Which brings me to technology. In just ten short As you can probably tell, I am very proud of what years, the art of animation has been completely revolu- we’ve accomplished, not only this past year but since tionized by technological advancement. The dazzling our inception ten years ago. More importantly though, images made possible through computer generated I’d like to assure you that past laurels are not something imagery have been completely embraced by audiences, we care to rest upon. We are a team of passionate and our technology team is totally focused on new movie makers with an energetic, always-can-do-better ways to make our movies more unique. As with our point of view. With every movie, we will work to tell creative talent, I believe we have some of the best and better stories, dazzle with more engaging visuals, dis- brightest technology professionals in the business. They tribute and market our fi lms with ever greater impact keep us at the forefront of CG animation and are an and produce them with ever more effi ciency. integral part of our success. So as we begin our second decade, I look forward With great people, we can accomplish great things, to many more celebrations for our company, our won- not only for our audiences and our DreamWorks Anima- derfully creative team and our shareholders because tion team but for our shareholders as well. We have like the DreamWorks logo that features a boy fi shing demonstrated the ability to scale the business without from the moon, we believe that the sky is the limit. sacrifi cing quality by eclipsing $1.2 billion in worldwide box offi ce in 2004 with our two releases. As a result, sincerely, we have gained operating effi ciency at our studio and set our company on a path to generate real value for our shareholders. Our IPO also allowed us to substan- tially pay down debt and build a strong balance sheet. Without a doubt, our company’s performance in 2004 Jeffrey Katzenberg, was certainly a nice start for our new public company. Chief Executive Offi cer 22-dreamworks04PR15368.indd 3-dreamworks04PR15368.indd 3 44/21/05 3:08:41 PM/21/05 3:08:41 PM