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DaimlerChrysler Financial Services North America Announces Reorganization

14 February 2000

DaimlerChrysler Financial Services (debis) North America Announces Reorganization

     SOUTHFIELD, Feb. 11 -- DaimlerChrysler Financial Services
(debis) North America today announced a reorganization of its operations that
will centralize all automotive finance support functions for the Chrysler
group and Mercedes-Benz brands.  The realignment establishes a single,
cost-efficient umbrella organization for all of DaimlerChrysler Service's
automotive finance units within NAFTA, while keeping the operating groups for
those brands separate and distinct.
    "Over the past year, the former Chrysler Financial Company and Mercedes-
Benz Credit Corporation merged headquarters functions to form a single
umbrella organization, and we needed a leaner, more efficient structure that
reflected that change," said Darrell L. Davis, president and CEO,
DaimlerChrysler Financial Services (debis) North America.
    "Our newly structured operations group will continue to work aggressively
with our strategic partners in the automotive groups -- the Chrysler Group in
Auburn Hills and Mercedes-Benz USA in New Jersey -- to hone our services and
financial products to meet the changing needs of dealers and customers," Davis
added.
    Business units operating within DaimlerChrysler Financial Services (debis)
North America include the U.S., Canadian and Mexican operations of Chrysler
Financial, Chrysler Insurance, Mercedes-Benz Credit, Freightliner and Sterling
Truck credit operations, and Remarketing Services of America.
    To strengthen brand distinctions and lead the newly merged company, the
following operations organizational realignments were announced:
   -- Thomas McAlear has been appointed to the newly created position of Chief
Operating Officer, Automotive, reporting to Darrell Davis.
    The following executives will report to Mr. McAlear:
    -- Juergen Rochert, President, DaimlerChrysler Financial Services (debis)
       Canada.
    -- Fred Luss, President and Managing Director, debis Commercial Services,
       Mexico.
    -- Richard Wardwell, Vice President, Marketing, Mercedes-Benz Credit and
       Chrysler brands.
    -- Michael L'Archer, appointed to the newly created position of Vice
       President/General Manager, Mercedes-Benz Brands.
    -- Robert Knight, Vice President/General Manager, Eastern Field Operations
       and Dodge brand portfolio.
    -- Piero DiMambro, Vice President/General Manager, Central Field
       Operations and minority and mega-dealer portfolios, Chrysler group
       brands portfolio.
    -- Devon Cohen, Vice President/General Manager, Western Field Operations
       and Chrysler group brands portfolio.
    -- Paul Knauss, Vice President, Customer Service, Collections and
       Remarketing Services of America.

    "The NAFTA financial services arm of DaimlerChrysler Services needs to
reflect the strategic automotive partnerships and customer relationships that
shape innovative automotive financing in North America," Davis said.
    "This newly aligned operations group will help us refine and cultivate
those partnerships, and it will allow us to make to most significant
contribution to DaimlerChrysler worldwide."
    Southfield-based DaimlerChrysler Financial Services (debis) North America
L.L.C. is a unit within Berlin-based DaimlerChrysler Services (debis) AG, the
financial arm of DaimlerChrysler AG and the world's fourth largest
automotive finance company.