Subaru of America, Inc. Announces New Executive Appointments in Marketing and Sales

    CHERRY HILL, N.J., Jan. 24 -- Subaru of America, Inc. (SOA)
today announced that Rick Crosson has been named Vice President, Marketing,
reporting to Fred D. Adcock, Executive Vice President, effective February 3,
2003.  Crosson comes to SOA from the Subaru of America Central Region office
in Aurora, CO, where he most recently served as Regional Vice President, and
will be based at SOA headquarters in Cherry Hill, N.J.
    "Rick has a broad range of experiences within the Subaru organization,
having served in sales, finance, and field operations," said T.K. Saito,
Chairman, President and CEO, Subaru of America, Inc.  "We are excited about
Rick's return to the Cherry Hill office, and his 18 years of experience at
both the corporate and the regional level will help us achieve our goal of
establishing Subaru as a premium brand."  Crosson replaces Mark Darling, who
has decided to leave the company to pursue other industry related business
opportunities.
    Jim Pernas has been promoted to Regional Vice President at the Central
Region, replacing Rick Crosson.  Jim was previously Director, Field and
Distributor Operations, a position he has held since 2000.  Pernas is a
15-year employee with Subaru of America, and has held a variety of sales and
marketing positions within the organization at both the corporate and regional
level.
    Tim Colbeck has been promoted to Regional Vice President, Penn Jersey
Region.  Colbeck was previously Director, e-Business for Subaru of America.
Colbeck is a 16-year veteran of Subaru, having also held positions in finance,
sales, and field operations with Subaru of America.  The Penn Jersey Region
office is located in Westampton, N.J.
    "Both Jim and Tim have many years of experience with Subaru, and have
proven their ability to work effectively with the dealer organization, and we
look forward to their contributions in their new roles," said Fred D. Adcock,
Executive Vice President, SOA.  In their new capacities, Pernas and Colbeck
will report to Bill Cyphers, Vice President, Sales.

    About Subaru of America, Inc.
    Subaru of America, Inc. is a wholly-owned subsidiary of Fuji Heavy
Industries Ltd. of Japan.  Subaru pioneered the concept of the passenger
car/sport-utility vehicle with the introduction of the Subaru Outback, the
"World's First Sport Utility Wagon."  Subaru has been the best-selling import
wagon in America for the past 18 years, based on the Polk Company retail
registration statistics as of 12/31/99.
    Headquartered near Philadelphia, the company markets and distributes
Subaru vehicles, parts and accessories through a network of 582 dealers across
the United States.  All Legacy and Outback models sold in the United States
are produced at the Subaru-Isuzu Automotive Inc. manufacturing plant near
Lafayette, Ind.  Over the past eight years, the company has achieved year-
over-year retail sales increases thanks to its popular line of car-based sport
utility vehicles, and is among the fastest growing brands in the automobile
industry.
    For more information visit the company's website at http://www.subaru.com.

     Contact:  Mike Whelan
               Subaru of America, Inc.
               (856) 488-3326
               mwhelan@subaru.com