157, among other things, defines fair value, establishes a consistent framework for measuring fair value and expands disclosure for each major asset and liability category measured at fair value on either a recurring or nonrecurring basis. SFAS 157 clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or
        paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, SFAS 157 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows:
Level 1
. Observable inputs such as quoted prices in active markets for identical assets or liabilities;
Level 2
. Inputs, other than quoted prices included within Level 1, that are observable either directly or indirectly; and
Level 3
. Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.
The Company's derivative financial instruments as of March 29, 2009 are valued using inputs that fall within Level 2 of the three-tier hierarchy established by SFAS 157. Furthermore, as of March 29, 2009 and December 31, 2008, respectively, the Company did not have assets or liabilities valued using inputs that fall within Level 1 or
        Level 3 of the three-tier hierarchy established by SFAS 157. Information to determine the fair values of the interest rate swap agreements is provided to the Company by the counterparty. The Company believes the LIBOR yield curves are the primary significant input used by the counterparty to determine the fair value information.  LIBOR yield curves are considered Level 2 observable market inputs. Additionally, in making the fair value determination, the Company monitors the credit
        and nonperformance risk associated with its derivative counterparties and believes they are not material to the interest rate swap agreements and do not require a credit adjustment at March 29, 2008 or December 31, 2008, respectively.
12
4. Accounts Payable and Accrued Liabilities
The following presents major components of accounts payable and accrued liabilities (in thousands) as of:
March 29,
2009
December 31,
2008
Accounts payable
$
4,935
$
10,920
Capital expenditures
38,804
36,717
Marketing and advertising
7,479
4,832
Interest
33,464
19,897
Compensation and benefits
26,581
27,301
Operating accruals
16,753
15,043
Consulting fees
3,451
4,443
Property and sales tax
6,331
1,972
Other
5,250
5,023
Total
$
143,048
$
126,148
5. Capital leases and financing obligations
Intangible assets and equipment, fixtures and furniture included approximately $42,617,000 and $42,788,000, related to financing obligations and capital leases as of March 29, 2009 and December 31, 2008, respectively. This included
$932,000
and $761,000 in
        accumulated depreciation and amortization as of March 29, 2009 and December 31, 2008, respectively. At March 29, 2009, future minimum payments due under financing obligations and capital leases totaled approximately $34,339,000 (net of $12,662,000 in interest). Future minimum payments include $5,698,000, $4,173,000, $3,879,000, $3,591,000, $3,479,000, and $13,519,000, due in 2009, 2010, 2011, 2012, 2013, and years subsequent to 2013, respectively.
13
6. Comprehensive loss
Comprehensive loss is as follows (in thousands):
Three Months Ended
March 29,
2009
March 30,
2008
Net
(loss) income
$
(16,532
)
$
1,847
Amortization of accumulated other comprehensive loss from interest rate swaps previously designated as hedges
1,164
—
Change in fair value of interest rate swaps designated as hedges
—
(6,782
)
Comprehensive loss
(15,368
)
(4,935
)
Less:
comprehensive
income attributable to the noncontrolling interest in UCRP
486
751
Comprehensive loss attributable to the Partners
$
(15,854
)
$
(5,686
)
7. Related Party Transactions
Under the terms of UCDP's partnership agreement, a special fee is payable to Vivendi Universal Entertainment through Universal CPM equal to 5% of certain revenue, as defined, generated by Universal Studios Florida and Universal's Islands of Adventure. During the three months ended March 29, 2009 and March 30, 2008, the Company
        paid fees of $8,861,000, and $9,015,000, respectively, to Vivendi Universal Entertainment. In addition, at March 29, 2009 and December 31, 2008, respectively, the amount due to related parties included $6,810,000 and $8,861,000 related to the current portion of special fees payable to Vivendi Universal Entertainment.
At March 29, 2009 and December 31, 2008, the Company had long-term deferred special fees payable to affiliates of Vivendi
        Universal Entertainment of approximately $92,691,000 and $91,967,000, respectively.
Subsequent to the Company's refinancings in December 2004, the most restrictive quarterly covenant for payment of the special fee is a debt to EBITDA ratio (as defined in the April 2010 notes) of 5.0 to 1.0 or less related to the current special fees and 3.75 to 1.0 or less related to the deferred special fees (as defined in the senior
        secured credit agreement). As these ratios were met as of March 29, 2009, payments of $6,810,000 in special fees will be made during the second quarter of 2009.
8. Commitments and Contingencies
2008 Assessments
On December 5, 2008, UCDP filed complaints in state circuit court challenging the 2008 assessments by the Orange County Property Appraiser (the "Property Appraiser") of certain real and tangible personal property owned by UCDP. On February 2, 2009, the Property Appraiser answered the complaints and also moved to dismiss the discriminatory assessment counts asserted by UCDP. On February 16, 2009, the Orange County Tax Collector (the "Tax Collector") similarly
        answered the complaints and moved to dismiss the discriminatory assessment counts asserted by UCDP. UCDP paid the full assessments with respect to the 2008 real and personal property on November 26, 2008. Accordingly, an adverse resolution of these assessments would not create any exposure beyond the amount already paid by UCDP.
