Press Release

November 5, 2008

Isuzu Reorganizes North American Business Structure
- Establish Local Operation Control Company -

Isuzu Motors Limited(headquartered in Shinagawa, Tokyo, President and Representative Director, Susumu Hosoi, hereinafter called Isuzu) has announced the establishment of Isuzu North America Corporation (hereinafter called INAC) - a holding company that controls its North American business - as part of its drive to reorganize its operation in North America.

Isuzu business in North America to date has been run by Isuzu Motors America Inc. (hereinafter called ISZA), Isuzu Commercial Truck of America Inc. (hereinafter called ICTA) and Isuzu Manufacturing Service of America Inc. (hereinafter called IMSA). These three companies are respectively engaged in SUV and industrial engine business, CV business, and commercial vehicle/diesel engine research and development work. And each company is directly invested by Isuzu. Now, Isuzu establishes INAC that controls the three companies under its wing and enhances local operation control function in North America. At the same time, common indirect operations of these companies are integrated into INAC so that three companies can each focus on operation of its expertise for the sake of efficiency enhancement.

This time, Isuzu establishes INAC through investment in kind of its stake in ISZA and the company plans to increase INAC's capital by investment in kind of its stake in ICTA and IMSA by the end of 2008.

In conjunction with this business system revamp, Isuzu Motors Acceptance Corporation (IMAC) - a wholly owned subsidiary of ISZA and a provider of financial service related to vehicle sale - will be dissolved since all credits were collected.

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[Profile of Isuzu North America Corporation (INAC)]
Company Name Isuzu North America Corporation (INAC)
Location Cerritos, California, U.S.A.
Established November, 2008
Representative Makoto Kawahara
Capital $67 million when established, $250 million as of Dec., 2008 (plan)
Shareholder Isuzu Motors Limited, 100%
Main business Control of local subsidiaries and provision of common indirect operations

[Profile of Isuzu Motors Acceptance Corporation]
Company Name Isuzu Motors Acceptance Corporation (IMAC)
Location Cerritos, California, U.S.A.
Established February 1997
Representative Makoto Saito
Capital $98 million
Shareholder ISZA 100%
Main business Financial service related to vehicle sale in North America