Good news From Argentina

April 8, 2002 Rosario, Argentina - GM Argentina celebrated the production of the 1st Chevrolet Nuevo Corsa at the Rosario Automotive Complex, one of GM's most modern and lean manufacturing plants in the world. Suppliers, dealers, business leaders and government officials, including President Eduardo Duhalde and the governor of Santa Fe Province, Carlos A. Reutemann, joined the GM team during this event.

The New Corsa was totally redesigned and boasts bumper-to-bumper innovations. It will reach customers in Argentina as well as in export markets like Chile, Mexico, Paraguay and Uruguay and Brazil, where it is being produced as well.

"Our decision to invest in new product programs for the Rosario Complex underscores our support for Argentina and for our customers," said Jaime Ardila, managing director of GM Argentina.

"This achievement is a great step towards regional integration and the strengthening of the Mercosur automotive industry," said Maureen Kempston Darkes, GM group vice president and president of GM Latin America, Africa & MidEast.

In his remarks, President Duhalde recalled his first visit to GM's Rosario plant during the mid-90's and characterized it as an example of the industrial activity necessary to trigger economic recovery.

The new Chevrolet Corsa which will arrive in dealerships throughout Latin America in 2002, complements Chevrolet's successful product line of compact vehicles which includes the Corsa Classic, Corsa Sedan, Corsa Pick-Up and Corsa StationWagon.

The Rosario Automotive Complex was inaugurated in 1997. Currently, it produces the Corsa lineup, as well as the Chevrolet and Suzuki-badged Grand Vitara SUV. Over 200 Argentinean suppliers partner with GM operations in the country.

In 2001, GM Argentina held on to its 10.6% market share during what was a challenging period for the country's automotive industry. That same year, GM recovered the #1 position in the Latin American vehicle sales.