SUPPLEMENTAL NISSAN NEWS
A30-SN-9058
From: Corporate Communications Department
Date: October 1, 1999

The Sale of Investment Securities and the Reversal of Securities Appraisal Loss

1. The Sale of Investment Securities

(1) The sale of Investment Securities

• Stock of Nine Mobile and Car Telephone Companies Held by Nissan

(Breakdown)

• Entire holding in the three TU-KA companies (See Note 1)
• All except a 5.5% stake in each of the six Digital TU-KA companies (See Note 2)

(2) Gross Sales Amount and Capital Gain

• Gross Sales Amount: ¥32,518 million
• Capital Gain : ¥25,348 million
• The capital gain will be posted as an extraordinary profit in the financial results for the first half(April 1 - September 30, 1999) of the fiscal year ending March 31, 2000.

(3) Buyer

• The three TU-KA companies: DDI Corp.
• The six Digital TU-KA companies: Japan Telecom Co., Ltd.

(4) Closing Date

• 30 September, 1999

(5) It is agreed to sell the remaining 5.5% stake in the six Digital TU-KA companies.

The deal will close by the end of this fiscal year.

• Agreed sale price: (¥1,760 million; capital gain which will be recognized in the 2nd half: ¥880 million)

(Note 1)

The three TU-KA companies:

TU-KA Cellular Tokyo Inc.

TU-KA Cellular Tokai Inc.

TU-KA Phone Kansai Inc.

(Note 2)

The six Digital TU-KA Companies:

Digital TU-KA Hokkaido Co., Ltd.

Digital TU-KA Tohoku Co., Ltd.

Digital TU-KA Hokuriku Co., Ltd.

Digital TU-KA Chugoku Co., Ltd.

Digital TU-KA Shikoku Co., Ltd.

Digital TU-KA Kyushu Co., Ltd.

2. Reversal of Securities Appraisal Loss

Marketable securities held by the Nissan Motor Co., Ltd., are subject to appraisal in accordance with the "lower of cost or market" method.

The recovery in prices of certain securities have led Nissan to reverse losses booked in the prior accounting period as stated below.

• The reversal of securities appraisal losses incorporated at the end of September 1999: ¥13,450 million.

Also, regarding the forecast for the financial result of the first half (April 1 - September 30, 1999), we plan to carry out a revision as and if necessary.

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