Antonov plc Update on TX6 Six Speed Transmission Programme

10/10/2006, 5:10 PM (Source: GlobeNewswire)

Following its announcement on 30 June, the Board of Antonov plc
confirms that Antonov has submitted further detailed information to
Great Wall Motor Company ("GWM") in relation to the TX6 programme
covering key supplier costs, production investment levels and other
key information to support its business case. Although Antonov has
now met GWM's requirements, GWM has in the meantime decided to buy
proven technology for their first production model.

In parallel with the discussions with GWM, however, Antonov has
continued with the production design programme. This work has
included design for manufacture and assembly, supplier nomination,
detailed cost and investment data. As a result of this work, Antonov
now has the benefit of a full production-capable design.

The work was continued on the strength of interest received from a
number of other Chinese vehicle manufacturers and Antonov is
currently involved in multi-party discussions to finalise a
production plan. In addition, the Company has received commitment to
the programme from a number of major Tier 1 suppliers, including
those for the control unit and the electro-hydraulic system. This is
a key step in enabling the programme to proceed to production

John Moore, Chief Executive of Antonov, commented:

"Recent design work and a focus on product delivery has enabled the
six speed transmission programme to continue unaffected. We now have
a secure supply chain in place and are currently reviewing a range of
options in order to establish our manufacturing capability. The six
speed transmission has been well received by our target market and I
will update shareholders in due course."


John Moore, CEO, Antonov plc +44 1842 768 320

Jos Haag, Antonov plc +31 651 561 767

David Rae, Dawnay, Day Corporate Finance Limited +44 207 509 4570

Shane Dolan, Biddicks +44 207 448 1000

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