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Delphi Automotive Systems Chairman Appears on CNBC

12 August 1999

Delphi Automotive Systems Chairman Appears on CNBC: Reinforces Delphi Progress and Confidence in Business Performance

                J.T. Battenberg III Says Independence From GM
                  Has Unlocked Significant Shareholder Value

        Expresses 'Comfort' With 1999 EPS Consensus Estimate of $1.88

    TROY, Mich., Aug. 11 -- With $28.5 billion in 1998 revenue
and anticipated 1999 cash flow of up to $2 billion, Delphi Automotive Systems
Chairman and CEO J.T. Battenberg III said today he thinks the
company's stock represents a storehouse of value.
    In a live interview this morning on CNBC's Market Watch, Battenberg also
said he is comfortable with analyst consensus earnings estimates of $1.88 per
share for 1999.  These estimated earnings, combined with the 1999 cash flow,
which could approach $2 billion, and a relatively low stock price, all combine
to make Delphi stock a particularly good value right now, Battenberg said.
    Battenberg said that since the company's initial public offering in
February, Delphi stock has traded as high as $22.25 (before the GM
distribution of 453 million Delphi shares on May 28).  At today's noon price
of $17.88, Delphi's market capitalization was about 5 times the $2 billion
cash flow forecast for 1999.
    Among the internal financial variables investors have been watching
closely since separation is Delphi's ability to generate business from
customers other than General Motors, while maintaining a solid base of
business from its former parent.
    During the interview, Battenberg said he is particularly pleased with
Delphi's performance in this regard.
    "For the first two quarters of this year, we have booked $15 billion of
new business, which is a record for us," said Battenberg.  "Of the $15
billion, $10 billion is with our largest customer, GM.  Importantly, $5
billion was booked with other car and truck manufacturers around the world."
    Battenberg said this growth in business with customers other than General
Motors is part of the value proposition associated with the spin-off and
evidence of Delphi's viability as an independent company.
    "We're seeing a tremendous acceptance of us as we unlock the value of
Delphi as an independent company, and as we begin to go our own way," he said.
"We're really excited about that growth."
    Battenberg said a big part of the company's success is tied to the trend
within the automotive industry toward integration of electronics and
technology into traditional mechanical systems.  He also said the trend toward
delivery of in-vehicle Internet and satellite communications is quickly
becoming a reality.  Delphi's size and range of technological capabilities
positions the company well to take advantage of these -- and other --
industry trends, he said.
    Delphi Automotive Systems, headquartered in Troy, Mich., USA, is a world
leader in automotive components 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 36
countries.  Regional headquarters are located in Paris, Tokyo and Sao Paulo.
Delphi can be found on the Internet at http://www.delphiauto.com

    Forward Looking Statements

    The Private Securities Litigation Reform Act of 1995 (the "Act") provides
a safe harbor for forward-looking statements made by us or on our behalf.  All
statements which address operating performance, events or developments that we
expect or anticipate may occur in the future, including statements relating to
volume growth, awarded sales contracts and earnings per share growth or
statements expressing general optimism about future operating results, are
forward looking statements.  These statements are made on the basis of
management's views and assumptions; as a result, there can be no assurance
that management's expectations will necessarily come to pass.  A list of
factors which could impact future events and performance is included in the
Delphi Automotive Systems Corporation 1998 Annual Report on Form 10-K filed
with the Securities and Exchange Commission.