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The Board of Directors of Tan Chong Motor Holdings Berhad ("the Company") is pleased to inform that the Company has incorporated a new subsidiary with the name of VDC Sdn Bhd ("VDC") under the Companies Act, 1965 on 8 October 2007 to carry on the business as a provider of logistics services.

VDC has an authorized capital of RM100,000/- made up of 100,000 ordinary shares of RM1/- each and an issued and paid-up capital of RM2/-. It is a wholly-owned subsidiary of Tan Chong Motor Holdings Berhad.

The above formation of new company has no material effect on the earnings, gearing and net assets of the Group for the financial year ending 31 December 2007.

None of the directors or major shareholders of the Company or persons connected with them, has an interest, direct or indirect, in the said formation of new company.

This announcement is dated 9 October 2007.