COATES + COATES COATES + COATES

Boston Chicken, Inc.
CNA Financial Corp.
CNA Surety Corp.
Cobalt Corp.
Corn Products International
Einstein/Noah Bagel Corp.
Focal Communications Corp.
Fort James Corp.
HSBC - North America
Mercantile Bancorporation
Molson Coors Brewing Co.
Motorola, Inc.
OGE Energy Corp.
ProLogis
Rohm and Haas Co.
Sara Lee Corp.
Vectren Corp.
Xerox Corp.

CNA Surety Corporation 2004 Annual Report



We designed the 2004 CNA Surety Corporation Annual Report to communicate quiet confidence in a 10-K wrap. With strong graphics on the cover flowing into a clean, easy-reading shareholder letter, readers get a sense of a company that is as conscious of clarity and quality as it is of cost.