Outdoor Designs

1820 Big Timber Drive  Seattle, Washington 98555
Phone (206) 555-3333  Fax (206) 555-3344
July 29, 2001
Dear Valued Customer:
I am pleased to send you Outdoor Designs' financial summary for the first six months of calendar year
2001. The past two quarters have been an exciting time for our business. We have added several new
products to our growing outdoor equipment line, including a high-country backpacking tent kit and several
new kite kits. Our sales representatives have established new accounts in several important areas in the
United States, and our total sales volume rose 4% between the first and second quarters. We also
experienced strong growth in every region except the Midwest, where we are currently restructuring our
operations.
I'd like to thank everyone who has helped make the first half of 2001 such a success, including the
dedicated employees at Outdoor Designs, our valued suppliers, our retail partners, and especially our
investors, who have supported us since the beginning. We look forward to a strong summer and another
record-breaking six months this year.
Sincerely,
Rebecca Singer
President
Outdoor Designs