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News Release：Pioneer to Make Full-fledged Entry into Indian Markets

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It is subject to change without prior notice.

Pioneer
November 20, 2008
Pioneer Corporation

Pioneer to Make Full-fledged Entry into Indian MarketsEstablishing a Sales Subsidiary - Pioneer India Electronics

November 20, 2008, Tokyo, Japan - Pioneer Corporation announced today that the company has established a sales subsidiary - Pioneer India Electronics Private Ltd. - in India, and decided to launch into the Indian market in earnest. This market is enjoying strong economic growth and expected to thrive into a huge consumer market.

Pioneer established its Indian representative office at the end of year 2005 and began market research and preparations to establish its local subsidiary. The company has opened a sales subsidiary in the suburbs of Delhi, the city of Gurgaon, and will proactively promote the marketing, sales and after-sales service in the car electronics business in the promising Indian market.

In the home electronics business as well, Pioneer will continue market research to start sales activities according to market demand. By promoting these two major businesses, Pioneer aims to increase the awareness of the Pioneer brand and expand businesses in this growing market.

< Outline of the new company >

Company name Pioneer India Electronics Private Ltd.
Address 216, Second Floor, Time Tower, M.G. Road, Sector 28, Gurgaon 122001, Haryana, India
Capital 160 million rupees
99% capitalized by Pioneer Electronics Asiacentre Pte. Ltd.
1% capitalized by Pioneer Electronics (Singapore) Pte. Ltd.
Managing Director Takashi Yoshida
No. of employees Approximately 20
Date of establishment October 17, 2008
Start of operation January 2009 (scheduled)

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