MBNA Becomes Mercedes-Benz USA, Inc.

MONTVALE, NJ -- Effective April 19, 1999, Mercedes-Benz of North America, Inc. (MBNA) will officially change its name to Mercedes-Benz USA, Inc. (MBUSA).

According to Mike Jackson, president and CEO of Mercedes-Benz USA, the name change -- which was announced earlier this year -- is intended to more accurately reflect the scope of the company's responsibilities while at the same time signaling the massive transformation that has occurred over the past decade.

"The company has changed so dramatically over the past few years in terms of the diversity and innovation of our product offering, a more strategic retail network with record profitability, a new face and attitude by virtue of our marketing communications and an unwavering determination to provide industry-leading customer care," said Jackson. "We're not the same company we were at the start of the decade. Our goal is to be the premier marketing company in the United States and it's appropriate that we now christen this ambitious undertaking with a new name."

Since its inception in 1965, the U.S. marketing arm has been the sole importer and distributor of Mercedes-Benz cars and light trucks in the U.S. Mercedes-Benz sold a total of 170,245 vehicles in the U.S. in 1998 -- an all-time sales record for the company --and expects to top that volume this year.

Mercedes-Benz USA, Inc., a DaimlerChrysler company, is headquartered in Montvale, New Jersey and employs approximately 1,500 people in 20 locations across the U.S.