Daimler Financial Services Launches Business in the United Arab Emirates

ABU DHABI, UAE and BERLIN, October 7 /PRNewswire/ –

– 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 EUR300 million

Picture is available via EPA (European Pressphoto Agency) and can be
downloaded free of charge at:

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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 EUR300 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 EUR60 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:

http://www.daimler-financialservices.com

http://www.alfahim.com

http://www.gargash.mercedes-benz.com

    Contact
    Julian Millward-Hopkins
    Telephone +971-48075-254

    Harald Bertsch
    Telephone +49(0)711-2574-4010

SOURCE Daimler Financial Services AG