BMW Group Canada announces new President and CEO

August 25, 2004, Whitby, ON...BMW Group Canada announced today that Mr. Lindsay
Duffield (47) has been named President and CEO. Mr. Duffield, currently Vice
President, Operations for BMW Financial Services, Americas Region based out of
Dublin, Ohio assumes his new role effective September 1, 2004. He succeeds
Hendrik von Kuenheim, who leaves BMW Group Canada to become President of BMW
Group Spain.

Mr. Duffield, a native of Guelph, Ontario, becomes the first Canadian-born
President of BMW Group Canada. He joined BMW Financial Services in 1996 as
Vice-President, U.S. Sales and Marketing. He has held his current position
since 2000 with responsibility for Credit and Contract Processing, Collections,
Customer Care, Process Improvement and Commercial Lending. Prior to joining
BMW Group Mr. Duffield spent three years as Director of Marketing and
Communications at Mercedes-Benz Credit Corporation in Norwalk, Connecticut and
fourteen years with IBM in Canada and the U.S. in various sales, marketing,
operations and financial services positions.

"My family is thrilled to be returning to Canada," says Duffield. "BMW Group
Canada is a leader in the Canadian automotive industry and I'm really looking
forward to working closely with all of the fine BMW Group Associates and
Retailers. Hendrik and his team certainly compiled an impressive track record
of success over the past six years. Hopefully, by continuing to focus on
delivering the best customer experience in the premium automotive and
motorcycle markets, we can continue this momentum."

Mr. Duffield holds an MBA from the University of Toronto and an Honours
Bachelor of Business Administration degree from Wilfrid Laurier University in
Waterloo, Ontario. He will be based out of the BMW Group Canada head office in
Whitby, Ontario. He is joined by his wife Ruth and their two hockey loving
sons Jordan and Christian.

BMW Group Canada, based in Whitby, Ontario, is a wholly-owned subsidiary of BMW
AG and is responsible for the distribution of BMW luxury performance
automobiles, Sports Activity Vehicles, Motorcycles, and MINI. BMW Group
Financial Services Canada is a division of BMW Group Canada and offers retail
financing and leasing programs on new and pre-owned BMW and MINI automobiles,
as well as retail financing for new and pre-owned BMW Motorcycles. A total
network of 36 BMW automobile retail centres, 18 BMW motorcycle retailers, and
19 MINI retailers represents the BMW Group across the country.

-30-