14
2007 Assessments
On September 18, 2007, UCDP filed petitions to the Orange County Value Adjustment Board ("VAB") seeking review and adjustment of the 2007 assessments by the Property Appraiser of certain real and tangible personal property owned by UCDP. The Special Magistrates recommended that UCDP's petitions be denied as to the Universal Studios Florida ("USF") and Universal's Islands of Adventure ("UIOA") tangible personal property and real
        property and recommended that the assessment as to UCDP's parking garages be reduced. The VAB approved and adopted the Special Magistrates' recommendations on February 26, 2008. On April 24, 2008, UCDP filed complaints challenging these assessments in state circuit court. On June 4, 2008, the Tax Collector answered the complaints. On June 16, 2008, the Property Appraiser answered the complaints. Both the Property Appraiser and the Tax Collector also moved
        to dismiss UCDP's discriminatory assessment claims. On November 12, 2008, the court consolidated UCDP's complaint involving the 2007 assessments of the parking garages with a similar complaint that UCDP filed involving the 2006 assessments. On February 11, 2009, the court granted the defendants' motions to dismiss the discriminatory assessment count in UCDP's complaint involving the parking garages, and it granted UCDP leave to amend that count. On March 16,
        2009, UCDP filed its amended complaint, and both the Property Appraiser and the Tax Collector subsequently answered UCDP's amended complaint. In addition, in late 2008, the Property Appraiser and Tax Collector filed a Joint Motion for Summary Judgment as to Count I of UCDP's complaint involving its tangible personal property. On March 26, 2009, the court denied that Joint Motion. UCDP paid the full assessment with respect to the 2007 real and personal property on
        November 30, 2007. Accordingly, an adverse resolution of these assessments would not create any exposure beyond the amount already paid by UCDP.
2006 Assessments
In the second quarter of 2007, UCDP received and recorded a refund of approximately $1.0 million (the "2006 Refund") with respect to an adjustment of the 2006 assessments by the Property Appraiser reducing the assessed property values of certain real and tangible personal property owned by UCDP.
Meanwhile, on April 17, 2007, the Property Appraiser filed a complaint in state circuit court challenging the reduced 2006 tangible personal property assessments. This case is currently set for trial during July 2009. On May 16, 2007, UCDP filed two complaints challenging the Property Appraiser's 2006 assessments for (i) real property at USF and UIOA, and for (ii) UCDP's parking garages. The Property Appraiser and the Tax Collector answered UCDP's
        complaints and also moved to dismiss UCDP's discriminatory assessment claims. On November 12, 2008, the court consolidated UCDP's complaint involving the 2006 assessments of the parking garages with a similar complaint that UCDP filed involving the 2007 assessments. On February 11, 2009, the court granted the defendants' motions to dismiss the discriminatory assessment count in UCDP's complaint involving the parking garages, and it granted UCDP leave to amend
        that count. On March 16, 2009, UCDP filed its amended complaint, and both the Property Appraiser and the Tax Collector subsequently answered UCDP's amended complaint. The parties are currently engaged in discovery and the Company cannot predict the outcome of these cases. In the event of an adverse determination, UCDP may be required to repay the amount of the 2006 Refund, plus interest and penalties if awarded by the court. It is premature to assess the likelihood of any material
        impact to UCDP's results of operations, financial position or cash flows.
Back Assessments
On December 21, 2006, the Property Appraiser concluded an audit of UCDP's 2003, 2004 and 2005 tangible personal property returns, asserting that UCDP underreported its tangible personal property in each of those years. The Property Appraiser issued back assessments resulting in back taxes, interest and penalties being charged by the Tax Collector. On February 19, 2007, UCDP filed a complaint in state circuit court challenging the legality of the back assessments and
        seeking other relief. On April 25, 2007, the Court dismissed the portions of UCDP's complaint pertaining to the back assessments on UIOA, and it also dismissed UCDP's due process claim. On May 14, 2007, UCDP re-filed the complaint ("UCDP's Re-filed Back Assessment Complaint") as to UIOA. On February 15, 2008, the court denied the Property Appraiser's motion to dismiss UCDP's Re-filed Back Assessment Complaint. The
        Property Appraiser and Tax Collector appealed the denial of the dismissal of UCDP's Re-filed Back Assessment Complaint. UCDP opposed the appeal, and on July 3, 2008, the Court denied the appeal. Therefore, UCDP's actions challenging the back assessments remain pending and are currently being litigated.
Other
The Company is threatened with or involved in various other legal actions and claims incidental to the conduct of its business. Management does not expect these legal actions and claims to have a material impact to the Company's results of operations, financial position or cash flows.
15
Consultant Agreement
Additionally, the Company has an agreement (the "Consultant Agreement") with Steven Spielberg (the "Consultant") under which it pays a fee for consulting services and exclusivity equal to a percentage of the Company's gross revenues from the attractions and certain other facilities owned or operated, in whole or in
        part, by the Company. Under the terms of the Consultant Agreement, the Consultant is also entitled to a fee based on a percentage of gross revenues of comparable projects, which are gated motion picture and television themed attractions owned or operated, in whole or in part, by the Company, or any of its partners or any of their affiliates, other than in Universal City, California. At present, the only theme park that is a comparable project is Universal Studios Japan in Osaka, Japan.
