Mitsubishi Motors Reports December Sales

Company Enters 2004 With Strong Products and 10-Year/100,000-Mile Warranty

CYPRESS, Calif., Jan. 5 -- Mitsubishi Motors North America, Inc. (MMNA) today reported December 2003 sales of 18,418 units. Total sales in December 2003 represent a nine percent increase over sales in November 2003 and the company closed the year with three consecutive month-to-month sales gains. Sales in December were 41.7 percent lower than in December 2002 with a total sales volume of 256,809 units for 2003, a 25.6 percent decline compared to the previous year.

"December's sales improvement of nine percent over November continues the fourth quarter 2003 trend of continuous sales improvement each month compared to the prior month," said Michael Tocci, senior vice president, sales, distribution and fleet, MMNA Sales Division. "Mitsubishi dealers are well positioned for 2004 as we prepare to launch our all-new flagship Galant this month."

The all-new Mitsubishi Galant, which recently arrived in dealer showrooms and is now on sale, will be supported by a national television advertising campaign starting January 19, 2004. The new Galant campaign will highlight product features and value, while showcasing the spirit and energy of the Mitsubishi Motors' brand.

The 2004 Galant ads also will feature the company's new 10-year/100,000- mile limited powertrain warranty, announced this morning at the North American International Auto Show in Detroit. The new warranty is now standard on all Mitsubishi Motors products sold in the United States, starting with the 2004 model year. This includes coverage for the high-performance Lancer Evolution, winner of Automobile Magazine's "Automobile of the Year" for 2004 and the Sport Compact Car Magazine's 2004 "Car of the Year." The warranty also will apply retroactively to any original owner who already purchased a 2004 model Mitsubishi vehicle.

Mitsubishi Motors North America, Inc., (MMNA) is responsible for all manufacturing, finance, sales, marketing, research and development operations of the Mitsubishi Motors Corporation in the United States, Canada, Mexico and Puerto Rico. Mitsubishi Motors sells coupes, convertibles, sedans and sport utility vehicles through a network of nearly 700 dealers throughout North America. For more information, contact the Mitsubishi Motors News Bureau at (888) 560-6672 or visit media.mitsubishicars.com.

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

                December '03   December '02     % Change     % DSR Change
                 Month/YTD      Month/YTD      Month/YTD      Month/YTD
  Passenger
   Car
   Sales*      8,472/161,523 19,945/259,662  -57.5%/-37.8%  -59.2%/-37.8%
  Sport
   Utility
   Vehicles**   9,946/95,286  11,621/85,449   -14.4%/11.5%   -17.7%/11.5%
  Total
   Vehicle
   Sales      18,418/256,809 31,566/345,111  -41.7%/-25.6%  -43.9%/-25.6%
  US Assemb.
   Cars        4,495/104,016 11,998/169,384  -62.5%/-38.6%  -64.0%/-38.6%
  Imported
   Cars         3,977/57,507   7,947/90,278  -50.0%/-36.3%  -51.9%/-36.3%
  US Assemb.
   Truck/
   SUV(3)       4,814/32,054      -/-             -/-            -/-
  Imported
   Truck/
   SUVs         5,132/63,232  11,621/85,449  -55.8%/-26.0%  -57.5%/-26.0%
  US
   Assembled
   Vehicles(1) 9,309/136,070 11,998/169,384  -22.4%/-19.7%  -25.4%/-19.7%
  Imported
   Vehicles(2) 9,109/120,739 19,568/175,727  -53.4%/-31.3%  -55.2%/-31.3%

     DSR - Daily Selling Rate
     Selling Days   MTD  YTD
     December 2003   26  307
     December 2002   25  307

  *   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, Lancer Sportback, Mirage, Diamante, Montero
      Sport, Montero and Outlander
  (3) Endeavor