Senior Management Changes Announced at Mitsubishi Motors in the UK

WATERMOOR, UNITED KINGDOM – March 9, 2009: Mitsubishi Motors in the UK (The Colt Car Company, CCC) has today made two announcements in relation to its management team, taking effect from April 1st 2009.

Jim Tyrrell to become Vice President
After nine successful years as Managing Director, Jim Tyrrell has decided to step down from the position to take on the new part-time role of Vice President. His role will be to ensure that there is a smooth transition to the new management team and then, on an ongoing basis, to advise the board on strategic and operational issues.

Jim Tyrrell said: ‘I have loved every minute of my time as MD but I feel that now is a good time to enter a new phase of my life. I am looking forward to my part-time position with the Company and to developing a range of outside non-executive interests.’

Zenta Ishikawa, Vice Chairman of CCC said: ‘We would like to thank Jim for his excellent leadership of the Colt Car Company. He has presided over the Company during a very successful time. We are delighted that we will not be losing his experience and look forward to working with him in his new advisory role.’

Lance Bradley to be appointed as Managing Director
Jim Tyrrell will be succeeded by Lance Bradley. Lance has also been at the Colt Car Company for nine years, initially as General Manager of Sales, then Sales Director and most recently as Sales and Marketing Director. He previously held a number of roles at Ford Motor Company.

Jim Tyrrell said: ‘I am delighted to be handing over to Lance, he has provided fantastic support to me over the past nine years and he thoroughly deserves his promotion to Managing Director.’

Lance commented: ‘I’m very excited to be taking over as Managing Director. It’s a time of unprecedented change in the motor industry – not only the economic pressures, but environmental pressures too. With the financial strength of the Mitsubishi Corporation supporting us, I am looking forward to building on the foundation we have established over the past decade and leading the Company into the next phase of its history.’