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PanAmerican Goes Public

15 August 2000

    EL CAJON, Calif. - Composite Automobile Research Ltd., through its wholly owned subsidiary World Transport Authority Inc (WTA) is pleased to announce that the common shares of PanAmerican Automotive Corporation (formerly Greenvolt Inc) will be quoted for trading on Wednesday, August 16, 2000.

    The trading symbol for the company is PAAT and the sponsoring brokerage firm is Equitrade Securities Corporation, located in Lake Forest, California.

    On March 28, 2000 WTA and PanAmerican entered into an agreement whereby PanAmerican agreed to purchase the Master License for the production of the WorldStar vehicle and enabling it to sell sub-licenses for the production of additional factories to produce the vehicles for the country of Costa Rica. Consideration for the purchase of the Master License was USD$800,000, satisfied by PanAmerican issuing 7,000,000 shares of its common shares to WTA at a cost of USD$.11 per share. Additionally PanAmerican was granted an option to purchase the Master Licenses for the countries of Nicaragua, Honduras, Guatemala, Belize and San Salvador for USD$500,000. This option was granted for a period of 18 months.

    PanAmerican Company director Michael E. Keller is quoted as saying, "We are very pleased to have our shares now quoted for trading. This should now give us access to the capital markets for the purpose of raising the necessary capital required to carry out our business plan for the Central American marketplace. We will now have the means in which to carry out additional acquisitions, as they become available to the corporation. PanAmerican is very pleased to have WTA as its major shareholder and looks forward to developing the opportunities it presently has and any new situations that may arise."

    WTA President and CEO Lyle Wardrop is quoted as saying, "We are extremely pleased with the most recent developments for our partner PanAmerican Automotive Corporation. We look forward to working closely with them and to helping them achieve the maximum success for their business in Costa Rica. Further to this, as we have announced in our company news release of June 6, 2000, it is the intention of WTA to issue 6,000,000 of the 7,000,000 shares that it has received for the purchase of the Master License for the country of Costa Rica as a dividend to our shareholders. This will be done once the company has received a Tax Opinion and is expected to occur on either December 31, 2000 or January 1, 2001. As I have been quoted as saying in the past, it is our pleasure to be able to reward all of our shareholders in this way whenever the opportunity presents itself."

    Composite Automobile Research Ltd. and World Transport Authority Inc. serve the emerging world's transportation needs through in country manufacturing facilities, utilizing local semi-skilled labor to produce the WorldStar line of utility vehicles.