text: MANAGING DIRECTOR’S 
  REVIEW 
  **4**John Ellice-Flint reviews Santos’ 50th year, 
  where the values embodied in the great 
  explorers of yesteryear are shaping 
  Santos today. 
  
  SUSTAINABILITY 
  **26**Sustainability activities undertaken in 
  
  STOCK EXCHANGE 
  AND SHAREHOLDER 
  INFORMATION 
  **90**Listing of top 20 shareholders, analysis  2004, including safety and environmental 
  performance, employees and communities. 
  
  of shares and voting rights. 
  
  CORPORATE GOVERNANCE 
  **29**Details of the main corporate governance 
  
  INFORMATION FOR 
  SHAREHOLDERS 
  **92**Annual General Meeting, final dividend, 
  THE WORLD OF SANTOS 
  **8**Locations of Santos’ global exploration, 
  development and production activities. 
  
  practices Santos has in place. 
  
  DIRECTORS’ AND SENIOR 
  EXECUTIVES’ REMUNERATION 
  **37**Remuneration details for Directors and 
  
  shareholder enquiries and information 
  resources for shareholders. 
  
  ANALYSING FINANCIAL 
  PERFORMANCE 
  **10**Putting the numbers in perspective and 
  explaining the 2004 financial results. 
  GLOSSARY 
  **93**Most frequently used terms explained. 
  
  key executives. 