Subaru of America, Inc. Announces New Chairman

CHERRY HILL, N.J., June 25 -- Subaru of America, Inc., the only car company that features Symmetrical All-Wheel Drive as standard equipment on every vehicle in its product line, today announced that Mr. Kunio Ishigami was appointed chairman, president and CEO effective today. Concurrent with this appointment, Mr. Ishigami was also promoted to senior vice president of Fuji Heavy Industries Ltd., (FHI), the parent company of the wholly-owned subsidiary.

Mr. Ishigami succeeds Mr. Takao Saito who served as the Chairman and CEO for the last five years and also served the company in various positions between 1987 and 1992. In total, Mr. Saito has served nearly 10 years with Subaru of America, Inc. In recognition of his accomplishments, FHI has appointed Mr. Saito to president of Subaru Kosan, another one of its subsidiary companies.

Mr. Kunio Ishigami has been with FHI for 35 years and has held a variety of management roles within the company including his most recent role of vice president of global parts operations for the automaker. Mr. Ishigami's industry and market knowledge is very broad and in fact, he was the general manager in charge of the U.S. market for FHI from 1996-1999.

  Mr. Ishigami has a law degree from Rikkyo University in Tokyo.

  About Subaru of America, Inc.

Subaru of America, Inc. is a wholly-owned subsidiary of Fuji Heavy Industries Ltd. of Japan. Headquartered in Cherry Hill, N.J., the company markets and distributes all-wheel drive Subaru vehicles, parts and accessories through a network of nearly 600 dealers across the United States. Subaru is the only car company that features Symmetrical All-Wheel Drive as standard equipment on every vehicle in its product line. For additional information visit http://www.subaru.com/.