Suit Filed on Behalf of Purchasers of 1996 And Later Model Years

20 December 2000

    CHICAGO, Dec. 19 The following statement was issued by
Krislov & Associates, Ltd.:
    On December 15, 2000, purchasers of late model Oldsmobiles filed suit
against GM on behalf of all purchasers and lessees of 1996 and later
Oldsmobiles (other than GM and its affiliates and employees) seeking
compensation for the reduction in value caused by GM's announcement on
December 12th that it will phase out its Oldsmobile marketing division and
brand over the next several years.  The consumers claim that they bought
vehicles that will now be worth substantially less than they would have been
had GM not decided to stop producing the brand.
    "Incredibly, GM is ignoring those people who have been loyal Oldsmobile
customers," the Plaintiff's attorney, Clint Krislov, said.  Krislov added, "We
believe these loyal Oldsmobile customers should be compensated for having
purchased cars that GM knew were soon going to be obsolete.  Indeed, we think
GM will want to ensure that Oldsmobile customers have a satisfying purchase
experience and to maintain goodwill among owners of other GM vehicles, who may
fear their brands may be next to be dropped."  The relief sought by the
Plaintiffs could come in the form of extended warranties, an increase in
trade-in for the next few years, rebates or other relief, Krislov said.
    As alleged in the Complaint, GM failed to tell purchasers of late model
Oldsmobiles that it planned to stop producing the brand.  Had these consumers
known that Oldsmobile would soon be obsolete, the Plaintiffs claim they would
not have purchased their vehicles or would have been able to negotiate a
better deal.
    The Plaintiffs are represented by Krislov & Associates, Ltd., a law firm
with extensive experience prosecuting class actions and significant expertise
in actions involving consumer fraud.  If you are a member of the Class
described above, or if you wish to discuss this action or have any questions
concerning your rights or interests, please contact:

    Clinton A. Krislov
    Robert J. Stein
    William M. Sweetnam
    Krislov & Associates, Ltd.
    20 North Wacker Drive, Suite 1350
    Chicago, Illinois  60606
    Tel.: 312-606-0500
    Fax:  312-606-0207
    E-Mail: mail@krislovlaw.com