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Chrysler Hires Former Toyota President

September 6, 2007

AUBURN HILLS, Mich. — Chrysler LLC Chairman and CEO Robert Nardelli announced the appointment of James Press as vice chairman and president. Press, who was president and chief operating officer of Toyota Motors North America and a director of the parent company, will now be responsible for North American sales, international sales, global marketing, product strategy, and service and parts for Chrysler LLC.

Press joins Tom LaSorda as a vice chairman and president, reporting to Nardelli. LaSorda’s responsibilities will continue to include manufacturing, procurement and supply, employee relations and global business development and alliances.

Press joins Chrysler after 37 years with Toyota, where he most recently served as the first non-Japanese president of Toyota Motor North America, responsible for sales, engineering and the company’s 15 manufacturing plants with 41,000 employees in North America. He was also the first non-Japanese executive selected to the Board of Directors of Toyota Motor Corporation.

During his tenure at Toyota, the company grew from an upstart new company selling 100,000 vehicles per year to the second largest auto company in the United States.

Press becomes a member of the Chrysler LLC Board of Directors and the Board of Managers of Cerberus Operations and Advisory Co. (COAC) LLC. Press joins LaSorda as vice chairman of COAC.

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