        It is possible that comparable projects will be created in the future that would fall under the Consultant Agreement. For instance, Vivendi Universal Entertainment has entered into licensing arrangements for Universal theme parks in Singapore and Dubai. The Consultant may also be entitled to participate in certain sales of equity by the Company's Partners and to participate in certain real estate development activities of the Company's partners or their affiliates. Although
        the Consultant Agreement has no expiration date, starting in June 2010, the Consultant has the right, upon 90 days notice, to terminate the periodic payments under the Consultant Agreement and receive instead one cash payment equal to the fair market value of the Consultant's interest in the revenue streams in the Orlando parks and any comparable projects that have been open at that time for at least one year, which fair market value could be significant. If the Consultant
        exercises the option and the parties cannot agree on the fair market value of the buyout option, the fair market value will be determined by a binding appraisal procedure. The Company represented under the agreement that the Consultant's interest in each of the Company's parks and in any comparable projects will have priority over the interests of all financiers, lenders and others who may have an interest in that park or project. The Company's obligations under the
        agreement are guaranteed by Universal Studios, Inc., as successor to MCA Inc., and Universal Studios, Inc.'s obligations under that guarantee have in turn been assumed by Vivendi Universal Entertainment. Vivendi Universal Entertainment has indemnified the Company against any liability under the Consultant Agreement related to any comparable project that is not owned or controlled by the Company. Under the terms of Holdings' May 2010 notes, the April 2010 notes and the senior
        secured credit agreement, a lien to secure the Company's obligations under the Consultant Agreement would be a permitted lien. This event could adversely impact the Company's liquidity.
9. Subsequent Event
In April 2009, the Company paid distributions to the Partners totaling $33,369,000
for their expected payments of income taxes based on the Company's financial results. These distributions are required per the UCDP partnership agreement. Additionally, in May 2009, the Company made distributions to
        Holdings of $10,672,000.
16
Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Overview Related to Financial Results
For the first quarter of 2009, we experienced a decrease of 19.5% in our paid attendance and a decrease in EBITDA (as defined on page 19) of $20.5
million. These decreases were driven by three primary attendance trends. First, the week before and after Easter are peak attendance periods. In 2008, Easter was
        on March 23. In 2009, Easter was on April 12. This shift in Easter moved the peak attendance period from the first quarter of 2008 to the second quarter of 2009. Second,
our
business continues to be impacted by the downturn in the global economy. Lastly, due to the timing of
our
fiscal year-end, the first quarter of
2009
had two
less
days compared to the first quarter of
2008. Theme park spending
on a per guest basis
decreased approximately 3%
during the first quarter 2009, which, along with the lower attendance,
        contributed to a $43.5 million shortfall in revenues and an incremental $18.4
million net loss compared to 2008. We finished
the first quarter of 2009 with $169.5
million in cash and cash equivalents, including $100.0 million in unused revolving credit. We also owed $1,008.2 million on our long-term debt at March 29, 2009.
Seasonality
Theme park attendance follows a seasonal pattern which coincides closely with holiday and school schedules. The year begins with the end of the peak Christmas and New Year's holiday period. When children return to school, attendance levels subside. During the March to April timeframe, spring break and Easter vacation periods drive
        seasonally high attendance. Since the peak spring break period fluctuates from year to year between the end of the first quarter and the beginning of the second quarter, historical quarterly financial information might not be comparable. May is a traditionally slow attendance period. June marks the beginning of the summer attendance peak when local schools are out for the summer. This peak attendance period continues throughout the month of June, as schools outside of Florida finish
        their terms. The peak summer period includes the entire month of July and the first few weeks in August, when the local schools begin to go back into session. Attendance levels continue to decline through Labor Day, when schools outside of Florida begin. Excluding special events such as "Rock the Universe" in September and "Halloween Horror Nights" in October, the period from September through November is seasonally slow, with an attendance spike around
        Thanksgiving week. Attendance falls again after Thanksgiving weekend, and does not pick up until the third week of December, when the peak Christmas and New Year's holiday period begins. The Atlantic Ocean hurricane season begins in June and ends in November of each year. Historically, hurricanes have had little impact on Orlando theme parks. Since opening in 1991, our parks have been closed only five days due to the inclement weather caused by hurricanes, four of which occurred
        during the 2004 and 2005 hurricane seasons.
The week before and after Easter are peak attendance periods. In 2008, Easter was on March 23. In 2009, Easter was on April 12. This shift in Easter moved the peak attendance period from the first quarter of 2008 to the second quarter of 2009.
Based on the seasonality of our attendance, the results for the three month periods ended March 29, 2009 and March 30, 2008 are not necessarily indicative of results for the full year.
Critical Accounting Policies and Estimates
In the ordinary course of business, we make a number of estimates and assumptions relating to the reporting of results of operations and financial condition in the preparation of our
condensed consolidated
financial statements in conformity with U.S. generally accepted
        accounting principles. Results could differ significantly from those estimates under different assumptions and conditions. We believe that the application of these accounting policies, which are important to our financial position and results of operations, requires significant judgments and estimates on the part of management. For a summary of all of our accounting policies, including our critical accounting policies, see
Note 2
in our audited
consolidated
financial statements for the year ended December 31, 2008 filed with the Securities and Exchange Commission under cover of Form 10-K. Besides what is disclosed within this document, there have been no material developments with respect to the critical accounting policies discussed in detail in our Form 10-K within
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations
.
