Automotive Industry

LoJack Corp. to Present at Needham Growth Stock Conference on January 7

December 30, 2008 · Leave a Comment

WESTWOOD, Mass., Dec. 30 /PRNewswire-FirstCall/ — LoJack Corporation (Nasdaq: LOJN), the premier worldwide provider of tracking and recovery systems, announced today that Ronald V. Waters, President and Chief Executive Officer, will present at the 11th Annual Needham & Company, LLC Growth Stock Conference at The New York Palace Hotel in New York City on Wednesday, January 7, 2009 at 11:00 AM EST.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080512/NEM054LOGO )

LoJack will provide a live webcast of the Needham Conference presentation at http://www.wsw.com/webcast/needham27/lojn/. The webcast will also be archived and accessible through the investor relations page at www.lojack.com.

About LoJack

LoJack Corporation, the company that invented the stolen vehicle recovery market, leverages its superior technology, direct connection with law enforcement and proven processes to be the global leader in tracking and recovering valuable mobile assets. The company’s Stolen Vehicle Recovery System delivers a 90 percent success rate in tracking and recovering stolen cars and trucks and has helped recover more than $5 billion worldwide in stolen LoJack-equipped assets. The system is uniquely integrated into law enforcement agencies in the United States that use LoJack’s in-vehicle tracking equipment to recover stolen assets, including cars, trucks, commercial vehicles, construction equipment and motorcycles. Today, LoJack operates in 26 states and the District of Columbia, and in more than 30 countries throughout Europe, Africa, North America, South America and Asia.

From time to time, information provided by the company or statements made by its employees may contain “forward-looking” information, which involve risks and uncertainties. Any statements in this news release that are not statements of historical fact are forward-looking statements (including, but not limited to, statements concerning the characteristics and growth of the company’s market and customers, the company’s objectives and plans for future operations and products and the company’s expected liquidity and capital resources). Such forward-looking statements are based on a number of assumptions and involve a number of risks and uncertainties, and accordingly, actual results could differ materially. Factors that may cause such differences include, but are not limited to: the continued and future acceptance of the company’s products and services; the effectiveness of the company’s marketing initiatives; the rate of growth in the industries of the company’s customers; the presence of competitors with greater technical, marketing, and financial resources; the company’s ability to promptly and effectively respond to technological change to meet evolving customer needs; the extent of the company’s use of third party installers and distributors; capacity and supply constraints or difficulties; the company’s ability to successfully expand its operations and changes in general economic or geopolitical conditions. For a further discussion of these and other significant factors to consider in connection with forward-looking statements concerning the company, reference is made to the company’s Annual Report on Form 10-K for the year ended December 31, 2007.

The company undertakes no obligation to release publicly the result of any revision to the forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

    Contact:

    Paul McMahon
    Senior Director,
    Corporate Communications
    (781) 251-4130

    John Swanson
    Swanson Communications, Inc.
    (516) 671-8582

Categories: Uncategorized

Manitex International, Inc. Announces CE Certification of Its High Tonnage Boom Truck Cranes and Value-Added Product Enhancements for 50-ton Boom Truck

December 30, 2008 · Leave a Comment

BRIDGEVIEW, Ill., Dec. 30 /PRNewswire-FirstCall/ — Manitex International,
Inc. (Nasdaq: MNTX), a leading provider of engineered lifting solutions
including boom truck cranes, rough terrain forklifts and special mission
oriented vehicles, today announced the CE mark certification for its 40 and 50
ton boom truck cranes, opening the way for the distribution of these products
into central and eastern Europe. At the same time, the Company announced
availability of new value-added features that will be standard on its 50-ton
taxi cranes that will provide easier setup and better load management for the
sole operator. The jib-jack, offered as a standard value-added feature, will
lower operation and overhead costs for equipment operators and rental fleets
alike. Manitex has also added a “no-free-swing” option for the 50-ton product
specifically designed for oil field service and power grid applications.

Andrew Rooke, President and Chief Operating Officer of Manitex
International, commented, “The certification with the CE mark of our 40 and 50
ton cranes opens the European market to our distribution and provides
additional competitive support in markets where certification is preferred but
not mandatory. Direct marketing, as well as the identification of suitable
European dealers, has already commenced and we believe our cranes will provide
a competitive solution against European truck cranes traditionally used in
these territories. The announcement of enhancements to our 50 ton crane
expands the versatility of our products and effectively addresses the needs of
distributors and the equipments’ end-users in our marketplace. We want to help
our customers do business, and these features make it easier and more
profitable for them to operate our product, which will help their competitive
position particularly during this period of economic slowdown and uncertainty.
Standardizing these features strengthens our product lines and increases our
value as supplier to our dealers. We believe this also positions us to
increase our participation in the infrastructure build out initiatives that
are now being discussed as part of the proposed economic stimulus packages for
2009.”

