i letter to shareholders 3 ii company highlights 6 1 profile 7 2 organization 9 capital and shares 16 4 issuance of corporate bonds 20 5 preferred 22 depository receipt employee stock options 8 merge acquisition or given new other companies23 iii operational 25 business activities 26 market sales overview 36 information 41 environmental protection expenditure relations 42 major contracts 43 lawsuits disputes 45 asset acquisitions dispositions 47 iv fund utilization plans status 48 plan 49 implementation v financial 50 condensed statement for the past years 51 analysis recent 52 2003 supervisors report 54 independent auditors statements notes 55 consolidated 85 condition impact affiliates 116 forecast achievements in 2002 117 vi review operating performanceand risk management 118 119 performance 120 cash
