-- Corporate Staffs supporting Mercedes-Benz Financial, DaimlerChrysler Truck Financial Moving to New Location in Oakland County, Michigan -- Chrysler Financial headquarters to remain at present location -- 'Reinforces Our Commitment to Metro Detroit' FARMINGTON HILLS, Mich., July 2 /PRNewswire/ -- DaimlerChrysler Financial Services Americas today announced that the corporate staffs supporting its Mercedes-Benz Financial and Truck Financial business units will be moving to a new location in Farmington Hills, Mich., after the transfer of assets of its Chrysler Financial business unit to Cerberus Capital Management is completed in the third quarter. Klaus Entenmann, President and CEO of DaimlerChrysler Financial Services Americas, said approximately 400 employees of the company will be moving to an existing four-story office building at 36455 Corporate Drive, along 12 Mile Road between Drake and Halsted roads. The company will be the sole tenant of the 153,000 square-foot building which can house up to 650 employees. Approximately 800 employees of Chrysler Financial will remain in the company's present location at 27777 Inkster Road, Farmington Hills, which can accommodate up to 1200 people. Chrysler Financial will continue to operate its eight Business Centers in major markets across the United States as well as four customer service locations. "The professionalism and passion of our people sets us apart from our competitors in automotive and trucking industry financial services," Entenmann said. "This move, a few miles away from our present headquarters, reinforces our commitment to Metro Detroit and keeps our headquarters for the entire Americas region right here in Michigan." Entenmann said the transfer of assets from Chrysler Financial to Cerberus is creating the need for more jobs in the financial services industry which will result in a positive impact on the economy of southeast Michigan. "The transfer of Chrysler Financial's assets will result in the creation of two separate financial services companies that previously existed as one company," he said. "Of the estimated 200 new jobs the transfer will create throughout the entire Americas region, about 100 of those jobs will be right here in Oakland County, Michigan." The new location in Farmington Hills will house the corporate staffs supporting Mercedes-Benz Financial and DaimlerChrysler Truck Financial, including Finance, Controlling, Risk Management, Audit, Communications, Human Resources, Information Technology, Legal and other departments. Mercedes-Benz Financial will continue to operate its Business Centers in New Jersey and California, and its Customer Contact and Remarketing operations in Dallas. The Truck Financial business unit will continue to maintain its executive offices and sales, operations and customer service activities in suburban Chicago in Lisle, Ill. Michigan Governor Jennifer M. Granholm applauded the decision by DaimlerChrysler Financial Services Americas to keep its corporate headquarters in Michigan. "This decision by DaimlerChrysler Financial Services -- an international company doing business in 40 countries -- to keep its Americas headquarters in Michigan is a signal that our work to implement an aggressive economic plan is encouraging businesses to choose Michigan for their growth," Granholm said. "This move is creating good jobs for our workers and securing DaimlerChrysler's presence in Southeast Michigan for years to come." Oakland County Executive L. Brooks Patterson echoed the Governor's sentiments. "DaimlerChrysler Financial Services's decision to stay here recognizes the fact that Oakland County has a highly educated and skilled, world class workforce and world class facilities which serve as magnets for other global companies looking for an ideal location to pursue opportunities for business success," he said. The company will receive a $500,000 grant from the Michigan Economic Development Corporation to use for training programs for its employees. The Birmingham, Mich., architectural firm Landry + Newman is designing the interior of the new headquarters. It previously designed the interior of the present headquarters, the former home of Michigan National Bank. About DaimlerChrysler Financial Services Americas LLC DaimlerChrysler Financial Services Americas LLC provides brand-specific financing for automotive dealers' inventories and their retail consumers, and conducts business as Chrysler Financial and Mercedes-Benz Financial. As DaimlerChrysler Truck Financial, it also finances commercial vehicles for affiliate products such as Freightliner, Sterling and Western Star. The company serves as the headquarters for operations in the United States, Canada, Mexico, Puerto Rico, Argentina, Brazil and Venezuela, and has approximately 5,600 employees who manage a portfolio of close to $107 billion with nearly five million contracts. DaimlerChrysler Financial Services Americas LLC is a company of the DaimlerChrysler Financial Services Group, headquartered in Berlin, Germany, which operates in more than 40 countries with an employee base of close to 11,000 and a global portfolio of approximately $150 billion. DaimlerChrysler Financial Services is one of the leading financial services organizations worldwide. For more information on DaimlerChrysler Financial Services Americas LLC, visit their Web site at http://www.daimlerchrysler-financialservices.com/na. DATASOURCE: DaimlerChrysler Financial Services Americas LLC CONTACT: Jack Ferry, +1-248-427-3124, Cell +1-248-761-3233, , or James Ryan, +1-248-427-6696, Cell +1-248-790-5100, , both of DaimlerChrysler Financial Services Americas LLC Web site: http://www.daimlerchryslerfinancialservices.com/na

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