About Manitex International, Inc.

Manitex International, Inc. is a leading provider of engineered lifting
solutions including cranes, rough terrain forklifts, indoor electric forklifts
and special mission oriented vehicles, including parts support. Our Manitex
subsidiary manufactures and markets a comprehensive line of boom trucks and
sign cranes through a national and international dealership network. Our boom
trucks and crane products are primarily used in industrial projects, energy
exploration and infrastructure development, including roads, bridges, and
commercial construction. Our Crane and Machinery division is a Chicago based
distributor of cranes including Terex truck and rough terrain cranes, Fuchs
material handlers and our own Manitex product line. Crane and Machinery
provides after market service in its local market as well as being a leading
distributor of OEM crane parts, supplying parts to customers throughout the
United States and internationally. Our Manitex Liftking subsidiary is provider
of material handling equipment including the Noble straight-mast rough terrain
forklift product line, Lowry high capacity cushion tired forklift and Schaeff
electric indoor forklifts as well as specialized carriers, heavy material
handling transporters and steel mill equipment. Manitex Liftking’s rough
terrain forklifts are used in both commercial and military applications.

Forward-Looking Statement

Safe Harbor Statement under the U.S. Private Securities Litigation Reform
Act of 1995: This release contains statements that are forward-looking in
nature which express the beliefs and expectations of management including
statements regarding the Company’s expected results of operations or
liquidity; statements concerning projections, predictions, expectations,
estimates or forecasts as to our business, financial and operational results
and future economic performance; and statements of management’s goals and
objectives and other similar expressions concerning matters that are not
historical facts. In some cases, you can identify forward-looking statements
by terminology such as “anticipate,” “estimate,” “plan,” “project,”
“continuing,” “ongoing,” “expect,” “we believe,” “we intend,” “may,” “will,”
“should,” “could,” and similar expressions. Such statements are based on
current plans, estimates and expectations and involve a number of known and
unknown risks, uncertainties and other factors that could cause the Company’s
future results, performance or achievements to differ significantly from the
results, performance or achievements expressed or implied by such
forward-looking statements. These factors and additional information are
discussed in the Company’s filings with the Securities and Exchange Commission
and statements in this release should be evaluated in light of these important
factors. Although we believe that these statements are based upon reasonable
assumptions, we cannot guarantee future results. Forward-looking statements
speak only as of the date on which they are made, and the Company undertakes
no obligation to update publicly or revise any forward-looking statement,
whether as a result of new information, future developments or otherwise.

     Company Contact

     Manitex International, Inc.              Hayden IR
     David Langevin                           Peter Seltzberg or Brett Maas
     Chairman and Chief Executive Officer     Investor Relations
     (708) 237-2060                           212-946-2849
     djlangevin@manitexinternational.com      peter@haydenir.com

Categories: Uncategorized

DirectView Technology Group, Inc. Expands Business and Marketing Opportunities in 2008

December 30, 2008 · Leave a Comment

BOCA RATON, Fla., Dec. 30 /PRNewswire-FirstCall/ — DirectView Technology
Group, Inc. (OTCPK: DVWG), a Company focused on ownership and management of
leading technology companies, is pleased to announce that 2008 has been a year
of significant expansion and redirection. The recent acquisition of Homeland
Integrated Security Systems, Inc. by Mr. Roger Ralston and the Company’s
subsequent acquisition of DirectView Video Technologies Group, Inc. has
expanded the scope of operations for DirectView Technology Group.

The Company’s wholly owned subsidiary, DirectView Video Technologies,
Inc., provides high-quality video conferencing solutions and services that
enable its clients to conduct remote meetings by linking participants in
geographically dispersed locations. It also provides enabling technologies
such as multipoint video and audio conferencing, video conferencing over IP,
document conferencing and visual presentations. The Company provides products
and services and has served several blue chip clients such as Burger King,
Tropicana, Travelocity.com, BellSouth, the Trump Organization and the New York
City Police Department.

In 2008, Homeland Integrated Security Systems entered into a growing
number of vertical markets for its Cyber Tracker units. The Company received a
single initial purchase order, among others, in excess of $200,000 from one of
the world’s largest privately held security companies for up to 450 CT-410
security and data tracking units and accessories. The security company has a
large customer base of households located throughout the United States, Puerto
Rico and the Bahamas. The Company also filled an order for the Lake Shore
Central School District in Angola, New York for additional CT-150 units. These
low-cost solutions for standard GPS tracking applications are being used by
the school district to provide tracking and location data for new school buses
that were recently added to the fleet.

