Mitsubishi Motors' Exports From Thailand Set to Top 500, 000

Tokyo, Japan, Jan. 15, 2003 - (JCN Newswire) - Mitsubishi Motors
Corporation (MMC) today announced that cumulative exports from MMC
Sittipol (MSC)-MMC's production base in Thailand-are close to exceeding
500,000 units, a first for the Thai auto industry.

"We were the first to begin exports of Thai-built cars when MMC Sittipol
began exporting the Lancer Champ to Canada in 1988. As a result, early
this year, we will be the first automaker to reach cumulative exports of
500,000 units," said MMC President and CEO Rolf Eckrodt at a press
conference in Bangkok today.

"We concentrated production of our pickups in Thailand in 1996. Since
then, we have been exporting our Strada to some 140 countries," Eckrodt
added. "Our competitors began exporting too, proving that our faith in
Thailand was justified."

The achievement underscores a significant contribution by MMC to raising
the level of industrialization in Thailand, creating more jobs, and
increasing inflow of foreign currency since it began its Thai operations
in 1964.

Eckrodt also made a firm statement on MMC's unyielding commitment to
Thailand: MMC will invest about 21 billion baht (US$475 million) in
Thailand for the development and production of its next generation
pickup truck.

MSC is currently revamping its operations under a three-year turnaround
plan, which started last January. The plan calls for materials costs to
be cut by 22 percent over the three years and an extensive overhaul of
MSC's sales network. In line with MMC's recent spin-off of its truck and
bus business, MSC is also planning to spin off its truck and bus
operations in the future.

To accelerate MSC's turnaround, a new management team-Chief Operating
Officer David Howard, Chief Financial Officer Rudolf Steinle, and Chief
Information Officer Andreas Wedemeyer-will join this month. All three
bring with them a wealth of experience in the auto industry that will
help them steer MSC through today's intensely competitive global market.

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>