CME will reports its FY2005 numbers tomorrow before the US market open, i.e. before 3.30pm CET and hosts a conference call to the results at 4.00pm CET; dial in: +1 973 582 2734. We expect the company to show a strong sales growth driven by consolidation of TV Nova and significant organic growth in Ukraine, Romania and Croatia. We expect all stations to improve their operating margin while CME’s Croatian subsidiary should still show a negative EBITDA. We expect the consolidated EBITDA margin to expend to 32% from 30% a year ago. Should TV Nova be consolidated through the whole year, EBITDA margin would stand at 38%. Net income should show a growth of 53% y/y despite an impairment charge of USD35m booked in the 2Q05 related to the revaluation of Croatian subsidiary. In the FY2005 results we would watch for a potential impact of a flop of Big Brother at TV Nova and a success of a similar reality show at a rival private channel TV Prima in the Czech Republic, which led to audience share erosion in the 2H05. In the conference call we would be looking for an information regarding the potential impact of lower rating in the Czech Republic on TV Nova’s ability to sell its ad and its pricing, also in the light of MTG’s entry into TV Prima, which should change the competitive landscape.