Chase Automotive Finance to Expand Nissan Relationship

Business Wire, June 16, 2000

Business Editors

NEW YORK--(BUSINESS WIRE)--June 16, 2000

The Chase Manhattan Bank (NYSE: CMB) announced today that it will be expanding its lease subvention relationship with Nissan North America to include Nissan's Southwest and Northwest regions. Since late 1998, Chase Auto Finance has been a lease provider for Nissan supporting the Northeast, Mid-Atlantic, and Southeast regions as well as the Eastern region for Infiniti. Through this dedicated relationship, Chase offers Nissan the benefits of optimal pricing, greater efficiencies and marketing flexibility.

The extension of the Chase-Nissan relationship is part of Chase Auto Finance's strategy to grow its business with both manufacturers and dealer groups. Chase Auto Finance's National Accounts Group is responsible for developing strategic relationships with auto manufacturers and large dealer groups.

Chase is among the largest bank originators of auto loans and leases in the U.S. Chase originates nearly $1 billion in auto loans and leases monthly and has more than $23 billion in receivables in its auto finance portfolio. Chase maintains a network of approximately 8,400 auto dealers nationwide.

"We are pleased to expand our relationship with Nissan North America," said Joe Scimone, National Sales and Marketing Executive for Chase Manhattan Automotive Finance Corporation. "This important relationship enhances Chase's position as a leader in a consolidating industry, and echoes our commitment to providing innovative operational strategies and quality relationship service."

The Chase Manhattan Corporation (www.chase.com) is a premier global financial services firm with assets in excess of $390 billion. Chase combines the best of commercial and investment banking, offers world-class information and transaction processing services, and has a leading U.S. consumer franchise that serves 32 million customers. Through its newly formed business unit Chase.com, Chase is successfully creating innovative business models for the New Economy. Chase, with offices in more than 45 countries, has a presence in all of the principal financial centers around the world.