| WE THANK YOU FOR ANOTHER GREAT YEAR As we enter this week of Holiday celebration with friends and family and as the year comes to an end, we want to thank you for another fantastic year. 2011 was an exciting year not only in sales growth but in new areas. The first Lighthouse Ladies fishing tournament was received way past our most upbeat expectations, our organized trips to the Bahamas drew so much interest that we decided to start a travel division for 2012. We added successful new talent such as the Diossy Brothers with the new look of the Avernos and Ofishulz collection to our apparel offerings. It was also a year of partnerships. Our partnership with the US Catfish Association resulted in the creation of RenegadeTackle.com, a highly popular e-commerce site serving this huge freshwater market. Our new partnership with marine artist Carey Chen is exciting and promises to be quite rewarding. This coming year promises to be even better. We are expanding our services to offer exclusive products by Carey Chen, including his new jewelry collection and one-stop tournament marketing services. With our new travel division you will be able to book exciting fishing vacations to the Bahamas, Guatemala, Panama and many other popular destinations at discounted prices. If you are visiting Florida, you will be able to book charters with our selected captains. At our store, look for our new bait department to open in early Spring. In addition to the second Lighthouse Ladies Fishing Tournament, we also have a new early Summer tournament appropriately named the 'Cinco de Mayo'; one of the richest tournaments in the area with a $ 100,000 top prize. And of course, we will continue to promote new products that offer value and quality to our customers. In closing, we want you to know that we treasure your patronage and friendship. We are grateful for it and thank you for helping us grow. May you and your family enjoy a great Holiday Season and a Prosperous New Year. The StingRay Family | 
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