S. Hughes Patent Quotations

Our team executed very well in overcoming many of the challenges we faced entering the third quarter. With outstanding progress on patent license renewals and broader customer engagements, we have solid momentum for revenue growth as we finish out the year.

We are pleased with the results for the fourth quarter. We achieved record revenue and finished the year by signing an important patent licensing agreement with AMD for which payments will begin in 2006.

The license of our patent portfolio with AMD's demonstrated innovation in the microprocessor market is highly compelling.