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Mercedes-Benz of North America Names Ronald J. Elder

4 February 1999

Mercedes-Benz of North America Names Ronald J. Elder Vice President, Finance and Controlling

    MONTVALE, N.J., Feb. 3 -- Mercedes-Benz of North America,
Inc. (MBNA), has named Ronald J. Elder, vice president, finance and
controlling.
    In this capacity, Elder will serve as MBNA's chief financial officer,
reporting directly to Mike Jackson, president and CEO.  Elder will also join
the MBNA executive management committee.
    Prior to joining MBNA, Elder was director, manufacturing group accounting
for the DaimlerChrysler Corporation, Auburn Hills.  He previously served in a
number of other assignments, including vice president and chief financial
officer for the rental car subsidiary, Pentastar Transportation Group.  He
joined the corporation in 1986.
    Ronald J. Elder is a graduate of the University of Detroit with a bachelor
of science degree in accounting, and holds a master's degree in business
administration with a concentration in finance from the University of
Michigan.  He is a certified public accountant.
    Elder succeeds Wilfried Steffen, who, after six years of association with
MBNA, will assume the role of president, Mercedes-Benz Schweiz (Switzerland)
AG at the end of this summer.  At present, he will continue his role as
coordinator of DaimlerChrysler's global sales and marketing integration team.