General Announcement

Company Name

:

IRE-TEX CORPORATION BERHAD

Stock Name

:

IRETEX

Date Announced

:

02/06/2006

Type

:

Announcement

Subject

:

NOTICE OF FOURTH ANNUAL GENERAL MEETING

Contents:

IRE-TEX CORPORATION BERHAD. (576121-A)

(Incorporated in Malaysia)

NOTICE OF ANNUAL GENERAL MEETING

NOTICE IS HEREBY GIVEN THAT the Fourth Annual General Meeting of Ire-Tex Corporation Berhad will be held at the Training Room of Ire-Tex Corporation Berhad factory premises, Ground Floor, Plot 118, Jalan Perusahaan, Bukit Tengah Industrial Park, 14000 Bukit Mertajam, Penang on Tuesday, 27 June 2006 at 10.00 a.m. for the following purposes :-

AS ORDINARY BUSINESSES

1.

To receive and adopt the audited financial statements for the financial year ended 31 December 2005 together with the Reports of the Directors and Auditors thereon;

Ordinary Resolution 1

2.

To re-elect the following Directors who retire in accordance with Article 95 of the Company's Articles of Association and being eligible offer themselves for re-election:-

i) Raja Said Abidin Bin Raja Shahrome

ii) Fazrin Azwar Bin Md. Nor

iii) Timothy Ian O'Hearn

Ordinary Resolution 2

Ordinary Resolution 3

Ordinary Resolution 4

3.

To approve the payment of Directors' fees of RM108,000.00 for the financial year ended 31 December 2005;

Ordinary Resolution 5

4.

To appoint Messrs. JB Lau & Associates as auditors of the Company in place of the retiring auditors, Messrs. BDO Binder, and to hold office until the conclusion of the next Annual General Meeting and that the Directors be authorised to determine their remuneration.

Ordinary Resolution 6

AS SPECIAL BUSINESSES

5.

To consider and, if thought fit, to pass with or without modifications the following resolutions as Ordinary Resolutions :-

Authority To Issue Shares Pursuant to Section 132D of the Companies Act, 1965

"That pursuant to Section 132D of the Companies Act, 1965, and subject to the approvals of the relevant Governmental and/or regulatory authorities, the Directors be and are hereby empowered to issue shares in the Company, from time to time upon such terms and conditions and for such purposes and to such person or persons whomsoever as the Directors may, in their absolute discretion, deem fit, provided that the aggregate number of shares issued pursuant to this resolution in any one financial year does not exceed 10% of the issued share capital of the Company for the time being and that the Directors be and are also empowered to obtain the approval from Bursa Malaysia Securities Berhad for the listing of and quotation for the additional shares so issued and that such authority shall continue in force until the conclusion of the next Annual General Meeting of the Company."

Ordinary Resolution 7

Proposed Renewal and new Shareholders' Mandate for Recurrent Related Party Transactions of a Revenue or Trading Nature

"THAT subject always to the Listing Requirements of Bursa Malaysia Securities Berhad, approval be and is hereby given to the Company's subsidiaries to enter into all arrangements and/or transactions as detailed in Section 2.2(b) of the Circular to Shareholders dated 5 June 2006 involving the interests of Directors, major shareholders or persons connected with such Directors or major shareholders of the Company ("Related Parties") as detailed in Section 2.2(b) of the Circular to Shareholders dated 5 June 2006, provided that such arrangements and/or transactions are:-

(i) recurrent transactions of a revenue or trading nature;

(ii) necessary for the day-to-day operations; and

(iii) carried out in the ordinary course of business and are made on an arm's length basis on normal commercial terms which are not more favourable to the Related Parties than those generally available to the public and not to the detriment of the minority shareholders of the Company.

(the "Proposed Shareholders' Mandate")

THAT the Proposed Shareholders' Mandate is subject to annual renewal and shall continue to be in force until:-

(a) the conclusion of the next annual general meeting ("AGM") of the Company at which such Proposed Shareholders' Mandate was passed, at which time it will lapse, unless by a resolution passed at the meeting, the authority is renewed;

(b) the expiration of the period within which the next AGM after that date is required to be held pursuant to Section 143(1) of the Companies Act, 1965 (but shall not extend to such extension as may be allowed pursuant to Section 143(2) of the Act); or

(c) revoked or varied by resolution passed by the shareholders in general meeting,

whichever is the earlier.

AND THAT the Directors of the Company be and are hereby authorised to complete and do all such acts and things as they may consider expedient or necessary to give effect to the Proposed Shareholders' Mandate."

Ordinary Resolution 8

6.

To consider any other business for which due notice shall have been given in accordance with the Companies Act, 1965.

By order of the Board

Lim Kim Teck

Teh Ai Geik @ Teh Ai Gek

Secretaries

Penang

Date : 5 June 2006

Explanatory Notes on Special Businesses

Ordinary Resolution 7 - Authority To Issue Shares Pursuant to Section 132D of the Companies Act, 1965

The proposed resolution 7, if passed, will empower the Directors of the Company to issue shares in the Company from time to time and for such purposes as the Directors consider would be in the interest of the Company. This would avoid any delay and costs in convening a general meeting to specifically approve such issue of shares. This authority will, unless revoked or varied by the Company in General Meeting, expire at the conclusion of the next Annual General Meeting of the Company.

Ordinary Resolution 8 - Proposed Renewal and New Shareholders' Mandate for Recurrent Related Party Transactions of a Revenue or Trading Nature

The proposed resolution 8 in relation to the Proposed Renewal and New Shareholders' Mandate for Recurrent Related Party Transactions of a Revenue or Trading Nature which is to be reviewed annually will eliminate the requirement for the Company to make regular announcements and convene separate general meetings from time to time in respect of the aforesaid Related Party Transactions.

Notes:
1. A member entitled to attend and vote at the meeting is entitled to appoint a proxy or proxies to attend and vote in his stead. A proxy need not be a member of the Company and Section 149(1)(a) and (b) of the Companies Act, 1965 shall not apply to the Company.

2. Where a member appoints more than one (1) proxy to attend the same meeting, the member shall specify the proportion of his shareholdings to be represented by each proxy, otherwise the appointment shall be invalid.

3. The instrument appointing a proxy shall be in writing under the hand of the appointer or of his attorney duly authorised in writing, or if the appointer is a corporation, either under its seal or under the hand of an officer or attorney duly authorised.

4. The instrument appointing a proxy must be deposited at the Registered Office of the Company at 14A, Jalan Todak 3, Pusat Bandar, Bandar Seberang Jaya, 13700 Seberang Jaya, Prai not less than forty eight (48) hours before the time appointed for holding the meeting or any adjournment thereof.