Partnering with a team from TOTAL  Oil & Gas - Indonesia, a team of General  Monitors associates conducted an  on-site trial of the Gassonic Ultrasonic Gas  Leak Detector to ensure their network  of unmanned wellhead facilities in the  shallow waters near the city of Balikpapan  are properly monitored for gas leaks.  Balikpapan is a seaport city on the eastern  coast of the island of Borneo, Indonesia, a resource-rich region well known for its timber, mining and petroleum export products. As you may recall, in my letter in last year’s annual report, I referred to 2010 as “The Year of General Monitors” – a year in which we made the largest acquisition in our  company’s long history. Clearly, with the integration of our  two companies now complete, combining the capabilities  and resources of MSA and General Monitors has now  established us as the global leader in Fixed Gas and Flame  Detection (FGFD) technology. In short, our FGFD line has become one of our hottest and  most active Core Product areas. For instance, in 2011, the  General Monitors’ product line achieved the highest sales  in its 50-year history, with revenues exceeding $86 million,  besting its prior sales record by almost 15 percent. Further,  the profit contribution of those sales exceeded our most  optimistic expectations.  Those sales and profits are driven by strategy and innovation.  Working together, MSA and General Monitors launched six cross-branded product platforms in 2011, including the GM PA4000/MSA Chemgard® instrument and the MSA  Flamegard® 5 Flame Detection System. Cross-branded  products are the products one company has that e ff ectively  meet an unmet need within the distribution channel of the  other. Very simply, they represent an e ffi cient way for MSA  and our customers to quickly benefit from the synergies of our two organizations.  While no one has a crystal ball, I am cautiously optimistic that 2012 will be another strong year for MSA. While there are  many market influences outside of our control, I believe MSA  is well positioned for the future. By following our Corporate Strategy, we are focusing on our  strongest products, we are lowering our operating costs,  we are working hard in profitable new markets, and, overall,  we are taking the actions I believe will continue to lead to  success for MSA. In closing, I’d like to thank each of our more than 5,300  associates around the world, our Board of Directors and our  Executive Leadership Team for the outstanding e ff orts that  helped make this a record year for MSA. I’d like to thank our  shareholders for your continuing confidence in our company. And lastly, I want to thank our growing ranks of distributors  and customers around the world for “choosing to purchase”  MSA and for placing their trust in our hands. It’s a  responsibility we take very seriously, and one we will work  hard to earn each and every day throughout the coming year, and long beyond. Sincerely, William M. Lambert  President and Chief Executive O ffi cer MSA 2011 ANNUAL REPORT 5 The year after “The Year of General Monitors” Well positioned for a great 2012