(NY-MILBERG-WEISS) Milberg Weiss Announces the Filing of a Class Action Suit Against DaimlerChrysler AG on Behalf of Foreign Investors

NEW YORK, June 2 -- The law firm of Milberg Weiss Bershad & Schulman LLP announces that a class action lawsuit was filed on May 2, 20044, 2004, on behalf of all persons and entities who are NOT citizens or residents of the United States who purchased or otherwise acquired the securities of DaimlerChrysler AG ("DaimlerChrysler" or the "Company") between November 17, 1998 and November 17, 2000, including those former shareholders of Chrysler Corporation ("Chrysler") who surrendered their Chrysler shares in connection with the merger of Chrysler by and into the Company on or about November 17, 1998, on or through a securities exchange NOT based in the United States.

The action seeks to pursue remedies under Sections 10(b), 20(a) and 14(a) of the Securities Exchange Act of 1934 and Rules 10b-5 and 14a-9 promulgated thereunder, and Sections 11, 12(a)(2) and 15 of the Securities Act of 1933. A copy of the complaint filed in this action is available from the Court, or can be viewed on Milberg Weiss' website at: http://www.milbergweiss.com

The action, numbered 04-331, is pending in the United States District Court for the District of Delaware, against defendants DaimlerChrysler, Daimler-Benz AG, Jurgen E. Schrempp, Eckhard Cordes, Manfred Gentz, Jurgen Hubbert, Manfred Bischoff, Kurt Lauk, Klaus Mangold, Heiner Tropitzsch, Klaus- Dieter Vohringer, Dieter Zetsche and Thomas Sonennberg.

The complaint alleges that defendants issued a number of materially false and misleading statements in order to get shareholder approval for the proposed merger of Chrysler and Daimler-Benz. For example, defendants misrepresented that the transaction would be structured as a "merger-of- equals" that would result in a newly formed entity with dual headquarters in the U.S. and Germany, whose officers and directors would be comprised of the officers and directors of the former constituent companies equally. Defendants characterized the transaction as a merger-of-equals, as opposed to an "acquisition," because, pursuant to applicable law, an acquisition requires the acquieror to pay a sizable "control premium" for the shares of the company being acquired whereas a merger-of-equals requires no such premium, or a much smaller one. Defendants misrepresented that the transaction would be a merger- of-equals in order to purchase Chrysler on the cheap. In fact, as investors would learn only after the end of the Class Period, the transaction was not a merger-of-equals, but rather, a takeover of Chrysler by Daimler-Benz, with former Daimler-Benz executives taking control, over time, of the newly formed DaimlerChrysler and Chrysler relegated to the status of a subordinate division. In addition, defendants continued to falsely tout the success of the merger and the growth that the Company supposedly was experiencing. In fact, defendants had artificially inflated the reported results by prematurely recognizing revenues and understating costs in the quarter preceding the merger. The truth was revealed on November 17, 2000, when the Company reported financial results that fell well below defendants' guidance. Then, on, March 5, 2001, a former Chrysler executive was quoted in Forbes as stating that defendants had prematurely recognized revenues in the quarter preceding the merger to drum up support. Class members acquired their shares at artificially inflated prices and were damaged by defendants' conduct.

NOTICE TO NON-U.S. ACQUIERORS OF DAIMLERCHRYSLER SECURITIES ON OR THROUGH EXCHANGES NOT BASED IN THE UNITED STATES.

If you are a NON-U.S. CITIZEN OR RESIDENT who purchased or otherwise acquired the securities of DaimlerChrysler between November 17, 1998 and November 17, 2000, or surrendered your Chrysler shares in connection with the merger of Chrysler by and into the Company on or about November 17, 1998, on or through a securities exchange NOT based in the United States, and sustained damages, you may, no later than July 26, 2004, request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Milberg Weiss Bershad & Schulman LLP, or other counsel of your choice, to serve as your counsel in this action.

Milberg Weiss Bershad & Schulman LLP (http://www.milbergweiss.com) is a firm with over 100 lawyers with offices in New York City, Los Angeles, Boca Raton, Delaware, Seattle and Washington D.C. and is active in major litigations pending in federal and state courts throughout the United States. Milberg Weiss has taken a leading role in many important actions on behalf of defrauded investors, consumers, and others for nearly 40 years. Please contact the Milberg Weiss website for more information about the firm. If you wish to discuss this action with us, or have any questions concerning this notice or your rights and interests with regard to the case, please contact the following attorneys:

    Steven G. Schulman
    Peter E. Seidman
    Andrei V. Rado
    One Pennsylvania Plaza, 49th fl.
    New York, NY, 10119-0165
    Phone number: (800) 320-5081
    Email: sfeerick@milbergweiss.com

For more information please visit: http://www.milbergweiss.com or write to: foreigninvestor@milbergweiss.com

Steven G. Schulman, or Peter E. Seidman, or Andrei V. Rado, all of Milberg Weiss Bershad & Schulman LLP, 1-800-320-5081, or sfeerick@milbergweiss.com