Mitsubishi Motors Credit of America Announces Appointment of Jeff Young as President and CEO

CYPRESS, Calif.--May 4, 2005--Mitsubishi Motors Credit of America (MMCA) announced that Jeff Young, senior vice president and chief financial officer of MMCA, has been named its president and CEO. He replaces Bob Costantino, who has chosen to pursue other interests in the financial community.

"We're extremely pleased to have Jeff Young step into this new role. His technical skills and leadership ability make him the ideal choice as president and CEO of MMCA. He is absolutely the right leader for the job," said Rich Gilligan, president and CEO of Mitsubishi Motors North America (MMNA). "We also appreciate Bob's contributions to the successful turnaround of MMCA over the last few years."

"I'm very excited about this new leadership opportunity," said Young. "MMCA is a great organization built on a solid foundation, with an experienced team in place. My goal will be to keep the momentum building."

Young joined MMCA in 2003 after serving as vice president of Capital Markets for Centex Home Equity, a sub-prime mortgage company, where he was responsible for funding, risk management and investor relations during his tenure. Additionally, Young held several finance leadership positions at Ford Motor Credit and served as a senior consultant for Deloitte Consulting and as a captain in the United States Air Force.

Young earned his Bachelor of Science degree at Purdue University, his Master of Science degree from the Air Force Institute of Technology, and his Master of Business Administration degree from The Wharton School at the University of Pennsylvania.

Established in 1991, Mitsubishi Motors Credit of America Inc. (MMCA) is Mitsubishi Motors' North American captive finance subsidiary with a $4 billion portfolio of consumer loans and leases and dealer loans.