| As we complete the third quarter of 2005, now is an excellent time to cull our portfolios in preparation for the final three months of 2005. In consequence, we are examining each individual security in our four ABC portfolios and are reviewing our disciplined buy and sell targets for each holding. As a result we have started to liquidate those securities which are at or near our price targets. In effect, we are "fall cleaning" our ABC portfolios in anticipation of acquiring attractive new holdings over the next 4-8 weeks.
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