We are in full compliance with product information and labeling requirements in each of the nearly 100 countries in which we do business. We also put product information into the hands of customers, government officials, the scientific community and the public by publishing research findings, technical literature and general health and safety information on our web site at www.borax.com, visited by more than 850 people each day.

We believe in our commitment to product stewardship - but what do other people think? To measure our credibility, we asked customers and other opinion leaders to compare our performance to that of an ideal company. Survey results indicate that these stakeholders believe Borax is living up to their highest expectations for product stewardship.

Life Cycle Assessment
Borax leads the industry in measuring and communicating the health and environmental effects and benefits of its products. In 2003, we met our goals to complete Life Cycle Assessments (LCA) which quantify the environmental effects associated with making our products - and to begin LCAs which quantify the effects associated with using our products, focusing on wood preservatives first.

Data gathered for the LCAs can be extracted to produce Life Cycle Inventories (LCI), which provide quantitative data on the significant environmental impacts of our products, including energy and natural resource used, and waste generated. Borax makes LCI data available to customers and research institutions

None of our competitors produces similar data. In Europe, manufacturers are responding to increasing consumer and regulatory demand for transparency by publishing Environmental Product Declarations. Our investment in product assessment gives us the means to meet society's highest standards and to differentiate ourselves from our competitors.

Risk Assessment: Existing Products
Borax's progress on risk assessments in 2003 emphasized preparing dossiers under several European Union regulations. The EU risk assessment for boron does not evaluate risks of individual products, seeking rather to integrate all applications. Austria is the Rapporteur for this project, so Borax has provided supporting information and engaged Austrian and other government's staffs to help develop an appropriate assessment.

Risks associated with biocidal borate applications are also being evaluated, with the Netherlands as the responsible authority. Other European regulatory programs on substance classification and the developing new chemicals policy (known as REACH) will continue to be priorities for Borax. These programs will set ground rules for hazard and risk assessment procedures in the EU. The EU risk assessment for boron and the biocides assessment will be submitted for government review in 2004.

Risk Assessment: New Applications
In 2003, Borax continued conducting risk assessments on commercial applications, including borates in ceramic tile bodies and wood preservatives. Every new application we develop is also subject to risk assessment. During initial stages, applications are evaluated simply - their contribution to sustainable development is ranked as a plus, a minus or neutral. As applications move closer to full commercialization, these evaluations become much more rigorous in keeping with globally-accepted risk assessment standards.

Customer Partnerships Borax's expertise in developing and implementing its sustainable development program created opportunities to partner with Canadian agricultural manufacturer Sylvite. Borax guided Sylvite in launching its own program in time to meet more stringent national regulations. As a result, Sylvite has granted Borax sole supplier status, and is helping launch a new, more efficient fertilizer product.