GM Statement

ZURICH, SWITZERLAND - August 14, 2009: GM has concluded several meetings with both Magna and RHJI, and with representatives of the German automotive task force. Progress has been made in clarifying issues from the best and final offers received two weeks ago. GM hopes to conclude its evaluation and make a recommendation to the Opel Trust Board shortly.

On August 13, Magna/Sberbank provided to GM and the German automotive task force revised draft agreements. GM will be reviewing these documents over the next few days. The automotive task force will be reviewing as well, as GM has requested from the task force an outline of the financing package that the German Government, and other European Governments, would support. When this outline is available, the options for Opel will be discussed with GM's Board of Directors.