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Honda to Retain Odyssey Name; Export/Import Plans Announced

20 May 1998

Honda to Retain Odyssey Name for New Minivan; Export/Import Plans Announced

    TORRANCE, Calif., May 20 -- The all-new 1999 Honda minivan
will retain the Odyssey name when it goes on sale in North America this fall,
American Honda Motor Co., Inc. confirmed  today.
    The announcement was one of several made during the release of 1998 fiscal
year results Wednesday in Japan (3:30 A.M. EST) by Honda Motor Co., Ltd.
Other announcements affecting North American operations included:

    * The current Odyssey, which is imported from Japan, will be replaced in
North America by the all-new, much larger model, beginning with the '99 model
year.  The North American-market Odyssey will be made on a new assembly line
currently under construction at Honda of Canada Mfg., Inc. in Alliston,
Ontario;
    * The all-new Acura TL luxury performance sedan, which goes into
production this fall at Honda of America Mfg. Inc.'s Marysville (Ohio)
Assembly Plant, will also be exported to Japan, where it will be sold as the
Inspire and Saber. Marysville will be the sole source of TL, Inspire and Saber
production;
    * In an effort to meet continued strong consumer demand in North America
for the new Accord, Honda's plant in Sayama, Japan, will begin production of
Accord sedans for export to the U.S. beginning with the '99 model year.  Some
of this production will be exported to distributors in Asia and the Middle
East that also sell the larger North American-market Accord models;
    * Overall 1999 fiscal year (April 1, 1998 - March 31, 1999) imports from
Japan to the U.S. will remain consistent with '98 levels at about 240,000.

    "These moves will help us better meet consumer demand and balance
production capabilities around the world," said Tom Elliott, American Honda
executive vice president.  "While our import numbers will remain at the same
level as last year, our exports will actually increase slightly."
    Honda was the leading North American car exporter during 1997 with about
58,000 exports.  Exports are expected to be about 60,000 in 1998.
    The all-new North American-built Odyssey will be the largest vehicle ever
made by Honda and will be as big and more powerful than any minivan on the
market.  The Acura TL is the second Acura model (following the Acura CL) to be
designed, engineered and manufactured in North America.