Dear Shareholder,
 
 Bottoms Out Recession
 
 As reports percolate in with regards to World Economies and the
 recession, one cannot help, but cheer after a long grind. The mood
 definitely seems upbeat with leading business chambers opining that the
 worst has been left behind the global economy on the release of GDP
 data. India Inc. today sees the signs of a turnaround in the economy
 with GDP showing a growth of 6.1 per cent in the first quarter of the
 fiscal 2009-10.
 
 One eminent business chamber in particular states that with the global
 recession bottoming out, we can expect sectors such as trade, hotels,
 transport, communication, and manufacturing to
 
 accelerate the pace of growth in the coming months. The chambers
 opinion that the growth on sequential basis from 5.8 per cent in the
 fourth quarter of 2008-09 to 6.1 per cent in first quarter of the
 current fiscal indicates a turnaround in the economy, and this comes as
 good news to the crisis hit textile industry.
 
 The economy shows improvement despite the weak performance of the
 agriculture sector. This shows that the stimulus measures taken by the
 government are yielding results, and this should continue for some
 time.  With such measures in place, the economy should gradually bounce
 back as sectors like steel and real estate have started picking up. The
 timely interventions of the government through fiscal and monetary
 measures are helping the economy recover from the global crisis.
 
 Large textile firms are gearing up to increase production after almost
 a year- long lull, on the back of a revival in international orders. In
 times when domestic consumption and international consumption has come
 to depend on pricing, innovation stands at the fore of every agenda. In
 the coming months, exporters are predicted to book more orders. The
 demand for domestic consumption cannot be lagging far behind. There
 could also be a shift of focus from the export market to the domestic
 market in the near future with the increase in demand for specialty
 products such as technical textiles, etc.
 
 Newer infrastructure essential for growth continues to be put into
 place in India, and the world over. This has inspired and spurred
 profitable activity in many hidden nooks and corners of the industry.
 With innovation constantly on the forefront of economic activity,
 growth as a result seems inevitable.
 
 Following trends, and implementing strategies as and when required,
 Vertex Spinning Limited continues to grow positively into the future.
 The newer projects including the Vertex Integrated Textiles Park are
 bound to create opportunities to grow sustainably.  Spearheading the
 south bound movement, Vertex Spinning Limited continues to lead the
 textiles industry into the new post recession era.
 
 Nearer into the future, expansion seems but the only option. Keeping in
 mind the China textiles pricing issues, and the gradual shift of UK and
 US textile manufacturers towards outsourcing production and textiles
 trading, Vertexs strategy has been modified slightly to include the
 elements and scope of textiles trading operations. This confirms the
 flexibility of Vertex in search of newer avenues.
 
 VERTEX SPINNING LIMITED continues to be known to constantly inspire and
 be inspired to scale newer heights of performance and human potential.
 This experience may be felt not only in the decision making process,
 but also in other activities that create value.
 
 With the patronage of Customers, Bankers, Financial Institutions,
 Marketing Associates, Shareholders, and the dedication of the Vertex
 team, Vertex Spinning Limited commits to continue to strive to be able
 to fulfill the dreams of millions.
 
                                                      suresh varma
                                                          Chairman