Message from the Board of Directors on the Occasion of the 50th Anniversary of the Incorporation of Guindy Machine Tools Ltd - 28th October 2009

It gives us immense pleasure to share with you the news that our company came into existence on this day in 1959. The company was established by PV, an outstanding engineer and teacher, who dreamed of setting up an engineering firm from a very early age.

During the fifty years of existence, the company has acquired an unshakeable reputation for the quality of its engineering, products and services. This came not just from the hard work of each and every employee, but also from PV's deep sense of commitment to sharing the fundamentals of engineering with his prospective customers. When he started the company, it was not common practice to share engineering knowledge, as there was fear that the customer might use the knowledge to work out his own solutions. PV's approach was unique and his charm as a teacher incomparable. Over time, customers came to appreciate the value of his teaching and came back to learn from him and in the process bought more products.

The first three decades were especially hard, when we experienced great difficulties and hardships in almost all areas of operation, especially finance, marketing and in the economic environment. But our founder, PV, and his team always looked ahead to the day when we would overcome them and grow and flourish. This vision is being realized today, and we are seeing the fulfillment of those hopes.

We would like to thank our employees, shareholders, customers, suppliers, associates, our bankers-State Bank of India, our chartered accountants-M/s. Vijayaraghavan & Associates and well wishers for their contribution to this company's growth and look forward to steering it to even greater heights with their continued support.

With best regards
The Board of Directors