Mitsubishi Motors Spins Off Truck & Bus Business

Tokyo, Japan, Jan. 06, 2003 - (JCN Newswire) - Mitsubishi Motors
Corporation (MMC) today spun off its truck and bus operations to fully
concentrate its resources on passenger car operations.

Commenting on the spin-off, Rolf Eckrodt, MMC president and CEO said:
"We will now focus our management resources solely on our passenger car
turnaround. Our improved financial situation also gives us a solid base
to drive future growth."

Today's announcement puts MMC in a strong position to further stabilize
the financial standing of its passenger car division by substantially
reducing interest-bearing debts. This, coupled with increased
flexibility to enhance investments and the heightened alliance with DC,
will contribute to strengthen competitiveness and ensure a solid footing
for MMC's passenger car operations in the long term.

The spin-off also puts the new company, Mitsubishi Fuso Truck and Bus
Corporation, in a strong position. "Direct investment from
DaimlerChrysler in Mitsubishi Fuso will enhance ties allowing further
economies of scale," Eckrodt added. Mitsubishi Fuso will also gain more
direct access to DaimlerChrysler's wealth of knowledge and technology.



About Mitsubishi Motors Corporation

Mitsubishi Motors Corporation was established in 1970 and is
one of the few automobile companies in the world that produces a full
line of automotive products ranging from 660-cc mini cars and passenger
cars to commercial vehicles and heavy-duty trucks and buses. The company
also operates consumer financing services and provides this to its
customer base. Automobile operations accounted for 98% of fiscal 2000
revenues and financing business, 2%. The company has one hundred and
eighty nine consolidated subsidiaries worldwide. Overseas sales
accounted for 56.8% of fiscal 2000 revenues. Mitsubishi Heavy
Industries, Ltd. is the major shareholder with 25.62% of issued
stock.For further information, please visit the Mitsubishi Motors
Corporation home page at: www.mitsubishi-motors.co.jp
<http://www.mitsubishi-motors.co.jp>