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Chrysler Announces Initial Public Offering of Dollar Thrifty Automotive Group Inc.

17 December 1997

Chrysler Announces Initial Public Offering of Dollar Thrifty Automotive Group, Inc. (Formerly Pentastar Transportation Group, Inc.)

    AUBURN HILLS, Mich., Dec. 17 -- Chrysler Corporation
today announced the initial public offering of 22,500,000 shares of
common stock of its subsidiary, Dollar Thrifty Automotive Group Inc.
at a price of $20.50 per share.  Chrysler, which currently owns
all of Dollar Thrifty Automotive Group's common stock, is offering 20,000,000
of the shares and Dollar Thrifty Automotive Group is offering 2,500,000 of the
shares.  After completion of the offering, Chrysler will no longer own any of
the common stock.
    Of the shares being sold, 19,125,000 are being offered in the United
States by Credit Suisse First Boston, Goldman Sachs & Co., J.P. Morgan
Securities Inc. and Salomon Smith Barney.  They will act as underwriters for
the shares.  In addition, 3,375,000 shares are being simultaneously offered
outside the United States.  Dollar Thrifty Automotive Group has granted the
underwriters and international managers an option to purchase up to 3,375,000
additional shares of Dollar Thrifty Automotive Group common stock solely to
cover any over-allotments.
    Dollar Thrifty Automotive Group 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.
    A copy of the prospectus may be obtained from Credit Suisse First Boston,
Eleven Madison Avenue, New York, NY  10010.

SOURCE  Chrysler Corporation