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The First Taiwan-invested Auto Leasing Company Opens in Suzhou

Suzhou Carplus Auto Leasing Co., Ltd., a joint venture of Yulon Group's subsidiary, Taiwan Acceptance Corporation, and Carplus Auto Leasing Company, lately held an opening ceremony in Loufeng Township, SIP, with the attendance of Ma Minglong, Deputy Secretary of SIP Party Working Committee and Director of Sipac, and Mr. Chen Li-hsung, Chairman of Taiwan Carplus Company. 60% of the shares of the joint venture are held by Taiwan Acceptance Corporation, and 40% by Carplus Co., totaling USD 5 million in registered capital. The first Taiwan-owned professional auto leasing company ever set up on the Mainland, Suzhou Carplus will start business with leasing service for long-term corporate customers and, shortly after, pick-ups for foreign and Taiwan-invested enterprises and their families in Suzhou. The business volume in the first year is estimated to involve 300 to 500 vehicles, and the service will extended to other major cities of Shanghai, Guangzhou, and Beijing.

Carplus is one the few long-standing and experienced leasing businesses of comprehensive service in Taiwan, as well as a witness to the 20 years' development of leasing industry in Taiwan. Safety, legality, and comfort are the primary merits of the company.

Over the past twenty years' operation, Carplus has won over 10,000 corporate customers, among whom are foreign and Taiwan investors on the Mainland, and its business in the Mainland is an extension of the Island-wide services.

The opening of Carplus in Suzhou will bring new vigor to the local auto leasing business and brand new operation concept and impact in the auto leasing service industry.

April 3, 2007

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