Jed ConnellySenior Vice President, Sales and MarketingNissan North America, Inc.June 1, 2005

COMBINED SALES 627,700 UNITS

1998 RESULTS1,000,000

900,000

800,000

700,000

600,000

units

2004 RESULTS

SALES 1,013,0001,000,000

900,000

800,000

700,000

600,000

units

• 61% INCREASE

• UP 191,000 UNITS

• LOW INCENTIVES

• HIGH RESIDUALS

• RECORD DEALER PROFITS

$8 BILLIONOPERATING PROFIT

NISSAN TODAY

10% RETURN

THE NISSAN APPROACH

A SYSTEM FOR SUCCESS

PRODUCTS FOR THE FUTURE

STAYING THE COURSE

NEW PRODUCTS

FUTURE PRODUCTS

NEW SENTRA

NEW ENTRY-LEVEL SEDAN

NEW ALTIMA

MORE TO COME …

THE MILLENNIALS

PRODUCT BUZZ

PRODUCT BUZZ

PRODUCT BUZZ

BREAKTHROUGH PRODUCTS

INFINITI M

FUTURE PRODUCTSWHERE ARE THE NEW PRODUCTS FOR TOMORROW?

COMPANY PROFITSINCENTIVE DRIVEN SALES?

JUNK IN THE TRUNK

THE REAL COST OF INCENTIVES

US SALES 17,000,000

$17,000,000,000 x $1,000incentives

THE REAL COST OF INCENTIVES

US SALES 17,000,000

$51,000,000,000 x $3,000incentives

THE REAL COST OF INCENTIVES

THE GOOD NEWS

FIND NEW WAYS TO MARKET OUR VEHICLES

MOVING AWAY FROM INCENTIVES

THE PROOF …IS IN THE PARKING LOT

RETAIL NETWORK

RETAIL NETWORK

Jed ConnellySenior Vice President, Sales and MarketingNissan North America, Inc.June 1, 2005