[NEWS RELEASE CONTACT: Gary S. Maier/Crystal Warner Maier & Company, Inc. (310) 442-9852 HIGHWAY HOLDINGS SIGNS COOPERATION AGREEMENT AND PURCHASES ASSETS FROM JAPANESE TOOL MAKER --Sophisticated Tooling and Measurement Equipment Enhances Its Plastics Operations-- HONG KONG —February 8, 2007 — Highway Holdings Limited (Nasdaq:HIHO) today announced it has signed a cooperation agreement with Kyoei Engineering Co. Ltd. of Japan and] [NEWS RELEASE CONTACT: Gary S. Maier/Crystal Warner Maier & Company, Inc. (310) 442-9852 HIGHWAY HOLDINGS REPORTS FISCAL 2007 THIRD QUARTER RESULTS -- Net Sales Up 36.5 Percent, Net Income Climbs 23.4 Percent for Nine Months -- HONG KONG —February 14, 2007 — Highway Holdings Limited ( Nasdaq: HIHO ) today reported results for its third fiscal quarter ended December 31,]

[HIGHWAY HOLDINGS LIMITED By Roland W. Kohl Chief Executive Officer]

[HIGHWAY HOLDINGS LIMITED By Roland W. Kohl Chief Executive Officer NEWS RELEASE]

[HIGHWAY HOLDINGS LIMITED Roland W. Kohl]

[HIGHWAY HOLDINGS LIMITED Roland W. Kohl Chief Executive Officer NEWS RELEASE]

[Suite 810, Level 8 Landmark North 39 Lung Sum Avenue Sheung Shui New Territories, Hong Kong Form 20-F x o Form 40-F o x Yes HIGHWAY HOLDINGS LIMITED By Roland W. Kohl Chief Executive Officer]