CHINA TIRE HOLDINGS LIMITED

CHINA TIRE HOLDINGS LIMITED: REPORT OF THE ANNUAL GENERAL MEETING; SECOND QUARTER DIVIDEND PAYMENT; CHANGE OF OFFICERS

HONG KONG, June 16 /PRNewswire/ -- China Tire Holdings Limited ("China Tire" or the "Company") (NYSE NYSE

See: New York Stock Exchange : TIR TIR International Road Transport [French Transports Internationaux Routiers] ) held its second Annual General Meeting in Hong Kong on May 29, 1995 where the shareholders of the Company unanimously voted for all the proposals of the Company.

On June 30, 1995, China Tire will pay second quarter dividend of US$0.02 per share of Common Stock. For the purpose of ascertaining the shareholders eligible to receive such dividend, the record date has been set for June 16 1995.

Change of Officers

Mr. Ong Hai Siew, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the Company, has retired from the Company effective, today. While Mr. Ong will remain as a non-executive director of the Company, the post of President and CEO will be assumed by the current Chairman of the Company, Mr. Oei Hong Leong.

The 8 members of the Board of Directors are:

Mr. Oei Hong Leong, Chairman, President & CEO

Mr. Chung Cho Yee, Mico, Director & Senior Vice President

Mr. Michael Chen, Director, Finance Director & CFO See Chief Financial Officer.
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Mr. Ong Hai Siew, Director

Mr. Nicholas G. Clarke, Director

Mr. William E. Lemmon, Director

Mr. Kan Sung Chee, Philip, Director (Independent)

Mr. David M. Norman, Director (Independent)

The directors of the Company are pleased to announce the appointment of Mr. Tai Sheng Hsuin as the Senior Executive Vice President and Chief Operating Officer Chief Operating Officer (COO)

The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of China Tire in place of Mr. Soo Khoon York.

Mr. Tai, aged 55, joins China Tire from one of Taiwan's foremost tire companies, Federal Tires, where he has worked as a Factory General Manager and more recently, as Special Assistant to the Chairman of Federal Tires. Mr. Tai is a First-Grade Tire Specialist and has over 30 years experience in the tire industry. Mr. Tai will be responsible for the operations of China Tire's six factories. Mr. Tai is well-versed in both bias and radial tire technologies from Sumitomo Tires and Dunlop Tires.

In addition Mr. Tony Cheung, previously Senior Vice President, and Mr. Richard Lui, previously Chief Financial Officer, of the Company have resigned from their respective posts effective today. Replacing Mr. Richard Lui will be Mr. Michael Chen, the Finance Director of the Company.

China Tire is the largest automobile and truck tire producer in China, with annual production of 5.2 million units of tires in 1994 and a market share of 11%. The Company is a Bermuda incorporated holding company with majority interests in six tire manufacturing operations in the People's Republic of China. China Tire also has majority interests in a synthetic nylon tire cord plant in the PRC and two international marketing companies. China Tire's majority shareholder with 83% voting rights is China Strategic Holdings Limited, a Hong Kong listed investment holding company.

NOTE: The U.S. dollar convenience translation amounts have been translated using the unified exchange rate quoted by the Bank of China on December 31, 1994 of U.S.$1.00 = Rmb 8.44. No representation is made that the Renminbi amounts could have been, or could be, converted into U.S. dollars at that rate on December 31, 1994 or at any other certain date.

-0- 6/16/95



/CONTACT: Mico Chung or Emi Yamazaki of China Tire Holdings Limited, in Hong Kong, 852-2514-0300, or Fax: 852-2537-6591; or Cathleen Mayrose or Corey Cutler of Dewe Rogerson Inc., in New York, 212-688-6840, or Fax: 212-838-3393/

(TIR)

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