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WTA Signs Master License for Guinea; First Female Owner

25 September 2000

WTA Signs Master License for Guinea; First Female Owner

    EL CAJON, Calif., Sept. 22 World Transport Authority
(OTC Bulletin Board: WTAI; Frankfurt: POH).  World Transport Authority, Inc.
(WTA) is pleased to announce that it has signed a Master License with African
American Motors, Ltd., effective September 20, 2000 for the supply of
factories and automotive components to assemble the WorldStar vehicle in the
Republic of Guinea.
    Senior Vice President Joseph W. Parker and Madame Sidibe M'Mah signed the
contract in WTA's Washington DC office.  Madame Sidibe is Chairperson of
African American Motors, Ltd. in Conakry, Guinea.  With her signature, she
becomes WTA's first female Master License owner.
    "I am so pleased to be affiliated with WTA, and to have the opportunity to
build and sell the WorldStar(TM) in my country," stated Madame Sidibe after
the contract signing.  "My country has such a pressing need for simple,
strong, inexpensive vehicles.  Moreover, we need industrial development and
jobs.  WorldStar(TM) will be the first automobile ever assembled in Guinea,
and we will sell them for much less than imported vehicles."
    According to Senior VP Joseph W. Parker, the contract will generate
approximately $1.5M in annual revenues for WTA.  "In many ways this contract
is more significant than larger contracts announced recently.  Guinea is
exactly the kind of country for the WorldStar(TM) vehicle design and
manufacturing system.  No other automotive manufacturer could justify the
economics of a manufacturing facility there, let alone an $8,000 MSRP for the
vehicle.  Madame Sidibe will do it, and do it profitably."
    Mr. Simeon Nnah, President of African American Motors, Ltd. explained the
company's market strategy: "We plan to start with a single production line,
and build our business from there.  The 324-vehicle production line capacity
represents almost one third of the country's annual new vehicle sales.  The
WorldStar(TM) price is actually lower than most of the 3,000 used cars
imported annually into Guinea.  We believe most of the used car customer base
will want a new WorldStar(TM) for less cost than a ten-year-old import."
    Guinea has a population of approximately seven million, and is the world's
second largest high-grade bauxite producer.  Eighty percent of the population
is engaged in agriculture.  Guinea also exports diamonds and gold.  Despite
this, the country's economy requires significant diversification and
development.