Due to developments here it seems a natural move.

Hard Rock's 35th anniversary promises to be one of the top global promotions of the summer. Our celebration will reach millions of fans around the world through the Hard Rock Ambassadors of Rock Tour. We are thrilled to kick off the tour with The Who and Roger Waters -- two legends that have helped shape Hard Rock's history.

Hard Rock Cafe's like-for-like sales continue to improve and this was supported by exceptional performance in the hotel and casino division with revenue continuing to exceed projections. In 2005, we also successfully relocated our New York cafe from 57th Street to our new flagship location at the Paramount Theatre in Times Square. As we look forward to 2006, we will be commemorating our 35th anniversary with a global music celebration. We are also already engaged in a number of exciting new projects, including the opening of Hard Rock Hotel Madrid, the first Hard Rock Hotel in Europe.

This is a unique and exciting venture for Hard Rock. In both the Hard Rock Park and Hotel we will be working with some of rock's legendary artists to create a unique entertainment venue.

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