Press Release

Mitsubishi Motors Announces Decision on New Chairman

Tokyo, February 19, 2004 - Mitsubishi Motors Corporation (MMC) today announced that its board of directors held a special meeting this morning and preliminarily resolved the nomination of Yoichiro Okazaki as the new chairman of the company.

Okazaki, 61, will take up the post left vacant since October 28, 2003, when former MMC chairman Takashi Sonobe passed away. He is currently serving as a Managing Director at Mitsubishi Heavy Industries (MHI).

"The nomination of Yoichiro Okazaki as our new chairman signals the continued commitment of Mitsubishi Heavy Industries, Mitsubishi Corporation, and Bank of Tokyo-Mitsubishi to stand behind Mitsubishi Motors," said MMC President and CEO Rolf Eckrodt. "We look forward to him playing an important role in implementing our new mid-term business plan."

Today's decision is subject to approval at a special shareholders' meeting and board of directors' meeting slated for April 30.

Personal Record

1.	Full Name:	Yoichiro Okazaki
2.	Date of Birth:	December 16, 1942
3.	Date Joined:	Apr. 1, 1965 Joined Mitsubishi Heavy Industries, Ltd. (Mar. 1965 Graduated from School of Science and Engineering I of Waseda University )
4.	Career:
	Apr. 1, 1995	Deputy General Manager, Sagamihara Machinery Works of Mitsubishi Heavy Industries, Ltd.
	Apr. 1, 1997	Chief Engineer, General Machinery & Components Headquarters
	May 7, 1997	President of Mitsubishi Caterpillar Forklift America Inc.
	Jun. 29, 1999	President of Mitsubishi Caterpillar Forklift America Inc. Director, Chief Coordinator, General Machinery & Components Headquarters
	Apr. 1, 2000	President of Mitsubishi Caterpillar Forklift America Inc. Director, Chief Coordinator, General Machinery & Special Vehicle Headquarters
	Apr. 1, 2001	Director, General Manager, General Machinery & Special Vehicle Headquarters President of Mitsubishi Caterpillar Forklift America Inc.
	May 7, 2001	Director, General Manager, General Machinery & Special Vehicle Headquarters Retired the post of President, Mitsubishi Caterpillar Forklift America Inc.
	Jun. 27, 2001	Director, General Manager, General Machinery & Special Vehicle Headquarters Held also the post of Director, Shin Caterpillar Mitsubishi Ltd.
	Jun. 28, 2001	Managing Director, General Manager, General Machinery & Special Vehicle Headquarters