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Investors Group
Review of Segment Operating Results

Introduction

Investors Group's earnings from operations before interest and taxes for the year ended December 31, 2004 compared with 2003 are presented in Table 5.

Table 5: Operating Results - Investors Group
Review of the Business
- Introduction
- Segment Strategy
- Core Business: Consultants
- Core Business: Products & Services
Review of Segment Operating Results
- Introduction
- Fee Income
- Net Investment Income & Other
- Operating Expenses