The next 12 months will be unmatched in Polaroid history for number and breadth of new products coming to the market.

These products all draw on Polaroid's heritage for innovation, ease-of-use, fun and immediacy.

August retail results were up in both cameras and film. In addition, the company continues to make progress in reducing its digital imaging losses.

We remain on plan to begin rolling out a number of new products, including our instant single-use camera in the second half of 1998. We are confident that 1999 will be one of the company's strongest in recent years.

As we anticipated, the strong U.S. dollar and the Asian economic crisis had a negative impact. What we did not expect was the level of reduction in inventories at dealers in the United States and Europe.

Let me give you a bit of history. Two years ago, Andover came in here and Bam! Andover beat Kimball and shocked some people. Last year they came in here and Bam! Andover beat Kimball again. We were trying to avoid a three-peat.