[en] We measure the B⁰ lifetime τ_B#sup 0# and the B⁰-(bar B)⁰ oscillation frequency Δm_d with a sample of approximately 14,000 exclusively reconstructed B⁰ → D*^- (ell)⁺ ν_#ell# signal events, selected from 23 million B(bar B) pairs recorded at the Υ(4S) resonance with the BABAR detector at the Stanford Linear Accelerator Center. The b-quark flavor of the other B at the time of decay and its decay position are determined inclusively. The lifetime and oscillation frequency are measured simultaneously with an unbinned maximum-likelihood fit that uses, for each event, the measured difference in B decay times (Δt), the calculated uncertainty on Δt, the signal and background probabilities, and b-quark tagging information for the other B. The preliminary results are τ_B#sup 0# = (1.523_-0.023^+0.024 ± 0.022) ps and Δm_d = (0.492 ± 0.018 ± 0.013) ps^-1. The statistical correlation coefficient between τ_B⁰ and Δm_d is -0.22