This year has been extremely productive for the staff at Target Coatings, Inc. We have developed a wide range of new coatings systems for professional and home craftsman finishers, as well as improved upon our existing line of products in order to offer our customers our continued pledge to provide cutting edge waterborne formulations that are attractive, durable and easy to use.

The introduction of our new Oxford UltraSeal-WB has been well received with wide praise from furniture builders, restoration specialists and luthiers for its unique shellac properties in a water dispersion blend. However, some users are not 100% pleased with the slight difference in the color effect generated by UltraSeal-WB when compared to alcohol cut dewaxed blends. With this minority in mind, we have continued to work on the fine points of this formula and have come closer to the true color tone generation associated with alcohol cut blends. Our new v2.0 UltraSeal-WB offers several advantages over the earlier version. One is improved color definition and clarity, and another is increased long-term shelf stability. We have adjusted the formula to wet out in a manner that more closely resembles traditional shellac cuts in its color effect on cherry and mahogany. Now you can rely on Oxford UltraSeal-WB to be a more user-friendly system that emulates alcohol cut dewaxed shellac in more ways than our v1.0 formula. If you liked our initial release of UltraSeal-WB, you will love v2.0.

We have not stopped our R&D efforts with just the UltraSeal-WB. In early 2004 we will be offering our newest editions to our line, Oxford Ultima Brushing Varnish as well as a new v4.0 of our venerable Oxford Premium Spray Lacquer and v4.0 of our Oxford Super Clear Polyurethane. Along with these upgrades we are now making available to the general public our EM6000 Production Lacquer. EM6000 has been developed for our high volume PSL buyers who use airless and air-assisted spray equipment that requires a WB lacquer that is delivered with piston-style fluid delivery spray system. I am happy to report that as of this date we are batting 1.000 for the switchover from PSL to EM6000 for our production finishers due to its user friendly behavior in a production environment.

Last but not least, if you have been seeking a truly user friendly water-based brushing varnish that works well with a wide variety of synthetic brush styles and offers the depth of image and warmth of oil-based varnishes, our new Oxford Ultima Brushing Varnish is just for you. Oxford Ultima Brushing Varnish is designed for brush, wipe and of course, spray use, on any wood or synthetic surface that requires the look, feel and durability of oil-modified varnish in a safe, easy to use waterborne format. Oxford Ultima Brushing Varnish is perfect for craft & cottage furniture, new and refinished architectural trim and outdoor wood surfaces with moderate exposure to the elements.

With these developments we are confident that Target Coatings will remain the leading manufacturer of waterborne finishes for years to come.

Please do not hesitate to contact us to discuss any of our products by calling 1-800-752-9922, or via info@targetcoatings.com.

Thank you for your continued support.

Sincerely,

Jeff Weiss
Director