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Mitsubishi Motors and DaimlerChrysler Complete Equity Alliance

Date: Oct. 18, 2000

Mitsubishi Motors(MMC) and DaimlerChrysler signed agreements regarding an equity tie-up on July 28. The companies agreed to and implemented changes to the contents on Sep. 8. After obtaining the required antitrust approvals, MMC and DaimlerChrysler completed their equity alliance today, with DaimlerChrysler making a 34% equity investment [202.4 billion yen (405yen/share)] in MMC and MMC issuing convertible bonds in a principal amount of 19.2 billion yen to DaimlerChrysler.

With the completion of the equity alliance, DaimlerChrysler personnel will formally assume positions in MMC management as of today. Manfred Bischoff will serve as Non-Executive Member on the MMC Board ; Steven A. Torok and Ulrich W. Walker will serve as Executive Members on the MMC Board ; and Alexander Paufler will serve as a Senior Executive Officer.

Mr. Rolf Eckrodt will assume his position as COO of MMC after he finishes his current job at Adtranz.

The completion of the equity alliance gives both companies the green light to start collaborating on projects.

[Mitsubishi Motors major shareholders] (thousands of shares)
Shareholders After DC participation
(as of Oct. 19, 2000)
Before DC participation
No. of
No. of
DaimlerChrysler AG 499,856 34.00% - -
Mitsubishi Heavy Industries, Ltd. 248,589 16.91% 248,589 25.62%
Capital Research and Management Company 88,763 6.04% 88,763 9.15%
Mitsubishi Corporation 77,492 5.27% 77,492 7.99%
AB Volvo 48,516 3.30% 48,516 5.00%
The Mitsubishi Trust and Banking Corporation 45,256 3.08% 45,256 4.66%
The Bank of Tokyo-Mitsubishi, Ltd. 43,026 2.93% 43,026 4.43%
NOTE: Shareholding figures are as of March 31, 2000 (excluding DaimlerChrysler).

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