SOURCE: DIAS Holding, Inc.

October 20, 2008 16:30 ET

Detroit International Auto Salon Opens China Operations Center in Hangzhou

ALLEN PARK, MI--(Marketwire - October 20, 2008) - DIAS Holding, Inc. (OTCBB: DSHL)

Detroit International Auto Salon announced today the opening of its China operations center in Hangzhou under the direction of Mr. David Mei, Managing Director. "This is another important step towards our future success," said Mr. Eric Huang, Chairman and CEO of DIAS Holding, Inc., the parent company of the Detroit International Auto Salon.

"There are an increasing number of Chinese auto companies and their suppliers who are eager to bring their products to the international market," stated David Mei. "The Detroit International Auto Salon provides these suppliers with the premier North American outlet to showcase their products, and take the first step in entering the US market. I am eager to build upon the sales partnerships and network that DIAS has already established, and take our cooperative partnership agreements to the next level," said David.

A spokesperson for DIAS stated they anticipate that the China Operation Center will immediately have a staff of 15, led by Mr. David Mei, with three branches located in Wuhan, Ningbo and Chengdu. The company has been able to create synergy with their sister subsidiary, Asia Forging Supply, which sources millions of dollars of automotive, furniture, and transportation equipment parts and components from China to major customers, such as Navistar, TRW, and TREMEC. Both DIAS and AFS (Asia Forging Supply) are affiliates of DIAS Holding.

About DIAS:

The Detroit International Auto Salon ("DIAS"), is a wholly owned subsidiary of DIAS Holding, Inc. (www.diasholding.com ). Located in the Detroit metropolitan area, it is the largest independent, year-round, global exhibition center for automotive products, with expansion space of over 300,000 square feet, and a focus on innovation and state-of-the-art-auto technology, components, systems and related products. For more information about DIAS, please visit http://www.detroitautosalon.com.

Forward-Looking Statement

This release contains forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995), other than historical facts, which reflect the view of DIAS's management with respect to future events. When used in this report, words such as "believe," "expect," "anticipate," "estimate," "intend," "deem," "foresee," "see," "look forward" and similar expressions, as they relate to DIAS and its affiliates or their plans or operations, identify forward-looking statements. Such forward-looking statements are based on assumptions made by and information currently available to DIAS's management. Although management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations are reasonable, and it can give no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from such expectations include, without limitation, the ability of DIAS to execute its business plans domestically and internationally, customer and potential customer acceptance, currency and commodity fluctuations, availability of raw materials, raw material cost increases, and severe interest rate increases. DIAS can provide no assurance that such cost increases can be passed on to its customers through implementation of price increases for DIAS's products. The forward-looking statements contained herein reflect the current views of management with respect to future events and are subject to those factors and other risks, uncertainties and assumptions relating to the operations, results of operations, cash flows and financial position of DIAS. DIAS assumes no obligation to update the forward-looking statements or to update the reasons actual results could differ from those contemplated by such forward-looking statements.

Contact Information

  • For more information, contact:

    DIAS Holding Investor Relations
    Michael Wesney
    Email Contact
    (313) 928-1272

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