EXHIBIT 99.1
CAPRI CORP.
2651 WARRENVILLE ROAD, DOWNERS GROVE, IL  60515  USA



                                                                 October 2, 2001



Dear Shareholders,


     Fiscal 2001 has been a difficult year in terms of revenues and earnings.
The entire electronics market segment, and specifically the printed circuit
board market, has been hard hit by the recent economic downturn. As a leading
supplier of software and services to this market, we too have been adversely
impacted. Although this trend will most likely continue into the first half of
fiscal 2002, we are starting to see an up-tick in our customers' book-to-bill
ratios.

In spite of these difficult market conditions, we have made significant
accomplishments on several fronts.

     -   Significant resources were devoted to the development of a new product
         called Engenix(TM). Engenix(TM), a pre-production engineering execution
         solution using rules-based technology to automate front-end processes,
         is poised to bring dramatic increases in productivity to printed wired
         boards engineering teams. Engenix(TM)solves a key engineering problem -
         the lack of integrated information - which makes engineering team
         collaboration a highly manual process, which can be inefficient, time
         and labor-intensive, and often error-prone. Engenix(TM) can transform a
         company's engineering expertise from a `production cost' into a
         strategic asset by formalizing engineering expertise into a decision
         support system. Engenix(TM)enhances a company's competitive position by
         reducing time to production and improving customer service and
         satisfaction through more accurate quotes and timely and improved order
         fulfillment.

     -   The release of a major Paradigm(R) upgrade, Version 2.1, which has been
         well received by customers worldwide. This version incorporates many
         new features and functions that have been requested by customers.
         Version 2.1 now runs on multiple hardware platforms including Unix
         servers from IBM, HP, and SUN, in addition to numerous platforms
         running Microsoft NT / Windows 2000 Server. Our growing development
         team based in Bangalore, India, played a significant role in the
         release of this new product. With resources now in the US and India, we
         are now positioned to accelerate future development initiatives.

     -   The investment in resources and the time invested in Asia over the last
         two years are now starting to show returns. During this difficult
         downturn, our focus has been on the growth in Asia. We have secured
         several significant accounts that will be influential in expanding
         sales activities in the region. We now have a full Chinese version of
         our Paradigm(R) product, which is supported by employees based in Hong
         Kong, Shenzen, and Taiwan.



                                     -Over-


CAPRI CORP.


     -   Our efforts towards entry into the Japanese market have finally been
         rewarded. We have recently signed agreements with two Japanese firms to
         install Paradigm(R) in their facilities. This Japanese version of
         Paradigm(R) will be fully supported by our Japanese distributor and the
         technical support staff in our India office.

     While we have implemented various cost containment initiatives, we continue
     to invest in products and capabilities that will result in future growth.
     With these initiatives in place, we believe we will be well positioned when
     market conditions return to normal levels.



     Sincerely,

     /s/  Mehul J. Dave

     Mehul J. Dave
     Chairman and President
     Capri Corp.