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China Tire Holdings Limited Declares Quarterly Dividend

24 November 1998

China Tire Holdings Limited Declares Quarterly Dividend

    HONG KONG, Nov. 24 -- The Board of China Tire Holdings
Limited declared on November 24, 1998 a quarterly dividend of
US$0.02 per share of Common Stock and Supervoting Common Stock which will be
paid on December 31, 1998.
    The Company has paid quarterly dividends on a regular basis since its IPO
(Initial Public Offering) on the New York Stock Exchange in July 1993.  This
is the twenty-first time China Tire has declared a quarterly dividend.
    For the purpose of ascertaining the shareholders eligible to receive such
dividend, the record date has been set for December 16, 1998.