SECURITIES AND EXCHANGE COMMISSION
                                   Washington, D.C.

          LITIGATION RELEASE NO.  16015 / January 4, 1999

          SECURITIES  AND  EXCHANGE  COMMISSION v. DARRYL M. HOLZMAN et al.
          (United States District Court  for  the District of Nevada, Civil
          Action No. CV-S-99-00001-LDG (RJJ)

               The Securities and Exchange Commission  today  announced the
          filing  of  a  settled  complaint  for  insider  trading  in  the
          securities of Chrysler Corporation against Darryl M. Holzman  and
          Christine   McKiernan,  residents  of  Las  Vegas,  Nevada.   The
          complaint also  names  Ethel  Holzman,  of  Henderson, Nevada, as
          relief defendant for the illegal insider trading  profits  of her
          deceased  husband, Herbert Holzman.  The complaint, filed in  the
          U.S. District  Court  for  the  District  of Nevada, alleges that
          McKiernan, a former executive assistant to  a  senior  officer of
          MGM  Grand,  Inc.  and  Tracinda  Corporation,  tipped her former
          father-in-law,  Herbert  Holzman, and her former husband,  Darryl
          Holzman, to Tracinda's plans  to make a tender offer for Chrysler
          and to other confidential information.  Tracinda  was  Chrysler's
          largest  shareholder  at  the  time.   Herbert and Darryl Holzman
          purchased Chrysler securities before the  public  announcement of
          Tracinda's  tender  offer  plans.   The  defendants' tipping  and
          trading resulted in illicit profits of over $119,000 and violated
          Sections 10(b) and 14(e) of Securities Exchange  Act  of 1934 and
          Rules 10b-5 and 14e-3 thereunder.

               According  to the complaint, in November 1994, by virtue  of
          her  employment,  McKiernan  learned  of  confidential  plans  by
          Tracinda  to send a  letter  to  Chrysler’s  Board  of  Directors
          urging,  among   other  things,  a  dividend  increase,  a  stock
          repurchase program and a stock split.  McKiernan told her father-
          in-law, Herbert Holzman,  about the proposed letter and he bought
          2,000 shares of Chrysler stock  prior to the public disclosure of
          the letter on November 14, 1994.  Herbert Holzman sold his shares
          after public announcement of the  letter,  realizing  a profit of
          $7,460.

               The complaint further alleges that in April 1995,  McKiernan
          learned of confidential plans by Tracinda to make a tender  offer
          for  Chrysler  at  a substantial premium to Chrysler's then share
          price.  McKiernan again  told  her  father-in-law  of  Tracinda's
          confidential  plans  and  she  told  her  husband, Darryl, either
          directly or indirectly through her father-in-law.  Darryl Holzman
          then bought 60 Chrysler call options and Herbert  Holzman  bought
          210  Chrysler call options.  Following Tracinda's April 12, 1995,
          public  announcement  of  its  intent  to make a tender offer for
          Chrysler, Darryl and Herbert Holzman sold  their call options for
          a  profit  of  $45,700 and $68,350 respectively.   The  following
          year, Herbert Holzman  passed  away,  leaving most of his illicit
          profits  in brokerage accounts in the name  of  his  wife,  Ethel
          Holzman.

               Prior  to  the  filing  of  the action, McKiernan and Darryl
          Holzman consented, without admitting  or  denying the allegations
          of  the  complaint,  to the entry of final judgments  permanently
          enjoining them from violating  Sections  10(b)  and  14(e) of the
          Exchange  Act  and Rules 10b-5 and 14e-3 thereunder.  Payment  of
          disgorgement and  a  penalty  by McKiernan and Darryl Holzman was
          waived,  based on their demonstrated  inability  to  pay.   Ethel
          Holzman  also   consented,   without  admitting  or  denying  the
          allegations of the complaint,  to  the  entry of a final judgment
          ordering  her  to disgorge $50,000 representing  gains  from  the
          illegal conduct of Herbert Holzman.