The year 2000 was an important year for Cummins. We took action to address the short-term financial issues facing us, worked to strengthen our growth businesses and established a new vision and mission which resulted in changing our name to Cummins Inc. to reflect the true nature of the company. These actions, combined with a focus on our strengths over the long term, mean that we are well poised to deliver on our promise to perform for all our stakeholders in 2001 and beyond. Tim Solso Chairman and Chief Executive Officer Cummins Inc. February 28, 2001 5 Members of the Policy  Committee: (from left to right)  John Wall, Christine Vujovich,  Rick Mills, Jack Edwards,  Tim Solso, Jean Blackwell,  Joe Loughrey, Tom Linebarger, Mark Gerstle, Frank McDonald