Cadiz, Inc. | 2009 April
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April 2009

The following letter was filed on Form 8-K on April 8, 2009 - Dear Shareholder:
I am writing to report on the significant progress we are making in the realization of our water supply and storage business and to give you a clearer idea of what to expect in the near future. We believe the Project is on a clear path, and over the next few months, we will be announcing elements of a multi-pronged plan to secure environmental approval, sign agreements with customers, and ultimately begin construction of the Project.