Long - Term Debt Reduction

55.6%

55%

Falcon Acquisition

$1,711

$1,669

47%- 48%

$1,575-$1,600

12/31/02

6/30/03

12/31/03 E

Significant Progress Made in Debt Reduction

(% Debt-to-Book)

($ Millions)

3/31/03

54.7%

$1,655

$1,768

$1,621

48.6%

9/30/03

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