Delphi Continues Portfolio Realignment

    TROY, Mich., May 22 Continuing to act on its pledge to
realign its businesses portfolio, today Delphi Automotive Systems
announced that it has exited three ventures with total non-consolidated sales
of approximately $60 million.  The divestitures include two minority interest
businesses, located in North America and South America, which produce thermal
products and wafer chips for automotive applications.
    (Photo:  http://www.newscom.com/cgi-bin/prnh/20001019/DELPHIAS )
    "We are fully committed to address operations that are not performing to
expectations or have limited strategic value due to changing business
priorities," said Delphi Chief Financial Officer Alan S. Dawes.  "These moves
support Delphi's strong track record of completing portfolio management
actions that enhance our profitability while allowing us to better utilize
capital resources for acquisitions, emerging technologies and investment in
core businesses."
    The two divestitures are:
    * Componentes Delfa, a minority joint venture with Fabrica de Aparotors de
Aire Acondicionado in Venezuela, to supply thermal products for the Venezuelan
automotive market; and,
    * Flip Chip Technologies, L.L.C., a minority joint venture with Kulicke &
Soffa, Inc. in Phoenix, Ariz., to co-develop flip chips used in automotive
engine electronics.
    In addition, due to changing business objectives in the partnership and in
response to economic and competitive factors, Delphi sold its share of stock
in Delphi NSK Steering, a 50 percent joint venture with NSK, Ltd. of Japan,
for the sale of halfshafts to automotive customers in Asia.
    Proceeds from the divestitures were not disclosed.  Since 1992 Delphi has
sold or closed 80 plants and businesses with sales revenue of approximately
$7 billion.
    For more information about Delphi Automotive Systems, visit Delphi's
Virtual Press Room at http://www.delphiauto.com/vpr .

    Forward Looking Statements
    The Private Securities Litigation Reform Act of 1995 provides a safe
harbor for forward-looking statements made by us or on our behalf.  All
statements contained or incorporated in this release which address operating
performance, events or developments that we expect or anticipate may occur in
the future (including statements relating to future sales or earnings
expectations, savings expected as a result of our restructuring plans, volume
growth, awarded sales contracts and earnings per share expectations or
statements expressing general optimism about future operating results) are
forward-looking statements.  Principal important factors, risks and
uncertainties which may cause actual results to differ from those expressed in
our forward-looking statements are: our ability to increase non-GM sales and
achieve the labor benefits expected from our separation from GM, potential
increases in our warranty costs, our ability to successfully implement our
global restructuring plans, changes in the economic conditions or political
environment in the markets in which we operate, financial or market declines
of our customers or significant business partners, labor disruptions or
material shortages, the level of competition in the automotive industry,
significant downturns in the automobile production rate, costs relating to
legal and administrative proceedings, changes in laws or regulations
pertaining to the automotive industry, our ability to realize costs savings
expected to offset price reductions, our ability to make pension and other
post-retirement payments at levels anticipated by management, our ability to
successfully exit non-performing businesses and absorb contingent liabilities
related to divestitures, our ability to complete and integrate acquisitions,
changes in technology and technological risks, our ability to protect and
assert patent and other intellectual property rights, and other factors, risks
and uncertainties discussed in our annual report on Form 10-K for the fiscal
year ended December 31, 2000 and other filings with the Securities and
Exchange Commission.  Delphi does not intend or assume any obligation to
update any of these forward-looking statements.

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