Mitsubishi Motors Hires Michael Tocci as Senior Vice President for U.S. Sales

Industry Veteran Tapped to Oversee Sales, Distribution and Fleet

CYPRESS, Calif., Sept. 22 -- Finbarr O'Neill, Co-Chairman and CEO of Mitsubishi Motors North America, Inc. (MMNA) today announced the hiring of Michael Tocci as senior vice president, sales, distribution and fleet, MMNA sales division.

"Mike is an experienced industry veteran and a proven leader," said O'Neill. "With a broad range of skills, he understands every aspect of an automotive sales operation, and he's a terrific addition to our team."

Tocci will oversee U.S. sales operations, dealer development, distribution, logistics, fleet and remarketing, reporting to Greg O'Neill and Finbarr O'Neill.

"It's an honor to join the Mitsubishi Motors team," said Tocci. "With a strong dealer network, a talented group of employees and a growing product line, it's clear the brand has enormous potential."

Tocci has 27 years' industry experience, having worked for Ford Motor Company and most recently at Hyundai Motor America. From 1991 through 2003, Tocci served as general manager of Hyundai's eastern region, overseeing a 13-state area that generated sales volume of more than 120,000 units in 2002 at 186 dealer locations. Before that, Tocci worked in a variety of sales, marketing, parts and operations positions at Hyundai's Southern Region in Atlanta and at company headquarters in Fountain Valley, Calif.

A graduate of Fitchburg State College in Fitchburg, Mass. with a bachelor of science degree, Tocci also earned a masters of business administration from Northeastern University in Boston.

Tocci's appointment is effective immediately.

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.