Wolverine World Wide Investors: We are pleased to report that your Company once again delivered all-time record results in 2007, with revenue growing 5.0 percent to $1.199 billion and earnings per share increasing 15.6 percent to $1.70. We have a unique operating platform consisting of a powerful portfolio of eight lifestyle brands, a broad and wide-spanning geographic reach and a diverse global distribution strategy which focuses on many different consumer groups around the world. This proven business model led to a strong performance in 2007 and enables the Company to consistently deliver revenue growth and exceptional earnings per share gains.

Strategic Vision: To Excite Consumers Around The World With Innovative Footwear And Apparel That Bring Style To Purpose. To reach this vision, we developed a plan based on the tenets of product innovation, global expansion, brand development, service excellence and community service- with the end goal of delivering superior shareholder returns. We are pleased to report that our record 2007 performance is a direct result of the execution of that plan.