Asia Automotive Acquisition Corporation Announces Unaudited Financial Results of Merger Partner for the Three and Nine Months Ended September 30, 2007

Q3 Revenue Increases 43% to $21.8 Million from $15.2 Million

Q3 Net Income Increases 39% to $2.5 Million from $1.8 Million at 9/30/2007

NEW YORK, Nov. 5 -- Asia Automotive Acquisition Corporation (BULLETIN BOARD: AAAC, AAACU, AAACW) ("AAAC"), announced today the unaudited financial results for the three and nine months ended September 30, 2007 for its merger partner, Hunan Tongxin Enterprise Co., Ltd. ("Tongxin") (see attached table). As previously announced on July 25, 2007, AAAC signed an Equity Acquisition Agreement with Tongxin pursuant to which Tongxin and AAAC will merge into a newly created British Virgin Islands company, Tongxin International, Ltd.

  For the three months ended September 30, 2007 Tongxin had:

  *  Revenue of approximately $21.8 million, an increase of 43% from $15.2
     million for the same period in the prior year;

  *  Operating income of approximately $4.1 million, an increase of 41%
     from $2.9 million for the same period in the prior year;

  *  Net income totaled approximately $2.5 million, an increase of 39% from
     $1.8 million for the same period the prior year.

  For the nine months ended September 30, 2007 Tongxin had:

  *  Net Income of $7.75 million, an increase of 102 % from $3.83 million
     for the same period in the prior year. Net income for the current
     period excludes one time costs of $230,000 for legal, accounting and
     audit fees associated with the proposed transaction with AAAC.

  *  EBITDA of $14.6 million, or 23.2% of net revenues.

  About the Company

AAAC is a blank check company organized in June 20, 2005 for the purpose of effecting a merger, capital stock exchange, equity acquisition or other similar business combination with one or more operating business within the global automotive component industry that have their primary operating facilities located in China, India or the Association of South Eastern Nations. AAAC's IPO went effective on April 12, 2006. On July 25, 2007, AAAC announced that it signed an Equity Acquisition Agreement pursuant to pursuant to which Tongxin and AAAC will merge into a newly created British Virgin Islands company, Tongxin International, Ltd.

Tongxin was established under the laws of the PRC on November 27, 1984 as Changsha Meihua Automobile Factory Co., Ltd. On November 2, 2000, Tongxin was converted into a stock holding company. Currently, Tongxin is the largest private Chinese independent supplier of Engineered Vehicle Body Structures. It is capable of providing exterior body panels for both passenger and commercial vehicles in addition to designing, fabricating and testing stamping dies for processing of body panels. Tongxin also manufactures complete cab structures for commercial vehicles.

Additional information regarding AAAC, Tongxin and Tongxin International is available in the Preliminary Proxy Statement that AAAC filed with the Securities and Exchange Commission on September 20, 2007. A copy of the filing in its entirety is available at www.sec.gov.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, about AAAC, Tongxin and their combined business and revenue expectations after completion of the proposed acquisition. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, based upon the current beliefs and expectations of AAAC's and Tongxin's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: business conditions in China; continued compliance with government regulations; legislation or regulatory environments, requirements or changes adversely affecting the businesses in which Tongxin is engaged; cessation or changes in government incentive programs: potential trade barriers affecting international expansion; fluctuations in customer demand; management of rapid growth and transitions to new markets; intensity of competition from or introduction of new and superior products by other providers of distributed automotive engineered vehicle body structures; timing, approval and market acceptance of new product introductions; general economic conditions; geopolitical events and regulatory changes, as well as other relevant risks detailed in AAAC's BVI subsidiary, Tongxin International's filings with the Securities and Exchange Commission, and the Preliminary Proxy Statement (Reg. No. 333-127755). The information set forth herein should be read in light of such risks. Neither AAAC nor Tongxin assumes any obligation to update the information noted within in this press release.

In connection with the pending transaction, AAAC has filed with the SEC a Preliminary Proxy Statement for the stockholders of AAAC. The stockholders of AAAC are urged to read the Preliminary Proxy Statement as well as all other relevant documents filed or to be filed with the SEC, because they will contain important information about Tongxin, Tongxin International, AAAC and the proposed transaction. The Definitive Proxy Statement will be mailed to stockholders of AAAC after the Preliminary Proxy Statement is declared effective by the SEC. AAAC stockholders will be able to obtain the Preliminary Proxy Statement, and any other relevant filed documents for free at the SEC's website (www.sec.gov). These documents can also be obtained for free from AAAC by directing a request to David J. Brophy c/o Asia Automotive Acquisition Corporation, 199 Pierce Street, Suite 202, Birmingham, MI 48009.

AAAC and their respective directors and officers may be deemed to be participants in the solicitation of approvals from AAAC stockholders in respect of the proposed transaction. Information regarding AAAC's participants is available in the Preliminary Proxy Statement.