Thomas Dennis Co. Announces Name Change

GREENSBORO, N.C., May 12, 2003 -- Thomas Dennis Co., LLC has changed its name to DaimlerChrysler Commercial Buses North Carolina (DCCBNC) to complete the separation with joint-venture founders Thomas Built Buses and The Mayflower Corporation's Dennis Company. The company will continue to manufacture its popular SLF 200 low floor and CL 100 shuttle buses at its plant in Greensboro, N.C. The organizational structure established in January of 2002 also remains intact with DCCBNC reporting to DaimlerChrysler Commercial Buses North America (DCCBNA).

"When DaimlerChrysler Commercial Buses North America took complete ownership of Thomas Dennis, Co. earlier this year, a new company name was necessary to best reflect its products and ties to DaimlerChrysler," said Andy Strecker, president of DCCBNA. "We offer our customers a complete line of leading bus and coach products and fully support our customers with innovative products and service solutions. This name change further strengthens our position in the industry as a complete transit, shuttle and coach manufacturer."

Production levels of the SLF 200 and CL 100 buses continue to grow, with output doubling for both products last year. Later this month, DCCBNC will introduce a new 29-foot version of the popular SLF 200 model -- available with a Mercedes-Benz engine, multiplexed electrical network, and a host of features designed to add value and long life -- to its line of 32-foot and 35-foot low floor buses. Designs and concept vehicles for additional products are underway with plans for market introductions later in the year.

"We've experienced exceptional growth the past year and we intend to continue to build on our reputation and expand our product offerings to meet the needs of transit and shuttle operators," said Tony Domabyl, president of DCCBNC.

Other DCCBNA companies -- Setra of North America, luxury motorcoach marketer and Orion Bus Industries, heavy-duty transit bus manufacturer -- are not impacted by the name change.

Headquartered in Greensboro, N.C., DaimlerChrysler Commercial Buses North America produces and markets a full-range of commercial bus and coach products under the Orion, Setra and DaimlerChrysler Commercial Buses nameplates. DaimlerChrysler is the world's leading manufacturer of buses and coaches. For further information, visit the Web site at www.dcbusna.com.