Mitsubishi Motors More Than Doubles Mainland China Unit Sales in CY03

Tokyo, Japan, Jan. 23, 2004 - (JCN Newswire) - Mitsubishi Motors
Corporation (MMC) today announced that it sold 145,235 vehicles in
mainland China during calendar year 2003, a 106 percent surge on 2002.
Leading the growth was the Sigma subcompact (Dingo in Japan), sales of
which soared 185 percent on year to 20,339 units. The Liebao (Pajero*)
sport utility vehicle (SUV) sold 29,536 units for an 89 percent jump in
sales on 2002. Other vehicles showing year-on-year growth include the
Freeca SUV -otherwise know as the company's Asia Car- up10 percent to
19,644 units, and the Delica van with 30,392 units, an increase of 3
percent.

On top of increasing sales of existing models, MMC also expanded its
product offerings in China in 2003 with two new models: the Lioncel
sedan and Pajero Sport which sold 33,647 and 5,804 units respectively.
The Mitsubishi-badged Pajero SUV exported from Japan since December 2002
sold 5,622 units for the year. The product offensive continues into 2004
with the introduction of the Outlander crossover SUV, which hit
showrooms this month, and the start of exports of the Grandis minivan
from Japan later in the year. Plans are also in place to put the Pajero
iO into local production in future.

MMC's alliance with DaimlerChrysler is starting to show positive results
in China too. On the sales and distribution side, MMC is building a
stronger presence through the nationwide alliance dealer network it runs
with DaimlerChrysler brands Jeep and Chrysler. As of December 2003, the
alliance partners had established 60 outlets throughout the country. On
the production side, Beijing Jeep Corporation (BJC) is responsible for
manufacturing the Pajero Sport and Outlander, both of which are sold
under the Mitsubishi marque.

*Also known as Montero