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Mike Jackson, Pres., Mercedes-Benz of NA, Adds CEO Responsibility

1 December 1998

Mike Jackson, President, Mercedes-Benz of North America, Adds Chief Executive Officer Responsibility

    MONTVALE, N.J., Dec. 1 -- Mercedes-Benz of North America,
Inc. (MBNA) today announced that Mike Jackson, currently president of MBNA,
has assumed the additional responsibilities of chief executive officer.   The
move is the next step in the executive management transition in preparation
for the retirement of Michael Bassermann, chairman, at the end of 1998.
    Said Dr. Dieter Zetsche, DaimlerChrysler Aktiengesellschaft board member
in charge of worldwide sales, and marketing, "The transition from Michael
Bassermann's stewardship to Mike Jackson has been exceptionally well-managed,
allowing Michael to turn over the chief executive officer's responsibility to
Mike ahead of schedule.  There is no doubt that Mike Jackson's vision, market
knowledge and passion for our products will allow Mercedes-Benz to set the
standard for the luxury market and pave the way for the entire industry."
    Jackson began his career with Mercedes in 1971 as a dealership technician.
Over the next 18 years he broadened his knowledge of the retail auto business
with several auto dealerships, as well as working five years for MBNA as a
district manager and field service manager in the company's former Washington
Zone.
    Prior to coming to corporate headquarters in Montvale, N.J. in July 1990
as senior vice president, Jackson was executive vice president, general
manager and partner in Euro Motorcars in Bethesda, Maryland.
    While a Mercedes dealer, Jackson also served as chairman of the
Mercedes-Benz National Dealer Council and was selected for the 1990 Sports
Illustrated All-Star Dealer Award.  During his tenure at Mercedes' Montvale
headquarters, Jackson was selected by Automotive News for its "Dream Team" of
automotive executives.
    Bassermann, who remains chairman of MBNA until his retirement at the end
of the year, began his automotive career in 1965 with the Daimler-Benz
organization.  He assumed leadership of MBNA as president and CEO in July
1992.  Under his direction, MBNA's annual sales volume increased from
63,312 in 1992 to 122,265 in 1997.
    In March 1997, as part of a succession plan designed to maintain
leadership continuity in anticipation of his retirement, Bassermann turned
over the responsibility of president to Mike Jackson.
    During his 33 years with the organization, Bassermann held various
management positions both in Germany and in subsidiary companies.  Prior to
becoming President and CEO of MBNA, Bassermann was president of Mercedes-Benz
China and Mercedes-Benz Japan.
    Bassermann serves as a director on various management boards in the U.S.
including that of Mercedes-Benz Credit Corp. and Adtranz (ABB Daimler-Benz
Transportation, North America).