Recently I picked up a 92 legacy sedan with 125K. After about 5 minutes of run time it leaks coolant from the timing cover and appears to be from the passenger side of the exhaust. It does this until it comes up to temp and than seems to stop. 

 

Need to do the timing belt and water pump soon, but is there something else to look for while the timing cover is off? 

Not really. Do the whole deal - belt , pulleys , water pump with new bypass hose (small elbow) , thermostat , and reseal your oil pump and do cam seals.

upper radiator hose

Thanks for the replies.