1
                                                                       EXHIBIT 8


IMMEDIATE RELEASE
CONTACT:  MICHAEL CLAES                            GEORGE SARD
          BURSON MARSTELLER                        SARD VERBINNEN & CO.
          212/614-5236                             212/687-8080

TRACINDA WITHDRAWS OFFER FOR CHRYSLER;
SAYS ITS CHRYSLER STOCK IS NOT FOR SALE

WASSERSTEIN PERELLA RETAINED AS
STRATEGIC ADVISOR TO TRACINDA

        LAS VEGAS, NV, May 31, 1995 - Tracinda Corporation announced today that
it is withdrawing its $55 per share offer for Chrysler Corporation and will
evaluate the full range of available options.  Tracinda reiterated that its
Chrysler shares are not for sale and that its goal of maximizing value for all
Chrysler shareholders remains unchanged.

        "We have been Chrysler's largest shareholder for nearly five years and
remain committed to maximizing value for all shareholders while keeping the
company well-managed, conservatively financed and fully competitive in the U.S.
and abroad," said Alex Yemenidjian, an executive at Tracinda.  "Tracinda's 36
million shares of Chrysler stock are not for sale.  Withdrawing our offer will
permit us to take a fresh look at the situation and evaluate our alternatives."

        Tracinda also announced that it has retained the investment banking
firm of Wasserstein Perella & Co. as a general strategic adviser.  Wasserstein
Perella will provide financial advisory services as to Tracinda's investments
and will assist Tracinda in evaluating alternatives with respect to its stake
in Chrysler.

        "Kirk Kerkorian is a serious long-term investor whose track record 
speaks for itself," said Bruce Wasserstein, chairman of Wasserstein Perella.
"We hope to provide a new perspective and play a constructive role in achieving
Tracinda's objectives."

        Wasserstein Perella & Co. is a leading international investment bank,
with an emphasis on merger and acquisition advisory work, underwriting of
equity and high yield debt securities and asset management services.
Headquartered in New York, Wasserstein Perella has U.S. offices in Chicago,
Dallas and Los Angeles, and international offices in London, Paris, Frankfurt,
and Tokyo.  Recently, Wasserstein Perella has advised on advisory transactions
in excess of $14 billion, including acting as the mutually-designated