 How to treat indexicality is one of the main challenges to Fregean contents of utterances as Frege himself understood these. (See Perry 1977, Evans 1990, Burge 1991.) One of the roles of modes of presentation according to Frege was to determine reference, so that any two expressions (or occurrences thereof) with the same sense would have the same reference. Another role is to reflect cognitive significance of sentences such as “Now it is 5pm, October 1st 2005”. The occurrence of “now” and of “5pm October 1st 2005” seem to refer to the same time, yet an utterance of the sentence could be informative to someone who did not know the date and time. One and the same time seems in some intuitive sense to have different ‘modes of presentation’: one expressed by ‘now’, the other expressed by ‘5pm October 1st 2005’.