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April 14, 2004
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This Week:

• All-New 2005 Jeep® Grand Cherokee: The Next Generation

• Jaguar Introduces Its Latest Concept Vehicle - The Concept Eight - At The 2005 New York Auto Show

• American Suzuki Extends Its Competitive Edge With New York Auto Show Launch of Forenza Wagon

• An Audi for the Year 2035: In 'I, ROBOT' Will Smith Races in an Audi RSQ Sports Coupe

• Mercedes-Benz Production CLS500 Unveiled in New York

• Volkswagen Introduces Most Fuel Efficient Family Car in Today's U.S. Market - Passat TDI Gets 38 mpg

• Lexus Unveils Luxury Sports Coupe Concept Third in a Series that Reflects Company's New Design Direction

• BMW of North America, LLC Purchases 45 Acres Of Woodcliff Lake Property For Expansion Of US Headquarters Campus

• Kia's All-New 2005 Spectra5 Makes U.S. Debut in New York

• New 2005 Model Year Bentley Arnage

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BMW of North America, LLC Purchases 45 Acres Of Woodcliff Lake Property For Expansion Of US Headquarters Campus

"BMW 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 in the midst of our biggest new product offensive ever, poised for more growth in the years ahead.

Our dealerships across the US invested about $300 million in 2003, following $300 million in the three previous years combined," explained Tom Purves, chairman and CEO of BMW (US) Holding Corp. "We've expanded or added several facilities across the country in recent years and this acquisition is the next step in our growth strategy.

BMW moved into its current corporate headquarters address at 300 Chestnut Ridge Road in 1988.

The seller, Ingersoll Rand, is a global leader in air and electric power tools, material handling equipment, fluid handling products and dispensing systems, and has had its corporate headquarters in Woodcliff Lake, New Jersey, since 1972.

BMW plans to renovate the 130,000-square-foot building, including upgrades for energy efficiency. Once work is complete, it will begin to move employees into the new building. Currently, about 700 BMW employees are located in one of three offices in the Woodcliff Lake vicinity.

BMW of North America, LLC has nearly 2,000 employees in North America. In total, BMW Group employs about 7,200 people through its various entities, including nearly 4,700 people in Greer, South Carolina, home of BMW Manufacturing Co., LLC which builds BMW Z4 Roadsters and X5 Sports Activity Vehicles for sale around the world. BMW Financial Services employs approximately 500 people in the US with the majority of its workforce in Dublin, Ohio.

(April 8, 2004)