Mr Toshiyuki Shiga, Senior Vice President of General Overseas Markets, Nissan Motor Co. announced today that Mr Leon Daphne, Chairman of Nissan Motor Co. (Australia) Pty. Ltd., would retire from the Nissan group of companies on 31st December 2004.

Mr. Yasuaki Hashimoto, currently a Director of Nissan Motor Co. (Australia) Pty. Ltd., will assume Mr. Daphne’s role as Chairman of Nissan Motor Co. (Australia) Pty. Ltd.

Mr Daphne, who is currently Managing Director of the Nissan Casting Plant in Australia and Chairman of Nissan New Zealand, will progressively hand over his responsibilities for those roles during the next few months.

Mr. Graeme Luxford, currently Plant Manager of the Nissan Casting Plant, will replace Mr. Daphne as Managing Director of Nissan Casting, on 1st November, 2004.

Mr. Shinya Hannya, Managing Director of Nissan Australia, will add to his responsibilities by replacing Mr. Daphne as Chairman of Nissan New Zealand on 1st December, 2004.

Mr Shiga acknowledged the important contribution that Mr Daphne has made to the Nissan business in Australia, leading the company through difficult circumstances after the closure of manufacturing to a successful recovery highlighted by strong sales growth and record profit levels.

Mr Patrick de Brot, Vice President of Renault Asia Pacific announced that Mr Daphne, who is also Managing Director of Vehicle Distributors Australia (responsible for Renault distribution in Australia) will hand his role to Mr Rudi Koenig, effective immediately. Mr Koenig is currently Director of Operations, Vehicle Distributors Australia.

Mr De Brot thanked Mr Daphne for his prominent role in the re-introduction of Renault into Australia.