Mitsubishi Motors Reports July Sales: Down 23%

Company Records Second-Best July Year-To-Date Sales in History as Exciting New
                 Products Start Rolling Into Dealer Showrooms

    CYPRESS, Calif., Aug. 1 Mitsubishi Motor Sales of America,
Inc. (MMSA) today reported July sales of 22,822 units, driving the auto maker
to its second-best July year-to-date total ever with sales of 178,052 units
during the first seven months of the year.
    "The opportunity for growth in the second half of the year is tremendous
because we have exciting new products to offer," said President and COO Pierre
Gagnon.  "With the all-new Mitsubishi Lancer arriving in showrooms this month,
we're confident in the outlook for the remainder of 2001."
    The stylish new Lancer compact sedan begins shipping to dealerships this
month, followed by restyled versions of the Galant and Diamante.
    Some figures of note for MMSA's July 2001 sales:
    -- July 2001 sales of 22,822 vehicles, down 23.9 percent from last year's
       record July sales of 30,005 vehicles
    -- 2001 year-to-date sales of 178,052 vehicles; 4.6 percent behind last
       year's record pace of 186,569 vehicles
    -- Montero had its best-ever month, setting a new sales record at 3,569
       units sold, up 14.3 percent over July 2000, and up 20.4 percent
       year-to-date
    -- Eclipse Spyder had its best-ever July with 1,177 units sold, up 17.6
       percent over July 2000

    Mitsubishi Motor Sales of America, Inc. was established in 1982 by
Mitsubishi Motors Corporation, Tokyo, and markets a full line of vehicles,
including coupes, convertibles, sedans and sport utility vehicles.  Its
website can be accessed at http://www.mitsubishicars.com.

      Sales Results, July 2001: Mitsubishi Motor Sales of America, Inc.

                 July '01          July '00        % Change    % DSR Change
                 Month/YTD         Month/YTD       Month/YTD      Month/YTD
    Passenger Car
      Sales*     15,255/132,331  21,319/135,884  -28.4%/-2.6%  -28.4%/-2.6%
    Sport Utility
      Vehicles**   7,567/45,721    8,686/50,685  -12.9%/-9.8%  -12.9%/-9.8%
    Total Vehicle
      Sales      22,822/178,052  30,005/186,569  -23.9%/-4.6%  -23.9%/-4.6%
    US Assembled
      Cars:       12,469/98,147   15,835/98,157   -21.3%/0.0%   -21.3%/0.0%
    Imported
      Cars:        2,786/34,184    5,484/37,727  -49.2%/-9.4%  -49.2%/-9.4%
    Imported
      Truck/SUVs:  7,567/45,721    8,686/50,685  -12.9%/-9.8%  -12.9%/-9.8%
    US Assembled
      Vehicles(1):                   12,469/98,147   15,835/98,157   -21.3%/0.0%
-21.3%/0.0%
    Imported
      Vehicles(2):                   10,353/79,905   14,170/88,412  -26.9%/-9.6%
-26.9%/-9.6%

    DSR - Daily Selling Rate
    Selling Days      MTD  YTD
    July 2001          25  179
    July 2000          25  179

    *  Above totals include sales of US assembled Mitsubishi Motors vehicles
    ** Includes Montero Sport and Montero
    (1)Galant, Eclipse and Eclipse Spyder
    (2)Mirage, Diamante, 3000GT, Montero Sport and Montero