BMW Bank of North America Names New Execs

Ken Petersen, Chairman of the BMW Bank of North America

Woodcliff Lake, NJ - April 29, 2008... BMW Bank of North America, LLC has announced three new executive appointments at the BMW Bank of North America, based in Salt Lake City, Utah.

"The BMW Bank of North America has grown steadily since it was formed in 1999. These management appointments address that growth and the dedicated resources necessary to meet the demands of a larger financial institution," said Edward A. Robinson, President and CEO of BMW Group Financial Services, Americas Region.

Ken Petersen has been appointed Chairman of the BMW Bank of North America, where he will act as chair of the Board of Directors and will be responsible for providing oversight of Bank management from a regulatory perspective. Petersen will also be responsible for managing and maintaining the Bank's external relationships. With more than twenty years experience in the Industrial Bank industry, Petersen has held similar positions at Industrial Banks owned by USAA; Advanta; GE Capita;' Sears Roebuck and GMAC. He obtained his undergraduate degree from Buena Vista University in Storm Lake, Iowa.