GPX International Tire Corporation Announces Agreement to Sell Solid Tire Business

MALDEN, Mass.--(Business Wire)--
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.

O`Neill and Associates
Ann Murphy
617-646-1031
617-515-4060
amurphy@oneillandassoc.com

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