BREAKING NEWS-Chrysler Statement Re Tentative Agreement With CAW

Fri, 24 Apr 2009

Attributed to Tom LaSorda, Vice Chairman and President:

"We are extremely grateful to the CAW leadership and to its hard-working members for their openness in this challenging environment to create a new strategy that will lead this company on a path to success. We also want to recognize the Canadian Federal and Ontario governments for their energy and efforts in helping to move this great Company forward."

Attributed to Al Iacobelli, Chief Bargainer and Vice President – Employee Relations:

"We deeply appreciate the CAW leadership's dedication and commitment to the process by reaching this tentative agreement. The negotiation process is never easy, especially in these historically challenging times.

The forthright discussions and final decisions made by the CAW not only benefit the Canadian represented employees, but help to ensure the Company's future competitiveness. The tentative agreement also helps move the Company one step closer to a partnership with Fiat SpA.

The CAW leadership worked around the clock for its membership to hammer out the details during an extremely complex negotiation. Chrysler management values the hard work of its CAW workforce and appreciates the great lengths the CAW management went to in order to pave the way for the Company's future in Canada."