Hello everyone.This is Takashi Sonobe.

Today I assumed the position of President and Chief Executive Officer of Mitsubishi Motors Corporation, and I'd like to take this opportunity to outline my policy.

The recall-related problems seriously damaged customer and public trust and confidence in our company. Both the management team members, and I deeply regret the trouble and concern this caused to our customers. I intend to correct the mistakes and handle the underlying problems that caused them.

We will put measures in place to totally reform and re-engineer the company, and I am committed to making these changes.

Our customers expect the best from us, and we intend to live up to their expectation.

We will reinvent our company by taking a series of actions to assure customers of our commitment to excellence. Mitsubishi Motors is in the business of winning customer satisfaction through the development, production, sale, and after-sales service of Mitsubishi brand vehicles. Through these activities, we contribute to the welfare of both local and global communities. These are business fundamentals.

To realize them, we will ensure that:

• Customer interests come first, and the company and every individual employee will dedicate themselves to that goal. The company will only invest in products that will satisfy customers.
• The company will put top priority on finding ways to provide the highest quality products and services to customers.
• The company will make fair and rational judgments and decisions, and will fully embrace the spirit of compliance.

Reaching these targets is my current goal. When customers and the public discover that we have done so, we will have regained their trust.

The automobile industry gets more competitive every day.

We have joined alliances with DaimlerChrysler in the passenger car sector, and with AB Volvo in the truck and bus sector.

We intend to succeed in these strategic alliances, and to take full advantage of the benefits they can create.

We also urgently need to improve our management efficiency.

To do so, today, November 1st, I am launching the Corporate Change Team to begin the process of rational reform. This team will develop detailed measures based on our corporate vision which I created.

By combining the ideas of the Corporate Change Team and the ideas of Mr. Rolf Eckrodt - Chief Operating Officer, who will join our management in January 2001, we will formulate a clear and detailed strategy. I am looking forward to announcing this strategy in the near future. We are committed to doing the right things, and we are now putting the right structure and process into place.

I know that Mitsubishi Motors and our worldwide group of companies will all do their best to win the satisfaction of our customers.

Thank you for your attention.

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