Statement Regarding Transaction of The New Chrysler

    AUBURN HILLS, Mich., Aug. 3 /CNW/ -- The New Chrysler today issued the
following statement from Tom LaSorda, President and CEO, regarding the closing
of a transaction for the company:  "With the transaction complete, we can now
focus all of our efforts on our day-to-day business by moving faster, quickly
reacting to customer needs and bringing out industry- leading products," said
LaSorda. "We have support from two solid partners - Cerberus and Daimler -
which will give us the strong financial backing and the resources we need to
fuel the long-term success of this great company."
    About The New Chrysler
    The New Chrysler, headquartered in Auburn Hills, Michigan, produces
Chrysler, Jeep(R), Dodge and Mopar(R) brand vehicles and products. Total sales
worldwide in 2006 were 2.7 million vehicles. Sales outside of North America
were the highest in a decade with an increase of 15 percent over 2005. On the
heels of the company's record product launch year (Chrysler launched 10 all-
new vehicles in 2006), the company plans to extend that streak with eight all-
new products in 2007. Its product lineup features some of the world's most
recognizable vehicles, including the Chrysler 300, Jeep Commander and Dodge
Charger. The Chrysler Foundation, the company's philanthropic arm, gave $23.6
million in grants in 2006. Chrysler is a unit of Cerberus Capital Management.
    About Cerberus
    Established in 1992, Cerberus Capital Management, L.P. is one of the
world's leading private investment firms with approximately $25 billion under
management in funds and accounts. Through its team of more than 275 investment
and operations professionals, Cerberus specializes in providing both financial
resources and operational expertise to help transform undervalued companies
into industry leaders for long-term success and value creation. Cerberus is
headquartered in New York City, with affiliate and/or advisory offices in
Atlanta, Chicago, Los Angeles, London, Baarn, Frankfurt, Tokyo, Osaka and
Taipei. More information on Cerberus can be found at

For further information:

For further information: Mike Aberlich, +1-248-512-2704 (office), 
+1-248-635-7072 (cell),, or Shawn Morgan , +1-248-512-2692 
(office), +1-248-760-2621 (cell), Web Site:        

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