Updates to News Releases of March 30, April 27 and May 11, 2000.

Business Editors/Automotive Writers

EL CAJON, Calif.--(BUSINESS WIRE)--May 23, 2000

Composite Automobile Research Ltd. (OTCBB:CARH)(POH:Frankfurt), through its wholly owned subsidiary World Transport Authority Inc. (WTA), Tuesday announced the following updates to news releases of the above mentioned dates.

Regarding the company news release of March 30, 2000, WTA is pleased to announce the Special Shareholders Meeting scheduled for June 1 is proceeding. At this meeting the shareholders will be asked to consider and to vote on several items of business to be put forth. Chief amongst these items will be for the shareholders to consider a name change for the company, from Composite Automobile Research Ltd. to that of World Transport Authority Inc. Secondly the company will be seeking approval for a Recordation Date for its proposed forward 4 for 1 share stock split. Please note that the board of directors of CARH has unanimously approved the share split and are seeking only the approval of a Recordation Date at this meeting. Additionally, any other business that is properly presented for review and ratification will be considered at the Special Shareholders Meeting. The company shall issue a company news release as expeditiously as it deems prudent regarding the results of business conducted at the meeting.

Regarding the company news release of April 27, 2000, WTA is pleased to announce that in conjunction with it ordering 1,000 private labeled Fiat engines, its licensees in the Philippines and Columbia have now begun receiving the Fiat engines for production runs. WTA has dispatched company engineers to each of the countries to ensure a smooth transition for implementation of the WorldStar(R)/Fiat engines into the Philippine and Columbia production programs.

Regarding the company news release of May 11, 2000, WTA is pleased to announce the following update. Presently senior officials of WTA are in China, inspecting the facilities of the prospective purchaser of the Master License for the production of the WorldStar(R) vehicle in the country of China. This inspection of their facilities by WTA officials is a key component to reciprocal due diligence agreed to by both parties in a Letter of Understanding entered into on April 27, 2000. Senior officials of the company are expected to return to the company offices in El Cajon no later than May 27, 2000.

WTA Chairman and Chief Executive Officer Lyle Wardrop stated, "Regarding China, we anticipate that upon a favorable review of all of the data compiled to date and including an analysis of the in progress inspection of their facilities, that WTA and the perspective purchaser will be able to move forward quickly into final and definitive agreements regarding this transaction."

Composite Automobile Research Ltd. and World Transport Authority Inc. serve the emerging world's transportation needs through in country manufacturing facilities, utilizing local semi-skilled labor to produce the WorldStar line of utility vehicles.

This press release contains forward-looking statements within the definition of Section 27A of the Securities Act of 1933, as amended and such section 21E of the Securities Act of 1934, amended. These forward-looking statements should not be used to make an investment decision. Refer to the WTA web site WWW.WTAWorldstar.com and other sources for more detailed information. Investor relations is at 619/387-8888.