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Where did the year go? We came into 2004 with expectations that the market would improve. While there was some improvement in the number and variety of projects for bid, prices remained extremely competitive. Nevertheless, we were successful on many projects, requiring overtime to meet tight commitments.

The rise in value of the Canadian dollar against U.S. currency in recent years has severely impacted the edge we held over our U.S. competitors. We will be increasing access to training programs on our intranet, and will be developing additional training programs specifically for Project Leaders, in an effort to continue to improve productivity.

We have acquired eighty (80) new dual, flat-screen monitors and high-speed computers, and upgraded our servers. We are moving into 2005 confident that we will be in an excellent position to provide better service to our clients.

We are pleased to welcome Mr. Eric Lee and his staff from Total Structural Detailing (TSD) in Toronto, who are joining Dowco. (See article on Eric Lee and TSD in this issue of Details.)

2005 will bring many of the same challenges we saw in 2004, but I believe we are better equipped to meet them. We have a well-trained staff with the best and latest in equipment and software, and 2005 should shape up to be one of the most interesting ever in our 35 year history.

At this time, my wife Susan and I would like to express our thanks to our staff and clients for their support in 2004. We wish you and your families the joys of Christmas and the Holiday Season, and a prosperous, healthy, happy New Year.

Hugh & Susan Dobbie