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China Tire Holdings Limited Declares Quarterly Dividend of US$0.02 Per Share

30 August 1999

China Tire Holdings Limited Declares Quarterly Dividend of US$0.02 Per Share

    HONG KONG, Aug. 30 -- The Board of China Tire Holdings
Limited declared on August 30, 1999 a quarterly dividend of
US$0.02 per share of Common Stock and Supervoting Common Stock will be paid on
September 30, 1999.
    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-fourth 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 September 16, 1999.