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Thank you for choosing Sippor. We appreciate the value of your business and look forward to
ensuring your satisfaction for years to come.
 
This year has been a year of tough decisions and strong actions for Sippor, taken against the backdrop of deplorable war. The war on Iraq slowed down our ambitious plans and destroyed our home country. Its consequences are devastating on our people in particular and on humanity in general. The sad news is that “it ain’t over till it’s over”! But the good news is that Sippor has been and will always be a builder.

There are few signs at this time of an upturn in the economy, and we expect 2003 to be another very challenging year. We will continue to face many of the same marketplace challenges experienced in 2002, including heightened geopolitical tensions.

As Sippor expands around the world, our goal is two-fold: to become a global name in the trading of goods and to help in the reconstruction of Iraq making it a better place to live. Sippor seeks to achieve that ambitious goal by focusing on innovation, operational excellence and a sharp customer focus. We will build on effective marketing and global product distribution to enhance our competitive position in all of our markets while being a transparent, responsible and ethical company.

I'd like to thank all members of the Sippor family, including our employees and our customers, for making 2002 a year of significant accomplishment in the face of continuing challenge. A strong, globally diverse management team supported by dedicated employees kept us on the path forward.

Sippor has been a major player in the sustainability and development of Iraq, and we’ve never been more optimistic about the future.

And the best is yet to come.

Sincerely,

Mazin Alamir
Chairman