WTA Announces Dividend, New License Agreements

22 December 2000

WTA Announces Dividend, New License Agreements

    EL CAJON, Calif.--Dec. 21, 2000--World Transport Authority Inc. (WTA) (OTCBB:WTAI)(Frankfurt:920943) announced today that it is issuing a dividend to its shareholders.
    The dividend issuance complies with a resolution dated June 6, 2000, and will be in the form of one share of Pan American Automotive Corp. (PAAT) common stock per one share owned of WTAI. The recordation date will be Feb. 14, 2001.
    Lyle Wardrop, CEO and president, stated: "We are excited about rewarding our shareholders in this fashion. They have relied on our business plan, believed in our concept, and have stood by us through a lengthy Research and Development phase. Now that we are making the transition into having operational factories producing WorldStar vehicles, our shareholders have the opportunity to reap some of the rewards for their patience."
    WTA's founders identified the need for an inexpensive, rugged utility vehicle for developing nations around the world. WTA has designed a vehicle capable of the same favorable economic impact on developing nations as the Ford Model T had for the United States and the Volkswagen Beetle had for Europe.
    WTA will possess the number of shares required for the dividend based on three new transactions with PAAT. PAAT, the current Master License Holder for the nation of Costa Rica, is exercising its option on the countries of Nicaragua, Honduras, Guatemala, El Salvador and Belize. The payment for the option will be satisfied with 1,000,000 shares of Pan American Automotive stock.
    PAAT is also executing a Master License agreement for the nation of Mexico, valued at two million U.S. dollars ($2,000,000), for which it will issue to WTA 4,000,000 shares of Pan American Automotive Stock. PAAT is also executing a Master License agreement for the Caribbean island nations, valued at one million U.S. dollars ($1,000,000), for which it will issue to WTA 2,000,000 shares of Pan American Automotive stock.
    Finally, PAAT announced today that it would execute a 5:1 forward split of shares on Jan. 23, 2000.
    WTA Investor Relations Manager Michael Keller stated: "We invite our investors to come visit our facility here in California and see our operations, or to call us with any questions they might have about World Transport Authority. We feel we have a great product and a great business plan, and the feedback we recently have received from investors shows that they are excited, too."