In addition to the items above, pro forma OCF for the full year will also be impacted by SBCE
of approximately GBP 10 million, reflecting options and restricted stock awarded to the enhanced management team and approximately GBP 13 million due to a reduction in the amount of capitalized overhead attributable to capital projects.
Included in SG&A for the three months ended December 31, 2004 is SBCE of GBP 3 million.
SG&A excluding SBCE and financial restructuring charges was GBP 111 million, a decrease of GBP 1 million or 1% compared to the same period in 2003, despite the increased customer acquisition activity.
Included in SG&A for the three months ended September 30, 2004 is SBCE of GBP 3 million.
Included in SG&A for the nine months ended September 30, 2004 is SBCE of GBP 3 million.
2) Shared Services consists of two components: services and stock based compensation expense (which excludes SBCE in connection with performance related bonus plans amounting to GBP 0.
The SBCE component represents all SBCE for the group with the exception of that in connection with performance related bonus plans which is charged to the individual divisions (including Shared Services).
The SBCE component of Shared Services increased in Q3 2004 over Q3 2003 following the approval of the stock awards plan at our annual meeting of shareholders in May 2004.