STRONG GROWTH AND EXPANDING BUSINESS SPUR BMW FINANCIAL SERVICES' RELOCATION PLANS

DUBLIN, OH - JUNE 11, 2004... With long range growth plans pointing toward
continued business expansion, BMW Financial Services NA, LLC has announced that it will build a new international customer service center in neighboring
Hilliard, Ohio. The move, which is contingent upon approval of city and state
economic development incentive packages and final negotiations with the
developer, will allow the company to grow to meet the needs of its customers as
BMW expands its business in North and Latin America.

With a financial portfolio totaling more than $15 billion in managed assets,
and an on-site workforce of about 750 people (employees and vendors combined),
the remarkable growth of the financial services arm of BMW of North America has
exceeded the capacity of its existing facility in Dublin.

"An attractive proposal from The City of Hilliard and Duke Realty provides the
best overall value, and also allows BMW Financial Services to remain a part of
the greater Columbus community," said John Christman, Chief Executive Offer of
BMW Financial Services NA, LLC. "The selection process began with a broad
search, and included communities where other BMW business units are
headquartered as well as the town of Dublin. We have been happy there for the
past nine years and remaining in Dublin was one of our options."

"I am pleased BMW Financial Services has chosen Ohio as the location to expand
its financial services operations," said Governor Bob Taft. "This is great news
for our workers, and shows how we are continuing to aggressively pursue good
high-paying jobs for Ohioans."

"We look forward to welcoming all of the BMW employees who will come and
contribute to the energy and quality of life we offer," said Hilliard Mayor Don
Schonhardt.

"BMW Financial Services values community involvement and in 2002, we made it
part of the job when we launched a program to encourage community service by
offering all of our employees one paid day for volunteering," Christman
said. "A committee of volunteers directs our contributions fund, which
includes support of local programs such as Christmas in April, Big Brothers and
Big Sisters, Metro Parks and Children's Hospital.? In addition, the company
donated two BMW motorcycles to the Dublin police force several years ago.

The BMW Group has enjoyed successes in the US with steady sales increases since
1991 and now BMW is a leading player in the luxury automotive field in the
US. "We are introducing exciting new products to our customers and are poised
for more growth in the years ahead," Christman explained. "BMW Financial
Services has experienced eleven years of consecutive growth and we expect that
to continue."

Since the construction of its original building on Parkcenter Circle in 1996,
BMW Financial Services has experienced an overall increase in managed assets of
190 percent and a rise in on-site employment of 123 percent.

"Our new building is nearly double the size of our existing space, enabling us
to grow with the BMW Group, support our dealer network and continue to offer
world-class customer service to BMW drivers," said Christman. Last year, the
strongest growth in the BMW system worldwide was seen in the Americas region.

Once final approval of the relocation plans is received, construction is
expected to begin later this year with completion in the first quarter of
2006. The developer selected for the project is Duke Realty.

BMW Financial Services
BMW Financial Services NA, LLC was established in 1992 as a captive finance
company to support the sales and marketing efforts of the BMW Group in North
and Latin America. With more than $15 billion in managed assets and nearly
500,000 customers, BMW FS leases or finances more than half of the new BMW
vehicles sold in the U.S. BMW FS employs more than 700 people, most of whom
are located in the Dublin, Ohio Customer Service Center.

BMW Financial Services provides a wide range of leasing, retail, commercial,
banking and insurance products tailored to meet the needs of BMW customers and
dealers in the United States, Canada, Mexico, Argentina and Brazil. All lease
servicing, including credit underwriting, funding, customer service, title
administration, lease-end and collections are handled at the Dublin customer
service center. A growing portfolio of banking, credit card and insurance
offerings is also available through the BMW Bank of North America, based in
Salt Lake City.