During the year, Homeland Integrated Security Systems expanded its
marketing opportunities for its Cyber Tracker units. The Company has been
added to the U.S. General Services Administration (GSA) schedule and is now
selling its products through the GSA and the GSA Advantage, an electronic
shopping and ordering system that allows GSA customers to buy direct from GSA
Schedule contractors online. The Company also became an approved vendor for
the U.S. Department of Homeland Security (DHS) and can now market its product
portfolio directly to the DHS.

Homeland Integrated Security Systems also launched a campaign to compete
in the stolen vehicle recovery market with global leader LoJack Corp. which is
traded on the Nasdaq Stock Exchange under the symbol “LOJN.” The Company has
unveiled new product comparison models to LoJack for its CT-150 and CT-450
vehicle recovery units. The comparison may be accessed directly at
http://www.hissusa.com/downloads/Product_Comparison_CT150-CT410-LoJack.pdf .

“This has been a landmark year for DirectView Technology Group and our
subsidiary companies. We’ve made several significant steps toward introducing
our Cyber Tracker products into the marketplace and we’ve expanded their focus
to compete in the stolen vehicle market as well. We anticipate remarkable
growth in 2009 for the Cyber Trackers and the video teleconferencing services
now offered by DirectView Technology Group,” stated Roger Ralston, CEO of
DirectView Technology Group, Inc.

To listen to the company’s recent teleconference visit
http://directviewtechnologies.com

About DirectView Technology Group, Inc.:

DirectView Technology Group, Inc. is a diversified holding company for a
conglomerate of video and technology companies that include the wholly-owned
subsidiaries DirectView Video Technologies, Inc. and Homeland Integrated
Security Systems, Inc. DirectView Video Technologies, Inc. is a full service
provider of video, audio, multipoint videoconferencing, data and IP
videoconferencing services to businesses and organizations worldwide.
Homeland Integrated Security Systems is a technology based that provides
solutions for asset recovery and tracking. The Cyber Tracker technology
product line has applications for data and tracking functions across a variety
of industries, utilizing CDMA, IDEN, and GSM technologies.

Statements contained in this news release, other than those identifying
historical facts, constitute “forward-looking statements” within the meaning
of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor
provisions as contained in the Private Securities Litigation Reform Act of
1995. Such forward-looking statements relating to the Company’s future
expectations, including but not limited to revenues and earnings, technology
efficacy, strategies and plans, are subject to safe harbors protection. Actual
Company results and performance may be materially different from any future
results, performance, strategies, plans, or achievements that may be expressed
or implied by any such forward-looking statements. The Company disclaims any
obligation to update or revise any forward-looking statements.

    Contact:
    DirectView Technology Group, Inc.
    www.DirectViewTechnologies.com
    888-704-8700

    or
    Investor Relations
    1-866-THE-APPL(E)

Categories: Uncategorized

Doobie Brothers To Perform at the 2009 North American International Auto Show for Charity Preview

December 30, 2008 · Leave a Comment

DETROIT, Dec. 30 /PRNewswire/ — Legendary American rock band, The Doobie
Brothers, will perform inside Cobo Arena at the 2009 North American
International Auto Show’s (NAIAS) annual black-tie Charity Preview gala on
Jan. 16. The band will entertain Charity Preview attendees at 9 p.m. in Cobo
Arena with doors opening at 8:30 p.m.

(Logo: http://www.newscom.com/cgi-bin/prnh/20081110/CLM078LOGO )

“The Doobie Brothers performing at Charity Preview will make this truly a
night to remember for our guests,” said Joe Serra, senior co-chair of the 2009
NAIAS. “Adding a band like this with their history and caliber to the
evening’s festivities is a perfect fit for a fun night for Detroiters while
supporting 12 local children’s charities.”

Attendees must present their Charity Preview ticket stub at the entrance
to Cobo Arena to see the Doobie Brothers performance. Seating and standing
room will be available at the performance along with food and refreshments.

The Doobie Brothers have been a top concert attraction since the band
began in 1969 in San Jose, Calif. The group has many memorable hits including
“Black Water,” “Listen To The Music,” “Takin’ It To The Streets,” “Long Train
Runnin,” and “China Grove.”

Since its inception in 1976, Charity Preview has raised over $77 million
for children’s charities in metro Detroit, over $32 million of which was
raised in the last five years alone. Medical treatment, clothing and support
services for local kids in need all are made possible through the purchase of
Charity Preview tickets.

Tickets for the event are $400 each and can be purchased by calling
888.838.7500. Tickets can also be purchased online at www.charitypreview.com.

