Dear Customers,

I appreciate your strong and kind support for our products.

At photokina 2006, we introduced our next generation digital SLR
camera, the Sigma SD14. At the time, we made it clear that we would
begin shipping production cameras late November 2006. Soon thereafter,
we revised our release plan from late November to the middle of
December.

Of course we continued our development work on the SD14 in preparation
for production and shipping. During this process, we found one issue
that occurred occasionally and only under certain circumstances.
Initially, we felt that this could be solved with a programming or
processing solution. However, after careful investigation and many
attempts at a solution, we have come to the conclusion that we need to
make a hardware change to fix this issue completely.

All of us at Sigma regret very much that this will result in a delay in
the availability of the SD14 until late February or early March 2007.
Retail sales should start in mid-March.

We deeply and sincerely apologize to all of our current and future
Sigma users for this delay. We are confident that the SD14 will be an
important product for photographers. The results we have produced thus
far have been outstanding. However, we feel that we would not be
serving our community of present and prospective photographers well by
delivering a camera with a known issue. We ask for your understanding.
For our part, we will do our best to fix this problem and begin
delivery of the SD14 as soon as possible.

The amount of interest shown in our digital imaging products at
photokina 2006 and thereafter was very encouraging. Please note that
the delay of the SD14 will not have a significant impact on the
development work on other cameras or lenses. This work continues and we
will announce delivery plans as they become firm.

At this time, I would like to once again express my gratitude to all of
our Sigma customers for their support. Thank you very much for your
understanding and we appreciate your patience in waiting for the SD14.
We are confident it will be worth the wait.

Best regards,

Kazuto Yamaki
Chief Operating Officer
Sigma Corporation