Opening Ceremony of Isuzu Ukraine

Isuzu Motors Limited (Isuzu) held the opening ceremony of Isuzu Ukraine [Isuzu Automotive Company, Ukraine], a truck/bus sales joint venture in Ukraine, at Bogdan headquarters on April 28, local time.

Approximately 500 people related to the venture participated in the ceremony, including Isuzu President Yoshinori Ida, Bogdan President Oleg Svinarchuk, and Sojitz Corporation (Sojitz) Managing Executive Officer Kazunori Teraoka.

In the speech of the ceremony, President Ida said I am honored to participate today in the establishment of Isuzu Ukraine with Bogdan, Sojitz, and Isuzu, feeling both the huge responsibility and strong expectations for this Ukrainian market. We shall make every effort so that the establishment and future success of Isuzu Ukraine can play a role in contributing to further strengthen the good relationship between Ukraine and Japan.

Up until now, Bogdan produced and sold light-duty busses using the Isuzu light-duty truck (ELF) platform in Ukraine. Isuzu Ukraine will now be responsible for the sale of Bogdan produced light-duty trucks and busses.

Bogdan produced busses started with sales of just 9 units in 1999, but their outstanding competitiveness as a product saw the figures skyrocket to 1,610 units in 2003, with 3,123 units being delivered in 2005. The projection for 2006 is 3,500 units, with an annual scale of 20,000 units being targeted in the future including exports to the surrounding countries.

Company Name – Isuzu Ukraine(Isuzu Automotive Company, Ukraine)

Established – Scheduled for May, 2006.

Head Office – Kiev, Ukraine

Representative – Alexander A. Dorosh (planned)

Number of Directors – 6 (Bogdan 3[including the representative], Isuzu 2, Sojitz 1)

Capital Stock – 25 million hryvnia (approximately 500 million yen)

Shareholders – Isuzu 30%, Bogdan 50%, Sojitz 20%

Main Business – Sales of Isuzu trucks, and Bogdan busses.

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