---

Joint Statement by the Companies Representing International Automakers

23 October 1998

Joint Statement by the Companies Representing International Automakers

    TORRANCE, Oct. 23 -- The October 23 Kyodo News Service report
indicating that a basic agreement has been reached to create a new association
that will include the American Automobile Manufacturers Association (AAMA) and
international automakers including Toyota Motor Corp., Nissan Motor Co., Honda
Motor Co., Mitsubishi Motors Corp., and Bayerische Motoren Werke AG (BMW) is
completely inaccurate.  Discussions are ongoing, but no issues whatsoever have
been resolved.