Mazda and Isuzu Agree on OEM Supply of Isuzu Small Truck

Tokyo, Japan, July. 04, 2003 - (JCN Newswire) - Mazda Motor Corporation
and Isuzu Motors Limited have signed a basic
agreement on OEM supply of the Isuzu "Elf" small truck series to Mazda.
Mazda will sell the vehicles as "Titan" at its nationwide dealerships in
Japan.

Mazda and Isuzu have agreed on the OEM supply with a mutual interest in
commercial vehicle strategy reflecting changes surrounding commercial
vehicles, such as the expected introduction of new diesel engine
emission regulations. Mazda and Isuzu have a strong relationship
maintained through Isuzu diesel engine supply business for a long period
of time.

This OEM agreement allows Mazda to continue supplying a wide-range of
competitive Titan trucks that meet the new regulations, while focusing
its business resources on its strengths of passenger vehicles and other
commercial vehicles. Isuzu, on the other hand, aims to strengthen its
commercial vehicle business with leading-edge diesel engine technology
and enhanced competitiveness through the incremental production volume
of Elf trucks resulting from this agreement.

Outline of the agreement is as follows:

Isuzu will supply vehicles to Mazda. 
- Product name to be used by Mazda: "Titan" 
- Product to be supplied by Isuzu: "Elf" small truck (compliant with the
2003 New Short-term Emission Regulations) 
- Supplier: Isuzu 
- Purchaser: Mazda 
- Sold in: Japan 
- Start of the sales: In the 2nd half of 2004
- Supply volume: 6,000 units/year 

Mazda Motor Corporation will continue production and procurement of the
commercial vehicles, and provide them at its nationwide dealerships. 

Production and sales of the Titan 
Mazda will continue to provide the Titan through an OEM basis agreed
between Mazda and Isuzu, while the production of the current Titan,
which Mazda outsources to Press Kogyo, will cease in late 2004, based on
the contract between the two companies. The small truck "Titan" will be
available at Mazda and Mazda Anfini dealerships throughout Japan. 

Production and sales of other trucks 
The production of the Titan Dash, Bongo truck and Bongo Brawny truck
(for export) will commence at Press Kogyo's Onomichi Plant from August
this year. Mazda will continue to outsource the production of these
three products, even after the Titan production has ceased in late 2004.


Production and sales of other commercial vehicles 
Mazda will continue production and procurement of other commercial
vehicles such van-type commercial vehicles as Bongo van and Bongo Brawny
van, as well as mini trucks. These vehicles will be available at its
nationwide dealerships.


About Mazda Motor Corporation

Mazda Motor Corporation was established in 1920 and is one
of Japan's leading automobile manufacturers. With its headquarters
in Hiroshima, Mazda has two plants in Japan and manufacturing and
assembly operations in sixteen other countries. Mazda cars and trucks
are sold in more than one hundred and thirty countries. Ford Motor and
Mazda agreed to collaborate in 1979, Ford Motor Company started
investing in Mazda and increased its shareholding to 33.39% as of March
31, 1999. For further information, please visit the Mazda Motor
Corporation home page at: www.mazda.com/flash.html
<http://www.mazda.com/flash.html> 

About Isuzu Motor Limited 

Isuzu Motor Limited was established in 1937. Isuzu&apos;s principal
activities are the manufacture and distribution of automobiles and motor
vehicle parts and components. Principle divisions are Automobiles
(passenger cars, trucks, buses, engines, components and parts for
overseas production), Finance (credit services and leasing) and Real
Estate.For further information, please visit the Isuzu Motor Limited
home page at: www.isuzu.co.jp <http://www.isuzu.co.jp>