All of us at SITEX would like to wish you a Happy New Year, and we offer sincere good wishes for a prosperous 2012 and beyond. The past few years have certainly brought most of our businesses unwelcomed surprises, changes, and challenges in many areas. Although economic conditions have improved somewhat, and we are optimistic that further improvements are around the corner, we are still cautious that these economic improvements may be fairly slow to come.

Supply inventories in the garment, linen, and textile business are tighter than we have ever seen, and sourcing has become very much a global situation over the past several years. However, we remain committed to aligning our company with strong, proven suppliers who are focused on our industry. During the second half of 2011, we saw some improvements in supply although pricing is still pretty volatile. As a result, we are making adjustments in our buying patterns and the levels of inventory we keep on hand in order to continue to provide you with quality products and the level of customer service that you desire.

Thanks to your patronage and support, and the hard work and dedication of our SITEX Team Members we ended 2011, our 50th year in business, with modest growth and customer satisfaction levels among the highest in our industry. We are thankful for the business partnerships and relationships we share with you and look forward to supplying your needs well into the future.

Yours truly,