BMW FINANCIAL SERVICES BREAKS GROUND FOR NEW LOCATION

Move to Larger Hilliard Facility on Schedule for 2006

Dublin, OH - October 14, 2004... BMW executives from Germany and the U.S.
joined officials from Hilliard today in breaking ground on a new multi-million
dollar international customer service center. The new facility, on the
proposed Britton Parkway extension, is designed to meet the company's expanding
business needs, including new jobs forecast for the next few years. It is
scheduled to open in the spring of 2006.

The groundbreaking is yet another indicator of BMW Financial Services' fast
track of growth. In addition to its prosperous financial portfolio of more than
$15 billion in managed assets, BMW Financial Services has enjoyed a 190 percent
increase in managed assets and a 123 percent increase of on-site employment
since its inception in Dublin in 1996. The move to Hilliard will accommodate
its expanding workforce of 750 employees and vendors into the future.

"We are very excited to see this project moving forward and wish to express our
appreciation to all those who have made it happen," said John Christman, Chief
Executive Officer of BMW Financial Services NA, LLC. "We look forward to
continued growth in the years ahead as part of the Hilliard business
community."

BMW Financial Services prides itself on being an excellent community partner
and employer. In addition to being named one of the 10 "Best Medium-sized
Companies to Work for in America" by the Great Places to Work Institute (GPTWI)
and the Society for Human Resource Management (SHRM), BMW Financial Services
has received a number of other honors during the past year commending its
workplace initiatives.

BMW Financial Services also leads the industry in dealer satisfaction,
receiving two top awards for prime retail credit and retail leasing programs,
according to the J.D. Power and Associates 2004 Dealer Financing Satisfaction
Study.

The company also values community involvement, and has officially made it part
of the job through a program encouraging community service by offering all
employees one paid day per year for volunteering.

"Hilliard prides itself on being a quality, business-friendly municipality,
poised for economic development. BMW's move here underscores our philosophy of
attracting businesses that help us to grow and prosper. We extend a welcome to
the company's employees and families who will further help to invigorate our
city and enhance the wonderful quality of like enjoyed by both our residents
and businesses," said Hilliard Mayor Don Schonhardt.

The BMW Group is experiencing a record rise in sales; in September, sales of
BMW, MINI and Rolls-Royce vehicles rose 15 percent. In 2003, BMW's strongest
growth worldwide was in the Americas region. BMW Financial Services' planned
expansion will enable the company to better support this growth and provide an
array of lending and leasing services to its dealer network and BMW customers.

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.

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