Our Employees Are the Backbone of Brown & Brown Rather than reviewing our 2001 results and expounding on the successes of the various divisions – that information can be found in other parts of this report – I want to talk about why I feel Brown & Brown is “An American Dream that is Built to Last.” We have achieved our success, growth and optimism for the future because of our people and the culture that has emerged due to their strong will and dedication. This heritage is the result of a shared dream – actually a very simple dream, but one that requires constant assiduous nurturing. That dream is to be able to provide the very best for our customers, our investors and our families. Approximately 34% of Brown & Brown’s stock is owned by employees. If you believe in this dream and constantly strive to make it a reality, then you have an American Dream that is built to last. Last year this report focused on our six Regional Executive Vice Presidents, whose areas of responsibility generate 90% of our income. As our regions continue to expand, it is our intent to clone and propagate our “Florida Model” countrywide. Toward that end, the July and October Executive Committee meetings are now held “in the regions” with participation of many of the key regional and national risk bearers, as well as an intense focus on state and regional opportunities. As this “cloning process” matures, pre-tax margins should attain the same lofty levels achieved in our Florida base. This year we are highlighting some of the individuals who drive the very heart of our dream – our top salespeople. This report contains photos and brief captions on the achievements of but a few of the many exceptional men and women who strive to constantly grow our company. I am also pleased to tell you that we were again named to Forbes magazine’s annual list of 200 Best Small Companies in America, and for the year 2001 we were ranked 57th, up from 93rd in 2000. Again, I salute the people who comprise our team; they are the ones who deserve all the credit for our again earning this prestigious recognition. And they are also the ones we all need to thank for the excellent growth in our stock price and overall health and standing of our company. A February 25, 2002 Wall Street Journal article titled “Performance of 1,000 Major U.S. Companies...” further recognized our success at fulfilling the American Dream. Within the Insurance, Property & Casualty category Brown & Brown was shown to have the best investor rate of return for the past year, over the last five years and over the last 10 years. The return percentages shown were 57.1%, 45.7% and 31.9% respectively, while the average presented for the 32 companies in this category was 1.8%, 14.7% and 16.7%.