October 02, 2009
Dear International Power Group Shareholder:
We write in advance of our October 14, 2009 Shareholder’s Meeting to bring to your attention some exciting news that you may or may not have seen in our recent press releases despite the distractions being imposed on International Power Group, Ltd. (“IPWG”) by certain former employees and shareholders. Further, we would like to take this opportunity to clarify some news released by the United States Securities & Exchange Commission (“SEC”) with regard to some companies that IPWG once conducted business with.
First and foremost, IPWG has secured a financial partner, ifi Srl, that will be assisting IPWG execute on its many development opportunities, beginning with its project in Random, Poland. Please see our press release dated September 29, 2009. The Random project is outlined in our press release dated September 15, 2009. Our new financial partner has positioned IPWG for great success into the future and will allow us to achieve the goals set out by IPWG’s founder Peter N. Toscano.
Second, it has come to the attention of IPWG’s management that certain shareholders and former employees have set out to somehow block IPWG’s effort to secure the necessary votes for all the items on the Shareholder Proxy you have received in advance of the shareholders meeting. This notion leaves shareholders with little option because these former employees or shareholders have not put forth any competing proposal or Proxy. Further, these former employees and shareholders have not put forth any basis for denial of these Proxy issues and moreover have failed to offer any competing Proxy. Last, to the extent these Proxy matters are voted down it will cause detrimental harm to IPWG and its shareholders. In that regard, we would like to request that you withhold your votes with regard to the Proxy until you have heard all the information to be delivered at the Shareholders Meeting. If you have already placed your vote, please be aware that you have the option to change your vote as noted on page 4 of the Proxy instructions.
Last, on September 24, 2009 a civil Complaint and Temporary Restraining Order was filed in the case of United States Securities and Exchange Commission v. K&L International Enterprises, Inc. This lawsuit is not against IPWG and does not include IPWG as a part. IPWG transacted business with some of the name defendants to this lawsuit and these transactions are merely mentioned in this lawsuit. IPWG is cooperating with the SEC Chicago Regional Office in regards to this lawsuit and will continue to do so.
In conclusion, the Board of Director and I believe that all issues contained on the Proxy statement related to the Shareholder’s Meeting are in the very best interest of IPWG and its shareholders. We therefore ask that you vote in favor of these issues to allow IPWG to achieve its goals and bring value to you and each and every shareholder.
I look forward to seeing you at our Shareholders Meeting on October 14, 2009.
Best regards,
John Benvengo
Chief Executive Officer and President
cc: IPWG Board of Directors