The Survey of Women on Boards of Directors of California-Based Fortune 1000 Firms was conducted by Technology Place Inc. in 2004 in order to establish a baseline of information for women professionals seeking to acquire the training and experience required for placement on public corporate boards.

As you might expect, California is home to the largest share of large firms, and California also is a leader among public companies with women on boards. A snapshot of the 2004 Survey results demonstrates that top tier firms (Fortune 500) tend to have more women on their boards, and that Northern California firms tend to have more women on their boards.

A first innovation in this year's project is our collaboration with the Women In Business Foundation -- a 501(c)(3) not-for-profit organization founded in 1984 to benefit the educational and charitable endeavors of Women in Business Inc./Los Angeles -- an organization dedicated to promoting opportunities for women in leadership and decision-making positions in the community.

By way of background, Women In Business Inc./Los Angeles began informally in late-1974, as an outgrowth of a UCLA Extension Workshop, entitled "Women, Work and Power." Businesswomen continued to meet at one another's homes to begin a phenomenon-which would soon become known as "networking." It was incorporated as a not-for-profit business league in 1976 -- an organized forum of economic and emotional support for successful businesswomen. See: www.wibla.org

This relationship will ensure a more comprehensive awareness and distribution of the findings from this research among area women business owners and women in business.

A second innovation in this year's effort is that we are interviewing candidate student research analysts from area business schools and universities to assist us in the research project. The involvement of student researchers will educate area students about how to access corporate governance information online - an opportunity afforded by the improved information dissemination mandates of Sarbanes-Oxley.

A third innovation this year is our evaluation of the skills and experience which California women board members currently possess. With this information, we will be able to identify some of the critical career decisions women might consider to improve their candidacy for board roles.

In November 2004, when Elizabeth Ghaffari, President of Technology Place Inc., presented last year's findings to the Women's Business Connection at UCLA Anderson, a major area of interest on the part of women business students was how and where they could obtain the training and experience required to become qualified for board of director roles and responsibilities.

Technology Place Inc. has commenced work on the 2005 Survey project. We again will focus on how well women are progressing to positions at the top, on boards of directors of California Fortune 1000 firms.

We are looking for sponsors for the 2005 Survey of California Women on Boards. We would like you to consider supporting this worthy endeavor. In addition, we would value your advice and input as to other possible candidates for sponsorship and support of the 2005 Survey.

Project sponsors will have preferential early access to research results, prior to general distribution through web and print media. Project sponsors will be acknowledged in all public announcements.

Additional project documentation, including information pertaining to the Women in Business Foundation and its 501(c)(3) status, as well as other project participants, will be provided to sponsors as part of the formal project agreement(s).

We are enthusiastic about working again on this innovative effort to highlight future board opportunities for today and tomorrow's aspiring women. We thank you for your continued support of women on boards of directors.

I look forward to the opportunity to address any questions you might have about this project and your interest or involvement.

TECHNOLOGY PLACE INC.