Since 2001, we've invested close to $65 million in environmental infrastructure and spent more than $110 million in managing environmental matters across the organization. We have completed environmental audits at 60 facilities, undertaken a rigorous compliance management program, managing almost 50 permits and submitting almost 70 reports annually to various regulatory authorities, and trained 600 managers and supervisors in environmental requirements and best practices. We've also completed almost 450 environmental projects in areas like air emissions, wastewater control and waste management and reduction, touching over 90% of our manufacturing facilities. In 2008, we launched our environmental excellence program, which is standardizing our environmental management system across the organization.

Last year, we began developing a comprehensive environmental strategy to strengthen our environmental initiatives and integrate environmental considerations in our business strategy and decisions. This program will see us reap the environmental and business rewards of sound environmental stewardship.

Giving back to our communities
Our charitable focus is to meet the nutritional needs of those most vulnerable and support long-term solutions that increase their access to nutritious, affordable food. To support this, our philanthropy activities harness our strengths as a large food company to direct our donations of time, talent and resources. This ranges from volunteering with non-profits to lend our expertise in finance, supply chain planning or communications, to financial or in-kind product donations. In 2008, we contributed roughly $4 million of meat and bakery products that were distributed to people in need, concentrating on food banks and similar organizations in communities and countries where we operate. Last December alone we donated 8,500 kilograms of fresh pork products and over 1,800 turkeys. This included major projects in Brandon, Winnipeg and Montreal during the holiday season to stock food banks. But it also included shipments of food products to impoverished indigenous communities in Northern Canada, where the cost of food is up to four times higher. We are very proud of our strong community relationships and look forward to building on these programs as they are an important part of who we are as a company.

Looking ahead to 2009
Maple Leaf is in the fortunate position of being in the food business, a sector that typically experiences more stability in tough economic times. Our opportunity is to adapt to these economic realities by targeting growth opportunities - particularly innovative new bakery and meal products for the home and quick service restaurants, where the market is strong. Our leading market positions and strong brands provide a very strong competitive platform to deliver greater earnings.