DaimlerChrysler Definitive Agreement to Sell Chrysler Group (including Chrysler Financial Corporation) to Cerberus Capital Management, L.P.

DaimlerChrysler Definitive Agreement to Sell Chrysler Group (including Chrysler Financial Corporation) to Cerberus Capital Management, L.P.

May 14, 2007

    AUBURN HILLS, Mich., May 14 /Xinhua-PRNewswire/ --

    Attribute: "Attribute: Tom LaSorda, President and
CEO, Chrysler Corporation LLC

    "We are confident that this transaction will
create a standalone Chrysler that is financially stronger,
with a winning combination of people, industry know-how,
operational expertise and spirit of innovation that will
accelerate the company's recovery, and help us regain our
position as a competitive industry leader. 

    Cerberus is the right strategic buyer for Chrysler,
with a long-term commitment to Chrysler's growth and
success. They are committed to working constructively with
both union leadership and Chrysler's management team to
help Chrysler realize its full potential. There are no new
job cuts planned in connection with this transaction
announced today. 

    As a private company, Chrysler will be better
positioned to focus on its long-term plan for recovery,
rather than just short-term results. It will allow Chrysler
to renew its focus on what has always made us special - our
passion, creativity and commitment to delivering exciting
Chrysler, Jeep and Dodge vehicles and quality Mopar parts
to our customers, along with unparalleled customer service.


    With strong backing from Cerberus and a continued
relationship with Daimler, Chrysler must demonstrate once
and for all that we can win in this global marketplace. It
is ours to win. And Chrysler has it in its DNA to do just
that." 

    For more information, please contact:

     Mike Aberlich
     Tel:   [phone]
     Cell:  [phone]
     Email: [e-mail]

     Jason Vines
     Tel:   [phone]
     Cell:  [phone]
     Email: [e-mail]

     Shawn Morgan
     Tel:   [phone]
     Cell:  [phone]
     Email: [e-mail]