I am very hopeful the financial community is beginning to understand what MGM is all about,

Eleven films will be in the can, ... I don't think we'll have a blip on the radar screen.

To report $44 million of EBITDA and $27 million of net income, with only one minor theatrical release during the quarter, says a lot about the new MGM,

This restructuring will make MGM a much stronger and effective competitor, resulting in cost savings and revenue enhancements that will far exceed the related charges,

We have more strategic alternatives available to us than we realized, and we need more time to properly explore all our alternatives,

That creates a tremendous opportunity for us to start again at the beginning of the growth cycle.

Our release schedule for the balance of this year holds great promise, and our home video and television distribution operations continue to generate stronger than expected revenue and cash flow.

We remain confident of our growth outlook for the second half of 2001 and all of 2002.