Another important difference in the way we conduct business is with our
local presence at tradeshows. Stiefel Laboratories is one of the only companies at
tradeshows with representatives present from locations around the world.
We believe it is the right thing to do. Skin care needs differ from culture to
culture. The laws that regulate skin care products differ from country to
country. The products that are available differ as well. We think it helps if
we have the local expertise available when and where it is needed.