Daimler Financial Services launches business in the United Arab Emirates

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- Joint venture with Mercedes-Benz importers in Abu Dhabi and
Dubai - the Al Fahim Group and Gargash Enterprises
- The new companies Mercedes-Benz Finance Middle East and
Mercedes-Benz Leasing Middle East offer financial services for
passenger cars and commercial vehicles
- Medium-term target: Contract Volume of EUR 300 million

Daimler Financial Services AG, headquartered in Berlin, is
expanding its global presence to include the Middle East growth
region. Toward this end, the company announced the official opening
of Mercedes-Benz Finance Middle East and Mercedes-Benz Leasing Middle
East on October 7, 2009 at a press conference in Abu Dhabi, United
Arab Emirates.

Both new companies are part of a joint venture between Daimler
Financial Services and the Al Fahim Group, owners of Emirates Motor
Company, the authorized Mercedes-Benz distributor in the Abu Dhabi
Emirate as well as Gargash Enterprises, the official distributor of
Mercedes-Benz Cars in Dubai, Sharjah and the Northern Emirates.

The new companies are headquartered in Dubai and offer loans and
leasing to private and business customers for new and pre-owned
passenger cars and commercial vehicles, including a shari'a compliant
Islamic finance product. This enables Mercedes-Benz dealers in the
United Arab Emirates to now provide their customers with the complete
range of financial services.

"Our presence in the United Arab Emirates is of high strategic
importance for Daimler Financial Services," said Daimler Financial
Services CEO Juergen Walker at a press conference in Abu Dhabi. "It
makes us the first automaker to have its own finance and leasing
company in the United Arab Emirates. Once we have successfully
established our business operations here, in the mid-term we will
decide about offering financial services in other Middle Eastern
markets as well."

The United Arab Emirates represent the most important passenger
car market in the region Middle East for Mercedes-Benz. In 2008,
Mercedes-Benz sold 7,800 passenger cars and 3,100 commercial vehicles
in Abu Dhabi, Dubai, Sharjah and the Northern Emirates.

Mr. Andreas Ernst, Managing Director of Mercedes-Benz Finance and
Mercedes-Benz Leasing, said that the medium-term goal of the new
companies was to achieve a contract volume of more than EUR 300
million in the United Arab Emirates in three to five years: "To meet
this target, we will be offering a comprehensive range of financial
services from a single source to meet the needs of private or
business customers. And we will support our dealerships with an
electronic point-of-sale system that will result in faster loan
decisions and a customer-friendly process."

Mr. Rashed A. J. Al Fahim, Chairman of the Al Fahim Group,
welcomed the formation of the joint venture and looked forward to a
positive future: "We are confident and expect stronger Mercedes-Benz
sales. The start of our jointly owned financial companies will
further boost the attractiveness of the Mercedes-Benz brand in Abu
Dhabi."

Mr. Abdul Jabbar Gargash, Executive Director of Gargash
Enterprises looked forward to the start of the new businesses: "For
the first time, we can now provide our Mercedes-Benz customers in
Dubai, Sharjah and the Northern Emirates with a broad range of
financial services products that make owning a new or used
Mercedes-Benz the easiest it has ever been."

With its new financial services in the United Arab Emirates,
Daimler Financial Services AG has further expanded its global
presence. The Daimler Group's international provider of financial
services employs about 6,800 people and is represented in more than
40 countries. The company currently finances or leases one third of
all vehicles produced by Daimler worldwide and manages a contract
volume of EUR 60 billion.

Emirates Motor Company

As the flagship company of the Al Fahim Group, Emirates Motor
Company (EMC) symbolizes the phenomenal growth and success that the
Group has achieved. As one of the Middle East's leading distributors
of Mercedes-Benz, EMC is synonymous with immaculate quality in true
Mercedes-Benz tradition. EMC has been the general distributor for
Mercedes-Benz in Abu Dhabi since 1962. From the beginning, dedicated
customer service has played a major role in the company's success.
EMC is also the first Mercedes-Benz distributor in the Middle East to
be awarded the ISO 9002 certification. EMC markets, distributes and
services all Mercedes-Benz vehicles from luxury saloons to the
largest trucks and provides qualified service with the constant
availability of genuine parts. Operations in Abu Dhabi are carried
out from purpose-built premises with a well-integrated network of
showrooms, offices, parts depots and workshop.

Gargash Enterprises

Gargash Enterprises has been the authorized Mercedes-Benz
distributor in Dubai since 1958 and understands the special
requirements for operating in the U.A.E. Customers are guaranteed not
just-premium-quality products, but also top-notch after sales
services. The company employs over 1,000 staff members and has become
one of the largest premium brands in the U.A.E. Gargash Enterprises
is a full-service Mercedes-Benz operation with five dealerships
across Dubai, Sharjah and Northern Emirates, all professionally
managed to satisfy the needs of the consumer. Gargash Enterprises
also delivers a car rental service through its SIXT, which operates
from Dubai International Airport, Sharjah International Airport, and
Ras AL Khaimah. Furthermore, through its Silver Star Rental division,
established in 2006, Gargash Enterprises offers customers highly
acclaimed Mercedes-Benz commercial vehicles on short and long term
rental basis.

Further information is available on the Internet at:

www.daimler-financialservices.com
www.alfahim.com
www.gargash.mercedes-benz.com

Originaltext: Daimler Financial Services AG
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Harald Bertsch
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