Beneficiaries of the Charity Preview include: Barat Child and Family
Services; Boys & Girls Club of Southeastern Michigan; Boys Hope Girls Hope of
Detroit; The Children’s Center; Judson Center; Children’s Services of
Northeastern Guidance Center Assistance League; The Detroit Institute for
Children; Think Detroit PAL; Easter Seals – Michigan; March of Dimes;
Children’s Hospital of Michigan; and the DADA Charitable Foundation Fund, a
fund of the Community Foundation for Southeast Michigan.


    NAIAS 2009 Official Dates

    - January 11 - 25 at Cobo Center in Detroit
    - Press Preview will be held Sunday, Jan. 11 through Tuesday, Jan. 13
    - Industry Preview will be held Wednesday, Jan. 14 and Thursday, Jan. 15
    - The annual black-tie Charity Preview gala will be held Friday evening,
      Jan. 16
    - Public Days will be held Saturday, Jan. 17 through Sunday, Jan. 25

    The North American International Auto Show
    Rod Alberts - Executive Director

Entering its 21st year as an international event, the North American
International Auto Show is among the most prestigious auto shows in the world
and is one of the largest media events in North America. The NAIAS is the only
auto show in the United States to earn an annual distinguished sanction of the
Organisation Internationale des Constructeurs d’Automobiles, the Paris-based
alliance of automotive trade associations and manufacturers from around the
world. The NAIAS Web site can be accessed at www.naias.com. Don’t miss it for
the world!

Categories: Uncategorized

GMAC to Expand Retail Auto Financing

December 30, 2008 · Leave a Comment

DETROIT, Dec. 30 /PRNewswire/ — GMAC Financial Services will immediately
resume auto financing for a broader spectrum of U.S. customers as a result of
expanded access to funding as a bank holding company. The company will modify
its credit criteria to include retail financing for customers with a credit
bureau score of 621 or above, a significant expansion of credit compared to
the 700 minimum score put in place two months ago.

GMAC’s application to become a bank holding company was approved by the
Federal Reserve Board of Governors on Dec. 24, 2008. The company also
announced that it received an investment from the U.S. Treasury Department as
part of the Troubled Assets Relief Program.

“The actions of the federal government to support GMAC are having an
immediate and meaningful effect on our ability to provide credit to automotive
customers,” said GMAC President Bill Muir. “We will continue to employ
responsible credit standards, but will be able to relax the constraints we put
in place a few months ago due to the credit crisis. We will immediately put
our renewed access to capital to use to facilitate the purchase of cars and
trucks in the U.S.”

At this time, GMAC will not finance higher risk transactions characterized
by a credit bureau score of 620 or below. The company will utilize both GMAC
Bank and funding from other sources to resume its traditional spectrum of
prime-based credit, appropriately pricing for risk and requiring down payments
where necessary.

“The majority of GMAC’s auto financing has been in the prime arena,” Muir
said. “Therefore, opening access to credit for those with CB scores of 621 or
better will allow us to return to more normal levels of financing volume, and
should help in efforts to stabilize the U.S. auto industry.”

GMAC’s expanded financing policy and improved retail financing rates will
apply to both new and certified used vehicles. Dealer wholesale financing
remains a priority for GMAC, and is unchanged.

About GMAC Financial Services

GMAC Financial Services is a global finance company operating in and
servicing North America, South America, Europe and Asia-Pacific. GMAC
specializes in automotive finance, real estate finance, insurance, commercial
finance and online banking. As of Dec. 31, 2007, the organization had $248
billion in assets and serviced 15 million customers. Visit the GMAC media site
at http://media.gmacfs.com/ for more information.

Categories: Uncategorized

GMAC to Expand Retail Auto Financing

December 30, 2008 · Leave a Comment

DETROIT, Dec. 30 /PRNewswire/ — GMAC Financial Services will immediately
resume auto financing for a broader spectrum of U.S. customers as a result of
expanded access to funding as a bank holding company. The company will modify
its credit criteria to include retail financing for customers with a credit
bureau score of 621 or above, a significant expansion of credit compared to
the 700 minimum score put in place two months ago.

GMAC’s application to become a bank holding company was approved by the
Federal Reserve Board of Governors on Dec. 24, 2008. The company also
announced that it received an investment from the U.S. Treasury Department as
part of the Troubled Assets Relief Program.

“The actions of the federal government to support GMAC are having an
immediate and meaningful effect on our ability to provide credit to automotive
customers,” said GMAC President Bill Muir. “We will continue to employ
responsible credit standards, but will be able to relax the constraints we put
in place a few months ago due to the credit crisis. We will immediately put
our renewed access to capital to use to facilitate the purchase of cars and
trucks in the U.S.”

