China Automotive Systems Applies to List Its Common Stock on Nasdaq Small Cap Market

SHANGHAI, China, Oct. 17, 2003 -- China Automotive Systems (BULLETIN BOARD: CAAS) has applied to list its common stock on the Nasdaq Small Cap Market.

Acceptance of China Automotive Systems' application is subject to approval by Nasdaq.

China Automotive Systems is based in Shanghai, China. The company is a key supplier of power steering systems for Chinese automotive manufacturers. It is ranked No. 2 in the power steering segment in China with 20%-25% of that market. The company has a market capitalization of $100 million with 22 million shares outstanding.

For more information on China Automotive Systems, go to www.chinaautomotivesystems.com .

For further information, please contact Carl Thompson, Principal of CTA Public Relations, +1-303-665-4200, carl@ctapr.com , for China Automotive Systems.