It is a great pleasure to announce the selection of Babcock as the ‘Doosan Company of the year, 2008’. This is an annual award made for the best company performance within Doosan Group.

Iain Miller had the privilege of receiving the award on the company’s behalf at a ceremony in Seoul on Thursday 22 January. The Presentation was made by the Chairman of Doosan, Mr Y.S. Park.

The prize, which we are allowed to keep and which will go on display at some stage in the future, was a gold ‘Mal’ or ‘Dwey’- a traditional measuring device for liquid or grain.

Our selection was on the basis of our business performance during 2008 when we exceeded all of our financial targets. This is the first time that a non-Korean subsidiary has been awarded the prize and is particularly noteworthy since we have only been part of the Doosan family for two years. Our colleagues at DHI’s Nuclear Business Group were runners-up.