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PRESS RELEASE

Chrysler Financial Announces 1996 Earnings

21 January 1997

              Chrysler Financial Posts Record Earnings for 1996
  


    SOUTHFIELD, Mich., Jan. 21 -- Thomas W. Sidlik, Chairman of
Chrysler Financial Corporation (CFC), today announced the company set all-time
records for pretax and net earnings in 1996.
    Pretax earnings for 1996 were $586 million vs. $522 million a year ago, an
increase of 12 percent.  Net earnings for 1996 were $376 million vs.
$339 million a year ago, an increase of 11 percent.
    Automotive finance receivables managed increased for the fourth
consecutive year to $36.9 billion vs. $35.7 billion a year ago.
    Additionally, three of CFC's subsidiaries -- Chrysler Insurance, Chrysler
Realty and Chrysler Credit Canada Ltd. -- posted pretax and net earnings
records in 1996.
    (Visit Chrysler Financial's web site @ http://www.chryslerfinancial.com
for additional financial information.)

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CONTACT: Jack Ferry of Chrysler Financial, 810-512-2729