Litigation
We are currently involved in certain legal proceedings and, as required, have accrued the low end of the estimated range of probable costs for the resolution of these claims. This estimate has been developed in consultation with outside counsel and is based upon an analysis of potential results, assuming a combination of litigation and
        settlement strategies. It is possible, however, that future results of operations for any particular quarterly or annual period could be materially affected by changes in our assumptions or the effectiveness of our strategies related to these proceedings.
See
Note 8
in
Part 1, Item 1. Financial Statements
in this document for more detailed information on litigation exposure.
Period end
The three months ended March 29, 2009 and March 30, 2008 contained 88 and 90 days, respectively.
Recent accounting pronouncements
See "
Note 1. General
" in "
Part I – Item 1. Financial Statements
" for a detailed description of recent accounting pronouncements.
17
Results of Operations
Three months ended
% Change
(In Thousands, Except Percentages)
March 29,
2009
March 30,
2008
Favorable/
(unfavorable)
Operation data:
Paid theme park admissions
1,841
2,286
(19.5
)%
Turnstile theme park admissions
2,013
2,455
(18.0
)%
Theme park pass revenue per paid admission
$
44.42
$
43.49
2.1
%
Theme park food, beverage and merchandise revenue per turnstile admission
$
17.63
$
19.44
(9.3
)%
Other theme park related revenue per turnstile admission
$
8.96
$
10.07
(11.0
)%
Statement of operations data:
Operating revenues:
Theme park passes
$
81,777
$
99,417
(17.7
)%
Theme park food and beverage
18,696
24,407
(23.4
)%
Theme park merchandise
16,788
23,319
(28.0
)%
Other theme park related
18,045
24,732
(27.0
)%
Other
28,483
35,430
(19.6
)%
Total operating revenues
163,789
207,305
(21.0
)%
Costs and operating expenses:
Theme park operations
40,425
43,159
6.3
%
Theme park selling, general and administrative
33,317
39,151
14.9
%
Theme park cost of products sold
19,930
26,938
26.0
%
Special fee to Vivendi Universal Entertainment and consultant fee
10,229
13,037
21.5
%
Depreciation and amortization
26,630
29,237
8.9
%
Other
26,445
31,466
16.0
%
Total costs and operating expenses
156,976
182,988
14.2
%
Operating income
6,813
24,317
(72.0
)%
Non-operating expenses
23,345
22,470
(3.9
)%
Net (loss) income
(16,532
)
1,847
NM
Less: net income attributable to the noncontrolling interest in UCRP
486
751
35.3
%
Net (loss) income
attributable to the Partners
$
(17,018
)
$
1,096
NM
NM – not meaningful
Three Months Ended March 29, 2009 Compared to Three Months Ended March 30, 2008
Paid Theme Park Admissions decreased 19% during the first quarter of 2009 compared to the first quarter of 2008. As discussed previously, this was driven by the shift in Easter, the two extra days in the first quarter of 2008 and the downturn in the global economy. In the first quarter,
both
our
domestic and international
markets experienced attendance declines
in the high teens. Accordingly, our total Operating Revenues decreased $43.5 million, or 21%, driven by the attendance shortfall and declines in per capita spending of 3%.
Theme Park Pass Revenue Per Paid Admission increased 2% as a result of
        selective price changes to maximize yield.
Per turnstile admission spending on food and beverage and merchandise decreased 9%. Per turnstile admission spending on Other Theme Park Related items decreased 11%, principally due to a decrease in corporate special events of $4.0 million and $1.5 million in reduced guest spending on our Universal Express Plus product, which typically decreases in periods of lower attendance. As compared to the first
        quarter of 2008, our Other Revenue category was unfavorable by $6.9 million, or 20%, due to lower revenue from our CityWalk operations and travel company of $3.3 million and $2.9 million, respectively.
18
Theme Park Operations were favorable by $2.7 million largely due to decreased maintenance, entertainment and operational costs resulting from our reduced attendance levels and management's cost saving initiatives. This favorability was achieved notwithstanding the incremental operating costs incurred in 2009 from The Simpsons
        Ride
TM
, which opened in May 2008.
Theme Park Selling, General and Administrative costs were favorable $5.8 million due to reductions in marketing spend, travel and non-essential training.
Cost of goods sold decreased 26%, and expenses related to our special fee and consultant fee decreased 22%, both of which correlate to the
        decrease in Operating Revenues. Other Costs and Operating Expenses were favorable by $5.0 million due to reduced operating costs at our travel company and CityWalk operations of $2.4 million and $1.7 million, respectively. These reduced operating costs correlate to the lower revenues from each of these areas as discussed previously. Non-operating Expenses were slightly
unfavorable
due to lower income from our
        unconsolidated joint ventures and reduced interest income resulting from lower interest rates. These
items were partially offset by
changes in the fair value of our interest rate swaps and lower interest expense.
