Nissan Announces Production of Two New Vehicles and a New Engine in Spain

Tokyo, Japan, July. 03, 2003 - (JCN Newswire) - Nissan today announced
an investment of 400 million euros in its Nissan Motor Iberica SA
(NMISA) plants for the production of two new vehicles - a 4x4 Sport
Utility Vehicle (SUV) and a Pick Up - as well as a new 2.5 litre common
rail diesel engine. Production is due to begin in 2005. 

The two new vehicles will be produced at Nissan's Barcelona plant. They
will reinforce Nissan's 4x4 line-up and increase the company's
competitiveness in this European market sector. 

The company is targeting a combined annual production of 80,000 units of
the two new vehicles. 

The investment in Barcelona is part of Nissan's strategy to develop its
Zona Franca plant as a 4X4 & LCV hub, combining vehicle, engine and
gearbox manufacturing. All of Nissan's research and development
activities in Spain will also be combined in one single location in
Barcelona.

NMISA also plans to begin a gradual winding down of its engine assembly
operations in Cuatro Vientos, Madrid over a three-year period. Under
these plans, three of the four engine families currently manufactured
there would be phased out in line with Euro IV emissions legislation
requirements and be replaced by new diesel engines sourced either from
Nissan or other manufacturers. 

The new 2.5-litre diesel common rail would begin production at Cuatro
Vientos, before being transferred to Nissan's hub in Barcelona in
mid-2006.

NMISA intends to offer a new position to all Cuatro Vientos employees.
The company is announcing its plans early to allow time to work together
with employee representatives to try to find the best solution for each
individual. 

Last year, Nissan manufactured 383,000 vehicles in Europe, accounting
for 80% of Nissan's European sales. The company has been producing
Nissan vehicles and light trucks in Spain since 1983 and last year
produced 85,000 vehicles. Nissan currently employs 6,000 people across
the country in manufacturing, research and development, sales and
marketing, parts and logistics operations.


About Nissan Motor Co., Ltd.

Nissan Motor Co., Ltd.  was established in
1933 to manufacture and market the Datsun, a small passenger car, and
related automotive components. The company is Japan's second
largest automobile manufacturer and the world's fifth, with annual
global sales of 2,415,433 vehicles. The company markets a wide range of
passenger cars, commercial vans, trucks and buses, parts and components
in over one hundred and seventy countries. The company has also expanded
its operations to include forklifts, textile machinery and other
industrial machinery and equipment. Nissan's affiliation with
French automaker Renault in 1999 has helped produce Nissan's best
results in a decade. The company has three hundred and forty two
consolidated subsidiaries worldwide. Consolidated sales in FY 2000
exceeded $49 billion dollars (Euro 55 billion.)For further information,
please visit the Nissan Motor Co., Ltd. home page at:
www.nissan.co.jp/EN/ <http://www.nissan.co.jp/EN/>