Singapore, March 26, 2001 - Honda Motor Co., Ltd., will begin research and development in April 2001 for the commercialization of a new Intelligent Community Vehicle System (ICVS) transportation network in the Republic of Singapore.

Honda ICVS Singapore Pte. Ltd., a company established by Honda in February 2001, will lead the ICVS research and development activities. The new company will trial the ICVS concept by establishing "ports" (exclusive parking lots) for ICVS vehicles at major destinations in Singapore. Honda ICVS Singapore also will take responsibility for marketing the system to people most likely to make frequent trips between the designated ports and will study the feasibility of a fully commercialized ICVS system in the future.

Singapore is a likely candidate for an ICVS system because of its unique characteristics - small size and limited land - which make common ownership and use of vehicles an extremely appropriate concept. Further, the Singapore government is targeting economic development through advanced technologies, such as the sophisticated control technologies required for an ICVS system - resulting in the understanding and cooperation of the government.

Honda's newly proposed ICVS system maintains the basic concept of personal transportation through a fleet of environmentally friendly vehicles such as electric automobiles, hybrid automobiles or battery assisted bicycles that are shared by local residents who become ICVS members.

By combining the ICVS system with public transportation and member-owned vehicles, the goal is to reduce the environmental impact of vehicles and reduce traffic problems, including limited parking and road congestion.