At this time, GMAC will not finance higher risk transactions characterized
by a credit bureau score of 620 or below. The company will utilize both GMAC
Bank and funding from other sources to resume its traditional spectrum of
prime-based credit, appropriately pricing for risk and requiring down payments
where necessary.

“The majority of GMAC’s auto financing has been in the prime arena,” Muir
said. “Therefore, opening access to credit for those with CB scores of 621 or
better will allow us to return to more normal levels of financing volume, and
should help in efforts to stabilize the U.S. auto industry.”

GMAC’s expanded financing policy and improved retail financing rates will
apply to both new and certified used vehicles. Dealer wholesale financing
remains a priority for GMAC, and is unchanged.

About GMAC Financial Services

GMAC Financial Services is a global finance company operating in and
servicing North America, South America, Europe and Asia-Pacific. GMAC
specializes in automotive finance, real estate finance, insurance, commercial
finance and online banking. As of Dec. 31, 2007, the organization had $248
billion in assets and serviced 15 million customers. Visit the GMAC media site
at http://media.gmacfs.com/ for more information.

Categories: Uncategorized

Brilliance China Automotive Holdings Limited (OTC Bulletin Board: BCAHY; HKEx: 1114) Announces the Results of Special General Meeting Held on 30th Dec., 2008

December 30, 2008 · Leave a Comment

    HONG KONG, Dec. 22 /PRNewswire-Asia-FirstCall/ --

                 BRILLIANCE CHINA AUTOMOTIVE HOLDINGS LIMITED
               (Incorporated in Bermuda with limited liability)
                              (Stock Code: 1114)

                      RESULTS OF SPECIAL GENERAL MEETING
                         HELD ON 30TH DECEMBER, 2008

The Board is pleased to announce that the Ordinary Resolutions relating to
the Continuing Connected Transactions, the Proposed Caps and the Financial
Assistance were duly passed by the Shareholders/ Independent Shareholders (as
the case may be) attending and voting at the Special General Meeting by way of
poll at the Special General Meeting.

Reference is made to the announcement made by the Company dated 19th
November, 2008 and the circular issued by the Company dated 10th December,
2008 relating to Continuing Connected Transactions to be carried out by the
Group for the three financial years ending 31st December, 2011 and provision
of Financial Assistance to/by connected person for the financial year ending
31st December, 2009 (the “Circular”). Unless otherwise defined, terms used
herein shall have the same meanings as in the Circular.

The Board is pleased to announce that the Ordinary Resolutions relating to
the Continuing Connected Transactions, the Proposed Caps and the Financial
Assistance were duly passed by the Shareholders/ Independent Shareholders (as
the case may be) attending and voting at the Special General Meeting by way of
poll at the Special General Meeting held on 30th December, 2008. The Company’s
branch share registrar and transfer office in Hong Kong, Computershare Hong
Kong Investor Services Limited, was appointed as the scrutineer for the vote-
taking at the Special General Meeting.

As at the date of the Special General Meeting, the number of issued Shares
of the Company was 3,669,765,900 Shares. Huachen and its associates which as
at the date of the Special General Meeting were interested in 1,446,121,500
Shares, representing approximately 39.41% of the issued share capital of the
Company, have abstained from voting in respect of Ordinary Resolutions 2a and
2b. As such, Independent Shareholders holding a total of 2,223,644,400 Shares,
representing approximately 60.59% of the issued share capital of the Company,
were entitled to vote for or against Ordinary Resolutions 2a and 2b at the
Special General Meeting. All Shareholders are entitled to vote for or against
Ordinary Resolutions 1a and 1b and 3 at the Special General Meeting.

Details of the poll results in respect of the Ordinary Resolutions to
approve the Continuing Connected Transactions, the Proposed Caps and the
Financial Assistance are as follows:


    Ordinary Resolutions proposed at        FOR         AGAINST   Total number
     the Special General Meeting          votes(%)      votes(%)    of votes

    1 a. To approve, confirm and ratify  2,293,168,249  750,000  2,293,918,249
          the entering into the of       (99.967305%) (0.032695%)
          framework agreements dated
          19th November, 2008 (the
          "Framework Agreements")
          in respect of the continuing
          connected transactions (the
          "Continuing Connected
          Transactions") to be entered
          into between the Company and
          its subsidiaries on the one
          part and Shenyang JinBei
          Automotive Company Limited
          ("JinBei") and its subsidiaries
          and associated companies on
          the other part for the three
          financial years ending 31st
          December, 2011 and to approve
          and confirm the entering into
          of the Continuing Connected
          Transactions pursuant to the
          Framework Agreements; and to
          authorise the directors of the
          Company to take such actions
          and to enter into such documents
          as are necessary to give effect
          to the Continuing Connected
          Transactions contemplated under
          the Framework Agreements

    b. To approve the proposed maximum   2,293,168,249  750,000  2,293,918,249
        annual monetary value of the     (99.967305%) (0.032695%)
        Continuing Connected
        Transactions contemplated
        under the Framework
        Agreements for each of the
        three financial years ending
        31st December, 2011

