We still expect a much improved result for 2006. We don't find anything in the release itself that should change people's views about 2006 prospects.

No change to target price or basic fundamental assumptions, but share price weakness has materially improved the risk-reward tradeoff in the shares.

To remain young one must change. The perpetual campus hero is not a young man but an old boy.

That's been my whole life, and I'm not going to change, ... There've been a lot of problems solved in that dining room over a bowl of gumbo. There will be a lot more.

To remain young one must change.

Given the combination of recent share price weakness, especially in relative context, and slightly increased revenue assumptions, we see improvement in the risk-reward equation for LCC.