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NISSAN TO ESTABLISH $5 MILLION FOUNDATION FOR SOUTH CENTRAL LOS ANGELES REDEVELOPMENT

 NISSAN TO ESTABLISH $5 MILLION FOUNDATION
 FOR SOUTH CENTRAL LOS ANGELES REDEVELOPMENT
 Los Angeles Urban League to be First Grant Recipient
 LOS ANGELES, July 20 /PRNewswire/ -- Nissan Motor Corp. in U.S.A. today announced the establishment of a $5 million endowment to address economic development in South Central Los Angeles.
 Funding for the endowment, to be called The Nissan Foundation, will commence this year with a $1 million initial deposit. Nissan will continue to endow the Foundation with $1 million per year for the remaining four years. Grants will be generated from the endowment's interest earnings and will be directed to programs that create employment and foster economic development in the South Central Los Angeles community.
 Grant monies are expected to be made available to qualifying applicants beginning in June 1993.
 "When people have work and purpose, their self-esteem and hope follow," said Thomas D. Mignanelli, president and chief executive officer of Nissan Motor Corp. in U.S.A. "Those personal characteristics build community pride. We want to support the community with long-term solutions. The Nissan Foundation will provide that opportunity."
 The Los Angeles Urban League, an established Nissan partner in the Los Angeles community, will be the first organization to benefit from the Foundation. The Urban League will receive 25 percent of the Foundation's grant monies annually, beginning in June 1993.
 "This kind of core-issue major commitment by Nissan provides the support our constituents and city need now," said John W. Mack, president of the Los Angeles Urban League. "Los Angeles' recent rebellion emphasized urgent problems confronting African-Americans, Latinos and other minorities, which require comprehensive solutions in Los Angeles. The underlying economic, educational and other serious problems are not limited to any single minority group nor city. The Nissan Foundation's focus on long-term solutions is the approach necessary to ensure that everyone is included at the table of opportunity."
 Details regarding The Nissan Foundation's funding guidelines will be announced in autumn of this year.
 Nissan directly employs nearly 10,000 people in the United States and generates an additional 50,000 jobs through its 1,200 Nissan and Infiniti dealerships across the country.
 -0- 7/20/92
 /CONTACT: Don Spetner, 310-719-5963, or Julie Meyer,


310-769-2037, both for Nissan Motor Corp. in U.S.A./ CO: Nissan Motor Corp. in U.S.A. ST: California IN: SU:

CH-AL -- LA017 -- 0813 07/20/92 14:21 EDT
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Publication:PR Newswire
Date:Jul 20, 1992
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