1. Aligned with \rightarrow
You can align it with the \rightarrow as such:

Notes:
- You can use
align* so that you don't need to add \nonumber to each line.
- Usually you would not want to put the alignment at the beginning of the first term, so I have moved it to be before the
\rightarrow.
2. Centered with \rightarrow:
A better solution is to use \makebox to get the vdots centered within the space of the \rightarrow:

Notes:
- This requires the use of the
calc package.
- This has the benefit that no manual guessing of spacing is required. Hence, this solution can easily be adapted to other cases.
3. Centered with \rightarrow (with other enhancements)
I have provided another version which:
Incorporates Werner's recommendation of using Consistent typography by defining a \nat macro.
Incorporates egreg's recommendation to eliminate the space prior to the comma.
This yields:

Code: aligned with \rightarrow
\documentclass[12pt,letter]{report}
\usepackage{amsmath}
\begin{document}
\begin{align}
X_{1} &\rightarrow\mathcal{N}\left(A\right) \nonumber \,,\\
X_{2} &\rightarrow\mathcal{N}\left(B\right) \nonumber \,,\\
&\vdots \nonumber
\\X_{A-1} &\rightarrow\mathcal{N}\left(C\right) \nonumber\,, \\
X_{A} &\rightarrow\mathcal{N}\left(D\right) \nonumber \,, \\
X &\rightarrow\mathcal{N}\left(E\right)\,.
\end{align}
\begin{align*}
X_{1} &\rightarrow\mathcal{N}\left(A\right) \,,\\
X_{2} &\rightarrow\mathcal{N}\left(B\right) \,,\\
&\vdots \nonumber
\\X_{A-1} &\rightarrow\mathcal{N}\left(C\right) \,, \\
X_{A} &\rightarrow\mathcal{N}\left(D\right) \,, \\
X &\rightarrow\mathcal{N}\left(E\right)\,.
\end{align*}
\end{document}
Code: centered with \rightarrow
\documentclass[12pt,letter]{report}
\usepackage{amsmath}
\usepackage{calc}
\begin{document}
\begin{align*}
X_{1} &\rightarrow\mathcal{N}\left(A\right) \,,\\
X_{2} &\rightarrow\mathcal{N}\left(B\right) \,,\\
&\makebox[\widthof{${}\rightarrow{}$}][c]{\vdots}
\\X_{A-1} &\rightarrow\mathcal{N}\left(C\right) \,, \\
X_{A} &\rightarrow\mathcal{N}\left(D\right) \,, \\
X &\rightarrow\mathcal{N}\left(E\right)\,.
\end{align*}
\end{document}
3. Code: centered with \rightarrow (with other enhancements)
\documentclass[12pt,letter]{report}
\usepackage{amsmath}
\usepackage{calc}
\newcommand{\nat}[1]{\mathcal{N}(#1)}
\begin{document}
\begin{align*}
X_{1} &\rightarrow \nat{A}, \\
X_{2} &\rightarrow \nat{B}, \\
&\makebox[\widthof{${}\rightarrow{}$}][c]{\vdots} \\
X_{A-1} &\rightarrow \nat{C}, \\
X_{A} &\rightarrow \nat{D}, \\
X &\rightarrow \nat{E}.
\end{align*}
\end{document}
epsfig, it's an obsolete package. Don't use\leftand\rightin that context: it just makes the formula worse. I never leave space before commas in math. – egreg Dec 05 '12 at 22:43\mathcal{N}(...). For example,\newcommand{\nat}[1]{\mathcal{N}(#1)}and then use\nat{A},\nat{B}, ... See Consistent typography. – Werner Dec 05 '12 at 22:48\vdotsin a system of many equations. – Werner Dec 05 '12 at 22:54