Press Release

April 28, 2008

Isuzu shifts Indonesian operations to new organizations
- Increasing its share in P. T. Pantja Motor
and strengthening Indonesia Commercial vehicle("CV") business -

Isuzu Motors Limited (Head Office: Shinagawa Ward, Tokyo; President and Representative Director: Susumu Hosoi; hereinafter called "Isuzu") increases its share of investment in Indonesian CV manufacturer and distributor PT Pantja Motor (hereinafter called "Pantja") to 44.94%. The company name of Pantja is also changed into "Isuzu Astra Motor Indonesia."

In this connection, PT Astra International Tbk, parent company of AK, transferred its licensed rights and functions of the CV distributor in Indonesia to Isuzu Astra Motor Indonesia and start from this moment Isuzu will take the initiative in running the CV business.

In February, Isuzu made Pantja its equity consolidated company, and dispatched a director in charge of CV operations to Pantja. Currently, Pantja is owned 50.0% by PT Arya Kharisma (Head Office: Jakarta, Indonesia; President: Regina Okthory Sucianto; hereinafter called "AK"), 39.88% by Isuzu, and 10.12% by PT Perusahaan Perdagangan Indonesia (Persero) or PPI. This time Isuzu purchases an additional 5.06% from shares of Pantja held by AK to increase its share of investment to 44.94% equal to AK's 44.94% share of investment in Pantja. Simultaneously, Isuzu dispatched a new president to Pantja.

Among the southeastern Asian countries, Indonesia is the biggest market for the light-duty trucks in which Isuzu is strong. This time, taking the opportunities of the increase in its share of investment in Pantja, Isuzu will try hard to strengthen the CV business. In the future, Isuzu will focus on manufacturing and sales of the CV, with a view to gaining a higher market share. Isuzu will also work hard to expand, strengthen and stabilize the CV business, thereby positioning the Indonesia operations as another pillar of Isuzu's strategy for the ASEAN operations as already done in Thailand.

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