Chrysler LLC Confirms the United Auto Workers Ratification of the 2007 National Labor Agreement

Agreement includes independent retiree health care trust

Future competitiveness heightened by constructive agreement

AUBURN HILLS, Mich., Oct. 27 -- Chrysler LLC today confirmed a new Chrysler-UAW 2007 national labor agreement, in response to the UAW's ratification results. Chrysler and the UAW reached a tentative agreement on Wednesday, October 10, after three months of bargaining.

"We are pleased that our UAW employees recognize that the new agreement meets the needs of the company and its employees by providing a framework to improve our long-term manufacturing competitiveness," said Tom LaSorda, Vice Chairman and President, Chrysler LLC.

Chrysler LLC, headquartered in Auburn Hills, Mich., produces Chrysler, Jeep(R), Dodge and Mopar(R) brand vehicles and products. Total sales worldwide in 2006 were 2.7 million vehicles. Sales outside of North America were the highest in a decade with an increase of 15 percent over 2005. On the heels of the company's record product launch year (Chrysler launched 10 all- new vehicles in 2006), the company extended that streak with eight all-new products in 2007. Its produce lineup features some of the world's most recognizable vehicles, including the Chrysler 300, Jeep Commander and Dodge Charger. Chrysler is a unit of Cerberus Capital Management.