STUTTGART, Germany (May 14, 2007) - During a historic day for the German and U.S. automotive manufacturing industries, Governor Mitch Daniels met with DaimlerChrysler Chairman Dr. Dieter Zetsche just as the company announced the sale of most of its interest in Chrylser.  Their meeting at Daimler's world headquarters in Stuttgart, Germany ended a little more than an hour before it was officially announced that Cerberus Capital Management would take over a majority interest in Chrysler Group and related financial services business.

"Through a remarkable stroke of luck, my meeting with Dr. Z. happened on schedule.  It was incredibly gracious of him to go ahead with the meeting on this historic and busy day," said Daniels.  "We had a great chance to discuss Chrysler's future and implications for Indiana. My first impression of the transaction is strongly favorable.  It brings certainty and appears to me, staying power to the company's Indiana operations.  In addition, we discussed the potential large new investment for which the company is considering Indiana, and all signs continue to seem positive." (Chrysler and Getrag are discussing an Indiana transmission plant.)

As the governor was headed back to Frankfurt for a meeting with the influential German Association of the Automotive Manufacturers Industry, others in the state delegation arrived in Stuttgart for an afternoon tour of one of DaimlerChrysler's production plants.

Daniels outlined Indiana's advantages during a discussion with Bernd Gottschalk, president of the German Association of Automotive Manufacturers Industry, and they discussed the changing world market for diesel technology.

"I hope to distinguish Indiana's many competitive advantages, especially the low cost of doing business in our state and our highly skilled workers," said Daniels. "I expect diesel technology to expand dramatically in the United States one of these days. When that happens there will be investment, and I want Indiana to be ready."

Daniels said the organization offered to speak to its members about Indiana and help arrange for possible meetings with automotive suppliers at a later date.

The governor concluded the day at a dinner meeting with several top executives from Schott, including the company's president, Dr. Jannis Kosmas. Schott manufactures and distributes special glass and glass-related systems and has a facility in Vincennes.

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