FlightSafety has succeeded in large measure as a result of advances in computational power, speed and capacity and in improved graphics and interactivity. We've witnessed (and helped to finance) stunning technical advances over the decades, and I see no signs of that progress slowing. FlightSafety will adapt those things that offer the most promise for our customers.

The evolution of the personal computer is a case in point. Not only did we help Microsoft develop the latest version of its "Flight Simulator" program, but we are also refining ways to deliver courseware to our customers through the Internet. I anticipate this aspect of our business to grow significantly.

As for demographic changes, we want to help the young people who are still in school. They are the ones who will take over air transportation in the years ahead. To do that, FlightSafety is teaming with academic institutions to help educate and mold the first generation of aviation's second century. We have already signed an agreement with Embry-Riddle Aeronautical University in Florida to provide on-campus simulator training for its students, and I am confident that we will expand the program to include other schools and even more training in the years ahead. FlightSafety will be a part of aviation's future, I promise.

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