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March 19, 2003
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This Week:

• 2004 Cadillac XLR - Set To Become An Icon For Cadillac's New Era

• Land Rover Shows Broadest Line Ever At Atlanta Auto Show

• DaimlerChrysler acquires a 43 percent holding in Mitsubishi Fuso Truck and Bus Corporation (MFTBC)

• Nissan announces management changes to support the successful implementation of NISSAN 180

• Renault and Idro envisage manufacturing a common platform and vehicle together in Iran

• Planned BMW Group production in China approved by State Council

• Volkswagen presents second best results in its history

• Mercedes-Benz C-Class Production Passes the Million Mark Less Than Three Years after Manufacturing Launch

• BMW Group improves profit before tax to euro 3,297 million

• New President of Honda Motor Europe North

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DaimlerChrysler acquires a 43 percent holding in Mitsubishi Fuso Truck and Bus Corporation (MFTBC)

• Major milestone of global commercial vehicle strategy

• Direct access to Asia - one of the world's fastest growing commercial vehicle markets

• Considerable potential for synergies through joint development and commonality of parts and major components

Stuttgart - As planned DaimlerChrysler AG today acquired a 43 percent holding in the commercial vehicle business of the Mitsubishi Motors Corporation, which was spun off in January 2003 and operates under the name Mitsubishi Fuso Truck and Bus Corporation (MFTBC). The Mitsubishi Motors Corporation will retain 42 percent of the shares, with other Mitsubishi Group companies acquiring the remaining 15 percent. President and CEO of the new company is Wilfried Porth while Chairman of the Board of Directors will be Takashi Usami, the former head of MMC commercial vehicle business.

The purchase price paid by DaimlerChrysler for its share participation in MFTBC amounts to around € 710 million - some € 50 million less than the initially planned investment of € 760 million due to exchange rate fluctuations.

Dr. Eckhard Cordes, Member of the Board of Management of DaimlerChrysler responsible for the Commercial Vehicle Division stated that, "By investing directly in the Mitsubishi Fuso Truck and Bus Corporation, we have made an important move in Asia; a move that should help us to enhance our position as the world market leader over the long term."

Asia as a growth market

Asia is the world's fastest growing commercial vehicle market. Some 50 percent of all commercial vehicles are currently sold in this region. This direct investment will enable DaimlerChrysler to leverage the potential growth of these markets.

Mitsubishi Fuso Truck and Bus Corporation (MFTBC)

It is expected that the DaimlerChrysler investment will enable MFTBC to further strengthen its leading position in Japan and the Asian export markets. In addition, MFTBC can reap the benefits of economies of scale, to achieve clear cost advantages and to benefit directly from the innovative strength and technological leadership of DaimlerChrysler.

Next objective: "Daimler Hyundai Truck Corporation" (DHTC)

During the course of the coming weeks, DaimlerChrysler expects to achieve a further objective when the commercial vehicle business of the Hyundai Motor Company is spun off to create the "Daimler Hyundai Truck Corporation" (DHTC), a company in which DaimlerChrysler is acquiring a 50 percent share (purchase price approx. € 400 million). The existing engine joint venture is to become part of the new company that will produce trucks, buses and components.

(Mar 14, 2003)