Veltex Corporation (VLXC)

[pual]

I DO NOT ACCUSE BUT SUSPECT THAT FOR WHATEVER REASON (LESS THAN HONEST BEHAVIOR OR INCOMPETENCE), MATIN CONTINUES TO REPORT REVENUES AND EARNINGS AS IF HE OWNED THE BENGLADESH OPERATION.

WE KNOW THAT, AT LEAST IN AUGUST 2004, CONTRARY TO WHAT WAS SAID UP TO THEN, WE DID NOT OWN CONTROL OF VELTEX TEXTILE MILLS INC.

MATIN THEN GOT CAUGHT AND SINCE THEN I SUSPECT HE IS TRYING TO MAY BE REACQUIRE THIS ASSET SOMEHOW (DOUBTFUL) OR BUILD A NORTH AMERICAN REVENUE GENERATING COMPANY WHICH WILL HELP HIM BURRY THE LIE WHENEVER THIS BUSINESS IS IMPORTANT ENOUH TO DO IT.

AS YOU SEE I DO NOT SAY THAT VELTEX IS COMPLETE FABRICATION BUT SUGGEST THAT THE MARKET, INCLUDING THOSE WHO DO KNOW, ESTIMATE THE VALUE OF THIS COMPANY TO BE MORE OR LESS $10 MM... FOR THE MOMENT.

TO BAD MATIN REFUSES TO TAKE THE HIT AND COME OUT CLEAN WITH THE REAL STORY.

SOURCE: NOTICE OF SPECIAL MEETING OF SHAREHOLDERS OF VELTEX CORPORATION - Dated August 25, 2004

Special Meeting of the Shareholders of Veltex Corporation has been called by the Company's Board of Directors, to be held on the 15th day of September, 2004 at 9:00 a.m. ... for the purpose of submitting the following proposals to a vote ...

b) To issue 18,000,000 shares of the Company's common stock for all of the outstanding shares of Velvet Textile Mills Limited.