    2 a. To approve, confirm and ratify    847,046,749  750,000    847,796,749
          the entering into of the        (99.911535%) (0.088465%)
          regional agent agreement dated
          19th November, 2008 (the
          "Regional Agent Agreement")
          in respect of the continuing
          connected transaction to be
          entered into between Shenyang
          Brilliance JinBei Automobile
          Co., Ltd. and Liaoning Zheng
          Guo Investment Development
          Company Limited for the three
          financial years ending 31st
          December, 2011 and to approve
          and confirm the entering into
          of the continuing connected
          transaction pursuant to the
          Regional Agent Agreement; and
          to authorise the directors of
          the Company to take such
          actions and to enter into such
          documents as are necessary to
          give effect to the continuing
          connected transaction
          contemplated under the Regional
          Agent Agreement

    b. To approve the proposed maximum     847,046,749  750,000    847,796,749
        annual monetary value of the      (99.911535%) (0.088465%)
        continuing connected transaction
        contemplated under the Regional
        Agent Agreement for each of the
        three financial years ending 31st
        December, 2011

    3 To approve, confirm and ratify the 2,293,168,249  750,000  2,293,918,249
       cross guarantees agreement         (99.967305%) (0.032695%)
       dated 19th November, 2008 between
       Shenyang XingYuanDong Automobile
       Component Co., Ltd. ("Xing Yuan
       Dong") and JinBei in relation to
       the provision of cross guarantees
       by each of Xing Yuan Dong and
       JinBei (and its subsidiaries)
       for banking facilities of the
       other party up to RMB500 million
       for a period of one year from 1st
       January, 2009 to 31st December,
       2009 and to authorise the directors
       of the Company to take such
       actions and to enter into such
       documents as are necessary to give
       effect to the cross guarantees
       agreement

                                           By order of the Board
                                Brilliance China Automotive Holdings Limited
                                                Wu Xiao An
                                        (also known as Ng Siu On)
                                                 Chairman

    Hong Kong, 30th December, 2008

As at the date of this announcement, the Board comprises four executive
directors, Mr. Wu Xiao An (also known as Mr. Ng Siu On) (Chairman), Mr. Qi
Yumin (Chief Executive Officer), Mr. He Guohua and Mr. Wang Shiping; one non-
executive director, Mr. Lei Xiaoyang; and three independent non-executive
directors, Mr. Xu Bingjin, Mr. Song Jian and Mr. Jiang Bo.

    For further information, please contact:

     Lisa Ng
     Brilliance China Automotive Holdings Limited
     Tel: +852-2523-7227

     Carol Lau
     Weber Shandwick in Hong Kong
     Tel: +852-2533-9981

Categories: Uncategorized

Ford’s New ‘Active Park Assist’ Makes Parallel Parking a Breeze for Lincoln MKT and MKS Owners

December 30, 2008 · Leave a Comment

DEARBORN, Mich., Dec. 30 /PRNewswire-FirstCall/ –

— New Active Park Assist helps drivers parallel park with the touch of a
button and without ever touching the steering wheel

— Available in mid-2009 on Lincoln MKS sedan and all-new Lincoln MKT
crossover

— Active Park Assist uses ultrasonic-based sensing system and Electric
Power Assisted Steering to steer the vehicle into a parking spot

— Electric Power Assisted Steering also improves fuel economy up to 5
percent, while reducing CO2 emissions and enhancing performance, compared with
traditional steering

The often stressful and frustrating task of parallel parking soon will be
as easy as pressing a button for owners of the Lincoln MKS flagship sedan and
all-new Lincoln MKT seven-passenger luxury crossover, thanks to an exclusive
new technology from Ford Motor Company (NYSE: F) called Active Park Assist.

Available in mid-2009 as an option on the 2010 Lincoln MKS sedan and new
Lincoln MKT crossover, Active Park Assist uses an ultrasonic-based sensing
system and Electric Power Assisted Steering (EPAS) to position the vehicle for
parallel parking, calculate the optimal steering angle and quickly steer the
vehicle into a parking spot.

“With the touch of a button, Lincoln MKS and MKT drivers can parallel park
quickly, easily and safely without ever touching the steering wheel,” said
Derrick Kuzak, Ford’s group vice president of Global Product Development.
“This is another example of exclusive Ford smart technology, such as Ford
SYNC, that makes the driving experience easier and more enjoyable for our
customers.”

