"Please accept this flag on behalf of a grateful nation."
Some posters say he spoke longer than that. Perhaps he also provided a short explanation that the flag flew over the USS Ronald Reagan and any additional significant information.
Yes, the Captain spoke to her longer than just to formally present the flag.
He and Nancy really connected. She gazed at him like he was saying the most important thing she had ever heard. He looked at her with awe and respect.
If I had to guess, I'll bet he was telling her that they would always uphold his honor in every activity that ship ever engaged in. And probably some personal things as well.
It was a very touching exchange.
Take a look at this post.
http://www.freerepublic.com/focus/news/1152263/posts?page=17#17
And these pictures....
http://www.freerepublic.com/focus/news/1152263/posts?page=22#22