Nissan-Renault Responds to GM/Nissan Report

PARIS - July 3, 2006: In a brief formal statement, Carlos Ghosn, President and CEO of Renault and Nissan responded to the approach made by Mr. Kerkorian, Mr. York and representatives of Tracinda Corporation to assess the merits of GM joining the Renault Nissan Alliance:

Carlos Ghosn

"The Renault-Nissan Alliance is an open partnership, which has never been restricted to two partners. Under the right circumstances and with the appropriate partners, the Alliance could be expanded further. Such an expansion would only be considered by the Alliance if it were executed in the full spirit of the Alliance, which is founded on trust, transparency, performance and the full respect for individual corporate and brand identity. At this point, it is necessary that GM Board and top management fully support this project in order to start the study of this opportunity after agreement of Renault and Nissan boards."

See http://www.theautochannel.com/news/2006/07/03/013493.html for the original report.