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DaimlerChrysler Completes Acquisition of Detroit Diesel

13 October 2000

DaimlerChrysler Completes Acquisition of Detroit Diesel

    AUBURN HILLS, Mich. and STUTTGART, Germany, Oct. 13 DaimlerChrysler AG announced today that it completed its
acquisition of Detroit Diesel Corporation by merging its acquisition
subsidiary into Detroit Diesel.  As a result of the merger, which became
effective today, each outstanding share of Detroit Diesel common stock not
owned by DaimlerChrysler was converted into the right to receive $23.00 in
cash, without interest.  Detroit Diesel stock ceased to be traded on the
New York Stock Exchange as of the close of business on Thursday, October 12,
2000.
    Detroit Diesel stockholders who hold their stock certificates will receive
notice in the mail regarding the process to surrender their shares for cash.
Detroit Diesel stockholders whose shares are held through banks or brokers
will receive information about their holdings from those institutions.
    Detroit Diesel Corporation, incorporated in 1987, is an international
leader in diesel engines for on- and off-highway applications.  The company
offers engines from 22 to 11,000 horsepower for the on-highway, off-road
(including power generation) and automotive markets through a worldwide
network of more than 2,700 authorized distributor and dealer locations.  It
designs, manufactures, markets, services and provides after market and
remanufactured diesel and alternative fuel engines.
    DaimlerChrysler AG is the world's leading manufacturer of commercial
vehicles with the brands Mercedes-Benz, Freightliner, Sterling, Setra and
Thomas Built Buses.
    Investors and security holders are strongly advised to read both the
tender of statement and the solicitation/recommendation statement regarding
the tender offer referred to in this press release, because they contain
important information.  The tender offer statement has been filed by
DaimlerChrysler with the Securities and Exchange Commission (SEC), and the
solicitation/recommendation statement has been filed by Detroit Diesel with
the SEC.  Investors and security holders may obtain a free copy of these
statements at the SEC's website at http://www.sec.gov .  The tender offer statement
and related materials may be obtained for free by directing such requests to
DaimlerChrysler North America Holding Company.  The
solicitation/recommendation statement and such other documents may be
obtained by directing such requests to Detroit Diesel Corporation.