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MERCEDES-BENZ CREDIT CORP. ANNOUNCES RECORD REVENUES, OVER $1 BILLION FOR 1992

 NORWALK, Conn., April 22 /PRNewswire/ -- Mercedes-Benz Credit Corporation (MBCC), the financing company for the Daimler-Benz Group in North America, today announced record revenues for 1992, exceeding $1 billion for the first time in company history.
 At year-end, MBCC's total assets amounted to $6.1 billion, an increase of 26 percent over 1991. In addition, the company had a 48 percent increase in total acquisitions (new business) over the prior year, amounting to approximately $3 billion.
 In 1992, automobile acquisitions increased 51 percent over the previous year. In the truck market, acquisitions increased 19 percent as Freightliner Corporation (Mercedes-Benz AG's commercial vehicle manufacturer) became number one in the U.S. Class 8 truck market. In the non-automotive segment serviced by MBCC's new subsidiary, debis Financial Services, Inc., '92 total acquisitions were $132 million, an increase of over 250 percent from last year.
 Service Emphasis
 MBCC credits its sizable growth to competitive financing and leasing rates along with customer-driven programs, including the "Win-Win" lease developed jointly with Mercedes-Benz of North America. In the past five years, MBCC's customer base in car, truck and non-automotive markets has tripled to 160,000.
 Georg Bauer, President and CEO of MBCC, attributes record growth in revenues to significant productivity gains, proficient credit risk management, creative funding strategies, and close cooperation with Daimler-Benz sister companies in North America.
 Paul Payne, Executive Vice President and COO of MBCC added, "In `92 our attractive programs coupled with our thorough understanding of Daimler-Benz products, motivated more customers than ever to choose MBCC as their financing and leasing source. By the end of `93, we will provide even better service to our customers by opening a customer service center fully dedicated to the automobile portfolio. In addition, we are separating our car and truck businesses to provide specialized attention in each unique market."
 New and Growing Subsidiaries
 In January '92, debis Financial Services, Inc. (dFSI) was incorporated as a wholly owned subsidiary of MBCC. The new company supplies tailor-made financing and leasing programs for non-automotive Daimler-Benz products, e.g. aircraft equipment, marine industry products and medical equipment. In 1992, this new subsidiary had total assets of $160 million, an increase of over 200 percent from the previous year.
 In early '93, MBCC established another wholly owned subsidiary, Mercedes Benz Leasing Mexico, S.A. de C.V. (MBLM) headquartered in Toluca, Mexico. The new company supports Mercedes-Benz Mexico by providing commercial vehicle financing solutions for Mercedes-Benz and Freightliner products in the Mexican truck and bus markets. The company expects this initiative will prove to be an important strategic move especially after the North American free Trade Agreement (NAFTA) is enacted.
 MBCC subsidiary, Mercedes-Benz Credit of Canada Inc., (MBCCI), continued to show an upward trend in 1992. At year-end, MBCCI had total assets of $215 million. In addition, the company's total acquisitions increased 35 percent over the prior year to $115 million.
 Future Focus on Customer Service
 Georg Bauer concluded, "Because of our tremendous growth over the last two years, we conducted an organizational study in 1992 called MBCC 2000+. We developed methods to service greater numbers of customers and to be more flexible and responsive to their ever-changing needs. Our business enhancements will position us to continue serving as the number one financing and leasing source for dealers and customers of Daimler- Benz products in North America."
 Mercedes-Benz Credit Corporation is the financing and leasing company for the Daimler-Benz Group in North America. Headquartered in Norwalk, Conn., the company is a member of Daimler-Benz InterServices (debis) AG and a wholly owned subsidiary of Daimler-Benz North America Corporation. It has offices in Portland, Oregon; Chicago, Atlanta, Wilmington, Dallas, Boston, Toronto, Montreal, and Toluca, Mexico. MBCC has approximately 450 employees in North America.
 -0- 4/22/93
 /CONTACT: R. Douglas Rozman of Mercedes-Benz Credit Corporation, 203-845-7522; or Don Levin or Judi Estabrook of Levin Public Relations, 914-993-0900, or night, 914-834-5919 for Mercedes-Benz/


CO: Mercedes-Benz Credit Corporation ST: Connecticut IN: AUT SU: ERN

LR-OS -- NY001 -- 9122 04/22/93 07:33 EDT
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Date:Apr 22, 1993
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