Brilliance China Automotive - Comments on Arrest Warrant for Executive

HONG KONG, Oct. 23, 2002 The trading of the ordinary shares of Brilliance China Automotive Holdings Limited on the Stock Exchange of Hong Kong Limited was suspended today in order to allow the Company to address (i) the effect of the recent notification to the directors of the Company that a warrant has been issued by the Procuratorate of Liaoning Province for the arrest of the Company's former Chairman, Mr. Yang Rong, for his suspected involvement in economic crimes and (ii) certain allegations made by Mr. Yang Rong in Chinese language media articles regarding the Company's largest shareholder, the Chinese Financial Education Development Foundation (the "Foundation").

The Company has confirmed that the Foundation continues to hold a 39.45% interest in the ordinary shares of the Company. The Company further confirms that, owing to Mr. Yang Rong's lack of involvement in any affairs of the Company or its subsidiaries since his removal from the chairmanship of the Company in June 2002, Mr. Yang's personal affairs are not expected to have any effect on the management, business or operations of the Company or its subsidiaries. In addition, none of the directors of the Company are aware of any investigation into the affairs of the Company or any other director of the Company relating to the criminal allegations against Mr. Yang Rong. Mr. Yang Rong still currently holds the title of executive director of the Company.

The Company expects trading of its ordinary shares on the Stock Exchange of Hong Kong Limited to resume at the start of trading at 9:30 a.m. on October 24, 2002.

The Company, incorporated in Bermuda, was established in 1992 to own a 51% interest in Shenyang Automotive, a Sino-foreign joint venture enterprise established in 1991. Shenyang Automotive, located in Shenyang, the capital of Liaoning Province and the commercial centre of northeastern region of China, is the leading manufacturer and distributor of minibuses in China. The Company was the first with operations solely in China to list directly on the New York Stock Exchange.