31 July 2006

Richburg Corporation Ltd to retail Lotus cars in Hong Kong

Lotus Cars Ltd, the sportscar division of Group Lotus plc, is pleased to announce the appointment of Richburg Corporation Limited for the retail of Lotus cars in Hong Kong.

Mike Kimberley, CEO of Group Lotus plc comments "I would like to welcome Richburg Corporation to the Lotus family and brand. The Hong Kong market is strategically important to us and we are pleased to have teamed up with such an enthusiastic and professional organisation. Looking to the future, we are expanding our line-up to include new products such as a mid engine supersports car which will introduce the Lotus marque to a discerning and individualistic group of Lotus fans and driving enthusiasts."

Eric Wong, Chairman and CEO of Richburg Corporation commented: "We are very excited to be able to offer these superb Lotus sportscars to Hong Kong drivers and those who appreciate fine and innovative engineering in our market. Richburg's profile and strength has always been its unique ability to retail innovative and high profile car brands in Hong Kong. Our marketing plan is to re-launch Lotus into the fast lane, highlighting the brand's philosophies in building lightweight, agile and innovative performance cars and its British engineering and manufacturing heritage." Eric Wong continues: "Our first allocation of nine cars are being hand built by Lotus as we speak and will be shipped to Hong Kong soon. The new Elise R and the new Exige S will be available from launch in October 2006 with pricing from HK$ 585,000 for the Elise R and HK$ 715,000 for the Exige S. The new Europa S and the new entry level Lotus Elise S will join the range in early 2007."

The new Lotus showroom will be at Shop A, 128 Gloucester Road, Wanchai, Hong Kong, and the new Lotus Service Centre will be at Unit 2, G/F, Chaiwan Industrial City, Phase 2, 70 Wing Tai Road, Chaiwan, Hong Kong. Richburg Corporation has pledged HK$ 10 million to re-establish the Lotus brand, dealership, and the parts and service network to underline its commitment to the brand and its future customers. The new facilities will all be in line with the corporate image and training standards set out by Lotus Cars.