March 19, 1999
Nissan Motor Co., Ltd.
Corporate Communications Department
Statement
On March 17, Nissan received a formal business tie-up proposal from Renault which includes taking an equity stake in Nissan Motor Co., Ltd. At this time, we are seriously evaluating the proposal and believe it has many positive merits. Nissan will make a final decision about Renaultfs formal proposal, which outlines an alliance between our two companies, on March 27. At that time, a special board meeting will be scheduled to assess and make a final decision on Renaultfs formal proposal.h
For attribution to Mr.Yoshikazu Hanawa:
gA potential business tie up with Renault will give Nissan significant benefits and synergies in many areas particularly in regional business and market opportunities, and in the product technology arena. I am confident that such a partnership would enable our two companies to be one of the strongest and most competitive auto manufacturers in the World. h
Contact: Foreign Media Section
Tel: 81-3-5565-2147
March 19, 1999
Nissan Motor Co., Ltd.
Corporate Communications Department