National Press Release

AUBURN HILLS, Mich., Aug. 1 /PRNewswire/ -- The following can be attributed to Ron Kolka, Executive Vice President and Chief Financial Officer, Chrysler LLC.

"Chrysler LLC today announced that in spite of the severe economic and industry challenges, we continue to perform ahead of our financial plan for the second quarter and first half of 2008. The Company measures its financial performance against two primary financial metrics: Cash/Marketable Securities and EBITDA (earnings before interest, taxes, depreciation, amortization and restructuring charges). As of June 30, 2008, the Company had Cash/Marketable Securities of $11.7 billion, (including $2.3 billion in Restricted Cash and excluding $2.3 billion in VEBA* assets), well ahead of its plan and down slightly from year-end 2007. As well, for the six months ended June 30, 2008, Chrysler posted an EBITDA of approximately $1.1 billion, well ahead of plan.

"The Company remains ahead of its financial plan due primarily to Chrysler's fast response to the deteriorating market conditions and its cost reduction initiatives launched in 2007, focused largely on restructuring its operations. Those efforts have kept the Company ahead of the overall market developments.

"Chrysler's negative product mix, largely driven by trucks and SUVs, was off-set in the first half with a positive mix which includes the effects from substantially reduced fleet sales; the effects of new products -- the all-new Chrysler and Dodge minivans, Dodge Journey and Jeep Liberty and the elimination of unprofitable models (Chrysler PT Cruiser Convertible, Pacifica and Crossfire and the Dodge Magnum)."

* Voluntary Employee Benefits Association

SOURCE Chrysler LLC