DTE Energy Services Purchases Utility Equipment at Eight DaimlerChrysler Corp. Plants

ANN ARBOR, Mich., May 26, 2004 -- DTE Energy Services and an affiliate of the Goldman Sachs Group Inc., have formed a joint venture to acquire utility equipment at eight DaimlerChrysler Corp. (Chrysler Group) manufacturing plants, the companies announced today.

DTE Energy Services -- a subsidiary of DTE Energy Co. -- will provide a variety of utility management services to DaimlerChrysler Corp. under a long- term management services agreement. The utility assets, at DaimlerChrysler Corp. plants in Michigan, Indiana and Ohio, were purchased for $288 million.

The types of equipment included in the project are production-support systems such as electrical equipment, steam boilers, wastewater treatment and lighting systems, compressed air, chilled water and air handling equipment. DaimlerChrysler Corp. employees supporting these assets will continue to work for DaimlerChrysler Corp., under the direction of DTE Energy Services' staff as it relates to these systems.

In a separate transaction, DTE Energy Services also will provide comprehensive energy conservation services at the plants to reduce energy consumption and achieve cost savings, said Karl R. Wittbold, vice president - business development at DTE Energy Services.

"This arrangement is a perfect strategic fit for both companies," Wittbold said. "DTE Energy Services is experienced in operating similar utility service projects for large industrial customers. With our dedicated and experienced staff, we can improve the reliability and energy efficiency of each plant's utility system so DaimlerChrysler can focus on what it does best -- building world-class cars, trucks and SUVs."

DTE Energy Services has developed similar utility services projects with other automakers, as well as with steel companies, large commercial and institutional businesses, and in the pulp and paper industry, Wittbold said.

"Many industrial concerns are focusing more closely on their core businesses and turning to companies like DTE Energy Services to manage their utility needs," he said. "Transferring these utility assets and operating responsibility to companies such as DTE Energy Services allows industrial companies to free up capital and management resources for other higher return activities."

Headquartered in Ann Arbor, Mich., DTE Energy Services develops, acquires, builds, owns and operates energy projects for industrial, commercial and institutional customers and power generation facilities. DTE Energy Services has facilities in 15 states, ranging from power plants to on-site energy facilities such as coke batteries, powerhouses and pulverized coal injection operations. For more information on DTE Energy Services, visit http://www.dteenergyservices.com/

DTE Energy is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its largest operating units are Detroit Edison, an electric utility serving 2.1 million customers in Southeastern Michigan, and MichCon, a natural gas utility serving 1.2 million customers in Michigan. Information about DTE Energy is available at http://www.dteenergy.com/