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Chrysler Seeks Roots in The Big Apple

10 July 2000

    Berlin - Hoping to regain some of its US sole and build some buzz on Wall 
Street, DaimlerChrysler is talking about moving its corporate communications 
and investor relations departments into the Chrysler building in midtown 
Manhattan.  The landmark art-deco structure was originally opened in 1930 by 
Walter P. Chrysler, founder of the US automotive group.  For a short time the 
Chrysler building was the world's tallest skyscraper until surpassed by the 
Empire State building just a few blocks away.

    The departments are currently housed at DC's corporate US headquarters in 
Auburn Hills, Michigan.  The move, if made, could create quite a stir within 
the company's American ranks as many believe that the Auburn Hills facility has 
already been subordinated to 'second-class' status within the organization.

    News of the plans came as DaimlerChrysler confirmed separate proposals to 
seek substantial cost savings in its headquarters and other administrative 
operations.  Managers have been given the mandate of cutting costs by 25% over 
three years.


MJR