1.   Larger capital intensive firms equally benefit from the reduced levels of uncertainty surrounding their future investment plans.

2.   On balance, I believe we will see somewhat reduced North Sea activity levels over the next few years.

3.   There are also no guarantees that the reduced level of funds provided by Government will actually be spent on training.

4.   And huge equity deals like the sales of shares in Telefonica Moviles and Orange have been delayed and are likely to go forward only at reduced levels.

5.   At least some government departments may have to operate at reduced levels with stopgap funding for a second year.

6.   At the University of Ohio, researchers added GnRH to human male spleen cells and found the same reduced level of cell division.

7.   Both states switched instead to a policy of mutual deterrence, at reduced levels of strategic armaments.

8.   A recent survey of those lines by The New York Times indicated that they were not even functioning at their reduced level.

9.   A study by the Department of Energy pointed out that reduced levels of ozone could perversely harm public health by increasing the exposure of Americans to ultraviolet rays.

10.   Brown warned that reduced levels in funding for such programs are not a distant impossibility, but a near-reality.