Auburn Hills, Mich., Apr 29, 2008 - Since the acquisition of Chrysler LLC by affiliates of Cerberus Capital Management, LP on August 3, 2007, the company has enjoyed positive operating earnings. Daimler reports Chrysler Holding LLC's results on a one quarter lag based on International Financial Reporting Standards (IFRS), rather than U.S. GAAP which is utilized by the company. Due to that lag, the results announced by Daimler on April 29th primarily relate to the 4th quarter of 2007. The results for Chrysler Holding LLC include both the automotive and financial services operations.

There are significant differences between IFRS and U.S. GAAP accounting standards. Major differences include the effects of the acquisition of Chrysler Holding LLC by Cerberus, including recent restructuring actions by Chrysler LLC and the accounting for pension costs under the 2007 UAW contract. Accordingly, the 2007 financial results of Chrysler LLC under U.S. GAAP are substantially better than the IFRS-based financial results utilized by Daimler.