(Oct. 9, 2007, Nanchang, China) Lionax (Euronext stock symbol: MLION) announced today that Lionax has officially set up a wholly owned new company in Hong Kong yesterday, named "Hong Kong Lionax International Business Development Ltd." ("the new company").

"The new company will serve to promote Lionax global business exploration by taking advantage of China as the global manufacturing center. Lionax's new business will focus mostly on automotive electronics and parts for import and export, besides its main business on TPMS", said James Yang, President and CEO of Lionax.

"This will expand Lionax's business scope and it's a significant event for the company as it dramatically improves Lionax ability to penetrate the expansive North American and Europe auto parts after-market by taking advantage of Hong Kong as the global financial center and mainland China as the largest automotive parts manufacturer and supplier" said Raymond Jiang, Vice President of Business Development of Lionax.

China exported auto parts valued at U.S. $1.936 billion to United States in the first quarter this year, moving ahead of Germany's export value of U.S. $1.934 billion in the same period, and became the nation with the second largest amount of exports to the United States. China's total export value of auto parts was U.S. $6.132 billion in the first quarter this year, up 32.45 percent, comparing to the same period last year.

Lionax investors and share holders will be benefited by Lionax's new business expansion and China's economy booming, especially on automotive electronics and parts, on which Lionax is focusing.