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DaimlerChrysler Extends Tender Offer for Detroit Diesel

28 August 2000

DaimlerChrysler Extends Tender Offer for Detroit Diesel

    STUTTGART, Germany and AUBURN HILLS, Mich., Aug. 28 DaimlerChrysler announced today that it has extended its $23.00 per share cash
tender offer for all of the outstanding shares of Detroit Diesel Corporation.
The tender offer, as extended, will expire at 5:00 p.m. Eastern Daylight
Savings Time on Monday, September 11, 2000.  As of the close of business on
August 25, 2000, the number of shares of Detroit Diesel common stock that had
been validly tendered was 17,755,953, including guaranteed deliveries which,
together with DaimlerChrysler's current ownership amounts to 98% of the
outstanding common stock of Detroit Diesel.  DaimlerChrysler noted that it
expects to file its pre-merger notification under the Hart-Scott-Rodino Act in
the US this week and that it submitted the required antitrust notification in
preliminary form with the European Commission last week and hopes the EU
filing will be accepted in final form by the end of the week.  Based on this
current status and assuming no extension of either review period,
DaimlerChrysler anticipates that the applicable waiting periods should expire
by the last week in September.