Mitsubishi Motors, Hyundai Motors To Keep Business Ties

TOKYO -March 19, 2003; Dow Jones reported that Mitsubishi Motors Corp.and Hyundai Motor Co. Wednesday signed an agreement to maintain their broad-based cooperation even after Mitsubishi sells its entire 1.7% stake in Hyundai, Mitsubishi said Wednesday.

The two affiliates of DaimlerChrysler AG will cooperate on a project-by- project basis, Mitsubishi said. Further details are not available.

Mitsubishi is scheduled to sell its stake in the South Korean carmaker to Hyundai affiliate Hyundai Mobis Co. by March 24.