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We have decided to take a more serious look at our Corporate Social Investment (CSI) philosophy and approach. In order to achieve a higher standard of corporate citizenship, and to have a positive net impact on society, we have reviewed our range of practices, and are adopting a new value system of good corporate citizenship comprising “best practice” principles. During the year we spent time on policy development, the selection of key focus areas, and a review of how our CSI programmed compares with its peers and “best practices” in the world.

A CSI definition was adopted that reads:

Corporate Social Investment is the continuing commitment by business to behave ethically and contribute to economic development, while improving the quality of life of the workforce and their families, as well as of the local community and society at large.” In terms of our value system, CSI needs to be re-positioned within the Company, as well as the strategic role it plays in portraying World Media Telecom as a good corporate citizen. To this end, it is imperative that our CSI programmed is aligned to our Vision and Mission that it advocates a balanced “win-win” approach of corporate giving, and that community involvement is treated as a professional management function like any other management activity. It is our strategic intention to demonstrate firm commitment to CSI, and to do more planning in developing goals and CSI strategies as we do for other areas of importance in our business.

Acknowledgement

I am deeply indebted to the staff of World Media Telecom. As a team, we have no greater asset. Without their depth and breadth of technological and management expertise, it would not have been possible to attain such solid performance and high customer satisfaction levels. My gratitude also goes to my fellow Board members for their support, guidance and encouragement during the day-to-day management of our Company. Our thanks are also extended to our Shareholder, customers, partners and suppliers, for the confidence they place in us. This has once again been rewarded with strong performance and we will continue to give our best to warrant your trust. We look forward to meeting new challenges in the future, and to capitalize on the wealth of opportunities available to us.

Investor Contacts

Corporate Headquarters
World Media Telecom
244 5th Avenue suite B243
New York, NY 10001

Transfer Agent & Registrar
American Stock Transfer & Trust Company
59 Maiden Lane
New York, NY 10038

Independent Accountants
Watson Associates, LLP
New York, New York

Legal Counsel
Bryan Cave LLP
New York, New York

Annual Meeting

The Annual Meeting of the Stockholders date and location to be announced.

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