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.June 16, 2004
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This Week:

• Nissan Qashqai Concept Wins European Design Award

• New Sophisticated Ford Focus Concept

• Porsche Ceramic Composite Brake

• Maybach Debuts in Mainland China

• Toyota's Indiana Plant Celebrates The Production Of Its One-Millionth Vehicle

• Strong Growth And Expanding Business Spur BMW Financial Services - Relocation Plans

• World's Cleanest, Most Fuel-Efficient SUV, 2005 Ford Escape Hybrid Priced Under $27,000

• "Follow your own star." - Christina Aguilera says an exclusive "Hello" to the new Mercedes-Benz A-Class

• Canton Begins Production of Altima Sedan

• Volkswagen achieves major growth in the Asia-Pacific region

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Strong Growth And Expanding Business Spur BMW Financial Services - Relocation Plans
 

DUBLIN, OH - With long range growth plans pointing toward continued business expansion, BMW Financial Services NA, LLC has announced that it will build a new international customer service center in neighboring Hilliard, Ohio. The move, which is contingent upon approval of city and state economic development incentive packages and final negotiations with the developer, will allow the company to grow to meet the needs of its customers as BMW expands its business in North and Latin America. With a financial portfolio totaling more than $15 billion in managed assets, and an on-site workforce of about 750 people (employees and vendors combined), the remarkable growth of the financial services arm of BMW of North America has exceeded the capacity of its existing facility in Dublin.

The BMW Group has enjoyed successes in the US with steady sales increases since 1991 and now BMW is a leading player in the luxury automotive field in the US. "We are introducing exciting new products to our customers and are poised for more growth in the years ahead," Christman explained. "BMW Financial Services has experienced eleven years of consecutive growth and we expect that to continue."

Since the construction of its original building on Parkcenter Circle in 1996, BMW Financial Services has experienced an overall increase in managed assets of 190 percent and a rise in on-site employment of 123 percent.

Once final approval of the relocation plans is received, construction is expected to begin later this year with completion in the first quarter of 2006. The developer selected for the project is Duke Realty.

BMW Financial Services

BMW Financial Services NA, LLC was established in 1992 as a captive finance company to support the sales and marketing efforts of the BMW Group in North and Latin America. With more than $15 billion in managed assets and nearly 500,000 customers, BMW FS leases or finances more than half of the new BMW vehicles sold in the U.S. BMW FS employs more than 700 people, most of whom are located in the Dublin, Ohio Customer Service Center.

BMW Financial Services provides a wide range of leasing, retail, commercial, banking and insurance products tailored to meet the needs of BMW customers and dealers in the United States, Canada, Mexico, Argentina and Brazil. All lease servicing, including credit underwriting, funding, customer service, title administration, lease-end and collections are handled at the Dublin customer service center. A growing portfolio of banking, credit card and insurance offerings is also available through the BMW Bank of North America, based in Salt Lake City.

(June 11, 2004)