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Mercedes-Benz Credit Restructures Operations 'to Strengthen Customer Focus'

October 15, 2003

Mercedes-Benz Credit (MBC), a business unit of DaimlerChrysler Services North America LLC, announced Oct. 15 a new organizational structure. According to the company, the new structure is a further development of Mercedes-Benz Credit aligning its strategy, planning and regional marketing programs closer to Mercedes-Benz USA (MBUSA).

In April 2003, MBC introduced six new region managers to be housed within the existing MBUSA structure which has improved communication and streamlined processes between the two entities and the entire Mercedes-Benz dealer network, thereby resulting in greater customer satisfaction.

MBC currently operates out of three regions located in Atlanta, Wilmington, Del., and Portland, Ore. The new business centers will be located in Parsippany, N.J., and Costa Mesa, Calif., and collocated with MBUSA. The concentration of the operations in these two main areas will increase operational efficiencies, strengthen customer focus and allow MBC to invest more strategically into its operations, according to MBC.

"This strategic move will enable MBC to jointly increase its market effectiveness with MBUSA. With such a close alignment, MBC will increase its levels of service to the dealers and their customers along with having greater flexibility in responding to regional market shifts," said Juergen Walker, president and CEO, DaimlerChrysler Services.

In addition to the restructuring, Mercedes-Benz Credit also named Chris Meagher, 48, currently responsible for the Wilmington region, managing director of the New Jersey operations. Mark Ingram, 44, currently responsible for the Atlanta region, was named managing director of the operations in California.

The transition to the new business centers will commence in the second quarter of 2004 with completion within three months.

About DaimlerChrysler Services North America LLC

DaimlerChrysler Services North America LLC provides brand-specific financing for automotive dealers' inventories and their retail consumers and does business as Chrysler Financial and Mercedes-Benz Credit. As DaimlerChrysler Services Truck Finance it also finances commercial vehicles for affiliate products such as Freightliner, Sterling and Western Star.

The company serves as the headquarters for the operations in the United States, Canada and Mexico and has more than 5,500 employees who manage a portfolio of $83 billion with nearly five million contracts.

DaimlerChrysler Services North America is a member of the DaimlerChrysler Services Group, headquartered in Berlin, Germany, which operates in 39 countries with an employee base exceeding 10,800 and a global portfolio of EUR 103 billion.

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