1. DTV Policy and Regulation Todd Gray, Dow Lohnes & Albertson Doug Lung, NBC/Telemundo

2. When is the End of the Process? > Current Law: 12/31/06 except for areas not achieving 85% digital receiver penetration > Politics (Revisiting ’96 Act): > Barton – firm date 2006 > Stevens – hard deadline not necessary > Martin – more flexible than previous chairman

3. What is the Process of the End? > Freeze > Channel Elections/Final Table > City Grade Requirement change > Replication/Maximization > End of Transition > Ultimate Build-out Obligation

4. What did we Learn from First Round Channel Elections? > Three strong preferences > Elections favored using high Vs where possible > Existing DTVs over returning to analog channels > Keeping options open (via selection of low Vs) > Process very largely completed -- at least 92% of selections are now fixed

6. What are your channel allocation options? > Negotiated channel arrangements > For the “lucky” few who are still in the game-- look around in Rounds 2 and 3 > For all others – wait and see

7. Where are we on the Nuts and Bolts? > Simulcasting/Minimum DTV schedule > EAS > Closed Captioning > PSIP > V-Chip > Translators

8. Creative Options for DTV Rollout? > Flash Cuts > Early Surrender of Analog > DTS

9. MVPD Carriage of DTV Signals? > Cable > Satellite DBS

10. Q&A Doug Lung -- dlung@transmitter.com Todd Gray -- tgray@dowlohnes.com