Press Releases

Report of AGM

27th November 2007

Manganese Bronze Holdings PLC reports that at the Annual General Meeting of the Company held today, Mr Tim Melville-Ross, Chairman, made the following trading statement:

“I am pleased to report that sales of the TX4 continue to be strong and are ahead of the same quarter (August to October) last year. The TX4 is the most technologically advanced, purpose built taxi that we have ever produced and market acceptance has been excellent throughout the UK.

Shanghai LTI, our joint venture with Geely Automobile Holdings Ltd, is performing to plan. The JV is putting in place the necessary engineering, manufacturing and supplier development actions to achieve prototype production in mid 2008 and production for sales at the end of 2008. Milestones of particular note that have been achieved are the placing of the orders for the key body tooling, the commencement of factory modifications to accommodate TX4 production and the preliminary selection of engine and gearbox suppliers. Supplier quotes received to date have confirmed the level of procurement savings that have been targeted.

Looking ahead, taxi sales for the balance of this extended financial year (to 31 December 2007) and into 2008 will depend on our ability to maintain the momentum of TX4 and the extent of market opportunities arising from the change in emissions regulations in London in mid 2008 . Our prime objective remains the initiation of production in China through our joint venture with Geely and we look forward to 2008 with confidence as the foundation year for our development.”

For further information, please contact:

Financial Dynamics - Jon Simmons/James Ottignon Tel:020 7831 3113

Manganese Bronze Holdings plc - Mark Fryer, Group Finance and Business Development Director Tel:02476 572 223

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