GM Directors Resign From Delphi Board As Delphi Becomes Fully Independent from Parent General Motors

28 May 1999
GM Directors Resign From Delphi Board As Delphi Becomes Fully Independent from Parent General Motors
    TROY, Mich., May 28 -- Delphi Automotive Systems
today announced the resignation of John F. Smith, Jr., Harry J. Pearce and J.
Michael Losh, all of General Motors, from its board of directors.  The
resignations, effective 9 a.m. today, were submitted in conjunction with
General Motors' distribution of the 452,500,000 Delphi shares to GM
$1-2/3 shareholders.
    "Jack, Harry and Mike have been invaluable to us over the last year as we
worked to establish Delphi as an independent company," said J.T. Battenberg
III, chairman, chief executive officer and president of Delphi.  "It has been
a pleasure to have these three outstanding businessmen on our board, guiding
us to this very exciting day."
    Since joining the Delphi Board, Smith, Pearce and Losh have said they
planned to resign at the time of Delphi's full separation from General Motors.
The separation was completed today at 9 a.m. as GM issued a dividend to
holders of GM $1-2/3 common stock of approximately seven shares of Delphi
stock for every 10 shares of the GM stock.
    The Delphi Board said that it had no immediate replacements to announce
and that any additional directors will be determined on the basis of business
needs at a future time.
    Delphi's lead director is Thomas H. Wyman.  The remaining board members
are: Oscar De Paula Bernardes Neto, chairman for Santista Alimentos and Seara
Alimentos; Virgis W. Colbert, executive vice president of Miller Brewing
Company; Schoichiro Irimajiri, president and representative director of Sega
Enterprises, Ltd.; Susan A. McLaughlin, president, consumer services for
BellSouth Telecommunications, Inc.; John D. Opie, vice chairman and executive
officer for General Electric Company; and Roger S. Penske, chairman of Penske
Corporation.
    Delphi Automotive Systems , with headquarters in Troy, Mich.,
USA, is a world leader in automotive component and systems technology.
Delphi's three business sectors -- Dynamics & Propulsion; Safety, Thermal &
Electrical Architecture; and Electronics & Mobile Communications -- provide
comprehensive solutions to complex customer needs.  Delphi has approximately
196,000 employees and operates 168 wholly owned manufacturing sites, 51
customer centers and sales offices, and 27 technical centers in 36 countries.
Regional headquarters are located in Paris, Tokyo and Sao Paulo.  Delphi can
be found on the Internet at http://www.delphiauto.com.