EBITDA
Earnings before interest expense, income taxes, depreciation and amortization or, EBITDA, is defined as net income excluding: (i) interest expense, net of interest income; and (ii) depreciation and amortization. Our management assesses operational performance using EBITDA (as defined) because it is used by some investors as a measure
        of our ability to service debt. In addition, it is the primary basis in the UCDP senior secured credit agreement to determine our quarterly compliance with our funded debt ratio and the interest coverage ratio, which is computed based on the trailing four quarters. We believe the UCDP senior secured credit agreement is a material agreement as it represents a critical component of our capital structure and an important source of our liquidity. Our failure to comply with the financial
        maintenance covenants in the UCDP senior secured credit agreement would result in an event of default occurring under the agreement which would give our lenders the right to accelerate all of the indebtedness then outstanding under that agreement. EBITDA (as defined) represents earnings before interest, taxes and depreciation and amortization and certain other adjustments permitted by the definition of EBITDA in the senior secured credit agreement. EBITDA (as defined) is not prepared in
        accordance with United States generally accepted accounting principles and should not be considered as an alternative for net income, net cash provided by operating activities and other
consolidated
income or cash flow statement data prepared in accordance with United States generally accepted accounting principles or as a measure of profitability or liquidity. EBITDA (as defined), because it is before debt
        service, capital expenditures, and working capital needs, does not represent cash that is available for other purposes at our discretion. Our presentation of EBITDA (as defined) may not be comparable to similarly titled measures reported by other companies. The following is a reconciliation of net cash provided by operating activities to EBITDA (in thousands):
Three Months Ended
March 29,
2009
March 30,
2008
Cash and cash equivalents provided by operating activities
$
25,793
$
43,470
Adjustments:
Interest expense
25,241
24,947
Interest income
(44
)
(992
)
Amortization of deferred finance costs
(2,389
)
(1,291
)
Changes in deferred special fee payable and related interest payable to affiliates
(724
)
(1,252
)
Distributions from investments in unconsolidated entities
—
(635
)
Income from investments in unconsolidated entities
799
1,485
Accretion of bond discount
(207
)
(208
)
Interest on financing obligations
(624
)
(583
)
Income attributable to the noncontrolling interest in UCRP
(486
)
(751
)
Change in working capital
(13,603
)
(9,902
)
EBITDA
$
33,756
$
54,288
19
The following is a reconciliation of net
(loss)/income
attributable to the Partners to EBITDA (in thousands):
Three Months Ended
March 29,
2009
March 30,
2008
Net
(loss) income
attributable to the Partners
$
(17,018
)
$
1,096
Adjustments:
Interest expense
25,241
24,947
Change in fair value of interest rate swaps and amortization of accumulated other comprehensive loss
(1,053
)
—
Depreciation and amortization
26,630
29,237
Interest income
(44
)
(992
)
EBITDA
$
33,756
$
54,288
Liquidity and Capital Resources
Cash flows
The following table summarizes key aspects of our cash flows (in thousands):
Three months ended
March 29,
2009
March 30,
2008
Net cash and cash equivalents provided by operating activities
$
25,793
$
43,470
Net cash and cash equivalents used in investing activities
37,519
31,106
Capital expenditures
37,519
31,106
Net cash and cash equivalents used in financing activities
6,567
19,711
During the three months ended March 29, 2009 and March 30, 2008, net cash provided by operating activities was $25.8
million and $43.5
million,
respectively. This decrease in cash flow from operations of $17.7
million was largely due to the increase in our net loss of $18.4
million as discussed previously.
Net cash used in investing activities for the three months ended March 29, 2009 and March 30, 2008, totaled $37.5 million and $31.1 million, respectively. For both years, the amount consisted of capital expenditures. We make annual investments both to provide ongoing capital support for our existing park attractions and infrastructure, and
        also to fund the development of new park attractions and infrastructure. We believe these investments are critical in maintaining our position of having technologically advanced theme parks and to effectively compete with our competitors. These costs can vary from one year to the next, depending on the timing of the construction cycles.
20
We estimate our capital expenditures, including intellectual property rights, to be approximately $110.0 million during 2009. Our capital expenditures in excess of the amount permitted by the capital covenant in our senior secured credit agreement will be funded through partner equity contributions made in 2008. A large portion of this cost
        relates to the design and construction of the upcoming Hollywood Rip Ride Rockit
SM
coaster and Wizarding World of Harry Potter
SM
themed area which we anticipate opening in early summer 2009 and no later than the summer of 2010, respectively. We estimate our total anticipated capital investment in The Simpsons
        Ride
TM
, which opened in May 2008, and these two unfinished attractions will range from $275.0 million to $310.0 million. This includes all capital expenditures to build these attractions except capitalized interest. This also takes into account the net present value of all license fee payments made during the initial terms of the applicable licenses, while excluding license payments made during renewal
        periods or merchandise royalties.
During the three months ended March 29, 2009
and March 28, 2008, net cash used for financing activities was
$6.6 million and $19.7 million, respectively. The amounts were
almost entirely related to distributions made to
Holdings.
Financial position
The following table summarizes key aspects in our financial position and liquidity (in thousands):
As of
March 29,
2009
December 31,
2008
Cash and cash equivalents
$
69,505
$
87,798
Unused portion of revolving credit facilities
100,000
100,000
Current portion of long-term borrowings, capital lease and financing obligations
5,810
5,822
Current portion of special fees
6,810
8,861
Total long-term obligations (1)
1,129,387
1,127,856
(1)
Long-term obligations include long-term borrowings (excluding current portions), long-term capital lease and financing obligations, and long-term deferred special fees.
