MMC will appoint a new president, representative director, soon. Until this appointment, Keiichiro Hashimoto, board member and chief financial officer, will oversee ongoing business as interim acting president.

Eckrodt joined MMC in January 2001 as Chief Operating Officer in charge of MMCs passenger car operations. On June 25, 2002, Eckrodt was elected president and CEO of MMC, a position he held until today.

During his tenure Eckrodt oversaw the successful implementation of various restructuring measures and far-reaching business reforms, the spin-off of the companys truck and bus operations as well as a significant improvement of the operational business in all regions except North America.

Commenting on the timing for his resignation, Eckrodt pointed to the decision of the Supervisory Board of DaimlerChrysler neither to participate in a capital increase nor to grant further financial support to Mitsubishi Motors Corporation, which was announced last Thursday.

I strongly welcome the quick decision of Mitsubishi Heavy Industries, Mitsubishi Corporation and Bank of Tokyo-Mitsubishi not only to offer financial support but also to actively work with Mitsubishi Motors Corporation on a new mid-term business plan as announced last Friday. Based on my sense of responsibility, I therefore decided to make way for the new team around future chairman Okazaki, Eckrodt said. The business revitalization team headed by Mr. Okazaki will work out this plan within the next month based on various essential steps that have already been analyzed and evaluated by MMC so far.

Eckrodt also stated I wish that MMC and especially its many motivated and excellent employees will continue the numerous positive processes initiated. I hope that the support from the shareholders side will ensure a prosperous and successful future not only of MMC, but in the same degree also to our domestic and international business partners, and of course most importantly to our customers.

By todays step, Eckrodt, 61, will also retire from a 38-year full-time career in the automotive business, which he started at Daimler-Benz (today DaimlerChrysler) in 1966. Upon the wish of Mitsubishi group companies, Eckrodt will remain available to provide support for MMC.

ROLF ECKRODT
Date & Place of Birth	June 25, 1942	/ Gronau (Westphalia), Germany
Education	1966	Diploma in Mechanical Engineering University of Bochum / Germany

Professional Experience
06/2002	President and Chief Executive Officer, Mitsubishi Motors Corporation
01/2001	Executive Vice President and Chief Operating Officer Mitsubishi Motors Corporation
12/1998	President and Chief Executive Officer Adtranz - DaimlerChrysler Rail Systems GmbH
08/1996	Executive Vice President and Deputy Chief Executive Officer Adtranz - ABB Daimler-Benz Transportation GmbH and Chairman of the Board of Management Adtranz - ABB Daimler-Benz Transportation (Deutschland) GmbH
05/1992	President Mercedes Benz do Brasil, S.A. Commercial Vehicles, Trucks and Buses
01/1990	Director worldwide Sales and Marketing Passenger Cars Mercedes-Benz AG
09/1987	Director Planning and Production Passenger Cars and Components Daimler-Benz AG
04/1986	Executive Assistant to the Head of the Mercedes-Benz Passenger Car Division
02/1983	Vice President Axle Production Passenger Cars Daimler-Benz AG
1981	Project Leader Production Components Passenger Cars Daimler-Benz AG
1968	Manager Passenger Cars Daimler-Benz AG
04/1966	Quality Assurance Passenger Cars Daimler-Benz AG
Additional Assignments
04/1999	Honorary Consul of Brazil in Potsdam/Germany
1999 - 2000	Chairman of UNIFE (Union of European Railway Industries)
1993 - 1996	Honorary Degree as Consulate of the Federal Republic of Germany in Brazil
1993 - 1996	Vice President German/Brazil Chamber of Commerce Sao Paulo, Brazil