Active Park Assist system uses sensors on the front and rear of the
vehicle to guide the vehicle into a parking space. The technology is a major
leap forward in speed and ease of use compared with the camera-reliant systems
offered by competitors, including a video camera-based system offered by
Lexus. Ford’s system requires less driver interface and reduces the risk of
selecting a parking spot that is too tight. Ford’s Active Park Assist also
works in downhill parking situations, unlike competing systems.

Here’s how Active Park Assist works:

— The driver activates the system by pressing an instrument panel button,
which activates the ultrasonic sensors to measure and identify a feasible
parallel parking space.

— The system then prompts the driver to accept the system assistance to
park.

— The steering system then takes over and steers the car into the parking
space hands-free. The driver still shifts the transmission and operates the
gas and brake pedals.

— A visual and/or audible driver interface advises the driver about the
proximity of other cars, objects and people and provides instructions.

— While the steering is all done automatically, the driver remains
responsible for safe parking and can interrupt the system by grasping the
steering wheel.

Active Park Assist is enabled by Ford’s advanced EPAS technology. In
addition to helping with parallel parking, EPAS improves fuel economy up to 5
percent, while reducing CO2 emissions and enhancing steering performance
compared with traditional hydraulic powered-assisted steering systems. EPAS
saves fuel primarily because the steering system is powered by an electric
motor connected to vehicle’s battery, as opposed to engine-mounted hydraulic
pump steering systems.

By 2012, Ford plans to fit nearly 90 percent of the Ford, Lincoln and
Mercury lineup with EPAS.

“As we use advanced technology like Electric Power Assisted Steering to
improve the fuel efficiency across our vehicle lineup, we have the opportunity
to introduce new comfort and convenience innovations like Active Parking
Assist,” said Ali Jammoul, Ford’s chief engineer for chassis engineering and
steering systems. “This is technology not for the sake of technology, but
technology designed to meet the needs and wants of customers.”

As Ford introduces EPAS in more vehicles, it will be able to offer Active
Parking Assist in more models. In addition, Ford is working on using EPAS and
other sensors for other smart technologies, including one that could prevent a
vehicle from drifting out of lane on the highway.

Active Park Assist works in tandem with other new technologies that will
be offered on the 2010 MKS and MKT and other Ford Motor Company vehicles,
including Blind Spot Information System (BLIS(TM)) and Cross Traffic Alert.
BLIS employs a sensor on the outboard rear quarter panel that monitors the
traditional blind spot area, and can notify the driver with a warning
indicator light in the corresponding side view mirror if the sensors in this
optional system detect a vehicle in the blind spot. Cross Traffic Alert uses
BLIS sensors to help detect cross traffic when backing out of a parking space.

More details about the new Lincoln MKT seven-passenger luxury crossover
will be available when it debuts at the 2009 North American International Auto
Show in Detroit in January.

The Lincoln MKS sedan — which went on sale this summer with strong
initial sales that have helped Lincoln gain share in the luxury segment in the
second half of this year — raises the bar on exclusive technologies offered
in a luxury car. The Lincoln MKS features:

— Adaptive Cruise Control, which allows the driver to set and maintain
the vehicle’s speed, while a radar monitors traffic ahead. This optional
system automatically adjusts speed and slows the vehicle to maintain the set
distance behind traffic ahead.

— Intelligent Access with Push Button Start, which allows the driver to
enter the Lincoln MKS and start the engine without using the key. Drivers
simply carry the special fob as they approach the vehicle, touch the keyless
entry keypad on the B-pillar, open the door and, with the brake pedal engaged,
start the engine by pushing a button.

— SecuriCode(TM) Keyless Entry Keypad, which is the next generation of a
feature familiar to many Lincoln owners. It allows access to Lincoln MKS by
unlocking the driver’s door by entering a pre-set five-digit code. The newest
version is now flush-mounted to the B-pillar with backlit numerals that
illuminate to the touch.

— Adaptive Headlamps with Standard High-Intensity Discharge (HID) Lamps,
which enhance nighttime visibility by illuminating more of the road ahead.
Sensors monitor the vehicle’s speed and steering wheel input to engage
headlamp movement and increase the driver’s field of vision.

— Rain-Sensing Wipers, which use an optical sensing system to gauge
precipitation and automatically activate and adjust the wipers. The Lincoln
MKS driver can choose among five sensitivity settings.

— EasyFuel(TM) Capless Fuel-Filler System, which provides a hassle-free
and more consistent seal than a manual fuel cap. EasyFuel self seals when
refueling is complete.