21
At March 29, 2009, our total debt was $1,008.2 million, which included $499.2 million outstanding under the bonds due in April 2010 ($500.0 million, net of a remaining discount of $0.8 million) and $509.0 million outstanding under UCDP's senior secured credit facility. At March 29, 2009, we also had $169.5
million in cash and cash equivalents and unused revolving credit, consisting of $69.5
million in cash and cash equivalents and $100.0 million available under our revolving credit facilities. Our senior secured credit agreement and bonds contain certain customary limitations. We believe we were in compliance with all financial covenants as of March 29, 2009.
The April 2010
        notes
are due in 2010, while our senior secured credit agreement calls for quarterly principal installments of 0.25% with the remainder due on June 6, 2011. During 2006, we made a voluntary prepayment in the amount of $30.0 million, effectively prepaying all of the principal amounts that would have been due up until the facilities maturity date. As a result of the amendment in July 2008, the senior secured credit facility is repayable in full on
        April 1, 2010, if the April 2010 notes and
Holdings'
May 2010 notes are not refinanced or repaid in full prior to such date. It is highly unlikely that we will be able to generate enough cash to pay these balances in full prior to the specified due dates which would then necessitate refinancing our long-term debt. Furthermore, our access to capital markets and our ability to issue various securities to raise
        capital could be affected by further reductions in our bond ratings, which were downgraded in the first quarter of 2009.
Specifically, the downgrades in our bond rating could result in increased interest rates or other incremental borrowing costs when we attempt to refinance our long-term debt.
Additionally, we have an agreement (the "Consultant Agreement") with Steven Spielberg (the "Consultant") under which we pay a fee for consulting services and exclusivity equal to a percentage of our gross revenues from the attractions and certain other facilities owned or operated, in whole or in part, by us. Under the terms of the Consultant Agreement, the Consultant is also entitled to a fee based on a percentage of gross revenues of comparable projects, which
        are gated motion picture and television themed attractions owned or operated, in whole or in part, by us, or any of our partners or any of their affiliates, other than in Universal City, California. At present, the only theme park that is a comparable project is Universal Studios Japan in Osaka, Japan. It is possible that comparable projects will be created in the future that would fall under the Consultant Agreement. For instance, Vivendi Universal Entertainment has entered into
        licensing arrangements for Universal theme parks in Singapore and Dubai. The Consultant may also be entitled to participate in certain sales of equity by our partners and to participate in certain real estate development activities of our partners or their affiliates. Although the Consultant Agreement has no expiration date, starting in June 2010, the Consultant has the right, upon 90 days notice, to terminate the periodic payments under the Consultant Agreement and receive instead
        one cash payment equal to the fair market value of the Consultant's interest in the revenue streams in the Orlando parks and any comparable projects that have been open at that time for at least one year, which fair market value could be significant. If the Consultant exercises the option and the parties cannot agree on the fair market value of the buyout option, the fair market value will be determined by a binding appraisal procedure. We represented under the agreement that the
        Consultant's interest in each of our parks and in any comparable projects will have priority over the interests of all financiers, lenders and others who may have an interest in that park or project. Our obligations under the agreement are guaranteed by Universal Studios, Inc., as successor to MCA Inc., and Universal Studios, Inc.'s obligations under that guarantee have in turn been assumed by Vivendi Universal Entertainment. Vivendi Universal Entertainment has indemnified
        us against any liability under the Consultant Agreement related to any comparable project that is not owned or controlled by us. Under the terms of the May 2010 notes, the April 2010 notes and the senior secured credit agreement, a lien to secure our obligations under the Consultant Agreement would be a permitted lien. This event could adversely impact our liquidity.
We believe that funds generated from UCDP's operations and our available borrowing capacity will be adequate to fund our debt service requirements, capital expenditures and working capital requirements up to, but not including, April 1, 2010, which is the early maturity date on our senior secured credit facility. Although we believe that
        our current financial position and financing options will provide flexibility in financing activities and permit us to respond to changing conditions, we cannot assure you that our business will generate sufficient cash flow from operations or that future borrowings will be available to us under UCDP's revolving credit facility in an amount sufficient to enable us to pay our indebtedness or to fund our other liquidity needs. Our ability to continue to fund these items and continue
        to reduce debt could be adversely affected by the occurrence of unfavorable events. For more information, see
Item 1A. Risk Facotrs – Risks Related to Our Indebtedness
in our Annual Report on Form 10-K for the fiscal year ended December 31, 2008.
Special fees
Under UCDP's partnership agreement, a "special fee" is payable to Vivendi Universal Entertainment through Universal CPM. The special fee is calculated at 5% of certain gross operating revenues, as defined in the UCDP partnership agreement, generated from each of Universal Studios Florida and Universal's Islands of
        Adventure. Subsequent to our refinancings in December 2004, the most restrictive quarterly covenant for payment of the special fee is a debt to EBITDA ratio (as defined in the April 2010 notes) of 5.0 to 1.0 or less related to the current special fees and 3.75 to 1.0 or less related to the deferred special fees (as defined in the senior secured credit agreement). These ratios were met as of December 31, 2008. Accordingly, during the three months ended March 29, 2009, we paid
        fees of $8.9 million, to Vivendi Universal Entertainment. As these ratios were also met as of March 29, 2009, a payment of
$6.8
million in special fees will be made during the second quarter of 2009. At March 29, 2009 and December 31, 2008, respectively, our
consolidated
balance sheet included
$6.8
million and $8.9 million classified as current liabilities related to the current portion of the special fees payable to Vivendi Universal Entertainment.
