DETROIT, Michigan

FOR RELEASE: August 30, 2001

Etkin named developer for GM Property in Livonia

DETROIT, Michigan – General Motors announced today the selection of Etkin Equities as the developer/partner to redevelop the GM property located on Eckles Rd. in Livonia, Mich. GM and Etkin will develop a master plan for the former manufacturing site with input from city officials.

Since 1954 the primary manufacturing functions within the former facility located on the site were the production of bumpers and springs. In 1993, GM ceased its bumper operations and, in 1998, sold the coil spring business to an independent company, which leased a portion of the facility through the year 2000. Since that time the facility has been dismantled and GM’s Remediation Team is conducting environmental investigations and working with the appropriate regulatory agencies in support of redevelopment.

“The redevelopment of the Eckles Rd. site is an opportunity for GM to give back to a community that supported the corporation for many years,” said Conrad Schwartz, director of asset management for GM’s Worldwide Real Estate Group. “At GM we strive to find unique ways to re-use our properties so they once again become active, productive parts of the community.”

Etkin Equities of Southfield, Mich. has an impressive record of commercial acquisition, development, management and consulting services across southeast Michigan and in the state of Colorado. “Our portfolio includes more than 6 million square feet of office, retail, light industrial and hotels,” according to Doug Etkin, principal of the company.

“We are pleased to continue our association with General Motors and are excited about the redevelopment of the Eckles Rd. site in Livonia. We expect to build on the success of the Centerpoint Business Campus in Pontiac,” Etkin said.

“This exciting project affords Livonia’s Industrial Corridor a 120-acre developable site that we’ve sorely needed,” said Livonia Mayor Jack Kirksey. “Working in partnership with General Motors and Etkin Equities we can now provide acreage in a new business park for Livonia’s growing industrial community. The redevelopment project also gives our city acreage to pursue new attraction projects that traditionally seek build-to-suit opportunities.”

According to Schwartz, this redevelopment project is another example of GM’s commitment to a sustainable America through creatively using the past to create the future. Sustainable development depends on exceptional leadership, teamwork, community involvement and education. He also noted that GM has undertaken redevelopment projects at many other sites, both in Michigan as well as across the country, with great success.

Generals Motors , the world’s largest vehicle manufacturer, design, builds and markets cars and trucks worldwide. In calendar year 2000, GM earned $5.0 billion on sales of $183.3 billion. It employs about 395,000 people globally. Please visit www.gmability.com to learn more about GM’s redevelopment efforts and the environmental progress it is making in the areas of product, plants and partnerships.