Asia Automotive Acquisition Corporation Proposed Business Transaction Receives Approval of the Chinese Government

NEW YORK, Aug. 13 /PRNewswire-FirstCall/ -- Asia Automotive Acquisition Corporation announced that was informed by legal counsel for Hunan TX Enterprise Co Ltd. ("TX") that the Changsha Ministry of Commerce has approved the Equity Acquisition Agreement ("Agreement") previously executed among and between the Company and TX on July 25, 2007.

The Company previously announced that pursuant to the Agreement TX would merge with the Company (and its to be formed successor Tongxin International, Ltd.) resulting in TX becoming a wholly owned subsidiary of the Company.

The closing of the merger is subject to certain conditions, including the approval of the transaction by the majority of the Company's stockholders and that fewer than 20% of the Company's stockholders exercise their right to redeem their shares of common stock for cash.

About Asia Automotive Acquisition Corporation

Asia Automotive Acquisition Corporation is a blank check company established on April 19, 2006 for the purpose of effecting a merger, capital stock exchange, asset acquisition or other similar business combination with a then unidentified operating business in the Asian automotive component supply industry.

About TX

TX, founded in 1984, and the largest independent supplier EVBS, has built a substantial reputation within the Chinese automotive industry with proven management and a successful operating track record. TX will be well positioned to take advantage of the increasing demand for EVBS by the growing Chinese automotive industry.