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Chrysler: Subsidiary Dollar Thrifty Automotive Group Subsidiary Dollar Files for IPO

6 November 1997

Chrysler Announces Its Subsidiary Dollar Thrifty Automotive Group, Inc. Formerly Pentastar Transportation Group, Inc. Files for Initial Public Offering

    AUBURN HILLS, Mich., Nov. 6 -- Chrysler Corporation
today announced that its subsidiary, Dollar Thrifty Automotive Group
Inc. (DTAG), formerly Pentastar Transportation Group, Inc., has filed with the
United States Securities and Exchange Commission (S.E.C.) a registration
statement relating to the issuance and sale in an initial public offering of
22,500,000 shares of its common stock.  Chrysler, which currently owns all of
DTAG's common stock, is offering 20,000,000 of the shares and DTAG is
offering 2,500,000 of the shares.  After completion of the offering, Chrysler
will no longer own any of the common stock.
    DTAG owns Dollar Rent A Car Systems, Inc. and Thrifty Rent-A-Car System,
Inc., which operate separate daily vehicle rental businesses and also license
independent franchisees to rent vehicles under their brands.
    Credit Suisse First Boston, Goldman Sachs & Co., J.P. Morgan & Co.
Securities Inc. and Salomon Brothers Inc will act as managers of the offering.
    A registration statement relating to these securities has been
filed with the S.E.C. but has not yet become effective.  These securities may
not be sold nor may offers to buy be accepted prior to the time the
registration statement becomes effective.
    This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or other jurisdiction in which such offer,
solicitation or sale would  be unlawful prior to the registration or
qualification under the securities laws of any such state or jurisdiction.

SOURCE  Chrysler Corporation