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China Tire Holdings Limited Announces Appointment of Director

1 June 2000

China Tire Holdings Limited Announces Appointment of Director

    HONG KONG, June 1 The board (the "Board") of China Tire
Holdings Limited (the "Company") announces the appointment of Mr.
Tang Wei, Donald ("Mr. Tang") as an independent director of the Company with
effect from 31st May, 2000.
    Mr. Tang is a Senior Managing Director, Head of the Chicago office, and a
member of the Board of Directors of Bear, Stearns & Co., Inc. He has extensive
worldwide experience in financial capital throughout Asia and the Pacific and
in North America, western Europe, Canada and Mexico.
    The Board would take this opportunity to express its warm welcome to the
joining of Mr. Tang and look forward to his invaluable advice to the Board.