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Composite Automobile Readies Factory Shipment to Colombia

24 March 1999

Composite Automobile Research Ltd. Readies Factory Shipment to Colombia

    EL CAJON, Calif.--March 24, 1999--Composite Automobile Research Ltd. (OTC BB:CARHF) and its wholly owned subsidiary World Transport Authority Inc. announced today the receipt of the initial contract payment by WorldStar Panama-Andino, The WTA Master License owner for the nations of Colombia, Ecuador, Panama and Venezuela.
    The payment ratifies the agreement to ship March 29, 1999 of the first factory components containers and demonstration vehicles to Cali, Colombia the site of the WorldStar Paez Manufacturing & Distribution Facility. Additional shipments will be made on April 14 and the 29, 1999.
    During the firstweek in April, Colombian technicians will arrive at the WTA El Cajon headquarters facility for an intensive 5 1/2 week training session. At the conclusion of the training session, several WTA Advisory Technicians will accompany the Colombians to Cali for the installation to be completed by May 21, 1999. Deliveries of the first Colombian-produced WorldStar vehicles will be made from this factory. The initial factory will produce one vehicle per shift day or 324 vehicles per year. WorldStar Panama-Andino, the WTA Master License owner, intends to expand production to 648 vehicles per year by the fourth quarter 1999 and to 973 vehicles per year end 1999.
    WTA also announced that the WorldStar line of utility vehicles will be presented in the New Car Dealers Associations' International Auto Show. This is the seventh largest automobile show in the world held this year on March 31 to April 4, 1999 at the San Diego Convention Center. Rodger Ward, vice president of public relations for WTA, and two time Indy 500 winner, will host the introduction of the WTA 11 passenger taxi model.
    For further information, please see our Web site at WWW.WTAWorldStar.com or contact Public Relations at World Transport Authority Inc., 635 Front Street, El Cajon, CA 92020 619/444-7254.

    This statement contains forward-looking information and should not be used for investment decision making.