AUBURN HILLS, Mich., Jan. 11 /PRNewswire/ -- Chrysler LLC and Nissan
Motor Co., Ltd., today announced an agreement for Nissan to supply Chrysler
with a new car for limited distribution in South America. Based on the
Nissan Versa sedan, the new car will be supplied to Chrysler on an Original
Equipment Manufacture (OEM) basis in 2009.

The OEM supply agreement is the second product exchange between the two
corporations, with Nissan affiliate JATCO already supplying Chrysler with
transmissions since 2004.

"This kind of tactical partnership allows us to maximize product
offerings yet minimize costly investments -- such as new plant
infrastructure, tooling and R&D," said Chrysler LLC President and Vice
Chairman Tom LaSorda. "This partnership will give Chrysler nearly immediate
access to vehicle segments in which we do not currently compete."

"Nissan has a successful track-record of win-win product exchanges and
we are pleased to be entering into this second agreement with Chrysler,"
said Carlos Tavares, Executive Vice President, Nissan Motor Company.

The two companies have also agreed to maintain an open dialogue to
explore further product-sharing opportunities.

Chrysler LLC, headquartered in Auburn Hills, Mich., produces Chrysler,
Jeep(R), Dodge and Mopar(R) brand vehicles and products. Its product lineup
features some of the world's most recognizable vehicles, including the
Chrysler 300, Jeep Wrangler and Dodge Charger. The Chrysler Foundation --
the primary source of charitable grants made by Chrysler -- annually
supports hundreds of charitable organizations with an emphasis on community
growth and enrichment, education, arts and culture, public policy, youth
development and disaster relief programs throughout the United States and,
increasingly, the world. Chrysler is a unit of Cerberus Capital Management.

Nissan Motor Company generated global net revenues of 10.468 trillion
yen in 2006. Nissan is present in all major global auto markets selling a
comprehensive range of cars, pickup trucks, SUVs and light commercial
vehicles under the Nissan and Infiniti brands. Nissan employs over 180,000
people worldwide.

Under the Nissan Value-Up business plan, the company continues to focus
on long-term sustainable and profitable growth driven by three commitments:



-- To maintain top level of operating profit margin among global
automakers
-- To achieve global sales of 4.2 million units in 2009
-- 20% return on invested capital on average over the course of the plan


SOURCE Chrysler LLC