Additionally, at March 29, 2009 and December 31, 2008, our consolidated balance sheet included
$92.7 million and $92.0 million, respectively, in long-term deferred special fees
        payable to affiliates of Vivendi Universal Entertainment.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements appearing in this report are "forward-looking statements." Forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, business trends and other
        information that is not historical information. When used in this report, the words "estimates," "expects," "anticipates," "projects," "plans," "intends," "believes," "forecasts" or future conditional verbs, such as "will," "should," "could," or "may" and variations of such words or similar expressions, are intended to identify forward-looking
        statements. All forward looking statements, including, without limitation, management's examination of historical operating trends and data, are based upon our current expectations and various assumptions. Our expectations, beliefs and projections are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs and projections will be achieved. Because these forward-looking statements
        are subject to numerous risks and uncertainties, our actual results may differ materially from those expressed in or implied by such forward-looking statements. Some of the risks and uncertainties that may cause such differences include, but are not limited to, risks and uncertainties relating to general economic downturn; the dependence of our business on air travel; the risks inherent in deriving substantially all of our revenues from one location; our dependence on Vivendi Universal
        Entertainment and its affiliates; risks related to unfavorable outcomes of our legal proceedings; the loss of key distribution channels for pass sales; competition within the Orlando theme park market; publicity associated with accidents occurring at theme parks; the loss of material intellectual property rights used in our business; the seasonality of our business; the substantial indebtedness of us and our subsidiaries; and the difficulty we may face in refinancing our indebtedness
        due to the turmoil and lack of liquidity in the credit markets and the Consultant's right to exercise his put option starting in June 2010. There may also be other factors that may cause our actual results to differ materially from those expressed in or implied by any forward-looking statements contained in this report. All forward looking statements attributable to us or persons acting on our behalf apply only as of the date of this report and are expressly qualified in their entirety
        by the cautionary statements included in this report. We undertake no obligation to update or revise forward looking statements which may be made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events, except as required by law.
22
Item 3.
Quantitative and Qualitative Disclosures About Market Risk
The following is a schedule of our fixed and variable rate debt maturities and principal payments for each of the next five years, and thereafter (in thousands, except for percentages):
2009
2010
2011
2012
2013
Total
Fair value
Debt (1):
Fixed rate debt
$
—
$
500,000
$
—
$
—
$
—
$
500,000
$
420,000
Average interest rate
n/a
11.75
%
n/a
n/a
n/a
n/a
n/a
Variable rate debt
$
—
$
—
$
509,000
$
—
$
—
$
509,000
$
460,650
Average interest rate
n/a
n/a
7.04
%
n/a
n/a
n/a
n/a
Total gross debt
$
—
$
500,000
$
509,000
$
—
$
—
$
1,009,000
$
880,650
(1)
Amounts exclude discounts and therefore represent gross maturities. The maturity date of the senior secured credit facility in the amount of $509.0 million is June 9, 2011, however, it is repayable in full at April 1, 2010, if the April 2010 and
Holdings'
May 2010 notes are not refinanced or repaid in full prior to such date.
23
The following table is a schedule of our interest rate swap agreements including notional amounts, weighted average interest rates by expected maturity dates and fair value (in thousands):
2009
2010
2011
2012
2013
Total
Fair value
Interest Rate Swaps:
Variable to Fixed
$
325,000
$
—
$
—
$
—
$
—
$
325,000
$
(6,959
)
Average pay rate
4.63
%
n/a
n/a
n/a
n/a
n/a
n/a
Average receive rate
1.74
%
n/a
n/a
n/a
n/a
n/a
n/a
Fixed to Variable
n/a
n/a
n/a
n/a
n/a
n/a
n/a
Average pay rate
n/a
n/a
n/a
n/a
n/a
n/a
n/a
Average receive rate
n/a
n/a
n/a
n/a
n/a
n/a
n/a
Total notional amounts
$
325,000
$
—
$
—
$
—
$
—
$
325,000
$
(6,959
)
We are exposed to market risks relating to fluctuations in interest rates. We may mitigate this risk by paying down additional outstanding balances on our variable rate loans, refinancing with fixed rate permanent debt or obtaining cash flow hedge instruments. As a result, we have $184.0 million of unhedged variable rate debt as of March 29,
        2009. Based on these variable-rate obligations, each 1% increase or decrease in the level of interest rates would, respectively, increase or decrease our annual interest expense and related cash payments by approximately $1.8 million.
The sensitivity analysis described above, contains certain simplifying assumptions, (for example, it assumes a constant level of variable-rate debt for all maturities and an immediate, across-the-board increase or decrease in the level of interest rates with no other subsequent changes for the remainder of the period). Therefore, although it
        gives an indication of our exposure to changes in interest rates, it is not intended to predict future results and our actual results will likely vary.
We are exposed to credit loss in the event of nonperformance by the other party to the derivative financial instruments. We limit this exposure by entering into agreements directly with a number of major financial institutions that meet our credit standards and that are expected to satisfy their obligations under the contracts.
For more information about our interest rate swaps see
Note 6
to the
consolidated
financial statements of our annual report on Form 10-K for the fiscal year ended December 31, 2008.
24
Item 4.
