SOEreetings — 1993 looks to be another exciting ear at Cannondale The neve several months will see the introduction of many innovative new products: the ulra-efficient, ulerarlight Super V (“vee”) suspension mountain bike, Bc 17.5 1 tack bike, a lighnweighe offroad tandem and Pee Maen Ben a new line of high-performance Team Isue cycling apparel. Details om these and other new products appear throughout the following pages. We thant you for your continued support. With your help, we've come a long way from cour beginnings in that loft above she pickle factory at the Cannondale train station. Our and-buile products are now exported t0 some 41 countries on five continents, We operate two manufacturing facilities in Pennsyloania, three RED offices (including a “skunk works” in Ketchum, Idaho) and subsidiaries in Europe and Japan. Yet we remain a small company at heart, clinging tenaciously to the belief that have fostered cour growth through more shan 20 years. These qualities are perhaps best anvculated in our corporate philosophy: THE CANNONDALE PHILOSOPHY (Qur PASSION isto be the best bicycling company in the world, We will succeed because: 1. We care about our customers, vendors and each other. 2. We produce a stream of innovative products. 3. We devise flexible manufacturing processes that enable us to deliver those differentiated products to the market quickly, 4, We limit our distribution tothe best icyele rales in the word 5. We continuously improve everything. 6. We concentrate on detail, because the last 5% is often the difference between success and failure. 7. We govern our every deed by what is just and tight. Again, thank you for your support. Best wishes for wonderful eeling in 1993, Sincerely, Se Jee Sto Dionigi 80 fe. peered cee Brae Ha Founder and President eto ak iy ih, Pb el Palo