SanDisk 2003 Annual Report Download - page 3

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advanced NAND wafer fab in Yokkaichi, Japan and the investment is expected to be funded from a
combination of leases, bank loans and cash assets.
In conclusion, I am proud of our excellent execution, unrelenting innovation, and our employees whose
passion and hard work have made us the global leader in our markets. We are exceptionally well positioned to
beneÑt from future growth in these young mega markets with our leading products, strong retail presence,
broad OEM customer reach, a successful vertical integration business model, and a proven IP strategy.
We very much appreciate the continuing support and conÑdence of our customers, employees and
stockholders.
The Future of Flash is Everywhere.
Store Your World in Ours!
Eli Harari
President and Chief Executive OÇcer
This letter contains forward looking statements that are based on our current expectations and beliefs. These
forward looking statements are subject to many risks and uncertainties that could cause our actual results to
diÅer materially, including those discussed in our 2003 Annual Report on Form 10-K for the year ended
December 28, 2003 Ñled with the Securities and Exchange Commission and included with this letter.