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Mitsubishi Motors Reports Best Sales Month of 2003

August Sales Mark Third Consecutive Monthly Increase

CYPRESS, Calif., Sept. 3 -- Mitsubishi Motors North America, Inc. (MMNA) today reported August 2003 sales of 27,380 units, marking the company's best sales month of 2003 and the third consecutive month of increasing sales. The August 2003 total, down 9.1 percent compared to record August sales in 2002 based on daily selling rate (DSR), was supported by a 61 percent increase in Mitsubishi Motors' expanding line of sport utility vehicles. The all-new Mitsubishi Endeavor crossover S.U.V. continued picking up pace, posting its best sales month ever.

"Sales improved each month this summer and are gathering momentum heading into fall," said Greg O'Neill, President and COO, Sales Division, MMNA. "Our dealers are excited about our new products and we are all optimistic about the rest of 2003."

Sales are growing as Mitsubishi Motors gears up for another round of new product launches. The Lancer Sportback, Lancer Ralliart and all-new 2004 Galant go on sale in October. Galant is the brand's volume leader and the company expects the mid-sized sedan's new look, increased dimensions and improved performance to compete more aggressively in the segment. This fall, existing Lancer models will also benefit from an enhanced look for 2004, as will the re-sculpted 2004 Diamante. 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.

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

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

   Sales*    17,275/127,002    24,728/188,299  -30.1%/-32.6%  -27.6%/-32.2%
   Vehicles** 10,105/62,116      6,500/49,912    55.5%/24.5%    61.2%/25.1%
   Sales     27,380/189,118    31,228/238,211  -12.3%/-20.6%   -9.1%/-20.2%
  US Assemb.
   Cars       11,610/82,781    15,326/122,123  -24.2%/-32.2%  -21.4%/-31.9%
   Cars        5,665/44,221      9,402/66,176  -39.7%/-33.2%  -37.5%/-32.9%
  US Assemb.
   SUV (3)     3,912/14,809             --/--          --/--          --/--
   Truck/SUVs  6,193/47,307      6,500/49,912    -4.7%/-5.2%    -1.2%/-4.8%
  US Assembled
   (1)        15,522/97,590    15,326/122,123    1.3%/-20.1%    5.0%/-19.7%
  Imported Vehicles
   (2)        11,858/91,528    15,902/116,088  -25.4%/-21.2%  -22.7%/-20.8%

              DSR - Daily Selling Rate
              Selling Days       MTD  YTD
              August 2003        27   205
              August 2002        28   206

   *   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