SUPPLEMENTAL NISSAN NEWS From: Corporate Communications Dept.
A30-SN-8053 Date: July 27, 1998

Nissan Motor, Nissan Diesel and Daimler- Benz to jointly develop light commercial vehicles

(Tokyo / Stuttgart ) Nissan Motor, Nissan Diesel and Daimler-Benz plan to jointly develop and build a light commercial vehicle. The vehicle will be designed for the fast growing demand in the 3 to 9 ton GVW ( Gross Vehicle Weight ) segment of commercial vehicles especially in Japan, ASEAN, Latin America and other emerging markets. The sales organizations of Nissan Motor, Nissan Diesel and Daimler-Benz will all be used for the distribution of these vehicles. It is the intention that the new concept should serve as a worldwide platform for a new generation of light trucks.

While Nissan Motor, Nissan Diesel and Daimler-Benz intend to manufacture this product in their existing production facilities, the companies will exchange components and will combine their respective development and production know how in a joint program.

This basic agreement was signed on July 27th, 1998. It gives the formal frame for the specifications for development of a light commercial vehicle and shall be succeeded by contracts founding a long-term cooperation.

Yoshikazu Hanawa, President of Nissan Motor, said:“ I am convinced that this cooperation in the commercial vehicles business with Daimler-Benz will play a very important role for strengthening of all Nissan Group’s business at the global level.”

Hirofumi Nakazawa, President of Nissan Diesel, commented on the first results of the talks: “ I am very glad for this agreement which allows us to start the joint development of a light commercial vehicle at global scale while we are studying the possibilities of various joint projects with Nissan and Daimler-Benz. I am sure that this agreed project will be the firm first step towards the future success of the three companies.”

Daimler-Benz Chairman Jurgen E. Shrempp said: “This cooperation will be an important step towards expanding our commercial vehicles business in the Eastern Hemisphere. It will be an integral part of the Daimler-Benz
Asia strategy.”

Kurt J. Lauk , management board member of Daimler-Benz with responsibility for the commercial vehicles business, added: “This start of a long-term partnership will offer us new and profitable growth opportunities in a very attractive market segment. With the combination of our know how and components, each of the partners will contribute their respective strengths and enable us to offer a light commercial vehicle at a very competitive price.”

In order to utilize the development experience of Nissan Group and Daimler-Benz in the light commercial vehicles segment, Daimler-Benz will bring into this partnership its Light Truck Project, a project group of engineers and specialists based in San Paulo, Brasil. Nissan Group will also shift its development resources for light commercial vehicles into the partnership. The coordination of joint project group will be located in the headquarters of Nissan Diesel in Ageo, Japan.

Nissan Motor
Nissan is the 2nd largest in Japan and the world’s 6th largest auto manufacturer to produce 2.8 million vehicles annually on a global basis and it employs approx. 137,000 people globally. It is also renowned worldwide that Nissan’s products have durability, reliability, and high quality featuring remarkable advanced technologies. And aside from auto manufacturing, Nissan is also known for Aerospace, Forklift, and Marine business. All Nissan products and services are well received by world customers.

Nissan Diesel
Nissan Diesel, specialist of trucks and buses in Nissan Group, is the 4th
largest amongst Japanese commercial vehicles manufacturers. Its diesel engines are well reputed particularly because of the high power output and the low fuel consumption. The number of personnel are 16,000. Nissan Diesel has already expanded mainly in Asian countries with production facilities and it has started from this year the full scale production of trucks and buses in China under the form of a joint venture with a local partner. The products of Nissan Diesel are marketed in 69 countries worldwide through 76 distributors.

Daimler-Benz
Daimler-Benz is Europe’s largest industrial company and in 1997 generated turn over of DM 124 billion and an Operating Profit of DM 4.3 billion. 23 business units, housed in the divisions Passenger Cars, Commercial Vehicles, Aerospace, Services and the Directly Managed Businesses (Rail, Automotive Electronics and Diesel Engines), employ 300,000 people worldwide. The prime mission of Daimler-Benz is to increase corporate value in the interests of both employees and shareholders, to develop innovative products for its customers and to continue the internationalization of the Group.

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Contacts:
Nissan Motor Co., Ltd. Daimler-Benz
Corporate Communication Dept. Corporate Media Relations

tel: ++81-3-5565-2147 tel: ++49-711-1793311
fax: ++81-3-3546-2669 fax:++49-711-1794686

Nissan Diesel Motor Co., Ltd.
Public Relations Dept.

tel: ++81-3-3294-9191
fax: ++81-3-3294-9298