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DaimlerChrysler Wins Prestigious 'Corporation of the Year' Award From National Minority Supplier Development Council

2 November 2000

DaimlerChrysler Wins Prestigious 'Corporation of the Year' Award From National Minority Supplier Development Council

    AUBURN HILLS, Mich., Nov. 2 In front of an audience of
over 2,000 guests, DaimlerChrysler Corporation was bestowed with the National
Minority Supplier Development Council's (NMSDC) prestigious "Corporation of
the Year" award in New Orleans last night.  This prized award is in
recognition of the company's exemplary achievements in the areas of minority
supplier business development.
    In addition to receiving Corporation of the Year, DaimlerChrysler was
awarded the NMSDC Business Consortium Fund's President's Star Award for
outstanding efforts in furthering the fund's mission to increase access to
capital for minority businesses.  Plus, Jethro Joseph, DaimlerChrysler Senior
Manager of Special Supplier Relations, was awarded the "Minority Business
Enterprise Coordinator of the Year" for personally striving to support
minority business growth and development on behalf of the NMSDC.
    "We are honored to be recognized for our commitment to support the growth
of minority suppliers," stated James P. Holden, President and CEO,
DaimlerChrysler Corporation.  "We believe our supplier base should be a direct
reflection of our changing customer base.  Every employee should be proud of
this major achievement."
    The NMSDC received nominations from 39 corporations nationwide for the
"Corporation of the Year" award.  The six finalists for the award were Bank of
America, DaimlerChrysler Corporation, Ford Motor Company, General Motors, IBM
and SBC Communications.  The entries were judged on various factors, including
the percentage of dollars sourced to minority businesses, joint ventures,
educational and technical assistance, the use of minority-owned services and
others.  Chrysler Corporation won this award in 1986 and 1993.
    In 1983, DaimlerChrysler sourced $25 million to minority suppliers.  That
number grew to $528 million in 1992 and $2.1 billion in 1999.  By the end of
this year, the company expects to source $2.5 billion to minority-owned
suppliers.
    On May 16 of this year, DaimlerChrysler announced the DaimlerChrysler
Minority Enterprise Initiative, an unprecedented partnership with Comerica
Bank and ASG Renaissance, to provide minority suppliers with comprehensive
business assessments to improve their current processes and be better poised
for new business opportunities.  This program is unique in that it marks the
first time an OEM has entered into a working partnership with a bank and a
consulting firm to support and grow the OEM's minority supplier base.
    DaimlerChrysler's Special Supplier Relations (SSR) Department has been at
the forefront of minority supplier support for more than 15 years.
Established in 1983, SSR primarily focuses on assuring that the company has a
quality minority supplier base to achieve minority sourcing goals.  SSR has
been recognized by the National Coalition of Minority Businesses for its
outstanding efforts in minority supplier sourcing.
    The National Minority Supplier Development Council's (NMSDC) primary
objective is to provide a direct link between corporate America and minority-
owned businesses.  It was chartered in 1972 to provide increased procurement
and business opportunities for minority businesses of all sizes.  The NMSDC is
comprised of a National Office in New York and 39 regional councils across the
country, including the Michigan Minority Business Development Council.  The
NMSDC boasts 3,500 corporate members and the regional councils certify and
match more than 15,000 minority-owned businesses with member corporations that
want to purchase goods and services.