Total sales up 11 percent from last year; second best February in history

CHERRY HILL, N.J., March 3, 2003 -- Subaru of America, Inc. (SOA), the only automobile manufacturer to feature a complete line of all-wheel drive vehicles, today announced February sales of 14,443 units. The total represents an 11 percent increase from February 2002, the best February sales result since 1986.

"We are extremely pleased with the sales result for February," said Subaru Executive Vice President, Fred Adcock. "Despite challenging weather conditions in the Northeast, the overall traffic improved dramatically toward the end of the month, generating very favorable sales results for the Subaru dealer organization. Demand for Subaru All-Wheel Drive vehicles remains very strong."

The Legacy model line achieved a sales total of 6,627 units, up 1 percent, while Subaru Outback recorded sales of 4,580 units for the month. Subaru Forester recorded sales of 3,959 units, a 17 percent increase from February 2002. The Impreza line recorded sales of 3,133 units for the month, a 1 percent increase from February 2002. Sales of the Baja model recorded a total of 724 units for the month.

For additional information about Subaru of America, Inc. and Subaru vehicles, visit our media website at www.media.subaru.com.

About Subaru of America, Inc.
Subaru of America, Inc. is a wholly-owned subsidiary of Fuji Heavy Industries Ltd. of Japan. Subaru pioneered the concept of the passenger car/sport-utility vehicle with the introduction of the Subaru Outback, the "World's First Sport Utility Wagon."

Headquartered near Philadelphia, the company markets and distributes Subaru vehicles, parts and accessories through a network of nearly 600 dealers across the United States. Over the past nine years, the company has achieved year-over-year retail sales increases thanks to its popular line of car-based sport utility vehicles, and is among the fastest growing brands in the automobile industry.