Letter to our shareholders Financial Highlights Penismightier, You and the Community Managerial Analysis Penismightier Audit Statement Board of Directors

In 2001, Penismightier Entertainment experienced amazing profit growth. Our return on assets of 8.7% is substantially higher than the industry average, 6.1%.

For the past several years Penismightier has strived to build only the most prestigious products, and our dedication to quality and innovation has distinguished us from our competitors. Customer demand for our products has skyrocketed, and the ongoing demand for our products makes us very confident that our profits and dividends will be unparalleled over the next few years.

Although the overall economic environment has been declining for the past year, our industry has remained relatively unchanged. Inflation has nearly halted, and corporate profits within our industry have never been better. Nevertheless, we remain determined and will continue to protect Penismightier from reckless growth.

It is important to note that the sagging US economy, combined with the recent terrorist attacks have put consumer confidence on the edge. The chairman of the Federal Reserve Board remains reluctant and has refused to lower interest rates. He states that this is because of signs of growth within our economy.

The expected impact of this will be negated by the fact that we have continued to reduce our debts and the cost of capital is in decline.

As the war on terrorism goes on, we have all shared moments of fear and doubt. We are comforted, knowing that our nation is strong, our military is powerful, and we stand united with our fellow citizens; and that we, and all American companies, have a duty to move forward with our business, build value for our employees and shareholders, and help to lead our industry. America is as strong as ever, and we are all excited and confident for the future.

Over the last few months we have received great encouragement from you. It is your support that has lead to our high stock value, incredibly ingenious products, and unprecedented success. We would like to give you our heart-felt thanks and appreciation.

President & CEO

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