Bill's knowledge of the industry will be of great value as we work toward a smooth transition of PacifiCorp into the MidAmerican organization. Bill has been an outstanding leader for Nebraska Public Power District.

We are pleased to have completed the regulatory approval process in just 10 months from the date the transaction was announced May 24, 2005. We appreciate the thorough and efficient review of the transaction by regulatory officials and parties to the proceedings in each state.

We are pleased to have received approval of the transaction in all six states served by PacifiCorp. We remain on schedule to close the transaction by the end of the first quarter.

We are pleased to receive approval of the transaction in Idaho and appreciate the efforts of the commission and all parties to the proceeding working together to reach an agreement that is fair and equitable to all stakeholders.

We are pleased that utility commissions in Wyoming and Utah have approved the transaction. We appreciate the efforts of all parties to the proceedings working together to reach agreements that are fair and equitable to all stakeholders.

The new organization will further enhance the regional identity of our electric distribution businesses and provide a greater focus on the electric generation business. The leaders of these business units bring a high level of knowledge and experience to their new positions with the common objective to deliver outstanding service to their customers.