RNS Number:0217S
Mitsubishi Corporation
13 November 2003

Translation of report filed with the Tokyo Stock Exchange on November 13, 2003


                                                               November 13, 2003

               Notice Concerning Reclassification of a Subsidiary

Mitsubishi Corporation (MC) has announced that at a Board of Directors' meeting
held today a resolution was passed to acquire an additional 55% shareholding in
MKG Bank GmbH to make it a wholly owned subsidiary. MC presently holds a 45%
stake in MKG Bank. Details of the acquisition are as follows.


1.      Reason for the Additional Stock Purchase

MC has positioned the automobile finance business as a strategic field in
European automobile operations. By making MKG Bank, a joint venture with German
partners that provides dealer and consumer finance for the companyfs automobile
sales operations, a wholly owned subsidiary, MC aims to further build and expand
the business as one of its main earnings pillars.



MKG Bank is one of the main businesses in MCfs activities in Europe. MC plans to
expand its automobile finance business outside Germany by utilizing MKG Bankfs
strong operating base and to develop a multi-brand finance business by seizing
the opportunities created by revision of EU antitrust regulation. MC plans to
build up quality assets from these businesses and achieve ROA of 2%.



2.      Outline of the Reclassified Subsidiary

(1) Company name:                MKG Bank GmbH

(2) President & CEO:             Frank Lindenmeyer

(3) Head office:                 Schieferstein 11-B, 65439, Floersheim am Main, 
                                 Germany

(4) Date established:            November 4, 1987

(5) Main business activities:    Dealer finance, leasing and consumer
                                 finance of automobiles

(6) Fiscal year-end:             December 31

(7) Number of employees:          264 (excluding part-time employees)

(8) Primary place of business:    Schieferstein 11-B, 65439, Floersheim am Main, 
                                  Germany

(9) Capital:                      40,903,350.50 EUR

(10) Shareholders:                 - Local partners: 55%

                                   - MC-V (wholly owned holding company in Germany): 
                                     35%

                                   - MIG (Regional subsidiary in Germany): 10%



3.      Change in MCfs Shareholding

(1) Shareholding before reclassification:  45%

(2) Additional shareholding acquired:    55%

(3) Shareholding after reclassification:   100%



4.      Schedule

November 13, 2003              Board of Directorsf resolution

November 20, 2003             Stock acquisition date



5.  Effect on Earnings Forecast for the Fiscal year Ending March 31, 2004

    The effect of this transaction on MCfs earnings has already been
incorporated in the forecast of consolidated net income of 100 billion yen (U.S.
GAAP) for the year ending March 31, 2004, as announced today. MCfs total assets
and interest-bearing liabilities will increase about 200 billion yen and about
180 billion yen, respectively, due to this acquisition.



                                     # # #





Forward-Looking Statements

The statements included in this release contain forward-looking statements about
Mitsubishi Corporation's future plans, strategies, beliefs and performance that
are not historical facts. Such statements are based on the company's assumptions
and beliefs in light of competitive, financial and economic data currently
available and are subject to a number of risks, uncertainties and assumptions
that, without limitation, relate to world economic conditions, exchange rates
and commodity prices. Accordingly, Mitsubishi Corporation wishes to caution
readers that actual results may differ materially from those projected in this
release.




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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