Our strategy for  MORE great years Innovation and Education Investment and Expansion Integration Building on our leadership in Minimally Invasive Solutions Procedures and surgical skills transfer at the Zimmer Institute and  its affiliates Building on our leadership in research and development, particularly in orthobiologics, and our expansion into spine products Building on our global presence and scale advantage in manufacturing and sales through effective integration of the Centerpulse acquisition In 2003, Zimmer became the #1 pure- play orthopaedics company in the world with the acquisition of Centerpulse. Zimmer solidified its leadership position in  Minimally Invasive Solutions $^{TM}$(MIS $^{TM}$) Procedures and Instrumentation , outpaced the industry in sales growth as the global leader in reconstructive orthopaedics, and delivered outstanding returns to Zimmer shareholders. Your business  continues to be driven by the needs of  a “new patient” who is more active,  more knowledgeable, and living longer. RAY ELLIOTT Chairman, President and  Chief Executive Officer