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A message from Bob Nardelli

Posted Monday, Apr 27, 2009, 7:10 am in Employee News

Dear Employees,

As speculation and media attention during this challenging time for Chrysler increases, we understand that frequent communications is critical to help maintain a clear understanding of the facts of our situation. As we work diligently to finalize our alliance with Fiat and restructure our business by the government’s April 30 deadline, I want to provide you a daily update on our progress, to the maximum extent possible.

Here is a summary of recent developments:

We are pleased that we have reached a new labor agreement with the CAW. Over the weekend, the agreement was ratified by 87% of CAW workers, and we would like to thank our employees for their support.

The CAW agreement was a critical condition for the governments of Canada and the Province of Ontario to certify our restructuring plan and provide an additional loan to Chrysler. We expect to meet all requirements to qualify for this assistance.

We are also pleased that we have reached a tentative agreement with the leadership of the UAW. This provisional agreement provides the framework needed to ensure manufacturing competitiveness and helps to meet the guidelines set forth by the U. S. Treasury Department.

The details will be released following the completion of the UAW ratification process.

Daimler AG has previously announced its intention to divest its ownership share in Chrysler. Cerberus Capital Management and Daimler are working through this process, and we are confident that this will be resolved.

Let me assure you that your entire leadership team is totally focused on completing the necessary transactions and qualifying for the appropriate financial support of the U.S. and Canadian governments. We are pleased with the progress made with both the CAW and the UAW, and as we work with the other constituents, we will continue to keep you updated.

We appreciate your continued dedication and the support you’ve shown during these demanding times. The emails of encouragement that you have sent us are especially appreciated. Know that as we begin this very important week, our number one priority is to preserve Chrysler and the livelihood of the thousands of people who depend on its success.

Thank you for all you have done and continue to do as we work together to revitalize this great company and set it on a successful path.

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