Subaru of America, Inc. Names New Chairman

- Ishigami retires after leading company to three consecutive sales records -

CHERRY HILL, N.J., March 1 -- Subaru of America, Inc. today announced that Mr. Tomohiko Ikeda has been appointed chairman, president and chief executive officer effective April 1. Mr. Ikeda succeeds Mr. Kunio Ishigami who served as the chairman, president and chief executive officer since June 2004.

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Mr. Ishigami led the company to three consecutive record sales years and also achieved the corporate milestone of 200,000 unit annual sales in 2006. Mr. Ishigami has been with Fuji Heavy Industries Ltd., the parent company of Subaru, for 38 years and has held a variety of management roles. Mr. Ishigami will be returning to Japan as Advisor to FHI.

Mr. Tomohiko Ikeda has been with FHI for 30 years. Before being appointed to his new role at Subaru of America, he most recently served as corporate vice president for FHI. Prior to this role, Mr. Ikeda served as vice president for Subaru of America, Inc. at its headquarters in Cherry Hill, N.J., from 1998-2002, where he was responsible for business planning, the management of capital assets, as well as the sales and marketing coordination with FHI.

Prior to this position, Mr. Ikeda served in the Subaru Overseas Division of FHI from 1992 -1997. He was the manager for North America sales and marketing, and prior to that he served as the manager of Asia, Oceania and Latin America sales and marketing for the Overseas Division.

Mr. Ikeda also held a number of positions in the training, finance and accounting areas of the company. He began his career with FHI in 1977 as a staff member in the personnel section on the FHI Utsunomiya manufacturing plant. Mr. Ikeda received a bachelor's degree in political science from Waseda University in Japan.

For additional information about Subaru of America, Inc. and Subaru vehicles, visit our media website at www.media.subaru.com.

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 Subaru Symmetrical All-Wheel Drive vehicles, parts and accessories through a network of nearly 600 dealers across the United States. Subaru makes the best-selling All-Wheel Drive car sold in America based on R.L. Polk & Co. new vehicle retail registration statistics calendar year-end 2004. For additional information visit www.subaru.com.

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