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2003
Press Release

Apri 1, 2003
Isuzu Motors Limited
TRANSLATION
For immediate release

Isuzu Changes Production Relocation Schedule


Tokyo, April 1, 2003 - Isuzu Motors Limited today announced that Isuzu will postpone production relocation schedule of its Kawasaki operations in order to meet sharp increase in Japan's heavy duty commercial vehicle demand and vehicle export volume increase. The earlier relocation schedule announced in December 2002 is now being changed as follows:

1. Domestic Production Relocation Schedule: Revision
Plant Current Operation To relocate
operation to:
Original Schedule Revised Schedule
Kawasaki HD CV assembly Fujisawa Oct. 2003 May 2004
4-ton transmission assembly Dec. 2002 Completed
HD transmission assembly Oct. 2003 May 2004
HD engine assembly Tochigi Feb. 2003 May 2004
Tochigi 4-ton trans-axle assembly Fujisawa Jan. 2003 Completed
7 to 10-ton axle assembly Oct. 2004 May 2004

2. Background of schedule change:
Because of domestic demand increase triggered by planned introduction of the new emission standards in Japan, as well as considerable volume increase in export to growth market like China, Isuzu Kawasaki Plant is now running at high utilization rate, producing considerable volume of heavy-duty commercial vehicles. Under these circumstances, if Isuzu were to implement the consolidation and relocation plan in accordance with the original schedule, Isuzu would do a considerable disservice to our valued customers and fail to meet its responsibilities to continue product supply without any interruption. With no change of the schedule, Isuzu would not be able to contribute to a sound promotion of environmental protection by encouraging replacement of existing fleet to Isuzu's new models. Isuzu therefore came to a decision that the relocation schedule should be changed.

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