BMW Group Consolidates Presence In Region With Opening Of Asia-Pacific Treasury Centre In Singapore

Singapore. August 28, 2006 - The BMW Group has established a regional
treasury centre in Singapore to consolidate its presence in the growth
markets of the Asia-Pacific. This centre, which has just begun
operations, will cover all BMW Group subsidiaries within the
Asia-Pacific, marking Group treasury representation in all important
financial centres worldwide. Other major treasury centres of the Group
are located in Europe and North America. The opening of the
Asia-Pacific Treasury Centre in Singapore will also enable the Group to
achieve economies of scale from optimised processes in treasury
management, said the Group Treasurer, Dr Frank Stenner. "The
treasury centre's aim is to create a single cohesive Asia-Pacific
treasury management solution that will set a strong foundation for the
anticipated high growth of the BMW Group in this region." The
centre's operations will include cash/liquidity management, foreign
exchange management, interest rate risk management, and funding
coordination. Amid the projected growth of BMW Group sales, and
financial services business, this necessitates a focus on foreign
exchange and funding activity. The treasury centre will initially act
on behalf of regional entities, with a medium to long term goal of
centralising all treasury-related activity and risks. The centre also
has the responsibility to co-ordinate all global banking relationships
within the region. Singapore was deemed the best location for the BMW
Group's third global treasury centre for various reasons, including the
fact that the country is already home to BMW Asia's corporate offices.
Additionally, Singapore's excellent business infrastructure, geographic
location, high living standards and family-friendly environment played
important considerations, as did the strong support from the Monetary
Authority of Singapore, Mr Joe Calabro, the Group Head of the Asia
Pacific Treasury Centre added. The new centre is located within BMW
Asia's HarbourFront premises and has commenced operations with a
full-time staff of three. With the increase in responsibilities and
Group car sales, the treasury centre is fortunate to have access to a
highly skilled local workforce.