[Mark Fields, President, Mazda Motor Corporation]

Good morning ladies and gentlemen and welcome.

2002 is an energized and exciting year in which you will witness the transformation of Mazda. This year's Geneva show is a milestone for us both globally and here in Europe.

As you will soon see around you, we are launching a whole new generation of Mazda cars.

They are exciting new products that are getting us back to our roots. In our souls, Mazda is a fun-to-drive, sporty brand full of Zoom-Zoom - that love of motion our friends here just displayed.

Zoom-Zoom is the same spirit we built into the great Mazda cars - the Cosmo Sports with the first rotary engine, the RX-7 and the MX-5.

The inspiration from these cars is fuelling our new generation cars today. They're exciting to look at, exciting to sit in, and above all really exciting to drive.

So, when you leave the show, take one thought with you.... MAZDA IS BACK!

Now, I'm not going to bore you with a lot of numbers. I'm sure you'll hear plenty over the next two days.

All you need to know is that our Millennium Plan - our plan designed to get us back to sustained profitability - is delivering results. Mazda is profitable now and will be profitable at the end of our fiscal year.

We're turning our business round with a product-led strategy - and at the heart of our newly developed products there's a whole range of outstanding new powertrains.

As you know, we have a lighter, smaller, high-performing and all-new rotary engine - the RENESIS - which is unique to Mazda.

We also have a new world-class all-aluminum four-cylinder engine for our volume cars in 1.8, 2.0-liter and 2.3 form. Known as "MZR," the new engine family delivers superb performance through improved torque and increased output but also achieves excellent fuel economy, clean emissions and low vibration and noise levels. They're also produced at lower cost than cast iron engines and use the Cosworth casting process - production started last month.

And - of great importance here in Europe - we've developed a highly competitive second - generation common rail diesel - which makes its debut in our new MPV and will gradually be introduced across our range.

Speaking of our MPV, which is at the front of the stand, this is much more than a facelift. In addition to numerous changes in its appearance, to the interior and to the chassis, there are two engine options.

There's the new common rail direct injection diesel, which is rated at 136 hp and delivers a mix of sporty performance, impressive torque and outstanding fuel economy. And there's a petrol engine that delivers 141 hp - so there's improved power, but there's also better consumption.

But the MPV is just one element of our range of innovative new products. Most are all - new, including base architecture that make them seem bigger on the inside than on the outside. We are also creating new chassis whose driving characteristics will flat-out amaze you, because at Mazda, we love to drive!

We like to say there's a little bit of MX-5 in all Mazdas. It certainly true of our new cars. They're more fun to drive, and are more fun to own because they are simply more useful and functional.

For example, when we design a rear suspension system it's as important to us that the design yields tremendous space utilization, as it is that the car handles brilliantly.

And the first all-new model leading the way is the embodiment of our brand DNA - its got real Zoom-Zoom. Our new mid-size sedan - the Mazda6 is designed with class-leading driving dynamics, design and style. It builds on Mazda's technical strengths in the design and development of compact but powerful engines, embodied in vehicles such as the MX-5 and RX-7.

Ladies and gentlemen this is the global debut of the Mazda6 sport wagon. Around the stand you will see the sedan and the 5-door hatchback that complete the all-new family.

But Mazda's comeback doesn't stop there. This next vehicle - a concept - shows the flexibility of our DNA and how we are translating it into different market segments - in this case the small car. We call it the Mazda MX Sport Runabout and here to tell you about it is the man who is leading out European recovery, newly-appointed President of Mazda Motor Europe - Mr. Steve Odell.

Mazda MX Sport Runabout is a new concept model, which shows Mazda's brand DNA and design philosophy in small car form. It demonstrates the standards Mazda aims to achieve in small car lifestyle packaging and driving dynamics.

This vehicle captures customers' needs and wants through innovative packaging and bold new styling. It combines excellent functional space, superb driving dynamics and above all a highest-quality "lifestyle" interior environment.

There's no mistaking it as a little brother to the Mazda6. You can see it right through from the family face up front to the distinctive design at the rear. Every element buzzes with Mazda's Zoom-Zoom spirit and personality.

With the interior, we have given the occupants an atmosphere where they can literally 'feel at home'. Using architectural design principles, we have emphasized the efficient use of space, at the same time expressing comfort and an inviting atmosphere. This is achieved through a careful balance of form, materials, textures and colors.

The interior has all the expected and required functions of a modern family car - however, they have been influenced by the things customers use everyday at home, such as the use of modern audio units on the center panel.

And naturally it inherits all the functional passenger and cargo space expected from a small Mazda.

But it's not just a new body - there's a great chassis for a perfect ride and handling mix and a superb new engine too - a 1.5-liter DOHC S-VT unit with a four-speed automatic box.

Here in Europe of course, our new small car will be a landmark - the first European-produced Mazda in our history. This will dramatically transform our business structure, as well as realizing the promise of synergy benefits with our partners Ford, through their world-class production facility in Valencia, Spain.

MX Sport Runabout is a lifestyle statement in small car form and a vision of the future for Mazda. But it's not all that's coming.

Last year we showed you the design/engineering feasibility model of the Mazda RX-8 and ignited excitement around globe for this, Mazda's brand icon. Well, recently we secured the RX name as key part of our future as well as our heritage, by approving the RX-8 program for full production.

As a four-door sports car, Mazda RX-8 is an entirely new market proposition. It is powered by the "RENESIS," the more compact and higher-powered rotary engine, and uses a front-midship layout and freestyle door system.

While having genuine sports car styling, the Mazda RX-8 will offer an interior package spacious enough for four adults, as well as exceptional driving pleasure. This is the production styling and you will see this car on the road in 2003.

Thank you for joining us today ladies and gentlemen and please join us for a closer look at the cars.