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China Tire E-Commerce.com Announcement

15 December 2000

China Tire E-Commerce.com Announcement

    HONG KONG, Dec. 15 The Board of China Tire e-commerce.com
Limited ("China Tire" or the "Company") announced that Mr. Michael
A. Goldberg ("Mr. Goldberg") was appointed as an independent director of the
Company with effect from 14th December, 2000.
    Mr. Goldberg is the Herbert R. Fullerton Professor of Urban Land Policy in
the Faculty of Commerce and Business Administration at the University of
British Council.  He was Dean of the Faculty and Executive Director, IFC
Vancouver, a provincially sponsored body promoting Vancouver as an
international finance centre.  Mr. Goldberg currently serves and has served,
in several capacities, on numerous corporate boards and organizations:  Chair
and Governor of the Real Estate Foundation, Commissioner of the British
Columbia Housing Management Commission, Member of the Deposit Insurance
Advisory Group on International Trade in Financial Services, Director of
Redekop Properties (current director), Vancouver Land Corporation (past
director), and Impark (past director).
    The board further announced that Mr. Yap, Allan ("Mr. Yap") resigned as a
director and the Vice-Chairman of the Company with effect from 14th December,
2000.
    The board would like to take this opportunity to welcome Mr. Goldberg to
the board and extends its appreciation to Mr. Yap for his past contribution to
the Company.

    The board further announced that on 14th December, 2000 the Company had
approved the adoption of the Charter of the Auditor Committee and established
an audit committee to monitor the integrity of the Company's financial
statements, the Company's compliance with legal requirements and the
independence and performance of the Company's internal and external auditors
and to review and consider all transactions between the Company and related
parties.  Audit Committee consists of Mr. Richard Whittall, Mr. Terence Hui
and Mr. Michael A. Goldberg who are independent directors of the Company to
serve on such committee at the discretion of the Board of Directors and until
their successors are appointed.

    Hong Kong                                New York
    China Tire e-commerce.com Limited        Citigate Dewe Rogerson Inc.
    Tel:  852-2372 0130                      Tel:  212-688 6840
    Fax:  852-2810 6982                      Fax:  212-838 3393