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Nissan & Renault Announce Agreement on Diesel Group

6 February 2000

    TOKYO -- As announced in December, Nissan Diesel its core banks and Nissan 
Motors, assisted by Renault, have worked together in order to strengthen the 
operations of Nissan Diesel.

    The parties have reached an agreement along the following lines:

    -- To begin operational cooperation in the near future, Nissan Diesel and
       Renault Vehicules Industriels will work together at finalizing the
       following specific items: supply of Nissan Diesel engines to Renault
       and Renault Vehicules Industriels; distribution of a Renault light
       commercial vehicle in Japan by Nissan Diesel; distribution of two
       Nissan Diesel light duty trucks by the Renault V I/ Mack Group.

    -- Nissan will assist Nissan Diesel in
       reinforcing its management

    -- Nissan Diesel's Ageo Plant will be securitized by the core banks

    -- Commitment facilities extending 4 years with core banks will be made

    -- Nissan Diesel will dispose of its marketable securities

    -- After necessary preparation and documentation, Nissan Diesel will issue
       a convertible bond of approximately 5 billion yen.

    This agreement will be reinforced before the end of April 2000 by a new
set of measures aimed at further strengthening Nissan Diesel's business plan
with new opportunities of profitable growth.