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Daimler Financial Services Americas Teams With Liberty Mutual

February 6, 2008

Farmington Hills, Mich. — Daimler Financial Services Americas is supporting the retail sales launch of the smart fortwo in the United States with a comprehensive package of finance and insurance products for consumers and dealers.

Daimler Financial is providing inventory financing for smart USA Distributor LLC, wholesale financing for dealer inventories, retail financing for smart fortwo owners and has teamed up with Liberty Mutual Insurance Company to create a smart USA-branded retail insurance program that is licensed in all 50 states.

“Our Daimler Insurance team, working with Liberty Mutual, has created a personal auto insurance plan for smart fortwo drivers that can save customers hundreds of dollars a year on their car insurance,” said Klaus Entenmann, president and CEO of Daimler Financial Services Americas. “Our retail and insurance packages offered by smart center dealers will allow smart fortwo owners to take advantage of one-stop shopping to quickly get rolling in this amazing vehicle.”

The highlights of this personal auto insurance plan for smart fortwo drivers is called “Insurance foryou” and features: 12-month guaranteed rate; genuine smart fortwo replacement parts; new-vehicle replacement coverage in the first year of ownership and within 15,000 miles; 24-hour roadside assistance anywhere in the U.S. and Canada; towing to your nearest smart dealer or qualified repair facility; 24-hour claims service, seven days a week.

"smart USA is excited to partner with two fantastic companies who pride themselves on outstanding customer service. Both Daimler Financial Services and Liberty Mutual have a long history of success in the United States," said David Schembri, president, smart USA.

This consumer car insurance program is innovative in the captive financing market as all customer touch points are being used to promote the program, including F&I manager referral, Website enrollment, finance billing inserts and cross-selling by Liberty Mutual field agents and call center agents.

“Our research has shown that well-known major insurers may not have been fully prepared to quote on a brand new vehicle that is creating a brand new segment in the U.S. market,” said Anamika Singhal, general manager, Daimler Insurance Americas. “With Liberty Mutual as a partner on Insurance foryou, the program enables smart fortwo owners to obtain a highly competitive quote along with a special discount which helps get vehicles on the road, especially for those thousands of customers who made advanced reservations on the purchase of the smart fortwo months ago.”

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