Chrysler Financial Begins Operations as a Stand-alone Company

FARMINGTON HILLS, Mich., Aug. 3, 2007 -- The New Chrysler Financial, created as a result of the transfer of assets from DaimlerChrysler AG to an affiliate of Cerberus Capital Management, L.P., begins operations today as a stand-alone company supporting the sales operations and dealer network of "The New Chrysler," Chrysler LLC.

Headquartered in Farmington Hills, Mich. and with offices throughout North and South America, the company's 4,200 employees will continue to manage a global portfolio of $75 billion covering dealer and consumer financing.

The New Chrysler Financial will join The New Chrysler to celebrate its "First Day" on Monday, August 6, at its world headquarters in Auburn Hills, Michigan.

About Chrysler Financial

Chrysler Financial offers automotive financial products and services to both dealers and consumers of Chrysler, Jeep(R) and Dodge vehicles in the U.S., Canada, Mexico, Puerto Rico and Venezuela. In addition to offering vehicle wholesale and retail financing to more than 4,400 Chrysler, Jeep and Dodge dealers, Chrysler Financial also provides fleet management and lines of credit to dealers. Currently, nearly three million drivers in the United States enjoy the benefits of leasing or financing with Chrysler Financial. Chrysler Financial has an employee base of 4,200 and supports a global portfolio of $75 billion. For more information visit corp.chryslerfinancial.com.