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Subaru Announces Executive Appointments

24 June 1999

New Chairman/CEO and Vice President of Marketing

    CHERRY HILL, N.J. -- Subaru of America, Inc. (SOA) announced the following 
personnel changes this week: Takao Saito named SOA chairman and chief 
executive officer, and H. William Cyphers named SOA vice president of marketing.

    Takao Saito assumes the position of SOA chairman and chief executive
officer succeeding Yasuo Fujiki.  Fujiki, who joined SOA in June 1995 and
helped to oversee the company's strong business performance, is returning to
Japan to become president of another affiliated business unit of Fuji Heavy
Industries, Ltd. (FHI), the parent company of Subaru.

    Saito, who has been with FHI for 32 years, has most recently been serving
as the chairman and chief executive officer of Subaru Canada, Inc.  He begins
his new assignment immediately.  Saito previously worked at SOA as vice
president of Fuji Heavy USA (FUSA) in 1987 and then as president of FUSA the
following year.  In 1990, he was named vice president of SOA Sales and
Marketing.  Over the years, he has held a variety of positions with FHI in the
Finance, Sales and Overseas departments.  Saito is a graduate of the Waseda
University in Japan.

    H. William "Bill" Cyphers, as the new vice president of marketing, will be
responsible for all of the company's national vehicle marketing efforts
including advertising, promotions and sponsorships, vehicle launch activities
and brand identity, market research, relationship marketing and the owner
loyalty program.  He assumes the head marketing position replacing Timothy J.
Mahoney, who left the company in May to join Porsche Cars of North America.

    Cyphers has 15 years management experience with SOA in both regional and
national positions, including national business management manager, regional
sales manager, regional vice president and most recently as vice president of
field operations.  Prior to joining Subaru in 1984, he worked with Ford Motor
Company in various sales and marketing positions.  Cyphers holds a bachelor's
degree in business administration from Michigan State University.

    Subaru of America, Inc. is a wholly owned subsidiary of Fuji Heavy
Industries Ltd. of Japan.  Headquartered near Philadelphia, the company
markets and distributes Subaru vehicles, parts and accessories through a
network of nearly 600 franchised dealers across the United States.  All Legacy
models sold in the U.S., including the Outback and Outback Sedan, are produced
at the company's American manufacturing plant, Subaru-Isuzu Automotive, Inc.,
near Lafayette, Ind.