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Composite Automobile Research Limited Makes Announcement

24 November 1998

Composite Automobile Research Limited and Its Wholly Owned Subsidiary World Transport Authority Inc.

    EL CAJON, Calif.--Nov. 23, 1998--World Transport Authority Inc., (OTC BB:CARHF) and CBN World Star Inc. announces the following:
    The companies have terminated their relationships and business plans involving World Star Asia Inc. originally announced June 18, 1998. In July CBN World Star Inc. had sold all its the issued and outstanding shares to World Star Asia Inc. CBN also conveyed its interest in the Master License (for the sale of sub-licenses to manufacture and distribute the World Star line of utility vehicles) and; a second license to build a mold building factory in the Philippines.
    The companies have reevaluated this sale and have entered into agreement to unwind the foregoing transactions with the original parties. The companies have received majority stockholder approval in connection with these decisions. The companies are in the process of looking for new business opportunities. Further information will be released as matters develop.
    Composite Automobile Research Limited is the only company in the world that continues to address the developing nations' needs for an inexpensive utility vehicle, built and serviced within their own borders.

Composite Automobile Research Limited

Thomas Bowers President


    The SEC and NASD have not reviewed and does not accept responsibility for the adequacy or accuracy of this release.