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Chairman's Statement

The year 2007 was a strategically important period for Vision International People Group Public Limited. Having demonstrated persuasive growth in the previous years, the Company saw 2007 as a timely pit-stop to prepare itself for the race along the next cycle of development, while preserving the previously attained high levels of performance.

Thus, throughout the whole year Vision was gradually expanding in terms of its product range and geographical presence, at the same time investing much effort in a process of unprejudiced self-appraisal. The latter took the form of a series of research programmes aimed at both the environment in which the Company operates, and business processes that unfold within.

As the key result of such analyses, there has been shaped a clear and well-grounded understanding that the Company – as well as the rest of the industry – is now on the threshold of a new era – full of new challenges as well as new opportunities called into being by today’s volatile market forces and shifting social context.

One such challenge proved to be of paramount importance. The old adage that goes that Customer Is King has never been more relevant to the Company’s business than it is today, and even the more so – tomorrow. However subtle the difference may seem, yesterday this adage had more of a prescriptive flavour, whereas today it sounds more like a final warning. Indeed, Customer Is King.

This, on the one hand, presents a challenge, as it requires Vision to develop and follow an ever more client-oriented strategy. On the other hand, it is an amazing chance for Vision to deploy in full such of its key competences as building social networks and helping other people improve the quality of their lives.

Therefore, the principal outcome of 2007 was that the Company managed to keep its KPIs in place and, at the same time, performed a profound overhaul of its strategies, its tactics, and its environment so that to make a brand new start paving that precious ‘last mile’ towards the Client.

In 2007 Vision International People Group Public Limited has turned its previous years’ achievements into foundations for a successful client-oriented mode of development in the future, which promises to benefit all the company’s stake-holders: from the customers it works for, to the employees who work for it, to the communities it works in, and – ultimately – to the share-holders it belongs to.

This year we are departing from our established policy of paying out substantial amounts of cash to our shareholders through dividends. Your Board has decided to propose no payment of a final dividend for this year but instead to retain all profits in the Company to ensure a strong liquidity base which will allow increasing investments in the future rapid growth and further development of your Company.

To conclude, I wish to say that I am grateful to our CEO and his management team and indeed to all our dedicated employees for the solid work which they performed in a year characterised by change and increased uncertainty in terms of business environment. I would also like to thank my colleagues on the Board whose collective competencies, skills, experience and judgement have been a constant source of inspiration and support to me in preparing and leading your Company, in facing the challenges ahead of us. Last, but not least, I thank our independent distributors on whose loyalty and productivity our success and very future ultimately rest. We have all learned valuable lessons in 2007 of how to respond entrepreneurially and rapidly to an ever-changing world. We are now better equipped and positioned to secure for our Company, our families and indeed to ourselves a brighter and sounder tomorrow. I am in no doubt that your faith in the long-term growth and prosperity of our Company will be justly and substantially rewarded in the years to come!

Dmitry Buriak
Chairman

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