GPX International Tire Corporation Announces Agreement to Sell Solid Tire Business.

MALDEN, Mass. -- Craig Steinke, GPX's Chief Executive Officer, announced today that "the Company has entered into a definitive sale agreement for its Solid Tire business and Starbright manufacturing facility in China. An investor group will partner with members of the management team to purchase the operations and underlying assets of the Solid Tire business." The transaction will include the MITL, ITL and Brawler brands, as well as the Gorham, ME; Red Lion, PA; and Hebei, China manufacturing facilities.

GPX filed for reorganization under Chapter 11 of the bankruptcy code on October 26th.The Company filed for Chapter 11 as a result of a Department of Commerce Antidumping/Countervailing Duty inquiry commenced in June 2007 that resulted in crippling (44%) duties levied against GPX's Starbright facility while leaving all other major Chinese off-the-road tire manufacturers with nominal or manageable duties.

The Company expects to complete this transaction and the sale of its other business units, as described in its press release of October 26th, by December 31, 2009, pending approval by the bankruptcy court. Until the sale is finalized, GPX will continue to manufacture and distribute tires and service its valued customers.

GPX is represented in U.S. Bankruptcy Court by attorneys Harry Murphy of Hanify & King, P.C. and Peggy Farrell of Hinckley Allen & Snyder LLP as corporate counsel. TM Capital Corp. serves as investment banker to GPX in connection with these transactions and Argus Management Corporation serves as restructuring advisor to GPX.

About GPX International Tire Corporation

GPX International Tire Corporation is one of the largest independent global providers of specialty "off-the-road" tires for the agricultural, construction, materials handling and transportation industries. GPX is a worldwide company, headquartered in Malden, Massachusetts, with operations in North America, China, Canada, and Germany. A third generation family-owned business, GPX and its predecessor companies have been in business since 1922.