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China Tire Holdings Limited Change of Principal Registrar

21 January 1999

China Tire Holdings Limited Change of Principal Registrar and Transfer Agent
    HONG KONG, Jan. 21 -- China Tire Holdings Limited ("China
Tire") announced today that due to structural changes of A.S. & K.
Services Limited ("AS&K"), the principal registrar and transfer agent of China
Tire in Bermuda will be changed from AS&K to Reid Management Limited, an
associated company of AS&K with effect from 31st March 1999.