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Chrysler Declares Dividend

4 December 1997

Chrysler Declares Dividend

    AUBURN HILLS, Mich., Dec. 4 -- Chrysler Corporation
today announced that its Board of Directors has declared a dividend of $0.40
per share on the Company's common stock.  The dividend is payable January 15,
1998 to shareholders of record on December 15, 1997.
    The Board also declared a dividend of $1.15625 per depositary share, each
representing 1/10 of a share of the Company's Series A Convertible Preferred
Stock, payable January 15, 1998 to shareholders of record on December 15,
1997.
    "Our commitment has always been to return value to our shareholders and we
believe the high yield and sustainability of our dividend, coupled with our
ongoing share buyback program, are good reasons for our shareholders to be
pleased with their investment in Chrysler," said Robert J. Eaton, Chairman,
President and Chief Executive Officer.
    Since 1995, Chrysler has spent approximately $5 billion repurchasing over
20 percent of the Company's shares.  In October the Company announced that the
share repurchase program continues for 1998 with another $2 billion committed,
subject to market and general economic conditions.

SOURCE  Chrysler Corporation