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WTA Worldstar Picked By U Of Texas For Four-Wheel Drive Conversion Kit

30 June 1999

WTA Worldstar Vehicle Picked By University Of Texas For Four-Wheel Drive Conversion Kit

    EL CAJON, Calif.--June 29, 1999--World Transport Authority (WTA), a wholly-owned subsidiary of Composite Automobile Research, Ltd. (OTC BB: CARHF) announced today it is entering a collaborative effort with University of Texas researchers to develop a kit to convert an existing two-wheel drive vehicle to a four-wheel-drive, electric hybrid vehicle. The cooperative research and development project is proposed to be funded by a grant from Advanced Research Program/Advanced Technology Program of Texas Higher Education.
    University of Texas Associate Professor Dr. John Eftekhar, Fellow of the American Society of Mechanical Engineers, and WTA Engineers will work to perfect the conversion kit. The goal of the project is to convert the WorldStar vehicle to a parallel four-wheel electric hybrid vehicle for less than $5,000. The converted vehicle will provide the option of operating as a two-wheel-drive, conventional, two-wheel-drive electric, or a four-wheel-drive hybrid electric vehicle.
    WTA is providing a test vehicle to researchers and will have access to all resultant patents and intellectual property from the project.
    World Transport Authority is the designer and manufacturer of the WorldStar Vehicle. The vehicle, in four configurations, represents four years and $3.44-million of investment in research and development to produce a highly resilient composite automobile that can be easily manufactured using locally available labor in emerging-world nations. The vehicles are produced under distributed manufacturing licensing agreements with local entrepreneurs in the nations in which the vehicles are sold.
    Standardization and quality control are built-in to the "cookie-cutter" facilities delivered to site locations "ready-to-install," under the supervision of WTA engineers who train key personnel in all facets of manufacturing of the unique automobiles. The Company provides ongoing training and management information support to the local factories, and controls all inventory delivery of raw materials and component parts.
    The Company is strategically positioned to satisfy the rapidly emerging requirement for reliable transportation in geographic regions ignored by major auto manufactures such as Ford , Chrysler , and General Motors .
    WTA has completed its research and development cycle and is operationally profitable entering its production and marketing stage. The Company has no debt.
    Composite Automobile Research, Ltd. and World Transport Authority are profiled on the premier investor information site, Market Infocom (www.market-infocom.com).
    This press release contains forward-looking statements within the definition of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are based on the beliefs of the Company's management as well as on assumptions made by and information currently available to the Company at the time such statements were made. Actual results could differ materially from those included in such forward-looking statements.