(The) market in Memphis continues to be strong in the first three months of the year, with the busiest months ahead of us.

The Memphis-area housing market is growing up, getting more sophisticated. Also, there are people moving here from other parts of the country, and they realize they can get more house for their money in Memphis.

While the market continues to be weak in comparison to last year, it appears to have stabilized, which on the margin this is good news for Cisco.

Strong demand continues, and we are on plan for a good fiscal year.

My first album was completed in three months.

We delivered another strong performance in the first three months of 2006 as our average daily volume exceeded two million contracts for the second consecutive quarter. The double digit growth in our core options business fueled a 40% increase in net income once again reflecting the operating leverage that is inherent in our business. We also continued to post strong cash flow which we now share with our stockholders by virtue of the implementation of the dividend policy that we announced last year.