A MESSAGE FROM CALVIN JOHNSTON

CEO OF LEUPOLD & STEVENS

It is a great honor for me to have been chosen to lead Leupold & Stevens, Inc. I realize this position carries a tremendous responsibility, because it is a unique opportunity to be asked to manage an industry leading, family owned business in its 5th generation.

I am looking forward to being the steward of a company that helps create such positive and exciting experiences for our customers. I am also eager to work with an energetic, forward-looking American workforce that is dedicated to serving the company's customers at the highest level.

As we start into our second century of business, we face many challenges - and each of them provides opportunities to innovate, create, develop and excel. Many of the relationships this company has are very long standing and none is more important than the relationship we share with our customers.

Thank you for your loyalty and continued support. I am proud to be a part of the Leupold & Stevens team.

Sincerely,

Calvin Johnston
President and Chief Executive Officer