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To: Tom Alan who wrote (2872)	3/31/2002 12:17:43 AM
From: Invessi	Read Replies (1) \| Respond to of 3043

Tom I believe the answers to your questions can be found in the Chairmans letter to shareholders. Please let me know if there are statements in this letter that you disagree with. Paul "Letter to ESSI Shareholders 2001 was both the most challenging and most encouraging year the company has experienced. We have plans to make 2002 a revolutionary year for the company. The world is beginning to discover hyperspectral data. It appears the long wait for market acceptance is at hand. The declining stock market and 9/11 created obstacles for the company that required us to change our strategies in directions that were both planned and unplanned. The federal government's needs to monitor our homeland have opened up opportunities that the company is vigorously exploring. Cities, transportation systems, water sources and other natural resources need to be monitored and regularly tested for tampering. ESSI's Probe is uniquely qualified for this type of activity. Our newly announced georecitfication software will give a market advantage when marketing our collection and data sales. New techniques in processing are developing at a far more rapid pace. The demand is starting to build. Projects which were cancelled due to 9/11 are back on track for later this year. Projects on the schedule for this year include both revenue generating projects as well as research for proof of concept. The company regularly receives solicitations from companies and government agencies asking whether our technology will apply to their needs. The company spent almost a year and a half preparing oil and gas, mining, environmental, satellite and data subsidiaries for IPO entries into the capital markets. With the declining markets, the IPO model proved to be unsuccessful. Alternative entries into the capital markets are available and we are currently pursuing them to apply our technology and software in the different industries represented by our subsidiaries. We anticipate bringing at least one of the subsidiaries into the public markets this year with positive results for the company. Each of the subsidiaries will have an operating agreement with the company that includes a licensing/royalty fee as well as operating revenues. The agreement will require the newly formed public company to buy a minimum amount of data collection and processing from ESSI. ESSI will retain an ownership position in each of the subsidiaries. We strongly believe that our technology will give each of the subsidiaries a distinct market advantage. ESSI should see, in addition to outside revenue, an increase in the bottom line value of the company due to the revenues received for services delivered to the subsidiaries. In addition, the ownership of companies that successfully compete within their industries will add to the net asset value of ESSI's balance sheet. ESSI has plans to apply to a senior exchange. Steps are now being taken to organize that move. A move to a senior exchange combined with increased revenues and an increase in net asset value would allow ESSI to consolidate the industry through targeted acquisitions. ESSI has long been in a unique position to know which companies and individuals are key players in the field of data acquisition and processing. ESSI intends to take advantage of that knowledge when our capitalization plans for the subsidiaries is complete. We at ESSI are looking forward to a bright future and we want to thank you as shareholders for patiently holding the course with us. We hope to make great strides in 2002. Larry Vance Chairman"