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Formula 1U.K.January 11, 2005

Honda and BAT New Joint Venture Company Acquires B·A·R

TOKYO, Japan, January 11, 2005 - Honda Motor Co., Ltd. announced today that it has established a new joint venture company, BARH Limited, with British American Tobacco (BAT).

With this development, investment for the Honda 45% capital investment ratio (BAT 55%) announced last year has been completed. This newly established company has acquired the B·A·R F1 team.

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