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and we expect increased competition from such
the Company will rely significantly on the existing management and boards of
see The Operating Company (KLC OpCo) — Licensing and
existing companies in which KULG and/or its principals are
as well as trends in the preference of working parents and
2004 and 2003"" in Appendix B. To address these issues
wages and benefits than KLC currently does as a
disposals and other releases of hazardous
existing or future properties may be discovered and may
and has not prepared separate or consolidated financial statements. The prior
taking into account all facts and circumstances. In such a
KLC OpCo's and KLC PropCo's projected results of operations for the years ended December
Management's Discussion and Analysis of KLC's Pro Forma Results of Operations
and actual results will vary from the Projections