Who invented ESP? Anton Theodor van Zanten at Bosch, who worked on ESP already at Cornell (1973) and Armin Mueller at Daimler-Benz were the project leaders. Teams of about 40 engineers moved into a common building. The inventors received the Society of Automotive Engineer's Henry Ford award and more recently the "Professor Ferdinand Porsche Preis" from Porsche and the TU Wien. Wendelin Wiedeking commented: "With their invention, the price winners made a significant contribution to the general safety of road traffic." ESP world premiered in 1995 on the 12 cylinder Mercedes CL600 coupe S600 sedan as standard and was optional for $1200 to $1500 in other W140 S-Class models, the S420 and S500. Source
Difference between a car with ESP and one without:
http://www.whnet.com/4x4/pix/S600_esp_lg.jpg
Notice how the car without ESP is oversteering.