RMB 300 Mln Loan Guarantee Signed

According to a resolution of the 2nd 2008 Extraordinary Meeting of Shareholders, the company recently signed a maximum loan guarantee contract with Shenzhen Development Bank, Shanghai branch to provide a joint liability guarantee on a RMB 300 mln loan for Shanghai General Automotive Financial Co., Ltd., in which Shanghai Automotive Group Finance Co., Ltd., a 98.59%-owned subsidiary of the company, holds a 40% stake. The guarantee will be effective 16 Oct 2008.

As of the date of this announcement, guarantees provided by the company total RMB 4.6 bln, and there are no guaranteed loans in arrears.

Board of Directors
16 Oct 2008


Source: Shanghai Stock Exchange

Date: 16 Oct 2008

CN01/RP/JL/BT/KM