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Investor Information

Reflections on Fiscal 2001

Dear Andyco Shareholders,

Good news! Our profit results for Q4 of 2001 provide possible evidence that Andyco has turned a corner after a challenging 2001. We remain hopeful that the billions in lost market capitalization due to the severe plunge in our stock is good cause for optimism - for at the current stock price of 17 cents per share, it is clear the bottom is near.

In fiscal 2001, several forces played a hand in our unfortunate financial performance. Revenue shortfalls -- mainly due to the international clampdown on child labor, aggressive investments in e-commerce start-ups, and cost overruns with our ongoing headquarters construction -- have led us to "tweak" our company business model.

As Sister Henrietta used to say after forcing me to hold a large medicine ball for an hour while kneeling on table salt for talking in 3rd grade study hall -- "That which doesn't kill you makes you stronger." And I feel those words ring true here.

To the many shareholders who lost their home and/or life savings, let me assure you -- at least you've got your health. Life is more than just "three squares" and a roof over your head! And as long as this is remembered, not all is lost.

Looking ahead, not dwelling on the past.

At Andyco, we believe that earnings are the direct result of well-run organizations that capture significant market share and a sustainable competitive advantage. Our highly paid management team have a passion to succeed, resulting from a clear vision of how much MORE money they'd like to personally make, and what they'd like to buy when they make it.

What are we doing to reach these goals? Our first step was to fire 4,800 employees. Our next step was to totally revamp our Internet portal: Andyco.com. We hope you agree, the millions spent on this new and improved site will be the first small step in many small steps after that.

We thank you for your patience during this transition period. And though we rarely answer them, we are always available to receive any questions you may have.

Sincerely,

Andy V
President & CEO, Andyco

Andyco Financial Report
Fiscal 2001

Though it was a challenging year for employees and shareholders alike, as you can see by the trends, there is much to be optimistic about in 2002 and beyond: