GM Statement Regarding the Delphi Auction

On June 16, 2009, Judge Robert Drain of the U.S. Bankruptcy Court for the Southern District of New York entered an order directing the process through which Delphi would consider bids for the company in addition to the bid from Platinum Equity. GM fully supported a competitive bidding process as provided for in the court order.

At the conclusion of the bidding at the auction on July 27, the proposal from the Debtor in Possession (DIP) lenders was deemed successful by Delphi and provided better economics to GM than that from Platinum Equity. GM supports this bid, which is still subject to Delphi bankruptcy court approval, and we are pleased that Delphi is now positioned to move forward in its restructuring. A court hearing seeking approval of the bid is scheduled for July 29.