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DaimlerChrysler Stock Begins Trading On Worldwide Stock Exchanges

18 November 1998

DaimlerChrysler Stock Begins Trading On Worldwide Stock Exchanges; 'DCX' Symbolizes Growth and Opportunities for Creating Value

    NEW YORK, Nov. 17 -- DaimlerChrysler,  the new company born
of the merger between Chrysler Corporation and Daimler-Benz AG, officially
begins life as a public entity today with its listing on the New York Stock
Exchange (NYSE) and the Frankfurt Stock Exchange.  The DaimlerChrysler shares
will be traded worldwide on 19 major stock exchanges under the symbol
DCX.
    "We are proud that DaimlerChrysler starts its existence breaking financial
market barriers, as this is the first time that a major non-North
American-domiciled company will trade the same "ordinary" shares on the NYSE
as it does in its country of incorporation and elsewhere around the world,"
said Robert J. Eaton and Jurgen E. Schrempp, chairmen of the new company.
    "But even more important, this day marks the beginning of a glorious
partnership.  It means that we are one organization with one focus: to be the
world's leading automotive, transportation and services company.  We want to
be pacesetters for customer orientation, innovation, technology and quality."
    The merger, which has been recognized as a groundbreaking cross-border
combination, was finalized last week in record time, a little more than six
months after the transaction was announced May 7, and with the strongest
shareholder approval of any such merger to date.
    As a result of the merger, Daimler-Benz's American depositary shares have
ceased trading on the NYSE; Chrysler's stock ceased trading Thursday,
November 12 on the NYSE.
    "We are delighted to launch a unique enterprise dedicated to growth,
innovation, and superior global brands," Eaton and Schrempp continued.  "We
start our journey with a portfolio of exceptional assets: some of the world's
most innovative products and powerful brands, financial strength and
flexibility, superior engineering and technological skills, a balanced
portfolio of vehicles in every market category and a group of transportation
and services businesses united by an understanding of global markets and the
commitment to serve them.  Our combination is based on and dedicated to
profitable growth.  Thus, DaimlerChrysler will not just be more efficient, but
also will safeguard and create qualified jobs and offer excellent returns to
our shareholders.
    "Our experience working together since the merger announcement has
reinforced our enthusiasm for the strategic rationale of the merger, the
opportunities for growing revenues and profits and the compatibility of our
people, cultures, products, and operations," the chairmen added.  "For the
past six months we have been building the foundation for a successful
integration of two strong corporate cultures.  We have about 100 working
groups well on their way to implementing synergies and have established a
post-merger integration team to review and prioritize all synergy projects.
Keep in mind that we are creating one new company, not simply imposing a
holding company structure on two independent operations.  While the hard work
still lies ahead, and will not be complete for two to three years, we are more
convinced than ever that we have all the right ingredients on which to build a
highly profitable, highly creative global automotive, transportation and
services leader.
    "We would like to welcome shareholders, customers, and employees from both
former companies to the new DaimlerChrysler as we proceed together as partners
to capitalize on our strengths.  We are fortunate to have a global workforce,
a global shareholder base, a global brand awareness and a global outlook.  We
are ideally positioned to reap the benefits of this historic merger and we
intend to do so with discipline and speed in order to maximize our
opportunities as we enter the 21st Century," the chairmen concluded.
    DaimlerChrysler had 1997 income before taxes of $7.0 billion
(DM 12.2 billion) on revenues of $132 billion (DM 229 billion), both on a pro
forma basis.  It has 1.0 billion shares outstanding.  The company has dual
headquarters in Stuttgart, Germany, and Auburn Hills, Michigan, and has a
worldwide workforce of 428,000 employees.   Its automotive brands include
Mercedes-Benz, Chrysler, Jeep , Dodge, Plymouth and Smart.  The group also
makes commercial vehicles under the Mercedes-Benz, Freightliner, Sterling and
Setra brands, manufactures aircraft and equipment at DaimlerChrysler Aerospace
(Dasa), and provides financial services through its debis and Chrysler
Financial Company LLC subsidiaries, as well as IT Services and
Telecommunications and Media Services.