Dear Friends,

In November of 2003, the Board of Directors of PSI HomeSavers voted to change its name to Rebuilding Together - Houston (RT - H). This was a result of its year-long affiliation with Rebuilding Together, the nation's largest volunteer organization serving elderly, low-income homeowners. The benefits of the affiliation are many, including the receipt of more corporate resources to underwrite our programs, and the development of our fourth program, the Safer Home Program (SHP).

For over 27 years, our Board of Directors, Board Committees, volunteers and our staff have been dedicated to maximizing the use of available resources to directly benefit clients. RT - H's well-established reputation for integrity and service permeates the corporate, church, and non-profit sectors. Our Auditors Report for 2003 indicates that over 98 percent of funds and value of volunteer hours are delivered to our clients in free home repair services.

RT - H and its partners delivered approximately $3.2 million in free repairs in 2003, benefiting over 800 qualified Houstonians. Financial support by corporations, churches, and foundation, coupled with the help of over 5,000 volunteers in the Volunteer Home Repair Program (VHRP), produced one-half of these repairs. Since the home repair initiative started in 1985, volunteer crews have restored over 4,300 home exteriors, and contractors have restored or repaired almost 3,800 roofs and interior systems in emergency repair programs.

Because of RT - H's outstanding accomplishments, the Harris County Housing Finance Corporation has awarded RT - H a $250,000 grant to deliver emergency repairs to homes of qualified homeowners. This program commenced in the first quarter of 2004, and helps underwrite RT - H's VHRP and SHP programs in Harris County's Precinct 2.

Thank you for your past support. We look forward to working together to assist deserving elderly and disabled homeowners in Houston and East Harris County with repairs they cannot afford to do themselves.

Sincerely,

Robert Mosbacher, Jr.
Randolph M. Henry