Dear LISA Members, 1998 has seen a good start for the Association. Over 220 localization professionals participated at the LISA Conference USA in Salt Lake City. Despite inclement weather, the OSCAR Special Interest Group made considerable headway on the TMX initiative, pushing easier exchange of translation memory data between tools and translation vendors. We also ran our second Tools and Translation Technology Workshop. Building on three successful Asian forums over the past three years, we are now finalizing the program for the Japanese localization conference, to be held at the Laforet Hotel, Tokyo on May 31-June 2. LISA has been fortunate in receiving sponsorship from ITP Limited, IBM Japan, Hewlett Packard, LionBridge Technologies and Bowne Global Solutions. Likewise, we are grateful for the local support being provided by Computing Japan, the Japanese Personal Computer Software Association and the Japanese Translation Association. As Japan experiences its first economic crisis after several decades of growth, LISA members have the opportunity to be in Tokyo during a critical time in the country's global business evolution. The Forum's keynote speakers are Mr. Kazuhiko Nishi, President of ASCII Corporation, and, Mr. Terrie Lloyd, President of LincMedia and publisher/founder of Computing Japan. These successful entrepreneurs will share their views on subjects such as: Will current financial policies help or hinder the Japanese localization industry? What will the impact be on the rest of the Asia-Pacific region? What is Japan's IT and communications business outlook for the rest of the decade? Case studies, and tracks on business, tools and technology and culture will all be provided. Some sessions will also be held in Japanese (another LISA first) to educate local companies on the business and technical aspects of localization. Group discussions will address at least one overriding concern: How will companies who have established or augmented their production facilities in Japan be influenced by the economic slow down? In parallel, we will be running the Second LISA Executive Roundtable. Senior managers from Japanese companies and LISA General Assembly members have been invited to participate in discussion groups covering the industry's strategic development in Asia and worldwide. The facilitators will be Terri Lloyd and William Maruchi, a Harvard MBA, international entrepreneur and former head of Digital Equipment's personal computer business in Europe. We are witnessing a fast start for localization in 1998, and one that mirrors most of last year's financial projections. Companies appear to be capitalizing on their recent technology investments, consolidation and restructuring efforts. Clients' outsourcing expenditure is rising. However, the jury is still out as to how many service providers will reap the lion's share of the new clients and the emerging vertical market business. This year's LISA Annual Meeting on August 24-27 in Madrid's Palace Hotel, which is initially sponsored by Mendez Language and Technology, will show more about where the investments are really paying off. Until then, we wish everyone continued localization success. Michael Anobile, Managing Director