31.   One longtime observer says that the recent dramatic changes reflect years of organic growth.

32.   Officials said that SBC ended its yearlong promotion and that the change reflected the cost of rolling out the technology.

33.   One person close to Morgan Stanley said the midyear changes reflected some tensions within the executive suite as well as a desire to focus more on Europe.

34.   Over time the list has grown and the changes have reflected changes in the economy.

35.   Scholars say the changes reflect a general demographic shift in the last decade or so within many Asian-American communities.

36.   Such a change reflects the Libertarian view that property owners should have more freedom.

37.   Still, the changes so far reflect a significant shift by the Republican majority.

38.   Tastes may change, the sociologist says, but the changes reflect preferences for novelty, conformity and divergence.

39.   That change reflects not only the surge in demand for credit, but the shift away from reliance on the World Bank and IMF for loans to private lenders.

40.   That change would better reflect the latest scientific understanding of the health risks posed by ozone, an irritant gas that is a main component of smog.