Delphi Automotive Systems Corporation IPO Priced at $17 Per Share

5 February 1999

    NEW YORK, Feb. 4 -- Delphi Automotive Systems Corp.
today announced that its initial public offering of 100 million
shares of common stock was priced at $17 per share.
    The company, with 1998 annual sales of $28.4 billion, would rank among the
top 30 US companies on Fortune's 500 list, and is the world's largest, most
diversified automotive products and technology supplier.
    While General Motors continues to hold over 80% of Delphi's outstanding
common stock, GM has said it intends to distribute the remaining shares to GM
shareholders later this year in either a split-off or spin-off, or some
combination of both.
    Delphi Automotive Systems , with headquarters in Troy, Mich.,
USA, has more than 200,000 employees and operates 169 wholly owned
manufacturing sites, 40 joint ventures and 27 technical centers in
36 countries.  Regional headquarters are located in Paris, Tokyo and Sao
Paulo.  Delphi can be found on the Internet at http://www.delphiauto.com.