Individually and as a team, they are exceptionally well prepared to grow our brands and businesses,

During the third quarter, particularly strong results in our tobacco businesses were partially offset by continuing challenges at Kraft.

We're still a good team. I just think they're exceptionally good.

We haven't done that well overall as a team, but individually we've done very well, I see the team growing and getting better.

Circumstances affecting some of PMI's key markets, most notably Spain, dictate a cautious earnings outlook this early in the year.

Overall, we achieved solid results in 2005, with strong income growth in our tobacco businesses partially offset by weaker results in food.