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Earnings Release

October 4, 2006
Translation

Company Name: Isuzu Motors Limited
Representative : Yoshinori Ida
President and Representative Director
(Code No.7202, 1st Section, Tokyo Stock Exchange)
Contact Person : Hirotoshi Kouyama,
General Manager, General Affairs,
Corporate Administration Division,
Isuzu Motors Limited
(TEL : 03-5471-1141)


Announcement on Change to Major Shareholder of the Company


Isuzu Motors Limited announced today a change to its major shareholder on October 3,2006 as follows:

1.  Background of Change
Since the period began on October 1, 2006 when a request can be made for acquisition of the Class-I preferred stock issued by the Company, Mitsubishi Corporation, the Class-I preferred stock holder, requested the Company to acquire shares of Class I preferred stock issued by the Company and purchased by Mitsubishi Corporation, and replace these shares with the prescribed number of shares of the Company's common stock.

2.  Name of the Shareholder
(1) Name Mitsubishi Corporation
(2) Headquartered 2-3-1 Marunouchi, Chiyoda-ku, Tokyo
(3) Representative Yorihiko Kojima, President and Representative Director
(4) Main Line of Biz Encompasses a wide range of business areas: domestic and international transaction, import and export of energy, metal, machinery, chemicals, general and other various products as well as provision of various services relative to information, finance, logistics, and business investments in and outside Japan.

3.   The Number of Shares Held by the Shareholder(No. of Voting Rights)and Its Ratio to the Number of Voting Rights Held by All Shareholders
  No. of Voting Rights
(No. of shares held)
Ratio to the No. of Voting Rights of All Shareholders * 
Pre-change(as of Oct.2, 2006) 42,420 rights
(42,420,000 shares)
3.51%
Post-change 216,487 rights
(216,487,881 shares)
15.65% * *
* The number of voting rights of all shareholders before the change(as of Oct.2, 2006) 1,209,104 rights
  The number of voting rights of all shareholders after the change 1,383,171 rights
* * After the change, Mitsubishi Corporation has become the largest shareholder of the Company.

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