Geely Automobile Holdings Ltd., Special/Extraordinary Shareholders Meeting, Dec 07, 2009, at 10:00 CCT - China Coast, USSR Zone 7. Location: Room 230, 23rd Floor, Great Eagle Centre, 23 Harbour Road, Wanchai, Hong Kong. Agenda: To approve the conditional equity transfer agreement dated 27 October 2009 entered into between Zhejiang Geely, Shanghai Maple Guorun, Shanghai Maple and Geely Holding; to approve the conditional equity transfer agreement dated 27 October 2009 entered into between Zhejiang Geely, Shanghai Maple Guorun, Geely Holding and Zhejiang Haoqing; to approve the conditional equity transfer agreement dated 27 October 2009 entered into between Zhejiang Geely, Shanghai Maple Guorun, Zhejiang Haoqing and Geely Merrie.

Zhejiang Geely Holding (Group) Co., Ltd. welcomed Ford Motor Co.’s decision to name it as the preferred bidder for Volvo Car Corporation. Geely will now embark on further detailed discussions with Ford, paving the way for a potential acquisition of Volvo. The announcement follows extensive talks between Geely and Ford. Under the proposed transaction, supported by Chinese banks, Volvo's existing production and R&D facilities, union agreements and dealer networks would be maintained, while Geely would enhance Volvo's access to sales networks and sourcing opportunities in the important Chinese market. The strategy would be led by an independent Volvo management, headquartered in Gothenburg. Mr. Li Shufu, Chairman of Geely, said, “We are delighted with the progress of our discussions with Ford. Should a final agreement be reached, Geely will safeguard and strengthen Volvo's world-renowned brand heritage, ensuring its continued leadership as a premium car company with a global reputation for safety and environmental technologies.” He added, “This is an important strategic step for Geely, signalling our commitment to Volvo's presence in more than 100 markets around the world and building on our strengths in the Chinese car industry.”

Geely Automobile Holdings Ltd. reported sales results for the first nine months ended September 2009. For the period, the company reported sales growth of 42% year-on-year. Over this period, the number of vehicles sold by Geely and its five subsidiaries reached 217,334 units. It was helped in September when sales surged by 101% year-on-years to 32,053 units. The company also reported that it exported 2,612 vehicles during September, the highest level since demand in its overseas markets collapsed in October 2008. The company has set a sales target for 2009 of 250,000 units. It has already managed to achieve almost 87% of this in the first nine months of the year and looks set to surpass this goal comfortably.