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Composite Automobile Research Ltd. Announces Election

21 October 1998

Composite Automobile Research Ltd. Announces Election of New President


    SAN DIEGO--(AutomotiveWire)--Oct. 21, 1998--Composite Automobile Research LTD. (OTC BB:CARHF) Chairman, Lyle Wardrop, announced today the election of Thomas Bowers III as president, chief executive officer and board member of CARHF.
    Bowers for the last 10 years has been chairman and CEO of the international projects firm of the GULFPAC Companies. Bowers has extensive long-term business and political relationships worldwide.
    Bowers was quoted as saying, "In my entire business career this is the most exciting project I have ever seen. I am absolutely delighted with the opportunity to take this company into the 21st century. We are the only company in the world that can make an underdeveloped country into a local in-country quality automobile-manufacturing nation. We have done exactly this. We have achieved this in Mexico and the Philippines. Our mission is to make the other 187 similar countries capable of manufacturing locally their own answer to their transportation needs."
    Composite Automobile Research LTD. is in the business of designing and building micro-manufacturing facilities to build its proprietary line of utility vehicles in the emerging nations of the world. CARHF has a wholly owned subsidiary, World Transport Authority Inc., which operates its U.S. design center, Master Factory Facility and administers the worldwide marketing effort.
    CARHF has completed its original business plan. A line of utility vehicles, that can be manufactured with semi-skilled local labor of emerging nations, has been designed. The design has been proven in the vehicles that have been built. The factory to build the vehicles has been designed, sold, and installed in a foreign nation. The vehicles are being built by semi-skilled local labor in a foreign nation.
    The ability and capacity of CARHF to duplicate the sale of the master license for a country and the manufacturing and distribution sub-licenses has been demonstrated by the sale to World Star Asia Inc., the WTA Master License holder for the Republic of the Philippines. World Star Philippines, also has purchased a special master factory license and the equipment for a facility to manufacture micro-manufacturing facilities for the additional manufacturing and distribution license holders in the Philippines.
    To fully demonstrate the ability of World Transport Authority Inc., to duplicate the sale of a master license for another foreign nation, as had occurred in Mexico, a master license for the Republic of the Philippines was sold. World Star Philippines has purchased the master license for "the Asian Theatre."
    A very interesting add-on to the standard master license agreement for the World Star Philippines sale is the additional purchase of a license to manufacture the micro-manufacturing plants for the sub-license sales in the Philippines.
    This agreement places the World Star Phillipines facilities in the forefront of the Pacific Rim expansion plans of CARHF, especially in Southeast and East Asia. The ability to demonstrate our factories in a production environment in close proximity to other developing nations is a tremendous plus. This also provides a huge bonus to other buyers of master licenses for other nations for the training of their key management personnel in a compatible real world situation.
    The reception of the WorldStar Utility Vehicle has been truly amazing. The Philippine national and local governments have assisted World Star Philippines' effort in every way to move quickly in gaining approvals, permits and licenses to establish micro-manufacturing facilities in the LDAs (Lesser Developed Areas) throughout the country.
    A division of the Philippine military through their co-operative arm has entered into a Letter of Intent with World Star Philippines to joint venture to manufacture the WorldStar Utility Vehicle for use by the armed forces, police and certain utilities in the Republic of the Philippines. This fortuitous event has the potential to provide World Star Philippines with orders for more than 5,200 WorldStar Utility Vehicles.
    World Transport Authority Inc. has developed a very good network of foreign national entrepreneurs who have a wide array of business and political contacts of substance in the Americas, Asia and Africa. WTA has had worthy inquiries from more than 103 prospective nations.
    World Transportation Authority Inc., is in the business of selling national licenses on a global scale for the production of the WorldStar Utility Vehicles.
    Composite Automobile Research LTD has headquarters at 635 Front Street, El Cajon, Calif., 92020. The company may be reached at 888/468-2810 or 619/444-7254.