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BRILLIANCE CHINA AUTOMOTIVE HOLDINGS LIMITED ANNOUNCES A SEVENTY PERCENT TARIFF REDUCTION

 HONG KONG, June 22 /PRNewswire/ -- Brilliance China Automotive Holdings Limited (NYSE: CBA) announced today its first annual general meeting that the tariff on the imported kits for its Deluxe Minibus has been reduced from 120 percent to 50 percent. The tariff reduction, which is expected to more than offset the financial effects of the recent currency devaluation, applies to all vehicle kits purchased from Toyota beginning Jan. 1, 1993.
 Commenting on the tariff reduction, Brilliance China's Chairman, Yang Rong, said: "We believe that the tariff reduction enhances Brilliance China's competitive advantage in the domestic market place. In addition, this an important step in accomplishing our objective of lowering costs and should improve our financial outlook."
 Brilliance China, the holding company for China's leading manufacturer of minibuses, is the first NYSE-listed company whose operations are based in the PRC. With the completion of the October 1992 offering, international investors own approximately 30 percent of Brilliance China.
 -0- 6/22/93
 /CONTACT: Lloyd Xing Hong of Brilliance China Automotive Holdings Limited in Hong Kong, 852-523-7227; or Robert Grieves of Burson- Marsteller, 212-614-4951, or Anthony Payne of Burson-Marsteller in Hong Kong, 852-856-1737, for Brilliance China Automotive Holdings Limited/
 (CBA)


CO: Brilliance China Automotive Holdings Limited ST: IN: AUT SU:

TS-LR -- NY015 -- 4452 06/22/93 09:44 EDT
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Publication:PR Newswire
Date:Jun 22, 1993
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