In short, global average temperatures for 2008 are expected to be cooler than 1999-2007 inclusive.
This is because of the 'La Nina' phenomenon, which causes cooler temperatures across the Pacific, and increased rainfall in Australia (which we're very thankful for!).
As such, it's part of the natural variability of the Earth's climate from year to year. It is not, I repeat, NOT an indicator that 'global warming' doesn't exist, because the long term trend is still sharply upward.
Interestingly, the article ends with this:
Experts at the UK Met Office's Hadley Centre for forecasting in Exeter said the world could expect another record temperature within five years or less, probably associated with another episode of El Nino.
I'm sure the naysayers will still pretend that this means we can continue dumping millions of tons of CO