---

Delphi Acquires Equity Interest in Akebono Brake

26 July 1999

Delphi Acquires Equity Interest in Akebono Brake

    TROY, Mich., July 26 -- Delphi Automotive Systems
announced today it intends to purchase 5.5 million shares of Tokyo-based
Akebono Brake Industry Company (Akebono), the number one supplier of wheel
brakes to Japanese vehicle manufacturers.  The investment is valued at
approximately US$15 million and represents about a 5.9 percent interest in the
company.
    Delphi expects the ownership stake in Akebono to strengthen its global
presence in the automotive brake business, broaden its technology base and
support the continued growth of Delphi's modular brake business through a
variety of joint programs that will enhance shareholder value.  The deal is
expected to finalize by the end of the month.
    Delphi and Akebono have complementary strengths.  Akebono is recognized as
a world leader in friction materials technology and is well known for their
implementation of lean manufacturing principles.  Delphi's award-winning
Galileo(TM) "brake-by-wire" and Traxxar(TM) stability enhancement systems
bring a leading edge, total systems approach to vehicle control.
    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
product solutions to complex customer needs.  Delphi has approximately 201,000
employees and operates 168 wholly owned manufacturing sites, 38 joint
ventures, 51 customer centers and sales offices, and 27 technical centers in
37 countries.  Regional headquarters are located in Paris, Tokyo and Sao
Paulo.  Delphi can be found on the Internet at http://www.delphiauto.com.