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Organization for Standardization (ISO) 14001 certification. Significant Environmental Aspects, which are the focus of the programme, include air emissions, waste management, petroleum management, resource use, process water management, hazardous materials and chemical management, and noise emissions. 

The Health & Safety and Environmental Management System (EMS) committees have been combined and Occupational Safety and Health Administration (OSHA) and ISO internal auditor training provided for the relevant staff. We believe this initiative will introduce the best practice of the ISO registered EMS system to the safety management process in order to improve the efficiency in the administration of these two critical management systems. 

## Community 

CUC is committed to the Grand Cayman community and continues to participate in a number of community involvement activities through donations and employee volunteerism. These activities are primarily focused on youth development through sports, education, environmental awareness and protection. 

The Company provides ongoing support to the Lighthouse School and Sunrise Adult Training Centre, two facilities which cater to special needs children and adults. 

During 2011, our employees volunteered 1,565 hours to participate 

in the Company’s Community Involvement projects. These included Big Brothers Big Sisters, Meals on Wheels, the Cadet Corps, CUC’s Primary Football League, the Cayman Islands Scouts Association and the Positive Intervention Now programme, an after-school programme. 

CUC also sponsors an educational programme which exposes primary school children to the Island’s marine environment. 

## Summary 

The year under review was CUC’s 45th year of operation and could be considered a formative year in many respects with substantial work on projects such as AMI, the closing of the Eastern Loop and the tender for renewables, all of which have great potential to change the way we operate and bring significant benefits to customers in years to come. 

The Company also finished the year on a positive note with earnings growth. This is a direct result of steps taken to maintain high levels of efficiency and service reliability to consumers while controlling the Company’s discretionary expenditures. We anticipate that our focus will remain the same, as the economy slowly emerges from this recession. 

We will continue to work at creating value for our shareholders, customers and employees by being best in class in the Caribbean in productivity and efficiency, quality 

and reliability of service and safety and environmental performance. 

We will continue to protect the brand, reinvent the Company continuously through the use of available technology and reinforce the CUC culture through our values which we live daily. 

CUC receives guidance and support from its Board of Directors and we thank the directors for their ongoing contributions. Most importantly we thank all our employees for their loyalty, hard work and dedication to our mission: “To be a leader in the growth of our community by delivering safe and reliable energy services at competitive costs and with respect to the environment while being a model corporate citizen and providing a fair return to our shareholders.” 

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March 9, 2012 

