The 30th Annual Meeting of Shareholders is scheduled for Saturday, June 7, 2003, beginning at 10 a.m. at the Central Peninsula Sports Center in Soldotna, Alaska. Shareholders will have the opportunity to elect five directors; vote on a binding resolution to establish an irrevocable Elders’ Settlement Trust; and vote on advisory resolutions regarding a special dividend. Information detailing both the binding and advisory resolutions was mailed to shareholders, along with a revised CIRI proxy, on April 18. It is very important that shareholders voice their opinion on these important issues. Even if a shareholder has already given a proxy, he/she is urged to sign and date the revised proxy and return it to CIRI as soon as possible.

One of the most important responsibilities of being a CIRI shareholder is to select well-qualified shareholders to serve on the CIRI Board of Directors to oversee the direction of the company. The CIRI Board has endorsed five candidates based on their business experience, leadership ability, and their support of a strong, stable CIRI. This slate includes experienced board members who have seen CIRI through some of its most successful times, as well as smart, capable new faces representing the next generation of CIRI leaders. This year’s Board-endorsed slate includes Karen Caindec, Gosta Dagg, Bart Garber, Bill Prosser, and Clare Swan.

CIRI has flourished over the years with a Board of Directors that has been relatively stable and free of politics. The company’s success has been based in large part upon CIRI’s relationships with shareholders, CIRI employees, partners, vendors, banking institutions, and the community as a whole. Over the years the company has worked hard to build these relationships, which, in turn, have contributed to attracting and retaining high-quality management, obtaining expert partners, and securing outstanding business and financial relationships.

Now it is the responsibility of the corporation’s shareholders to make some important decisions and vote for Board members who are qualified, knowledgeable, and committed to building these relationships, and continuing the growth of the company.Registration for the annual meeting begins at 9 a.m., and all voting shareholders must register by 1 p.m. to vote in person at the meeting. While only shareholders with voting stock of record as of April 11, 2003, are entitled to vote at the meeting, immediate family members and non-voting shareholders are invited to attend.

Whether or not a shareholder is planning to attend the Annual Meeting in person, he/she is encouraged to sign, date, and return a CIRI proxy. It is important that as many shareholders as possible be represented at the meeting. Shareholders attending the meeting and planning to vote in person may do so even though they may have previously mailed in a proxy.