Hi this is Glenn. On Tuesday evening, we confirmed that Ted would be the name of our new low-fare operation.

The excitement and the speculation generated around Ted over the last two weeks in Denver created tremendous media attention. In fact, visits to meetted.com surpassed the million mark yesterday.

The campaign around Ted is a perfect example of what we're talking about when we say that United is going to re-engage customers with bold and creative marketing and sales initiatives.

The very unconventional approach we took to launching United's first major product in years sent a very strong message to customers throughout the Denver market. It demonstrated the kind of fresh thinking and rigorous implementation that are going to help position us to win in this very competitive marketplace.

I want to personally congratulate everybody across the company who worked so hard and creatively to bring Ted to life as part of the United family.

Just as important, as Ted becomes a reality we are one step closer to putting into place the fourth essential component of our product portfolio.

The low-fare operation will be fully integrated into our network. Ted will feed and it will strengthen the United mainline, United Express and the Star Alliance. And it will enhance our most compelling value proposition -- the ability through our network to provide a consistently superior and seamless travel experience for passengers all around the globe.

Certainly, the United mainline remains our core product. By the end of 2004, Ted will represent approximately 10 percent of United's flying.

However, Ted will enable us to meet customer demand for low fares in predominantly leisure markets -- in a way that creates more revenue opportunity in those markets.

Ted is supported by a profitable and a sustainable business plan, with higher aircraft utilization, simplified schedule and fare structure, and more seats available per aircraft.

Ultimately, from the moment tickets go on sale November 18th, Ted's success is going to depend on two very important things -- one, passenger response to the experience we provide for them, and two, it will depend on rigorous, flawless execution.

Keep the energy up, keep your heads up, and stay United, and I'll be talking with you soon.