Subaru Signs Lance Armstrong As New Advertising Spokesperson

               - New Campaign Features World Cycling Champion -

    CHERRY HILL, N.J., Feb. 3 -- Subaru of America, Inc. (SOA),
the only automobile manufacturer to feature a complete line of all-wheel drive
vehicles, today announced that it has signed Lance Armstrong, four time winner
of the Tour de France, to be the spokesperson in a new advertising campaign
being developed by Temerlin McClain, a unit of the Interpublic Group.  The
theme of the new advertising campaign will be "Subaru. Driven By What's
Inside."
    "Lance Armstrong is a perfect fit for Subaru," said Fred Adcock, Executive
Vice President, Subaru of America.  "He's a rugged individualist.  He's
authentic and passionate about what he believes.  He's engineered like no
other to perform like no other.  And, like Subaru, Lance is driven by an
indomitable spirit.  He is driven by what's inside."
    The brand's new theme line, "Subaru. Driven By What's Inside," replaces
"The Beauty Of All-Wheel Drive" tagline introduced in 1995.  "`Driven By
What's Inside' makes a powerful statement about our brand," said Rick Crosson,
Vice President of Marketing, Subaru of America.  "It says we're passionate
about the engineering inside every one of our vehicles.  It says we build
every Subaru to meet the needs of the people inside them.  And it says we are
driven by conviction, not by convention."
    Subaru has a long standing affiliation with cycling spanning a twelve year
period, and the connection with Lance Armstrong goes back to some of his
earliest races as a member of a Subaru sponsored cycling team in the early
1990s.  "I am pleased and excited to be the new Subaru spokesperson because of
their shared passion for sport, for excellence and for purpose," said Lance
Armstrong.
    "What really separates Subaru from every other car company is the
engineering inside: the 100% commitment to All-Wheel Drive technology and the
totally unique horizontally-opposed engine configuration that provides for
superior handling," said Dennis McClain, Chief Executive Officer, Temerlin
McClain.  "Lance Armstrong is the ultimate personification of performance that
is inner driven and the passion to be the best, those same qualities that
define Subaru."
    The new campaign will launch nationally in April with Armstrong appearing
in both television commercials and print advertising for the Outback,
Forester, Baja and WRX.  "Lance Armstrong is a hero that everyone can identify
with," said Adcock.  "He is an inspiration to millions of Americans."

    About Subaru of America, Inc.
    Subaru of America, Inc. is a wholly-owned subsidiary of Fuji Heavy
Industries Ltd. of Japan.  Subaru is the only manufacturer to feature all-
wheel drive as standard equipment on every vehicle.  Subaru has been the best-
selling import wagon in America for the past 20 years, based on the Polk
Company retail registration statistics as of 12/31/01.
    Headquartered near Philadelphia, the company markets and distributes
Subaru vehicles, parts and accessories through a network of nearly 600 dealers
across the United States.  Over the past nine years, the company has achieved
retail sales increases thanks to its popular line of passenger car-based
sport-utility vehicles and driving performance vehicles.

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