PERFORMANCE BONUS

HERE IS THE LETTER THAT GOES TO ALL OUR ASSOCIATES FROM MY DESK, SINGED BY OUR CEO.

Global Economic Slowdown created uncertainty and resultant cascading effects like job loss and wage reduction all over the world. Ours have not been immune to the crisis as our import business has dropped off drastically although there is a sign of recovery in recent times.

We are hopeful that we will be able to achieve our current year business targets as team by working aggressively to retain customers and seeking new business opportunities. Also we need to be more cost conscious in every decision that we take.

Under the circumstances, it made us to take decision to freeze on wage revision for the current year. However, recognizing the performance of each individual, we have considered the payment of bonus as per our policy on Performance Bonus.

We are pleased to inform that in recognition of your contribution during the year 2008 «PROMOTION» and you will be paid Rs. «BONUS» as performance bonus. This will be credited to your account on or before 30th May 2009 subject to the deduction of applicable taxes.

You shall not disclose your bonus details, either directly or indirectly to any other employee of the company as the same will have to be treated in strict confidence.

Thanking you for your ongoing commitment and contribution to strengthen our position in India.

Warm Regards