Tracinda Reaffirms Commitment to Tender Offer of General Motors Common Stock

LOS ANGELES--June 1, 2005--In response to repeated inquiries regarding its tender offer for General Motors Corporation common stock, Tracinda Corporation today announced that it will not increase its tender offer price above $31.00 per share.

Tracinda commenced its cash tender offer for up to 28,000,000 shares of common stock, par value $1 2/3 per share, of General Motors Corporation on May 9, 2005. The offer is scheduled to expire at 5:00 p.m. ET on June 7, 2005, unless extended.

Questions regarding the offer or requests for offer materials should be directed to the information agent, D.F. King & Co., Inc., at 212-269-5550 for banks and brokerage firms or 800-207-3158 for all others. Offering materials have been filed with the Securities and Exchange Commission (SEC) and are available on the SEC website at http://www.sec.gov and D.F. King's website at http://www.dfking.com/gm_offer_materials.htm. General Motors' stockholders are urged to read the offering materials, which contain important information.