Mitsubishi Motors Reports January Sales

                Company Gears Up for New Product Blitz in 2003

    CYPRESS, Calif., Feb. 3 -- Mitsubishi Motors North America
(MMNA) today reported January 2003 sales of 23,727 units, marking a 9.0
percent decline from sales of 26,069 units in January 2002.  Coming off a
fourth consecutive record year in 2002, Mitsubishi Motors is expecting strong
sales in 2003 as it executes one of the strongest series of new product
launches in company history.
    "Despite continued concern about the economy, we're confident that our
brand will continue growing and capturing market share in 2003," said Greg
O'Neill, President and COO, Sales Division, MMNA.  "We're launching four new
products over the next 12 months and we're entering new segments with exciting
growth potential."
    The first Mitsubishi Lancer Evolution goes on sale February 23rd and
O'Neill expects the heavily anticipated high-performance compact sedan will
drive traffic to dealer showrooms and generate increased enthusiasm around the
Mitsubishi brand.
    "Lancer Evolution is already creating quite a buzz," explained O'Neill.
"The phones are ringing off the hook as our dealers gear up for its arrival."
    Following Evolution, the Mitsubishi Endeavor midsize crossover S.U.V. goes
on sale in March.  Later this year Mitsubishi will launch a sporty hatchback
version of Lancer called Lancer Sportback as well as a completely new version
of the Mitsubishi Galant mid-sized sedan.
    After beating expectations in 2002, Mitsubishi's popular Lancer compact
sedan will receive an updated design for the 2004 model year.  Lancer's new
look is expected to debut this month at the 2003 Chicago International Auto
Show.
    Mitsubishi Motors North America, Inc., (MMNA) is responsible for all of
the North American operations of Mitsubishi Motors Corporation.  As a single
company consolidated on Jan. 1, 2003, MMNA and its subsidiaries manufacture,
distribute, finance and market Mitsubishi brand coupes, convertibles, sedans
and sport utility vehicles through a network of nearly 700 dealers in the
United States, Canada, Mexico and the Caribbean.  Mitsubishi Motors sold its
first vehicle in the U.S. in 1981, and began building cars here in 1988 at its
manufacturing facility in Normal, Ill.  For more information, contact the
Mitsubishi Motors News Bureau at (888) 560-6672.

      Sales Results, January 2003: Mitsubishi Motors North America, Inc.

                 January '03     January '02       % Change     % DSR Change
                  Month/YTD       Month/YTD       Month/YTD      Month/YTD

    Passenger
     Car
     Sales*      16,219/16,219  20,515/20,515   -20.9%/-20.9%  -20.9%/-20.9%
    Sport
     Utility
     Vehicles**    7,508/7,508    5,554/5,554     35.2%/35.2%    35.2%/35.2%
    Total
     Vehicle
     Sales       23,727/23,727  26,069/26,069     -9.0%/-9.0%    -9.0%/-9.0%
    US
     Assembled
     Cars:       11,311/11,311  13,222/13,222   -14.5%/-14.5%  -14.5%/-14.5%
    Imported
     Cars:         4,908/4,908    7,293/7,293   -32.7%/-32.7%  -32.7%/-32.7%
    Imported
     Truck/SUVs:   7,508/7,508    5,554/5,554     35.2%/35.2%    35.2%/35.2%
    US
     Assembled
     Vehicles
     (1):        11,311/11,311  13,222/13,222   -14.5%/-14.5%  -14.5%/-14.5%
    Imported
     Vehicles
     (2):        12,416/12,416  12,847/12,847     -3.4%/-3.4%    -3.4%/-3.4%


    DSR - Daily Selling Rate
    Selling Days     MTD   YTD
    January 2003     25     25
    January 2002     25     25


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