Cautionary Notice with Respect to Forward- Looking Statements CONTENTS 2003 Revenues (Dollars in millions) 2003 Revenue Sour ces Mill Services - $827.5; 39% Access Services - $619.1; 29% Gas & Fluid Contr ol - $335.1; 16% Other Infrastructur e Pr oducts & Services - $336.8; 16% United States - 43% Eur ope - 41% Latin America - 5% Asia-Pacific - 4% Other - 7% The forward-looking statements expressed or implied in this report are based on current expectations regarding important factors which, among others, could cause future results to differ materially. Please refer to the section entitled "Forward-Looking Statements" under Item 7 of the enclosed Form 10-K Annual Report for further information. Financial Highlights 1 Report to Stockholders 2 Mill Services 4 Access Services 5 Track Services 6 Engineered Products 7 Corporate Governance 8 Directors and Officers 10 Principal Offices 11 Glossary of Financial Terms 12 Form 10-K Annual Report 13 Investor Information Inside Back Cover HARSCO CORPORA TION H arsco Corporation is a diversified, worldwide company pr oviding high-value industrial services and engineer ed pr oducts to major global industries. The Company's businesses ar e each market leaders, organized in four market sectors. Over 70% of Harsco's r evenues ar e generated fr om industrial services, while nearly 60% ar e generated inter nationally . Harsco's mission is to achieve consistent, superior financial r etur ns fr om operations, and the cr eation of stockholder value thr ough the use of an Economic Va l u e A d d e d ( E VA ® ) model which emphasizes asset use optimization and pr ofit maximization. Harsco targets its gr owth in markets and technologies familiar to the Company . Harsco common stock is listed on the New Y ork and Pacific Stock Exchanges under the symbol HSC.