Controls and Procedures
Universal City
Development Partners, Ltd.
The management of Universal City
Development Partners Ltd.
( "UCDP") carried out an evaluation, with the participation of
UCDP's
Principal Executive Officer and Principal Financial
        Officer, of the effectiveness of
UCDP's
disclosure controls and procedures as of the end of the period covered by this report. Based upon that evaluation,
UCDP's
Principal Executive Officer and Principal Financial Officer concluded that
UCDP's
disclosure controls and procedures were effective to ensure that information required to be disclosed by
UCDP
in the reports that it files or submits under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the rules, regulations and forms promulgated by the Securities and Exchange Commission.
There was no change in
UCDP's
internal control over financial reporting during the quarter ended March 29, 2009 that has materially affected, or is reasonably likely to materially affect,
UCDP's
internal control over financial reporting.
UCDP
Finance, Inc.
The management of
UCDP
Finance, Inc. ("Finance") carried out an evaluation, with the participation of Finance's Principal Executive Officer and Principal Financial Officer, of the effectiveness of Finance's disclosure controls and procedures as of
        the end of the period covered by this report. Based upon that evaluation, Finance's Principal Executive Officer and Principal Financial Officer concluded that Finance's disclosure controls and procedures were effective to ensure that information required to be disclosed by Finance in the reports that it files or submits under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the rules, regulations and
        forms promulgated by the Securities and Exchange Commission.
There was no change in Finance's internal control over financial reporting during the quarter ended March 29, 2009 that has materially affected, or is reasonably likely to materially affect, Finance's internal control over financial reporting.
25
PART II — OTHER INFORMATION
Item 1.
Legal Proceedings
See
Note 8
in
Part I — Item 1
.
Financial Statements
in this document for a
        detailed description of current legal proceedings.
Item 1A.
Risk Factors
See
Part I — Item 1A
of our Annual Report on Form 10-K for the fiscal year ended December 31, 2008, for a discussion regarding some of the reasons that our actual operating results may differ materially from those that we anticipate. One of the
        risk factors previously disclosed in our Annual Report on Form 10-K for the fiscal year ended December 31, 2008 has been updated as follows:
There is the risk of accidents or other incidents occurring at theme parks, including those owned by other theme park operators, which may create negative publicity which may reduce attendance and thereby negatively impact our results of operations.
Our theme parks feature "thrill rides." There are inherent risks involved with these sorts of rides and attractions. An accident or an injury at our theme parks or at another theme park may result in negative publicity which could reduce attendance and thereby negatively impact our results of operations.
        We purchase insurance to protect us in the event of an accident or certain other losses, however we are subject to high deductibles and our insurance may not cover all types of incidents. Additionally, we can not be assured that negative events unrelated to attractions, such as the outbreak of infectious disease or other health concerns, will not occur at our theme parks or at another theme park.
Item 2.
Unregistered Sales of Equity Securities and Use of Proceeds
Not applicable.
Item 3.
Defaults upon Senior Securities
Not applicable.
Item 4.
Submission of Matters to a Vote of Security Holders
None.
Item 5.
Other Information
Peter Wallace, 34, was appointed to UCDP's Park Advisory Board and as a Blackstone representative to each of Holding I and Holding II on May 7, 2009.  Mr. Wallace is a Managing Director in the Corporate Private Equity Group at Blackstone, a position he has held since 2006.   From 2004 to 2006,
        Mr. Wallace served as a Principal with Blackstone.   Mr. Wallace currently serves on the Board of Directors of AlliedBarton Security Services, Crestwood Midstream Partners, Pelmorex Media, Inc., Michael's Stores, Inc. and The Weather Channel Companies.
Item 6.
Exhibits.
a) Exhibits
31.1
Certification of Principal Executive Officer of Universal City
Development Partners, Ltd. Pursuant to Rule 13a-14(a) or Rule 15d-14(a).
31.2
Certification of Principal Financial Officer of Universal City
Development Partners, Ltd. Pursuant to Rule 13a-14(a) or Rule 15d-14(a).
31.3
Certification of Principal Executive Officer of
UCDP
Finance, Inc. Pursuant to Rule 13a-14(a) or Rule 15d-14(a).
31.4
Certification of Principal Financial Officer of
UCDP
Finance, Inc. Pursuant to Rule 13a-14(a) or Rule 15d-14(a).
32.1
Certification of Principal Executive Officer of Universal City
Development Partners, Ltd. Pursuant to 18 U.S.C. Section 1350.
32.2
Certification of Principal Financial Officer of Universal City
Development Partners, Ltd. Pursuant to 18 U.S.C. Section 1350.
32.3
Certification of Principal Executive Officer of
UCDP
Finance, Inc. Pursuant to 18 U.S.C. Section 1350.
32.4
Certification of Principal Financial Officer of
UCDP
Finance, Inc. Pursuant to 18 U.S.C. Section 1350.
26
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrants have duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
UNIVERSAL CITY
DEVELOPMENT PARTNERS, LTD.
Date: May 8, 2009
By:
/s/ Tracey L. Stockwell
Name:
Tracey L. Stockwell
Title:
Principal Financial Officer
UCDP
FINANCE, INC.
Date: May 8, 2009
By:
/s/ Tracey L. Stockwell
Name:
Tracey L. Stockwell
Title:
Principal Financial Officer
27