This company has made substantial progress in the last few years in controlling costs and improving production and customer service. Building upon the low cost structure, Revlon will focus on accelerated growth through a combination of great marketing and delivering on its commitment to stronger retail trade partnerships.

Market conditions continue to be challenging, but we are making good progress with our 'customer first' approach comprising new service offerings, easy-to-understand price plans, Japan-centric handsets and further 3G coverage expansion.

Market conditions continue to be challenging, but we are making good progress with our 'customer first' approach comprising new service offerings, easy-to-understand price plans, Japan-centric handsets and further 3G coverage expansion,

This is a company in turnaround mode, but we would have liked to have seen more progress. There wasn't anything that even hinted at a major rebound.

I am very proud of the progress the Company has made both operationally and financially over the last several years. We began 2006 with positive momentum and very solid results. We continue to make excellent progress in strengthening our capital structure, paying off debt, growing earnings and most importantly, growing cash flow.

This is an important development for the company as we progress to producing iron ore from this historic mine.