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DaimlerChrysler Group to Sell Its Shares in the Aircraft Leasing Company debis AirFinance

• A further milestone in the Group's efforts to concentrate on the automotive business

• Long-term growth prospects secured for debis AirFinance thanks to strong partners

Stuttgart/Berlin - DaimlerChrysler, Bayerische Landesbank, Dresdner Bank, DZ BANK and HypoVereinsbank as shareholders of debis AirFinance have announced their intention to sell their shares to the American investor Cerberus Capital Management. In debis AirFinance, Cerberus will be acquiring a global leader and a highly successful supplier in the aircraft leasing and fleet management sector. Its portfolio encompasses 141 modern airplanes, mainly Airbus. debis AirFinance has also order positions for new Airbus A320 family aircraft. In addition, the company manages 108 planes on behalf of third-party owners. Cerberus will take over the company's entire business, including all of its liabilities. The transaction remains subject to certain closing conditions.

By taking this step, the DaimlerChrysler Group is continuing to implement its strategy of concentrating on its core automotive business and associated financial services. "Following a period of consolidation, the aviation industry is now recovering," says Bodo Uebber, Member of the Board of Management of DaimlerChrysler, responsible for Finance, Controlling and Financial Services. "The growing demand for state-of-the-art aircraft is having a beneficial effect on developments in the aircraft leasing business. That's why this is the right time for us to sell our shares."