S&P Asgn DaimlerChrysler Mstr Ownr Tr 2002-A Prlm Rtg

    NEW YORK--Standard & Poor's--June 10, 2002-- Standard & Poor's today assigned its preliminary triple-'A' rating to DaimlerChrysler Master Owner Trust's $2 billion floating-rate auto dealer loan asset-backed notes series 2002-A.
    The preliminary rating is based on information as of June 10, 2002. Subsequent information may result in the assignment of a final rating that differs from the preliminary rating. The preliminary rating reflects:

    -- Credit enhancement sufficient to withstand losses at the assigned rating levels;

    -- DaimlerChrysler Services' (DCS) strong historical performance and servicing/underwriting capabilities;

--	A sound legal structure; and
--	The transaction structure, which includes early redemption

events that limit investor exposure to losses.

    The securitized collateral consists of receivables generated under lines of credit extended by DCS to motor vehicle dealers throughout the U.S. This inventory floorplan financing is used by dealers to purchase new and used vehicles manufactured by DaimlerChrysler and other manufacturers pending sale to the ultimate retail buyer. Repayment of the loan (liquidation of the underlying securitized receivable) generally occurs when the underlying vehicle is sold.
    DCS provides floorplan financing to approximately 3,220 automobile dealers in the U.S., which includes approximately 58% of all U.S. DaimlerChrysler dealers. As of March 2002, approximately 38% of DCS' aggregate domestic floorplan portfolio was made up of franchises that operate both DaimlerChrysler and non-DaimlerChrysler franchises. Approximately 16% of the portfolio was non-DaimlerChrysler dealers.
    A copy of Standard & Poor's complete presale report for this transaction is available on RatingsDirect, Standard & Poor's Web-based credit analysis system, at www.ratingsdirect.com. The report is also available on Standard & Poor's Ratings Services Web site at www.standardandpoors.com/ratings. Under Presale Reports, select Structured Finance, then Asset-Backed Securities.

    Copyright 2002, Standard & Poor's Ratings Services