Yahoo! has a strong track record of focusing and delivering on some of the biggest opportunities on the Internet. In 2005, Yahoo! continued to achieve significant results by providing some of the most innovative services to our hundreds of millions of consumers and deepening both our global reach and user engagement. As we look ahead, we will continue to focus on creating the best consumer experience, finding new ways to engage our audience and delivering the best value for our advertisers.

-Terry Semel

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