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Mitsubishi Motors Takes Over Andrew Cowan Motorsports in United Kingdom

- Further streamlining of global motor sports activities -

Tokyo, April 2, 2003 -Mitsubishi Motors Corporation (MMC) today announced it took over control of Andrew Cowan Motorsports, Ltd. (ACMS) in Rugby, United Kingdom, as of April 1, 2003.

ACMS has been engaged in motor sports engineering, building World Rally Championship (WRC) cars and handling relations with the Federation Internationale de l'Automobile on behalf of MMC.

Andrew Cowan is one of the best known and respected persons on the World Rally Championship circuit. After his extensive career as a driver, Cowan went on to enjoy a number of successes as team founder and director. He is also an accepted expert in motor sports around the world. Cowan will stay with the team for another 2.5 years to help drive MMC's push to once again become a top WRC team.

"After decades of being heavily involved in motor sports, I thought long and hard about my team and the future direction I want to take personally," said Cowan. "I am very proud and happy that we reached this solid solution with Mitsubishi Motors under the lead of Sven Quandt, Head of Motor Sports."

"We made this decision together in good spirit to secure the future of the Rugby operations. Andrew contributed with excellent team management that lead to four WRC Championships," Sven Quandt pointed out.

Ulrich Walker, Executive Vice President at MMC, thanked Andrew Cowan for his "professionalism and everything he did as a Mitsubishi Motors ambassador around the world."