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Chrysler Financial Adds New CEO and COO

August 11, 2008

FARMINGTON HILLS, Mich. -- Chrysler Financial has appointed key executives to further strengthen the company's focus on its core business.

Thomas F. Gilman is appointed to the newly created position of vice chairman and chief executive officer. This position combines the former roles of executive vice chairman and president and chief executive officer into a single position. In this new position Gilman will set the strategic direction that creates value and ensures the alignment of the company's performance with investor's expectation.

Darryl R. Jackson is appointed chief operating officer and is responsible for leading the company's sales and marketing activities. Jackson joins Chrysler Financial from Chrysler LLC where he previously held the position of vice president of U.S. Sales.

"We are pleased to have Darryl join the team," said Gilman. "Darryl's strong finance background in combination with his extensive experience in sales and marketing at Chrysler and his relationships with the dealer body will be a great asset to us in our efforts going forward."

In addition to these announcements, Paul Knauss, president and CEO, and William F. Jones, Jr., chief operating officer, have announced their decisions to retire.

"Paul and William have made significant contributions to Chrysler Financial's success over the years," said Gilman. "While it is difficult to lose two seasoned leaders, Chrysler Financial is on solid ground and I appreciate their dedication and commitment to ensuring the company is well positioned for the future."

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