PRESS RELEASE

Top Management Change

Michio Hori, Senior Vice President and Chief Financial Officer,
Appointed as New Chairman

April 20 , 2004

Tokyo, April 20. 2004 - Mitsubishi Fuso Truck & Bus Corp.(MFTBC) announced today that Michio Hori, 61-year-old Senior Vice President and Chief Financial Officer since 2003, was appointed as new chairman in the board of directors’ meeting held today.
He will succeed Takashi Usami, who resigned from the post on April 16.
Wilfried Porth, MFTBC President and CEO, noted that Hori will primarily devote in his new capacity his time to take initiatives in such areas as reforming the corporate culture and upgrading human resources in the entire MFTBC Group.
Commenting on Hori’s appointment, Mr. Eckhard Cordes, a Management Board Member of DaimlerChrysler, who is a non-full time member of the board of MFTBC, said “Mr. Hori was successfully leading the spin-off activities in January 2003, and has a proven track record in the firm’s financial restructuring. He is a man of character whom I can put full confidence in his abilities.”

Hori’s brief personal record is as follows:

1966	Joined Mitsubishi Heavy Industries, Ltd.
1970	Joined Mitsubishi Motors Corporation (MMC)
1997	General Manager of Corporate Planning & Research Dept. of Corporate Planning & Strategy Office
2000	Assistant to Executive Vice President of MFTB
2000	Deputy Corporate General Manager of Planning & Administration Office of MFTB
2001	Executive Officer (EO) MMC, Corporate General Manager of Planning & Administration Office of MFTB
2003	Senior Vice President and Chief Financial Officer of Mitsubishi Fuso Truck & Bus Corporation
2004	Chairman of the Board of MFTBC (currently)