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(HONG KONG, 16 April 2009)--- Geely Automobile Holdings Limited (“Geely Automobile”/the “Group”)(Stock code: 175) announced the annual results for the year ended 31 December 2008. The Group recorded a record growth in revenues to RMB$4,289 million in 2008, up 3,156% from 2007. Profit attributable to the equity holders of the group amounted to RMB$879 million, representing a significant increase of 191% over 2007. Basic earnings per share for the year ended 31 December 2008 was approximately RMB$15.04 cents (2007: RMB$6.14 cents). The Board of Directors recommended the payment of final dividend of HK$1.6 cent per share for 2008 (2007: HK$1.3 cent). 2008 was the Group’s best performing year in its history in terms of both sales and profitability. The strong performance was partly due to the higher shareholdings in these operating entities, the Group’s five operating subsidiaries – Zhejiang Geely Automobile Company Limited (“Zhejiang Geely”), Shanghai Maple Guorun Automobile Company Limited (“Shanghai Maple”), Zhejiang Kingkong Automobile Company Limited (“Zhejiang Kingkong”), Zhejiang Ruhoo Automobile Company Limited (“Zhejiang Ruhoo”) and Hunan Geely Automobile Components Company Limited (“Hunan Geely”) – (collectively, “operating subsidiaries”), from 46.8% to 91% after the completion of the acquisitions in July 2008. Moreover, the continued success achieved by the operating subsidiaries’ Strategic Transformation, also resulted in improvement in product mix towards higher-end sedans, and product price stability during the period. The “Strategic Transformation” has so far yielded very positive results, as evidenced by the tremendous success of a new economy car platform – the “Geely Panda” – launched in November 2008 and the significant improvement in brand recognition and customer satisfaction by Geely’s products as indicated by the recent results of major industry surveys in China’s sedan market.