I should like to start by thanking the Honorary Treasurer for presenting his report for 2002. This time last year he likened 2001 to an annus horribilis and this year has been no better for the financial markets. Notwithstanding world crisis and depression, however, the Society's performance, as the Honorary Treasurer has pointed out, has borne comparison with appropriate benchmarks. I congratulate the Honorary Treasurer on his judicious management of the Society's finances. We have also benefited immensely from the wisdom and experience of the other members of the Finance Committee and Investment Sub-Committee.