China Enterprises Limited (formerly known as China Tire e-commerce.com Limited)

    HONG KONG, Sept 4 The Board (the "Board") of China
Enterprises Limited (the "Company") announces that Deloitte Touche
Tohmatsu ("Deloitte") have been appointed as the auditors of the Company in
place of Arthur Andersen & Co. ("A.A."), who retired at the Annual General
Meeting held on May 31, 2001, to hold office until the conclusion of the next
Annual General Meeting.

     For more information, please contact:

     Hong Kong                    New York
     China Enterprises Limited    Citigate Dewe Rogerson Inc.
     Tel: (852) 2372 0130         Tel: (212) 688 6840
     Fax: (852) 2810 6982         Fax: (212) 838 3393

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