Northville Township, Mich., April 15, 2003 — Mitsubishi Electric Automotive America (MEAA) today named David Stone executive director - powertrain, body, & chassis. Mr. Stone will be responsible for all sales and marketing account activity for heavy-duty truck powertrain products for Mitsubishi Electric.

“We are very pleased to have Dave join our team,” says Mike DeLano, MEAA senior vice president, automotive sales and engineering. “The heavy-duty segment of Mitsubishi Electric is experiencing excellent acceptance and growth in this most competitive industry. His experience is invaluable to our efforts to manage and direct this growth, focus our activities, and to support our growing customer base.”

Mr. Stone joins Mitsubishi Electric after several years with Delco Remy International, Inc., most recently as director – international business. Previously, he was the director of purchasing and supplier quality. Delco Remy International, Inc. is a global manufacturer and remanufacturer of automotive, powertrain, drivetrain, and electrical products.

About Mitsubishi Electric Automotive America

Mitsubishi Electric Automotive America, a U.S. subsidiary of Mitsubishi Electric Corporation, was established in 1979 in response to the continued growth of the North American automotive business, particularly for electronics. MEAA offers all aspects of engineering, manufacturing, sales and marketing, distribution and service of electrical and electronic systems and components for automobile manufacturers and industrial engine manufacturers. MEAA has close to $650 million in annual sales and 900 employees in North America. For more information about Mitsubishi Electric Automotive America, visit www.meaa-mea.com.

With over 80 years of experience in providing reliable, high-quality products to both corporate clients and general consumers all over the world, Mitsubishi Electric Corporation (FTSE: 6503q.l) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. The company has operations in 35 countries and recorded consolidated group sales of $27.4 billion (3,649 billion yen) in the year ended March 31, 2002. For more information about Mitsubishi Electric, visit www.global.mitsubishielectric.com