Cover Letters

Transmit Annual Report to a Business

Mr. K Lambton
Chief Financial Officer
Static Solutions Inc.
40, Downing St.
North London, NL 07045

Dear Mr. Lambton:

Further to your telephone inquiry yesterday, enclosed is a copy of Derrick’s Annual Report for the 2009-2010 fiscal.

As I mentioned, the financial results in terms of earnings per share need to be qualified as per the notes included on pages 18 and 19 as per which, we had a number of extraordinary transactions last year resulting in the understated earnings picture compared with our expectation for the current year. In fact, it is our firm expectation that this year’s earnings per share’s figure will be twice that of last year.

With respect to the numerous questions you had regarding our printing operations, would you please have a look at the summary of operations on pages 21 to 23. There is plenty of details which are likely to answer most of your questions. If, however, you still have questions after reviewing that information, please feel free to give me a call at 251-236-9868. If I am unable to answer your questions, I will put you in touch with those who will be able to do so.

Thanks very much for your interest in Derrick Corporation. If I do not hear from you in the meantime, I look forward to getting your feedback at the November CFO Society meeting.

Yours sincerely,
H Reddfield
Chief Finance Manager

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