Chrysler Group Announces Competitive Pricing for 2002 Jeep(R) Lineup

    AUBURN HILLS, Mich., Aug. 30 After successfully launching
the all-new Jeep(R) Liberty with a starting price well under $20,000, the
Chrysler Group announced today a new pricing strategy for its 2002 Jeep Grand
Cherokee and Jeep Wrangler models.

    The company is reducing Grand Cherokee pricing $2,000 across the board,
while creating a more affordable 4.0-liter Wrangler model.

    "The Jeep brand has always been known for its outstanding capability and
ruggedness, and no other vehicle embodies those characteristics like
Wrangler," said Tom Marinelli, Vice President, Chrysler/Jeep Global Brand
Center, DaimlerChrysler Corporation.  "Grand Cherokee melded this legendary
reputation with a new level of refinement and now Liberty has expanded the
Jeep brand even further.  With a successful cost reduction program, we are
able to pass along some savings on these vehicles to our customers.  We
believe these actions will drive traffic into the showroom and allow our
dealers to pair outstanding product with equally outstanding value."

    Jeep Grand Cherokee remains at the forefront of the segment with
competitive pricing and a new premium model for 2002.  All models will be
approximately $2,000 MSRP less than the 2001 exit pricing, making the all-new
Jeep Grand Cherokee Overland 4x4 model pricing where the top-of-the-line
Limited used to be.  For $37,430 (including destination) the new Overland
model offers major equipment upgrades over the Limited, including as standard
equipment the all-new 4.7-liter high output engine, side air bags, rain
sensitive wipers and real wood interior accents, making it the most powerful
and refined Jeep Grand Cherokee yet.

    Rolling the 2001 model $2,000 cash rebates into the 2002 model pricing
allows Jeep vehicles better Internet positioning versus the competition.
Customers have access to the true transaction price without seeking
incentives.  This pricing action will also allow moderation of the aggressive
incentive programs pursued in the 2001 model year.

    The all-new Jeep Wrangler X model will expand the scope of Wrangler,
attracting a younger buyer in search of affordability as well as power in the
4.0-liter engine.  The X model features the powerful 4.0-liter engine with 190
horsepower and 235 lb.-ft. of torque and cloth seats standard, and will be
available for $18,995 including destination.

    The Jeep Liberty was launched in April 2001 as the first all-new Jeep
vehicle in nearly ten years.  In total, the Chrysler Group has received 85,000
orders for this newest Jeep offering unparalleled ruggedness and refinement.

                           2002 Model Year Pricing

    Jeep                                 MSRP     Dest
    Wrangler SE                        $15,230    $585
    Wrangler X                         $18,410    $585
    Wrangler Sport                     $20,080    $585
    Wrangler Sahara                    $23,450    $585
    Liberty Sport 2WD                  $16,450    $585
    Liberty Sport 4WD                  $17,960    $585
    Liberty Limited 2WD                $21,210    $585
    Liberty Limited 4WD                $22,720    $585
    Grand Cherokee Laredo 2WD          $25,425    $600
    Grand Cherokee Laredo 4WD          $27,395    $600
    Grand Cherokee Limited 2WD         $30,270    $600
    Grand Cherokee Limited 4WD         $32,700    $600
    Grand Cherokee Overland 4WD        $36,830    $600