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Chrysler Declares Dividend

21 May 1998

Chrysler Declares Dividend

    ENGLEWOOD, Colo., May 21 -- Chrysler Corporation
announced today that its Board of Directors has declared a dividend of $0.40
per share on the Company's common stock.  The dividend is payable July 15,
1998, to shareholders of record on June 15, 1998.
    The Board also declared a dividend of $1.15625 per depository share, each
representing 1/10th of a share of the Company's Series A Convertible Preferred
Stock, payable July 15, 1998, to shareholders of record on June 15, 1998.
    In connection with the pending merger of Daimler-Benz and Chrysler
Corporation, the Company has suspended the share repurchase program.
    Shareholders will receive a proxy related to the merger later this summer,
and a special meeting will be held to vote on the merger transaction.
Shareholders will be notified of the date and location of the meeting once the
details have been determined.