Mitsubishi Motors Posts 10 Percent Sales Gain in June

Expanding Product Line Attracts New Customers in New Segments

CYPRESS, Calif., July 1 -- Mitsubishi Motors North America, Inc. (MMNA) today reported June 2003 sales of 22,641 units, marking a 10 percent increase over June sales of 22,388 units in 2002 based on daily selling rate. Sales of Mitsubishi's expanding line of S.U.V.s grew 55 percent in June, helping drive total vehicle sales to 138,857 units for the year.

"New products like Outlander and Endeavor are broadening the Mitsubishi brand appeal by attracting new customers in new segments," said Greg O'Neill, President and COO, Sales Division, MMNA. O'Neill also expressed optimism about the second half of 2003 because the company's long-term strategy of expanding the Mitsubishi product line and appealing to a wider share of the market remains on track. He emphasized that Mitsubishi products will continue reaching into new territory while the brand maintains the same youthful energy and attitude that has made it so distinct.

"We've added two new products so far this year, with two new models and several product updates due by the end of '03," said O'Neill. "We are enhancing style, performance and value, and providing customers at every stage of their lives with models that are distinctly Mitsubishi in style, attitude and spirit."

Mitsubishi Motors North America, Inc., (MMNA) is responsible for all of the North American operations of Mitsubishi Motors Corporation. As a single company consolidated on Jan. 1, 2003, MMNA and its subsidiaries manufacture, distribute, finance and market Mitsubishi brand coupes, convertibles, sedans and sport utility vehicles through a network of nearly 700 dealers in the United States, Canada, Mexico and the Caribbean. Mitsubishi Motors sold its first vehicle in the U.S. in 1981, and began building cars here in 1988 at its manufacturing facility in Normal, Ill. For more information, contact the Mitsubishi Motors News Bureau at (888) 560-6672.

     Sales Results, June 2003: Mitsubishi Motors North America, Inc.

               June '03       June '02          % Change     % DSR Change
               Month/YTD      Month/YTD        Month/YTD      Month/YTD
   Passenger
    Car
    Sales*   15,016/94,640  17,042/137,445   -11.9%/-31.1%   -4.5%/-30.7%
   Sport
    Utility
    Vehicles
    **        7,625/44,217    5,346/36,145     42.6%/22.3%    54.5%/23.1%
   Total
    Vehicle
    Sales   22,641/138,857  22,388/173,590     1.1%/-20.0%    9.6%/-19.5%
   US
    Assemb.
    Cars     10,594/60,662   11,123/90,471    -4.8%/-32.9%    3.2%/-32.5%
   Imported
    Cars      4,422/33,978    5,919/46,974   -25.3%/-27.7%  -19.1%/-27.2%
   US
    Assemb.
    Truck/SUVs
    (3)        3,492/7,875           --/--           --/--          --/--
   Imported
    Truck/
    SUVs      4,133/36,342    5,346/36,145     -22.7%/0.5%    -16.2%/1.2%
   US
    Assembled
    Vehicles
    (1)      14,086/68,537   11,123/90,471    26.6%/-24.2%   37.2%/-23.7%
   Imported
    Vehicles
    (2)       8,555/70,320   11,265/83,119   -24.1%/-15.4%  -17.7%/-14.8%

      DSR - Daily Selling Rate
      Selling Days           MTD    YTD
      June 2003               24    152
      June 2002               26    153

   *    Above totals include sales of US assembled Mitsubishi Motors
        vehicles
   **   Includes Montero Sport, Montero and Outlander
   (1)  Galant, Eclipse and Eclipse Spyder
   (2)  Lancer, Lancer Evolution, Mirage, Diamante, Montero Sport, Montero
        and Outlander
   (3)  Endeavor