Aisin Completes Handy Township Land Purchase; Development of Automotive Proving Ground Underway

750 acre site to test automotive components near Fowlerville, Mich.

PLYMOUTH, Mich., Oct. 7 -- Aisin Holdings of America, Inc. (AHA), holding company for all Aisin Group operations in North America, today announced that it has completed the purchase of some 750 acres of land near Fowlerville in Livingston County, Michigan. The announcement was made by AHA President Kazu Nagura, who said the long-awaited property closing clears the way for development to begin on the company's first automotive proving ground and test track facility in North America (Aisin has two proving grounds in Japan). Site preparation is expected to begin quickly, Nagura said.

The property, located in Handy Township, is currently being farmed, and sits about one mile southeast of the Fowlerville exit off the I-96 highway. The location was selected after two years of considering sites elsewhere in Michigan and in other states, said Nagura, who added that the Economic Development Council of Livingston County and the Michigan Economic Development Corporation were instrumental in the selection process and "helped us make what we believe was the right choice to locate here in Michigan."

Don Whitsitt, senior vice president of Plymouth, Michigan-based Aisin World Corp. of America, an Aisin Group company, said the central location of the new facility will enable Aisin to expand its vehicle evaluation and product development capability as a Tier One auto supplier, while offering increased testing capabilities to its customers.

"It is strategically important for Aisin to be geographically close to its customers -- manufacturers and suppliers, alike," said Whitsitt. "We chose Fowlerville for these reasons, as well as its proximity to both Michigan State University and the University of Michigan. We also believe it is important to be part of a stable, growing community like Fowlerville, which has embraced us to the extent that we already feel right at home. We look forward to becoming a valued member of the community and pledge to become a good corporate citizen," added Whitsitt.

Michigan Governor Jennifer Granholm called Aisin's choice to settle in Fowlerville "another great win" for Michigan's automotive R & D industry. "These are exactly the type of high-tech jobs we need to attract, in order to grow the advanced automotive manufacturing industry," said Granholm.

The facility will be known as the "Fowlerville Proving Ground," and will be research and development oriented (non-manufacturing), supporting tracks of various lengths and lane widths used to test a variety of Aisin products and applications including brake systems, transmissions, drive train, chassis, and body systems and components. Nagura said that automobile manufacturers may also utilize the facility for their own testing.

Approximately one third of the 750 acres will be developed leaving the majority of acreage unchanged to be maintained in harmony with the existing rural environment. A grassy, landscaped berm will surround the perimeter of the facility, providing a natural, pleasing appearance.

A ceremonial groundbreaking event is being planned for late October, and the facility is expected to be operational by the fall of 2005.

Aisin Holdings of America, Inc. is a wholly owned subsidiary of Aisin Seiki Co. Ltd. Headquartered in Kariya City, Aichi, Japan, Aisin Seiki is a Tier One, worldwide supplier of automotive products, such as brakes, transmissions, drive train, chassis, body and information-related systems and components. In North America, the Aisin Group has 26 manufacturing, R & D and sales centers including the Plymouth, Michigan-based Aisin World Corp. of America. Aisin Group currently employs 6,400 associates in North America.