Mitsubishi to Enter Canadian Market With Full Range of Vehicles in 2003

       Auto Maker's Success in United States Drives Growth Into Canada

    TORONTO, Feb. 27 Building on its extraordinary momentum
and record US sales, Mitsubishi Motor Sales of America, Inc. (MMSA), today
announced its plans to enter the Canadian market through Mitsubishi Motor
Sales of Canada.  Through this subsidiary, Mitsubishi will now be able to
offer Canadians a full line of stylish passenger cars and sport-utility
vehicles that encourage Canadian consumers to "Wake Up and Drive(TM)."

    "Canadians purchase approximately 1.5 million new vehicles a year, making
this one of the world's top 10 automotive markets and a natural choice for
Mitsubishi Motors' global expansion," said Pierre Gagnon, executive vice
president and chief operating officer, Mitsubishi Motor Sales of America, Inc.
"We are excited to offer Canadians our full line of vehicles and look forward
to growing across this great country."

    Mitsubishi Motors anticipates it will begin selling cars in Canada early
in 2003, with a goal of opening 51 dealerships in the first year, growing to
150 dealerships within five years.  At that level, the dealer network would
result in the creation of approximately 6,400 new jobs.

    The company projects sales in Canada of 38,000 new vehicles annually by
the end of 2007, giving Mitsubishi an estimated two-percent share of the
Canadian new vehicle market.  Canada is the only major global automotive
market in which Mitsubishi Motors does not currently sell vehicles.

    "For any major auto company like Mitsubishi Motors, the Canadian market is
an important place to do business.  Canada has a world-class retail dealer
environment and a growing population of savvy consumers," added Gagnon.
    Mitsubishi Motor Sales of Canada plans to sell and distribute the same
models sold in the United States (eight models in 2003).

    In 2002, Mitsubishi Motors product line will also include an all-new
compact to be unveiled at the New York Auto Show in April 2001, and an
exciting new sport-utility vehicle based on the ASX concept car Mitsubishi
Motors showed at the 2001 North American International Auto Show in Detroit.

    Randy Sears is being appointed senior vice president and general manager
of Canadian operations.  Sears will be responsible for establishing Mitsubishi
Motors in the Canadian marketplace.  Currently, Sears is MMSA's regional
director for the North Central region.  Sears' career includes 20 years with
General Motors of Canada Ltd. and two years as general manager for Saturn,
Saab, Isuzu of Victoria Ltd., located in Victoria, British Columbia.

    "We will offer Canadian consumers value through competitive pricing, as
well as quality, reliability and style.  We're confident the Mitsubishi Motors
brand will connect with Canadian consumers just as it has with consumers in
the United States," said Sears.

    COO Gagnon and MMSA Senior Vice President and General Manager Greg
O'Neill, will lead the company's senior management team.  Gagnon and O'Neill
are both native Canadians and veterans of the Canadian automobile industry.