Announcement of Newly Established Shareholder Special Benefit Plan

Yamaha Motor (the “Company”) Board of Directors has resolved on July 28, 2005 to establish a special benefit plan for shareholders.

The shareholder special benefit plan was established in gratitude to the continued support provided by shareholders; to make the Company stock more appealing to investors; and to encourage shareholders to invest in and hold the Company’s stock on a medium- or long-term basis.

(1) Applicable shareholders

Holders of Yamaha Motor shares totaling one unit (100 shares) or more who appear in either the list of shareholders or list of substantial shareholders as of December 31 every year.

(2) Details of benefits

Each applicable shareholder is entitled to select one of the following items.
- Yamaha Motor original merchandise
- Jubilo Iwata J-League soccer tickets for parent and child (designated game at Shizuoka stadium ECOPA)
- Jubilo Iwata original merchandise
- Famous local product
- Donation on the shareholder’s behalf to a philanthropic program
Note: Details of the benefits will be explained to each shareholder in a letter to be sent in March.

(3) Starting period

The shareholder special benefit plan will apply to holders of Yamaha Motor shares totaling one unit (100 shares) or more appear in either the list of shareholders or list of substantial shareholders as of December 31, 2005.

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