Pierre Gagnon, newly appointed president and COO of Mitsubishi

    CYPRESS, Calif., June 13 Mitsubishi Motors America, Inc.
announced a series of senior leadership appointments for Mitsubishi Motors in
North America.
    
    The appointments, effective at the end of the month, involve executives at
Mitsubishi Motors America (MMA), the umbrella entity of the company's
subsidiaries in North America; Mitsubishi Motor Sales of America Inc. (MMSA);
and Mitsubishi Motor Manufacturing of America Inc. (MMMA).

    -- Hirao Iijima becomes Chairman and Chief Executive Officer of Mitsubishi
       Motors America, as well as MMSA and MMMA.  He replaces Hiroshi Yajima,
       who has returned to Tokyo to become a member of the Board of Directors
       of parent company Mitsubishi Motors Corporation (MMC) and Senior Vice
       President, Executive General Manager of Corporate Affairs and Strategy.
       Mr. Iijima is currently President and Chief Executive Officer of MMMA.
       He is a 35-year veteran of Mitsubishi Motors Corporation.

    -- Pierre Gagnon becomes President and COO of MMSA.  Mr. Gagnon also will
       continue serving as a member of the Boards of Directors for MMA, MMSA
       and MMMA.  He currently is Executive Vice President and Chief Operating
       Officer of MMSA.  Mr. Gagnon was appointed EVP and COO of MMSA in
       December 1997.  Under his leadership, MMSA returned to profitability,
       changed the advertising and marketing direction, gained unprecedented
       dealer support and achieved a 65 percent increase in sales over the
       past two years.  Prior to joining MMSA, Mr. Gagnon was head of consumer
       marketing for the Saturn Corporation and served 18 years at General
       Motors of Canada, Ltd.

    -- Rich Gilligan becomes President and COO of MMMA.  Mr. Gilligan also
       will continue serving as a member of the Boards of Directors for MMA,
       MMMA and MMSA.  He currently is Executive Vice President and Chief
       Operating Officer for MMMA.  Mr. Gilligan joined MMMA as EVP and COO in
       December 1998.  Under his leadership, MMMA returned to profitability,
       increased production volume by 40 percent and JD Power quality by
       23 percent, and improved First Time Capability to more than 90 percent.
       Hours Per Vehicle (measured by the Harbour Report) improved by more
       than 45 percent.  Prior to joining MMMA, Mr. Gilligan ran several
       plants for Ford Motor Company in his nearly 30-year career with Ford.

    "We have a proven leadership team in North America, and these promotions
recognize the significant achievements of our North American sales, marketing
and manufacturing operations," said MMC President Takashi Sonobe.  "This team
will also be a great asset to MMC as we accomplish our global management
turnaround objectives," said Sonobe, who was EVP and then President of MMSA
before serving as chairman of MMSA and MMMA in 1998-2000, prior to assuming
the presidency of MMC in November. "

    Mitsubishi Motors Corp., based in Tokyo, Japan, operates several companies
in North America under the Mitsubishi Motors America, Inc. umbrella.  These
include:

    Mitsubishi Motor Sales of America, Inc. (MMSA), based in Cypress, CA,
which is the sole distributor of Mitsubishi-badged cars and light trucks in
the American market through a network of more than 550 dealers in 50 states
and in Canada beginning in 2003;

    Mitsubishi Motor Credit of America (MMCA), a wholly-owned finance
subsidiary of MMSA.