General Motors Economist To Testify at Congressional Hearing

'Currency Manipulation and Its Effects on American Businesses and Workers'

                         House of Representatives
      Committee on Financial Services, Subcommittee on Domestic and
           International Monetary Policy, Trade and Technology
            Committee on Ways and Means, Subcommittee on Trade
       Committee on Energy and Commerce, Subcommittee on Commerce,
                      Trade and Consumer Protection

  WHAT:     Joint Hearing on "Currency Manipulation and its Effects on
            American Businesses and Workers"

  WHEN:     9:30 a.m. Wednesday, May 9, 2007

  WHERE:    1100 Longworth House Office Building

  WHO:      G. Mustafa Mohatarem, Chief Economist, General Motors Public
            Policy Center

  DETAILS:  Mustafa Mohatarem will testify on how the Government of Japan
            has deliberately weakened the yen to promote its exports at the
            expense of US and other global manufacturers and how this policy

            damages American businesses and workers.  A March 2007 Peterson
            Institute for International Economics report by 30 leading
            economists concludes the yen is seriously undervalued and an
            increase of 25-30 percent in the value of the yen to 90
            yen/dollar would be required to address "large and unsustainable

            current account imbalances."

            The Automotive Trade Policy Council, whose members include
            General Motors, Ford and DaimlerChrysler, is urging the Bush
            Administration to join other leading industrial G7 countries in
            insisting that Japan agree to refrain from any direct
            intervention and indirect manipulation to allow the yen to
            appreciate to its true value in global financial markets.

  Contact:  Auto Trade Policy Council
            Tel: 202-631-8962
            info@autoyensubsidy.org

PRNewswire-USNewswire -- May 8
First Call Analyst:
FCMN Contact: