Statement by Cerberus Capital Management

April 30, 2009

NEW YORK, April 30 /PRNewswire/ — Cerberus Capital Management, L.P. (“Cerberus”) issued the following statement today, attributable to Mark Neporent, Cerberus Chief Operating Officer and General Counsel.

“Cerberus has worked diligently with the U.S. Department of Treasury, Mr. Bloom, Mr. Rattner and the other members of the President’s Auto Task Force, Fiat, the UAW, the Lenders and all major constituencies to facilitate the restructuring of Chrysler, LLC. We appreciate the support for Chrysler LLC reflected in the tireless work of its management team led by Bob Nardelli, Tom LaSorda and Jim Press, and the efforts of The Treasury, the Auto Task Force and all stakeholders to preserve and enhance the viability of Chrysler LLC. We are optimistic that Chrysler’s Chapter 11 case will lead to the expeditious and efficient completion of the restructuring that has been agreed upon by the major stakeholders, and we will continue to do all that we can do to support a successful outcome.”

About Cerberus

Established in 1992, Cerberus Capital Management, L.P., along with its affiliates, is one of the world’s leading private investment firms with approximately $24 billion under management in funds and accounts. Through its team of investment and operations professionals, Cerberus specializes in providing both financial resources and operational expertise to help transform undervalued companies into industry leaders for long-term success and value creation. Cerberus is headquartered in New York City, with affiliate and/or advisory offices in the United States, Europe, the Middle East and Asia. More information on Cerberus can be found at www.cerberuscapital.com.

    Media Contacts:

    Peter Duda:          +1 (212) 445-8213
    Hallie Bozzi:        +1 (212) 445-8276
    Cerberus Media Line: +1 (212) 891-1558

SOURCE Cerberus Capital Management, L.P.

Source: newswire

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