The New Chrysler Financial

-- Key Ingredient in Driving Brand and Customer Loyalty -- Continued Commitment to Dealers and Customers -- Strong Management Team FARMINGTON HILLS, Mich., Aug. 6 /PRNewswire-FirstCall/ -- The NewChrysler Financial, 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. "Our role at Chrysler Financial is crystal clear," said Paul Knauss,President and Chief Executive Officer, "to continue providing competitivefinancing services to our Chrysler, Jeep and Dodge dealers and to help thembuild customer loyalty to their brands. Our new status as a stand-alonecompany will help us do that more effectively and make us an even morevaluable partner to Chrysler." "We also have the opportunity to expand beyond our traditionalboundaries within automotive financial services," said Knauss. Knauss stated Chrysler Financial will offer the same level of serviceand programs as in the past and that thanks to a comprehensive transitionplan there will be no disruption to any programs or services formerlyoffered. He added that the company hopes to be able to draw on theexpertise of its new parent to potentially offer additional programs andservices in the future. 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. Approximately 800 employees will remain in the company's headquartersat 27777 Inkster Road. Chrysler Financial will continue to operate itseight business centers in major markets across the United States as well asfour customer service locations, in addition to its operations in Canada,Mexico, Puerto Rico and Venezuela. "It is our employees who make the difference and who will drive us intothe future," Knauss added. "Their enthusiasm about our future combined withthe strong management team we've put in place will drive our innovation tomake us the first-choice provider of financial services and keep us sharplyfocused on delivering results. We can't wait to get started." The New Chrysler Financial Management Team Paul Knauss, President and Chief Executive Officer William F. Jones, Jr., Chief Operating Officer Gino Cozza, President and Chief Operating Officer - Canada Jim Haan, Vice President - Insurance Company Tracy Hackman, Vice President and General Counsel Mark Manzo, Vice President - Sales and Marketing Machelle McAdory, Vice President - Human Resources and Administrative Services Karla Middlebrooks, Vice President - Finance and Controlling Pat Milantoni, Vice President- Customer Service and Collections Johannes Riesterer, President - Mexico Frank Werner, Vice President - International 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.