Caracas, July 25, 2011

The Board of Directors of Corimon, C.A. is pleased to inform its shareholders that the fiscal year ended on April 30, 2011 has concluded satisfactorily.

In this sense, we are pleased to inform you that, during the fiscal year ending on April 30, 2011, the company made consolidated sales for the amount of one billion one hundred twenty nine million nine hundred ninety eight thousand constant bolivares and zero cents (BsF. 1,129,998,000) and the net profits for the amount of sixty one million, six hundred fifteen thousand constant bolivares and zero cents (Bs. 61,615,000). Total assets of the Company reached the amount of one billion six hundred nineteen million, nine hundred seventy eight thousand constant bolivares (Bs. 1,619,978,000), while total of liabilities were for the amount of seven hundred twenty nine million, two hundred twenty five thousand constant bolivares (Bs. 729,225,000) reaching a total shareholders’ equity for the amount of eight hundred seventy three million five hundred sixty six thousand constant bolivares (Bs. 873,566,000).

The Board of Directors proceeds then to inform the shareholders about the performance of Corimon, C.A. and its affiliates during the fiscal year ended on April 30, 2011.

During the recently closed fiscal year, Corimon, C.A. and its affiliates continue developing new strategic associations and technological alliances, as well as processes for updating their plants and procedures for purposes of exceeding our goals; likewise, through the group’s motto “Environmental liability = zero”, relevant investments have been done in this area. The group kept on making investments in cutting-edge peripheral and control equipments in order to improve services and offer better quality products to our customers.

Likewise, during the fiscal year ended on April 30, 2011, affiliate Corimon Pinturas, C.A. continue strengthening its commercialization strategy by increasing the presence of its products within the market as a result of the company’s financial stability, leading to a gross profit of Two hundred sixty seven million, three hundred sixty three thousand constant Bolívares Fuertes (BsF. 267,363,000) and operative of One hundred thirty three million, one hundred three thousand Bolivares Fuertes (BsF. 133,103.000). Likewise, it made important investments, among them, the acquisition of a labeling system to incorporate bar codes in all its production, also, a new labeler for gallons was acquired for the alkyd line, which allowed a productivity increase. Finally, two new electric generators with capacity for the whole plant were acquired.

Regarding affiliate Resimon, C.A., during the fiscal year ended on April 30, 2011, such company reached net profits of thirty five million five hundred thirty two thousand constant Bolivares Fuertes (BsF. 35,532,000) and operative of eight million two hundred fifty two thousand constant bolivares (BsF. 8,252,000). Among the most important investments, is the electronic and mechanical updating of the reactors in the affiliate which allows a substantial increase of quality and productivity.

In turn, affiliate Cerdex, C.A., company engaged in the manufacture and commercialization of paintbrushes, paint rollers, brushes and accessories for painters, kept its leading position within the local market, offering great quality products at accessible prices. Regarding investments made by Cerdex, we must point out that it acquired an automatic machinery to wrap paintbrushes that has contributed to substantial savings in the payroll, due to productivity increase and also acquired an electric generator to supply all the production. Cerdex obtained a net profit of one million four hundred eleven thousand constant Bolivares Fuertes (BsF. 1,411,000.00) and an operative profit of five million three hundred eighty six thousand constant Bolivares Fuertes (BsF. 5,386,000).

Regarding Tiendas Montana, C.A., the leading chain store in the commercialization of paints and related products at Venezuela, completed its 2011 fiscal year with one hundred fifty two (152) operating stores under the franchise scheme and its share in the total sales of Corimon Pinturas increased in 42%. For the 2011 fiscal year, it inaugurated fifteen (15) new stores among them some located in States Zulia, Portuguesa, Aragua and Anzoategui. Finally, it made an important investment of all the billboards of Tiendas Montana, with an updated design and quality.

Regarding the affiliate Montana Gráfica, engaged in the production of a wide range of flexible and foldable packages for mass consumption and industrial products and the rendering of design and pre-pressing services for the graphic arts industry, it is important to point out that this company completed the period reaching sales for two hundred eighty four million nine hundred fifty six thousand constant Bolivares Fuertes (BsF. 284,956,000) and obtaining operative profits of forty nine million eight hundred twenty three thousand constant Bolivares Fuertes (BsF. 49,823,000). Regarding the investments, two new electric generators have been incorporated that allow working in all the Plant despite of the continuous light shortages.

