Renault-Nissan and Russian Technologies Create Joint Venture to Finalize Strategic Partnership with AVTOVAZ

   Renault-Nissan and Russian Technologies Create Joint Venture to Finalize
                      Strategic Partnership with AVTOVAZ

  PR Newswire

  MOSCOW, December 12, 2012

MOSCOW, December 12, 2012 /PRNewswire/ --

  *Renault-Nissan and Russian Technologies create joint venture to accelerate
    product launches and technology transfer to AVTOVAZ, Russia's largest
  *Renault-Nissan will get a majority stake in the joint venture, called
    Alliance Rostec Auto BV, which will control AVTOVAZ, leader of the Russian
    auto market.
  *This deal promotes Renault, Nissan and LADA's improved synergy and product
    development in the fast-growing Russian market.

The Renault-Nissan Alliance and Russian Technologies State Corporation have
created a joint venture which will hold their entire equity interests in
AVTOVAZ and serve as a stable, long-term controlling shareholder for Russia's
largest car company and the owner of the LADA brand.

Renault-Nissan Chairman and CEO Carlos Ghosn announced the creation of
Alliance Rostec Auto BV today at a ceremony in Moscow with Sergey Chemezov,
General Director of Russian Technologies and Chairman of the Board of AVTOVAZ,
and Igor Komarov, President of AVTOVAZ.

"Today's historic agreement is a win-win-win for all companies: Renault,
Nissan and AVTOVAZ. It is a significant new chapter in an already solid
partnership," Ghosn said. "The joint venture will help accelerate our Russian
market offensive. It will support the competitiveness of AVTOVAZ, Russia's
auto industry leader."

According to the terms of the deal, Renault-Nissan will invest RUB23 billion
(US$ 742 million). The investment will give Renault-Nissan 67.13% of the joint
venture by mid-2014. The joint venture will then hold 74.5% of AVTOVAZ.

Renault, which purchased 25% of AVTOVAZ in 2008 and then helped AVTOVAZ in its
successful turnaround, will invest about RUB11.3 billion (US$366 million) in
the joint venture and plans to own 50.1% in the joint venture by June 2014.
Nissan which did not previously own a stake in AVTOVAZ, will invest RUB11.7
billion (US$376 million) and plans to own 17.03% in the joint venture by the
same period.

Over the same period, Russian Technologies will hold 32.87% of the joint

As part of the deal, Russian Technologies is restructuring its outstanding
loans with AVTOVAZ with RUB8 billion (US$258 million) proceeds from the
anticipated sale of AVTOVAZ's non-core assets being used to repay part of
Russian Technologies loans.

For the full release, go to:

Video news release and b-roll also available on the site.

Contact: Media contact: Mia Nielsen, Renault-Nissan Alliance,
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