Mitsubishi Motors Reports July Sales - Down 31.5%

CYPRESS, Calif., August 1 -- Mitsubishi Motors North America, Inc. (MMNA) today reported July 2003 sales of 22,881 units, marking a 31.5 percent decline compared to last July's best month ever in the history of the company. Sales of Mitsubishi's expanding line of sports utility vehicles, led by the all-new Endeavor crossover SUV, grew 7.3 percent in July, helping drive total vehicle sales of 161,738 for the year.

Mitsubishi Motors is jumping into new territory this fall with the addition of Lancer Sportback, and later this year, the company adds the all-new 2004 Galant, a core model with a new look and attitude to compete in the tremendous mid-sized sedan segment. The redesigned Lancer, Mitsubishi's popular compact sedan, the new Lancer Ralliart, and the re-sculpted Diamante will also hit the streets this fall. By the year's end, Mitsubishi Motors will have 11 distinct models -- the most ever for the company in the U.S. market -- addressing a broad range of consumer needs.

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, July 2003: Mitsubishi Motors North America, Inc.

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

  Passenger
   Car
   Sales*    15,087/109,727  26,126/163,571   -42.3%/-32.9%  -44.5%/-32.9%
  Sport
   Utility
   Vehicles**  7,794/52,011    7,267/43,412      7.3%/19.8%     3.1%/19.8%
  Total
   Vehicle
   Sales     22,881/161,738  33,393/206,983   -31.5%/-21.9%  -34.1%/-21.9%
  US Assemb.
   Cars       10,509/71,171  16,326/106,797   -35.6%/-33.4%  -38.1%/-33.4%
  Imported
   Cars        4,578/38,556    9,800/56,774   -53.3%/-32.1%  -55.1%/-32.1%
  US Assemb.
   Truck/SUV
   (3)         3,022/10,897        -/-             -/-            -/-
  Imported
   Truck/SUVs  4,772/41,114    7,267/43,412    -34.3%/-5.3%   -36.9%/-5.3%
  US Assembled
   Vehicles
   (1)        13,531/82,068  16,326/106,797   -17.1%/-23.2%  -20.3%/-23.2%
  Imported
   Vehicles
   (2)         9,350/79,670  17,067/100,186   -45.2%/-20.5%  -47.3%/-20.5%

  DSR - Daily Selling Rate
  Selling Days        MTD          YTD
  July 2003           26           178
  July 2002           25           178

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