Introduced in September 1983, his monthly newsletter is read by annual report producers and other corporate officers in Latin America, Canada, South Africa, Sweden, Germany, Switzerland, the Philippines, Japan, Australia and New Zealand.

Marking celebration, with Issue No. 217, of commencing his 19th year, Cato will host more than 75 executives at his 14th annual International Annual Report Conference. It's to be held Sept. 12-14 at Baltimore's new Marriott Waterfront Hotel. Cato said his research indicates Baltimore Gas and Electric introduced the world's first annual report in 1823.

His annual conference has proved a hit: Nancy A. Fuller and Steven Eckerstrom were at his first conference, in New York City, in 1988, Lonnie Ross at his year-later conference in San Francisco, Steven Khail at Chicago in 1990. All four are registered for this fall's event.

The journalist, author and former corporate officer has a website (www.sidcato.com) averaging 1,000 visitors a month since its introduction in late-April 1996. Cato is a contributing editor to Chief Executive, for which for the last 17 years he has picked the world's 10 best and, until last fall, 10 worst annuals. He uses proprietary computer programs that monitor a "report's positive or negative nature," ranging from "financial disclosure that's more than what's customary or required by the Securities and Exchange Commission" to "complete honesty, especially in the letter to shareholders."