Chrysler Group Named Michigan Minority Business Development Council's 'Corporation of the Year' for Fifth Time

* 2004 minority sourcing equaled $3.4 billion - 12 percent of total spend * Chrysler Group employees named MMBDC Buyer of the Year and Corporate Advocate of the Year * Chrysler Group's innovative "Matchmaker" and MEI programs help minority suppliers grow and succeed * Chrysler Group has actively supported minority businesses for 22 years and is committed to generating new business opportunities

AUBURN HILLS, Mich., Sept. 28 -- For the fifth time, Chrysler Group has been honored as the "Corporation of the Year" by the Michigan Minority Business Development Council (MMBDC). The award, which is the Council's most prestigious, evaluates all auto manufacturers on their diversity supplier development programs, and the initiatives the companies implement to help minority suppliers succeed. MMBDC also named Chrysler Group employees Timothy Wright and Margaret Hails Buyer of the Year and Advocate of the Year, respectively. The award's were presented at the MMBDC's 22nd Annual Awards Dinner last night at Cobo Hall in Detroit, MI.

Over the span of two decades, the Chrysler Group's Minority Supplier Development division has nearly doubled dollars spent by promoting new business opportunities for minority businesses and Tier One suppliers. Chrysler Group's continued efforts to build these relationships have introduced several initiatives for the Minority Business Enterprises (MBE). These initiatives steer minority suppliers toward success, with programs that include "Matchmaker" and the Minority Enterprise Initiative (MEI) program.

Matchmaker

In 2000, Chrysler Group developed the "Matchmaker" program, which was designed to pair minority and Tier One suppliers, and encourage networking and the development of long-term partnerships. The first year garnered about $15 million in business opportunities. Since then, the program has generated $850 million in new business opportunities.

This year's "Matchmaker" program introduced the latest innovative sector of its program, "The 5-Minute 'speed dating' Lunch Date," a "meet-and-greet" session where randomly selected MBEs were able to hold face-to-face conversations with leading Tier One executives to hopefully create a first impression that would lead to a follow-up date.

Minority Enterprise Initiative (MEI)

The much-heralded Minority Enterprise Initiative is one of the first programs to link auto manufacturers with minority suppliers and a financial institution (Comerica Bank), and one of the only automotive initiatives to address all aspects of a supplier's business. MEI was developed to help minority suppliers improve technical capabilities and increase quality and performance.

Results of the program show that participating suppliers have increased their business with Chrysler Group by an average of 26 percent -- which is more than $200 million in new business for minority companies. In addition, the MEI program has generated more than $95 million in new capital loans for suppliers through Comerica Bank.

Additional Programs Benefiting Minority Businesses

In November 2004, Chrysler Group hosted 15 minority-owned U.S.-based suppliers on a business opportunity mission to South Africa to benefit minority and Black-owned suppliers in both countries. The trip helped Chrysler Group's minority-owned suppliers become more globally competitive by forming business ties with South African black-owned businesses, while South Africa's developing automotive industry benefited from the exposure of U.S.-based suppliers.

Chrysler Group Diversity Supplier Development

"Chrysler Group has actively supported minority businesses for 22 years, and we will continue to create innovative programs that help suppliers grow and remain in business," said Jethro Joseph, Senior Manager - Supplier Diversity, Chrysler Group. "Since the inception of our minority supplier development program, we have sourced more than $21 billion to minority businesses, and our 'Matchmaker' program continues to generate new business opportunities. That direct support will continue."

In 2004, Chrysler Group spent $3.4 billion with minority suppliers, which represents 12 percent of its total purchasing spend and an increase of $300 million from the previous year. Since 1983, the Company has sourced more than $27 billion to minority-owned companies.

The Corporation has received the National Minority Supplier Development Council's Corporation of the Year award five times: in 1986, 1993, 2000, 2003 and 2005.