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THERMALTEC
INTERNATIONAL
68A LAMAR STREET
W. BABYLON, NY l1704
PH: 516-643-2285
FAX: 516-643-2514
[GRAPHIC OMITTED]
NON SOLUM SOCIETAS
SED DEDICATIO
November 9, 1999
Re: Approval of Dividend of Common Stock of
Panama Industries, Ltd on the Common Stock
Dear Shareholder:
I am writing to inform you that Thermaltec International, Corp. (the "Company")
has received written consents executed by the holders of more than 56% of the
outstanding shares of the Company's Common Stock, approving a dividend of all of
the outstanding shares of Common Stdck of the Company's wholly-owned subsidiary,
Panama Industries, Ltd., a Delaware corporation, on the Common Stock of the
Company payable to shareholders of record as of the close of business on
May 28, 1999, on a one for one basis, to be paid immediately prior to the
completion of the merger of Solar Communications Group, Inc., a New Jersey
corporation ("Solar") with and into the Company. The Board of Directors
previously adopted a resolution authorizing the dividend.
As required by the provisions of the Delaware General Corporation Law, the
Company is hereby notifying all non-consenting Company shareholders that it has
received the necessary shareholder approvals. The effective date for shareholder
approval of the dividend was November 4, 1999.
The Company currently anticipates the calling of a special meeting of the
shareholders of the Company to vote upon a proposal to approve and adopt an
Agreement and Plan of Reorganization by and among the Company, Solar and
Andrew B. Mazzone. You will be receiving further information from the Company
concerning this meeting in the near future.
For informational purposes, a copy of this notice is also being mailed to each
Company shareholder who consented to the dividend. Management of the Company
sincerely thanks you for your support.
Very truly yours,
/s/ Andrew B. Mazzone
Andrew B. Mazzone
President
