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China Tire e-commerce.com Limited

11 October 2000

China Tire e-commerce.com Limited

    HONG KONG, Oct. 11 The Board of China Tire e-commerce.com
Limited ("China Tire") referred to the press releases of October 3
and October 9, 2000 and announced that China Internet Global Alliance Limited
("CIGA"), the controlling shareholder of China Tire, had been informed by Mr.
Oei Hong Leong ("Mr. Oei") that he and his associates had disposed of all
shares in CIGA on 11th October, 2000.
   The board further announced that Mr. Oei, Ms. Ma Wai Man, Catherine ("Ms.
Ma") and Mr. Michael Chen ("Mr. Chen") resigned as directors of the Company
with effect from 11th October, 2000 and that Mr. Chan Kwok Keung, Charles, Mr.
Allan Yap and Ms. Dorothy Law were appointed as directors of the Company with
effect from 11th October, 2000.  Ms. Ma and Mr. Chen remain respectively to be
the Secretary and the Chief Financial Officer of the Company