As a matter of fact, CIRI is poised to enter a new era, and I'd like to discuss some of our goals for the future. Before I discuss our next phase, however, I am pleased to report to you that CIRI had a very profitable 2000. This is by far the largest year of growth in the company's history. We have had extraordinary success with most of our businesses and have been able to capitalize on them.

This good news comes as a result of all the strategizing, planning, hard work and yes, even luck, over the last 10 years. In order to make our unprecedented distribution to shareholders, we reduced our equity and the overall size of CIRI in anticipation of selling VoiceStream stock.

And this leads us to our plans for the future. We are gearing up for a new phase and we have hit the ground running. The CIRI Board of Directors has made some key organizational changes within their structure. I, too, have made some key changes in the company's management structure in order to clarify responsibilities among our team members to better focus on our future growth. Key changes include:

Mark Kroloff has been promoted to chief operating officer of CIRI. In this role, Mark will be responsible for all of CIRI's operating lines of business including telecommunications, real estate, tourism, and our limited partner investments. Mark will continue to head up the team pursuing new business development for CIRI.

Barbara Donatelli, as executive vice president, will continue as the company's chief administrative officer responsible for shareholder relations, public and corporate relations, MIS, human resources and accounting, finance and related functions. Barbara will also assume responsibility for the company's legal services, insurance and legislative and government relations.

Craig Floerchinger will assume the title of chief financial officer for CIRI. Craig will continue to work together with Barbara, Mark and me on the general oversight of the company.

Keith Sanders has been promoted to general counsel for CIRI and will assume day-to-day responsibility of the legal, insurance and risk management functions.

As for the board, we're pleased that Dr. Terry Simpson has been selected as the new chairman. His experience leading CIRI's finance and investment committee and his ongoing commitment to CIRI shareholders and Native Americans will serve us all well.

As we head into our annual meetings, I hope we can all make it our goal to rise above any pettiness, leave the politics behind and not let others put us down. CIRI is a huge and successful company now, and it's critical that we have knowledgeable people leading us. Although our next board slate has not yet been announced, I have the utmost confidence in our nominating committee.

I ask that every shareholder put a serious thought into voting and consider just how critical our board is to our success. We need knowledgeable people who bring strong business skills to their positions. And it is the majority of the Board of Directors that puts forward a board-endorsed slate of candidates who they believe will work toward the best interests of the corporation and its shareholders. The board knows who will make the best team and be able to work together toward the common goals that the majority of the board has set forth for continued growth.

My goal is that our next phase will be even more successful than our last 10 years. My hope is that we'll be able to duplicate our unprecedented distribution within the next decade. My goal is that we'll all work together, each member of our team doing his or her best to improve the lives of each and every shareholder.

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