Exhibit 99


                                                             September 20, 2002




                        Mazda Issue of Convertible Bonds


Today,  Mazda Motor Corporation is announcing a Yen 60 billion (US$492 million,
503 million euro)  offering of  Convertible  Bonds.  Ford Motor  Company,  which
presently  owns 33.39% of Mazda,  intends to purchase  Yen 20  billion  (US$164
million, 168 million euro) of the bonds; the balance will be sold to the public.

Proceeds of the issue will be used to fund  Mazda's  debt  repayments  occurring
over the next two years.  Together with the Yen 38 billion (US$312 million, 319
million euro) syndicated bank borrowing completed in July, this convertible bond
offering  will give Mazda a  substantial  amount of  operating  flexibility  and
liquidity  protection.  A key element of Mazda's  strategy  is to maintain  high
levels of  liquidity  and to pre-fund  maturing  debt when there are  attractive
opportunities  to do so. This  offering  also helps Mazda  maintain  its funding
diversification and achieve term extension on its debt portfolio.

Mr. Booth, Mazda's President,  commented, "I think this is great news for Mazda.
These  bonds will be offered to retail and  institutional  investors  across the
country.  I know they are excited about our new products,  and this gives them a
chance to participate in the success of our  Millennium  Plan. In addition,  the
offering  provides  further evidence of the depth and strength of the Ford/Mazda
relationship and substantially  enhances our balance sheet and overall financial
condition."