Mitsubishi Motors Reveals Name of Soon to Be Launched S.U.V.

CYPRESS, Calif., July 18 -- Newly appointed President and Chief Executive Officer of Mitsubishi Motors America, Inc., Pierre Gagnon, announced that the automaker's first new vehicle in its Project America series has been named. The eagerly-anticipated, all-new, mid-sized Sport Utility Vehicle designed and built in North America for this market will be named Endeavor. Endeavor is expected to hit showrooms in early 2003 as a 2004 model.

"Endeavor will complement Mitsubishi's expanding line of S.U.V.s and will compete aggressively in the growing mid-sized S.U.V. market," said Gagnon. "Consumers in this segment will soon have another choice that is thoroughly Mitsubishi in its spirited performance and stylish design."

Endeavor will join a line of Mitsubishi S.U.V.s that will soon include the Outlander entry-level S.U.V. that is coming this fall, in addition to the popular full-sized Montero and mid-sized Montero Sport. Endeavor is expected to compete favorably in the competitive mid-sized S.U.V. market against such vehicles as the Toyota Highlander, Honda Pilot, and Nissan's new Murano.

This exciting new crossover S.U.V. will be powered by a V6 engine, and will be available as either a front-wheel-drive or an all-wheel-drive model. The underpinnings of this new five-passenger sport-ute also will serve as the mechanical materia prima of the next generation Galant sedan.

The name Endeavor was announced shortly after Mitsubishi Motors Corporation outlined plans to completely consolidate its North American sales, manufacturing, finance, and research and development operations into a new single organization. The consolidated company will be led by North American executives and represents the company's global commitment to further growth and investment in the North American market.

Endeavor is the first vehicle coming to market under Mitsubishi Motors' Project America initiative. Project America represents a $1.4 billion investment by Mitsubishi Motors to develop vehicles in North America specifically for the North American market. Endeavor was conceived at Mitsubishi Motors design center in Cypress, Calif., engineered at Mitsubishi Motors research and development operation in Ann Arbor, Mich., and will be assembled at Mitsubishi Motors' plant in Normal, Ill.

Including Endeavor, Mitsubishi plans to launch seven new vehicles over the next three years in North America, four of which are part of the Project America initiative.

Mitsubishi Motor Sales of America, Inc., was established in 1981 by Mitsubishi Motors Corporation, Tokyo, and markets a full line of vehicles, including coupes, convertibles, sedans and sport utility vehicles. Its Web site can be accessed at www.mitsubishicars.com .

For additional information, please contact the Mitsubishi Motors News Bureau at 888-560-6672.