— SYNC, which is standard on the Lincoln MKS. This award-winning voice
activated communications and entertainment system developed by Ford and
Microsoft fully integrates Bluetooth(R)-enabled mobile phones and digital
media players into the vehicle. SYNC incorporates 911 Assist, which can
notify a local 911 emergency operator in the event of an air bag-deploying
incident. SYNC Vehicle Health Report feature can keep the driver notified of
scheduled maintenance, service intervals and vehicle system health
information.

About Ford Motor Company

Ford Motor Company, a global automotive industry leader based in Dearborn,
Mich., manufactures or distributes automobiles across six continents. With
about 224,000 employees and about 90 plants worldwide, the company’s core and
affiliated automotive brands include Ford, Lincoln, Mercury, Volvo and Mazda.
The company provides financial services through Ford Motor Credit Company. For
more information regarding Ford’s products, please visit http://www.ford.com.

Categories: Uncategorized

GMAC Receives $5.0 Billion Investment from the U.S. Treasury

December 30, 2008 · Leave a Comment

NEW YORK, Dec. 29 /PRNewswire/ — GMAC Financial Services today announced
that it has sold $5.0 billion of GMAC’s preferred membership interests and
warrants to the U.S. Department of the Treasury as a participant in the
Troubled Assets Relief Program established under the Emergency Economic
Stabilization Act of 2008. The sale was completed today.

GMAC also announced that General Motors Corp. (GM) and an affiliate of
Cerberus Capital Management contributed to GMAC the $750 million subordinated
participations in the $3.5 billion senior secured credit facility, as amended,
between GMAC and Residential Capital, LLC in exchange for new common equity of
GMAC. In addition, GMAC announced that GM and an affiliate of Cerberus
Capital Management entered into agreements to purchase $1.25 billion of new
common equity. The U.S. Treasury and GM intend to enter into an agreement for
the Treasury to fund GM’s share of the new common equity.

GMAC also announced that the conditions to its previously announced
separate private exchange offers and cash tender offers have been satisfied
and that GMAC has accepted all of the validly tendered GMAC old notes and
ResCap old notes. The GMAC offers and the ResCap offers are expected to
settle promptly.

GMAC received approval of its bank holding company application from the
U.S. Federal Reserve Board on Dec. 24, 2008. As a bank holding company, GMAC
has improved access to funding to provide financing to consumers and
businesses. In particular, the company intends to act quickly to resume
automotive lending to a broader spectrum of customers to support the
availability of credit to consumers and businesses for the purchase of
automobiles.

About GMAC Financial Services

GMAC Financial Services is a global finance company operating in and
servicing North America, South America, Europe and Asia-Pacific. GMAC
specializes in automotive finance, real estate finance, insurance, commercial
finance and online banking. As of Dec. 31, 2007, the organization had $248
billion in assets and serviced 15 million customers. Visit the GMAC media site
at http://media.gmacfs.com/ for more information.

Forward-Looking Statements

This press release contains various forward-looking statements within the
meaning of applicable federal securities laws, including the Private
Securities Litigation Reform Act of 1995, that are based upon our current
expectations and assumptions concerning future events, which are subject to a
number of risks and uncertainties that could cause actual results to differ
materially from those anticipated.

The words “expect,” “anticipate,” “initiative,” “plan,” “intend,” “may,”
“would,” “could,” “should,” “believe,” or the negative of any of those words
or similar expressions is intended to identify forward-looking statements. All
statements contained in or incorporated by reference into this press release,
other than statements of historical fact, including, without limitation,
statements about our plans, strategies, prospects and expectations regarding
future events and our financial performance, are forward-looking statements
that involve certain risks and uncertainties.

While these statements represent our current judgment on what the future
may hold, and we believe these judgments are reasonable, these statements are
not guarantees of any events or financial results, and our actual results may
differ materially due to numerous important factors that are described in Item
1A of our Annual Report on Form 10-K for the year ended December 31, 2007, as
updated by our subsequent Quarterly Reports on Form 10-Q, and our Current
Reports on Form 8-K. Many of these risks, uncertainties and assumptions are
beyond our control, and may cause our actual results and performance to differ
materially from our expectations. Factors that could cause our actual results
to be materially different from our expectations include, among others, the
settlement date of the GMAC offers and the ResCap offers and the success, or
lack thereof, of the transactions and other initiatives described in this
press release. Accordingly, you should not place undue reliance on the
forward-looking statements contained or incorporated by reference in this
press release. These forward-looking statements speak only as of the date on
which the statements were made. We undertake no obligation to update publicly
or otherwise revise any forward-looking statements, except where expressly
required by law.

Categories: Uncategorized