Our newest affiliate named PPV Puras Pinturas Venezolanas, C.A. continues its process of consolidation. Up to the present date, it has opened 19 Tiendas Pintatodo in Carabobo, Miranda, Zulia, Barinas, Mérida, Trujillo, Guárico, Bolívar, Maturín, Nueva Esparta, Lara and Anzoátegui, also having presence in the main multi-brand stores nation-wide. Currently is in the process of opening 4 new stores in Cabimas, Maracaibo, La Guaira and Puerto La Cruz. Likewise, we must point out the opening of distributors and points of sale with presence in different zones of the country for the commercialization of its products.

Finally, regarding the Principles of Good Corporate Governance and subject to the criteria approved by the National Securities Commission through Resolution N° 19-1-2005, the company’s Board of Directors has decided that more than one fifth part of the Directors members of the board may be deemed as independent. Likewise, the Board of Directors has appointed an Auditing Committee having the following duties: i) review in advance the company’s financial statements as a preliminary condition for their submission to the consideration of the Board of Directors and later submission to the approval of the Shareholders’ Meeting; ii) provide assistance to the Board of Directors regarding the implementation of the actions required for preserving the integrity of the company’s financial information; iii) assist the Board of Directors in its duty of supervising internal auditing activities and the work of independent auditors; and iv) review and analyze the content of the management’s letter in order to make the recommendations it deems necessary.

Finally, we want to inform our shareholders that Grupo Corimon, C.A., is aware of the importance of its social role, in that sense, we show you some of the activities performed during fiscal year 2011:

 During fiscal year 2010-2011 we continued making a voluntary contribution per pay roll to contribute to the nutrition of boys and girls of Unidad Educativa Virgen Misionera located in Carabobo State. Currently there are 345 workers that contribute on a monthly basis part of their salaries to help with this noble cause, discriminated among the following companies of Grupo Corimon:

CERDEX: 16 workers,
CORIMON: 78 workers,
CORIMON PINTURAS: 150 workers,
MONTANA GRAFICA: 53 workers,
RESIMON: 39 workers,
TIENDAS MONTANA: 03 workers, and

This way, currently the sum of the contributions of workers is approximately: Bs 8,073.25 and the Companies of the Grupo contribute with the amount resulting from adding the individual contribution of the workers, which means a monthly contribution between workers and companies of Bs. 16,146.50.

 During the month of September 2010, workers of Grupo Corimon and its affiliates were helpful with workers and habitants of the City of Mariara due to the flooding that affected said area. Affected persons were given boxes of non perishing food and clothes according to their family groups.

 During the month of December 2010, voluntarily workers of the Grupo donate a toy and they are given to special children or low income children that are located in the cities of Valencia and Mariara.

 During the month of March 2011, a program for the care and preservation of our environment was developed by our voluntary workers of the affiliate Montana Gráfica, C.A., and they planted trees in the Escuela Básica Alejandro de Humboldt, jointly with the Mayor of Mariara Municipality.

 Likewise during fiscal year 2011, affiliate Corimon Pinturas, C.A., has continued with the program of donating paints to educational institutions, foundations and public institutions, among others: Instituto Autónomo de Protección Civil y Administración de Desastres of Carabobo State; Consejo Comunal Vivienda El Oasis, Los Guayos Municipality; Centro de Educación Inicial “La Esmeralda”, San Diego Municipality; School of Health Sciences, Universidad de Carabobo; Escuela Básica “Alfredo Pietri” in Carlos Arvelo Municipality of the city of Valencia.

In virtue of the above considerations, upon reviewing the report by the Statutory Auditors, the Board of Directors of Corimon, C.A. submits to the consideration of shareholders the Consolidated Financial Statements of Corimon, C.A. and its affiliates, expressed in constant bolivares, for the fiscal year ended on April 30, 2011.