2005 has been a very positive year in the development of Zenosis. Our new clients include AstraZeneca, Merck & Co, Merck KGaA, Pharmion, Chiron, Schering, and Generics UK, to name but a few. Current and recent triallists of Zenosis e-learning modules include the regulatory agencies of six countries.

From the eight modules available at the end of 2004, the library has grown to twenty; this will double to forty by the end of 2006. 2005 has also seen the launch of our first batch of '3rd generation' modules, which demonstrate significant enhancement in the areas of instructional design and engaging presentation. Conversion of all our earlier modules to 3rd generation is ongoing.

Our biggest project to date is the development of our new Learning Management System, due for release in January 2006. The development programme, begun in early 2004, has incorporated many recommendations made by clients from the pharmaceutical and biotechnology industry globally. We are confident that clients will find the many benefits of the new system invaluable. These include:

The new system will be validated and CFR21 Part 11 compliant in Q2 of 2006.

It only leaves me to express the gratitude of the Zenosis Board of Directors and shareholders to all our staff who, during the course of 2005, committed 100% to the ongoing development of Zenosis.

The Directors, staff and shareholders would like to take this opportunity to thank our clients for their support in 2005 and to wish them, together with our suppliers and triallists, a very happy Christmas and a healthy and prosperous 2006.

Ken Burgess
Chairman