SinterCast has made good progress in reducing its operating expenses. As there is a lot of travel expense to visit customers, and both the President and the engineering staff are frequently travelling, how are you controlling the travel expenses?


Shareholder, name withheld

This is a very good question. Travel is the second largest expense item in the annual budget of SinterCast. No employees in SinterCast, including the President, travel in Business Class. All flights are standard economy class and we try to book as far in advance as possible to secure competitive fares. We also use the low-fares airlines whenever possible, and we have instituted a maximum of EUR 100 for hotels. Our daily allowance for travelling is set according to the guidelines of the Swedish tax authority, and is the same for employees based in Sweden, the United Kingdom or the USA. As a result of these policies, and our more focused business strategy, we have reduced our 2002 corporate travel expenses by over 50% compared to the year 2000.