Dear Shareholder, Colleague and Ladies & Gentlemen

It is a great pleasure to welcome you to the 41st Annual General Meeting on behalf of the Members of Board of Directors whose Report together with Annual Accounts & Auditors Report thereon for the year ended 31 March, 2007 is being laid before you for your valued consideration.

You will delightedly observe that the Company has continued to hold the top position amongst its peers. This has been possible, despite adverse socio-economic-politico and law & order situation, due to dedication and support of the officers, staff and workers against lot of odds and hazards. Our commitment for good governance and socially responsible character have had a positive impact on our performance.

In terms of our vision, we continue our focus on strategic investment in life sciences and bioengineering products. We ensure that our perception to the structural changes in the pharmaceuticals and chemical industry as an opportunity we can seize to expand our operations, at home and abroad. We expect our Government would extend necessary policy and material support to enhance our profitability and help become one of the global enterprises.

Operations of our subsidiaries/investment projects is expected to help generate additional profit for the shareholders in the near future.

Our emphasis on green and sustainable chemicals continue unerringly for positive results on environment. Our commitment to CSR has had effects in all the management echelons and any violation is taken to task. We view it as our pertinent responsibility for Good Corporate Governance practices.

We all have seen unusual terror and war situation all over the world which adversely affect our business. We however, look forward to brighter days ahead as the socio-politico signs show the twilight in the horizon.

Samson H. Chowdhury
Chairman