Chrysler Financial Begins Operations as a Stand-alone Company

FARMINGTON HILLS, Mich., Aug. 3 /PRNewswire/ -- The New ChryslerFinancial, created as a result of the transfer of assets fromDaimlerChrysler AG to an affiliate of Cerberus Capital Management, L.P.,begins operations today as a stand-alone company supporting the salesoperations and dealer network of "The New Chrysler," Chrysler LLC. Headquartered in Farmington Hills, Mich. and with offices throughoutNorth and South America, the company's 4,200 employees will continue tomanage a global portfolio of $75 billion covering dealer and consumerfinancing. The New Chrysler Financial will join The New Chrysler to celebrate its"First Day" on Monday, August 6, at its world headquarters in Auburn Hills,Michigan. About Chrysler Financial Chrysler Financial offers automotive financial products and services toboth dealers and consumers of Chrysler, Jeep(R) and Dodge vehicles in theU.S., Canada, Mexico, Puerto Rico and Venezuela. In addition to offeringvehicle wholesale and retail financing to more than 4,400 Chrysler, Jeepand Dodge dealers, Chrysler Financial also provides fleet management andlines of credit to dealers. Currently, nearly three million drivers in theUnited States enjoy the benefits of leasing or financing with ChryslerFinancial. Chrysler Financial has an employee base of 4,200 and supports aglobal portfolio of $75 billion. For more information visitcorp.chryslerfinancial.com.