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NISSAN ANNOUNCES SPONSORED ADR PROGRAM

 NISSAN ANNOUNCES SPONSORED ADR PROGRAM
 NEW YORK, March 24 /PRNewswire/ -- Nissan Motor Co., Ltd. today


announced the establishment of a sponsored American Depositary Receipt (ADR) program with The Morgan Guaranty Trust Company of New York. One ADR will represent two ordinary shares and will trade on NASDAQ National List under the symbol NSANY. The program will be activated in New York today, March 24, 1992. Nissan said that un-sponsored ADRs in the company will be exchanged for sponsored ADRs at no cost to current holders.
 Nissan said it has undertaken sponsorship of the ADR to provide an efficient and convenient method for U.S. dollar-based investors to fully participate in the ownership of Nissan stock. The program will allow the company to further internationalize its shareholder base.
 According to Nissan officials, this decision is consistent with the company's overall North American localization plan. Nissan's integrated operations in North America now encompass sales and design in California, finance in New York and California, manufacturing in Tennessee, and research and development in Michigan.
 For the fiscal year ended March 31, 1991, Nissan's net sales were 5,964.9 billion yen (U.S. $42.3 billion). In fiscal 1991, North American units' sales accounted for 21 percent of total worldwide vehicle sales. Nissan is the world's fourth-largest automotive manufacturer and employs over 8,700 people in the United States and Canada.
 The company's ordinary shares trade on the Tokyo Stock Exchange, other major Japanese exchanges and the Frankfurt Stock Exchange.
 The CUSIP number for the sponsored ADR will be 654744 40 8.
 -0- 3/24/92
 /CONTACT: Shuji Kawasaki or Jim Gill, 313-393-1893, or Seth Petok, 212-765-4113, all of Nissan/
 (NSANY) CO: Nissan Motor Co., Ltd.; The Morgan Guaranty Trust Company ST: Michigan, New York IN: AUT SU:


JG-KK -- DE001 -- 0899 03/24/92 08:04 EST
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Publication:PR Newswire
Date:Mar 24, 1992
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