Brilliance China Automotive Holdings Limited (OTC Bulletin Board: BCAHY; HKEx:

Mon Dec 22, 2008 11:16am EST

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1114) Announces the Despatch of Circular in Relation to (1) Connected
Transaction- Subscription of Shares by a Connected Person; (2) Whitewash
Waiver; and (3) Notice of SGM and Grant of Options to Certain Directors Under
the Share Option Scheme of the Company

HONG KONG, Dec. 22 /PRNewswire-Asia-FirstCall/ --
    Despatch of Circular
    The Circular will be despatched by the Company to the Shareholders on 23rd
December, 2008.
    Grant of Options
    On 22nd December, 2008, the Board granted Options to, among others, Mr. Wu
Xiao An (also known as Mr. Ng Siu On), Mr. Qi Yumin and Mr. He Guohua, all of
whom are executive Directors and also directors of Huachen; Mr. Wang Shiping,
an executive Director and a Vice President of Huachen and Mr. Lei Xiaoyang, a
non-executive Director and the Deputy Chief Economist and the General Manager
of the Department of Assets Operation of Huachen, to subscribe for a total of
28,000,000 Shares at the exercise price of HK$0.438 for the period from 22nd
December, 2008 to 21st December, 2018.
    Reference is made to the announcement (the "Announcement") made by the
Company dated 2nd December, 2008 in relation to, among other things, the
Subscription and the Whitewash Waiver.  Unless the context requires otherwise,
terms used herein shall have the same meanings as in the Announcement.
    Despatch of Circular
    The circular (the "Circular") containing, among other things; (i) details
of the Subscription and the Whitewash Waiver; (ii) the advice and
recommendation of the Independent Board Committee; (iii) the letter from the
Independent Financial Adviser; and (iv) a notice of SGM, will be dispatched to
Shareholders on 23rd December, 2008.  The SGM will be held at Room Tian & Di,
7th Floor, The Landmark Mandarin Oriental, 15 Queen's Road Central, The
Landmark, Central, Hong Kong on Tuesday, 13th January, 2009 at 9:00 a.m.,
details of which are set out in the notice of the SGM in the Circular.
    Grant of Options
    On 22nd December, 2008, the Board granted options (the "Options") to
subscribe for Shares to, among others, Mr. Wu Xiao An (also known as Mr. Ng
Siu On), Mr. Qi Yumin and Mr. He Guohua, all of whom are executive Directors
and also directors of Huachen; Mr. Wang Shiping, an executive Director and a
Vice President of Huachen and Mr. Lei Xiaoyang, a non-executive Director and
the Deputy Chief Economist and the General Manager of the Department of Assets
Operation of Huachen pursuant to the share option scheme of the Company
adopted by the Shareholders on 11th November, 2008, to subscribe for a total
of 28,000,000 Shares at the exercise price of HK$0.438 for the period from
22nd December, 2008 to 21st December, 2018.
    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.
    By order of the Board
    Brilliance China Automotive Holdings Limited
    Wu Xiao An (also known as Ng Siu On)
    Chairman

    Hong Kong, 22nd December, 2008

    The Directors jointly and severally accept full responsibility for the
accuracy of the information contained in this announcement (other than
information relating to Huachen) and confirm, having made all reasonable
enquiries, that to the best of their knowledge, opinions expressed in this
announcement have been arrived at after due and careful consideration and
there are no other facts not contained in this announcement the omission of
which would make any statements in this announcement misleading.
    The directors of Huachen jointly and severally accept full responsibility
for the accuracy of the information contained in this announcement (other than
information relating to the Group) and confirm, having made all reasonable
enquiries, that to the best of their knowledge, opinions expressed in this
announcement have been arrived at after due and careful consideration and
there are no other facts not contained in this announcement the omission of
which would make any statements in this announcement misleading.
    The Stock Exchange of Hong Kong Limited takes no responsibility for the
contents of this announcement, makes no representation as to its accuracy or
completeness and expressly disclaims any liability whatsoever for any loss
howsoever arising from or in reliance upon the whole or any part of the
content of this announcement.
    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

SOURCE  Brilliance China Automotive Holdings Limited

Brilliance China Automotive Holdings Limited, Lisa Ng, +852- 2523-7227 or
Weber Shandwick in Hong Kong, Carol Lau, +852-2533-9981 for Brilliance China
Automotive Holdings Limited
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