Mercedes-Benz Credit Reduces Leasing Acquisition Fees in New York

FARMINGTON HILLS, Mich., Aug. 5, 2005 -- Mercedes-Benz Credit announced today that the company will reduce its acquisition fee for vehicles leased in the state of New York.

Effective today, Mercedes-Benz Credit's acquisition fee for Mercedes-Benz vehicles leased in New York will be reduced to match the fee charged in the other 49 states. The company is taking this action as a result of the U.S. Senate's and House of Representatives' decisions to pass the Graves Amendment as part of the federal transportation bill that is awaiting the signature of President Bush.

The higher acquisition fee in New York was necessary to help mitigate the exposure to New York's lessor vicarious liability law and to help offset the high insurance premiums resulting from this law.

Leasing companies, under New York's law, are held responsible for personal injury and property damage caused by the driver of a leased vehicle, regardless of the fact that the leasing company has absolutely no control over the use or operation of the vehicle. Under the proposed new federal law, lessor vicarious liability would be eliminated.

"We are pleased that both houses of Congress passed the Graves Amendment and we anticipate that President Bush will sign the bill into law as early as next week," said Juergen Rochert, Vice President of Mercedes-Benz Credit. "Now our dealers can offer our customers in New York the best luxury vehicles in the world at even more attractive payments."

About Mercedes-Benz Credit

The company provides financing for Mercedes-Benz dealers' inventories and their retail customers. Currently, 350,000 drivers in the United States enjoy the benefits of leasing or financing their Mercedes-Benz vehicles through Mercedes-Benz Credit, which is part of DaimlerChrysler Services North America LLC. DCSNA's group of companies operates in the United States, Canada, Mexico, Puerto Rico and South America. DCSNA is part of the DaimlerChrysler Financial Services Group, headquartered in Berlin, Germany, which operates in 39 countries and has an employee base exceeding 10,800 and a global portfolio of approximately $139 billion. DaimlerChrysler Financial Services Group is one of the leading financial services enterprises worldwide.