John Snow, Head of Firm Buying Chrysler, to Address the National Press Club

'How Private Equity Is Reviving U.S. Manufacturing and the Global Economy'

WASHINGTON, July 11, 2007; John Snow, chairman of the company buying Chrysler and former U.S. Treasury Secretary, will discuss the role of private equity in U.S. manufacturing and the global economy at a National Press Club luncheon on Wednesday, July 18.

Snow is chairman of Cerberus Capital Management LP, a New York hedge-fund and private-equity manager. Cerberus agreed May 14 to buy an 80.1 percent stake in Chrysler for $7.4 billion from DaimlerChrysler AG. Snow will discuss Chrysler's return to U.S. ownership and what it means to the North American automotive industry.

Snow, 67, will also discuss the growing role of private investment in the global economy and his views on the outlook for the rest of 2007.

Snow was sworn in as the 73rd U.S. Treasury Secretary in February 2003 and served more than three years in that job under President George W. Bush. He helped win legislative support for a third round of tax cuts in May 2003, and he helped persuade Congress to extend the lower rates on investments in 2006. Snow was also chairman and chief executive officer of the CSX Corp. railroad, where he spent 20 years.

The National Press Club luncheon will begin promptly at 12:30 p.m. on Wednesday, July 18. Snow's remarks will begin just after 1:00 p.m., followed by a question-and-answer session. Advance reservations should be made by calling (202) 662-7501. Cost of the luncheon is $16 for National Press Club members, $28 for guests of members and $35 for the general public.

The National Press Club is located at 14th and F. Streets, NW, one block west of Metro Center. More information about the Club and its programs is found on its Internet website: http://www.press.org/.