RNS Number:2039K
Autobacs Seven Co.Ld
22 April 2003

(Translation)



To Whom it May Concern:
April 19, 2003

Koichi Sumino
Chief Executive Officer and Representative Director
Autobacs Seven Co., Ltd.
13-16, Mita 3-chome, Minato-ku, Tokyo
(Code No. 9832 of the First Section of the Tokyo and the Osaka, London)
Person to Contact:
Masaaki Takizawa
Corporate Planning & Control Office
Telephone No: 03-3454-0433


 Re: Establishment of Joint Venture Companies for Business Expansion into China


Please be advised that we have resolved at the Board of Director's meeting held
on April 8, 2003 to establish joint venture companies for business expansion
into China as follows:


1       Purpose of Establishing Joint Venture Companies

The purpose is to make a full-scale business expansion into the Chinese market,
which is continuously showing a rapid economic growth, and to promote a new auto
culture in such market.


2.      Location of Head Office of the Joint Venture Companies

Shanghai, People's Republic of China (scheduled)


3.      Date of Establishment and Opening of Business of the Joint Venture
Companies

Official establishment is scheduled to be in June 2003.


4.      General Information on the Joint Venture Companies

A store operating company and a wholesale company will be established in the
People's Republic of China.

        1)      Other Investing Companies

                Paian Auto Group (Paian Auto Service Co., Ltd. and Paian Auto 
                Sales Co., Ltd.)and KOSHIDA CORPORATION

        2)      Principal Business

                (i)       Store Operating Company:

                          Sale, installation and replacement of automobile 
                          supply and parts through Autobacs stores

               (ii)       Wholesale Company:

                          Wholesale to Autobacs stores and export and import of 
                          Japanese and Chinese products

                 The official name, capital, percentage of shares and officers 
                 of each of the joint venture companies will be determined in 
                 May 2003.


5.      Future Plans

We are planning to open the first directly managed store in Shanghai in 2003 as
a model store, and to gradually expand the number of stores, aiming to start
franchising in 2005.


Outside Japan, we are currently operating six stores in Taiwan, one store in
Singapore, one store in Thailand and two stores in France.


(For your information)


General Information on Paian Auto Group (as of March 31, 2002)

(1)      Trade Name: Paian Auto Service Co., Ltd. and Paian Auto Sales Co., Ltd.

(2)      Date of Incorporation: 1999

(3)      Location of Head Office: No 1078 Qi Xin Road, Shanghai, China

(4)      Representative: Xie Wen  President and Representative Director

(5)      Capital: 6 million yuan (approximately 90 million yen)

(6)      Number of Employees: 102

(7)      Principal Business: Sale and installation and replacement services of
         automobile supply, and sale of new cars

(8)      Sales Amount: 26 million yuan (approximately 390 million yen) (as of
         business year ended in December 2002)


General Information on KOSHIDA CORPORATION (as of March 31, 2002)

(1)      Trade Name: KOSHIDA CORPORATION

(2)      Date of Incorporation: 1930

(3)      Location of Head Office: 2-9, Higashi-Shinbashi 2-chome, Minato-ku,
         Tokyo

(4)      Representative: Kazunori Watanabe  President and Representative
         Director

(5)      Capital: 158 million yen

(6)      Number of Employees: 299

(7)      Principal Business: Wholesale of automobile-related products, mobile
         phones, information & communication equipment, etc.

(8)      Sales Amount: 59.7 billion yen (as of business year ended in March
         2002)


General Information on Autobacs Seven Co., Ltd. (as of September 30, 2002)

(1)      Trade Name: Autobacs Seven Co., Ltd.

(2)      Date of Incorporation: August 1948

(3)      Location of Head Office: 13-16, Mita 3-chome, Minato-ku, Tokyo

(4)      Representative: Koichi Sumino  Chief Executive Officer and
         Representative Director

(5)      Capital: 31,958.7 million yen

(6)      Number of Outstanding Shares: 37,473,679 shares

(7)      Number of Employees: 3,635

(8)      Principal Business: Sale, import and export, and installation and
         replacement services of automobile supply
         Franchise operation of full-line specialty stores of automobile supply 
         named ''AUTOBACS'', etc.

(9)      Sales Amount: 227,737 million yen (as of business year ended in March
         2002)




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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