Granholm Statement on Cerberus Purchase of Chrysler

Contact: Liz Boyd 517-335-6397

May 14, 2007

LANSING - Governor Jennifer M. Granholm today issued the following statement on the purchase of the Chrysler Group by Cerberus Capital Management LP:

"Today's announcement by DaimlerChrysler AG that it will sell the Chrysler Group to Cerberus is a solid announcement for the state of Michigan and Michigan workers.  Chrysler's $1.78 billion investment in facilities in Trenton, Marysville, Sterling Heights and Warren is going forward as announced, and that means jobs for Michigan workers.   I am particularly pleased that this decision is now a matter of record and that Tom LaSorda and his management team can focus their attention making great products here in Michigan."