---

Arthur Andersen Signs Agreement to Provide Financial Services To GM

22 November 1999

Arthur Andersen Signs $250 Million Agreement to Provide Financial Services To General Motors, Acquires Related GM Assets

   Acquisition Creates Platform for Further Growth of Its Business Process
                             Outsourcing Practice

    CHICAGO, Nov. 19 -- Arthur Andersen announced today an
agreement with General Motors to acquire transaction-processing
assets that handle $250 billion of financial transactions annually for the
company.  Under a separate 10-year agreement worth $250 million, Arthur
Andersen will provide GM with certain financial transaction processing
services within a new,
world-class shared services center, to be completed the second quarter of 2000
in North America.
    Among the services Arthur Andersen will provide GM are U.S. payroll,
dealer billing, accounts receivables, accounts payables, fixed asset
accounting and travel and entertainment expenses.  As part of a marketing
agreement, GM will assist Arthur Andersen in marketing these services to other
companies.
    As a result of this agreement, Arthur Andersen believes it is the
best-positioned service provider to deliver world-class business process
solutions and capture more share within this rapid-growth market. Arthur
Andersen further intends to develop additional shared service centers with
world-class payroll and other process solutions in Europe, Latin America and
Asia.  According to market research firm G2R, this component of the business
process outsourcing industry was valued at $37 billion in 1998 and is expected
to grow to $90 billion by 2003.
    "GM chose Arthur Andersen as a partner because of their finance expertise,
commitment to innovative solutions and their market position," said Matthew P.
Cullen, general manager of GM's Enterprise Activities Group (EAG).  "We
believe that Arthur Andersen's global scale, broad customer base and
willingness to make the appropriate investments on a long term basis make them
an outstanding provider of these services to GM going forward."
    "We are extremely proud to team with a company of the stature and
importance of GM, and believe that together we will provide extraordinary
value to the market," said Jim Wadia, global managing partner for Arthur
Andersen.  "The market for business process outsourcing is growing
significantly as more companies demand best-in-class solutions, and we intend
to be the best finance and accounting service provider on a global level."
    "This acquisition and relationship with GM is a significant step in our
strategy to leverage world-class business processes to others," said Tom
White, Arthur Andersen's global managing partner for Business Process
Outsourcing.  "We are building world-class finance and accounting solutions
for important market segments, including large global companies such as GM.
In addition, we are implementing internet-based finance and accounting
solutions to the rapid-growth dot-com and high tech markets.  Our value
proposition works well whether our client is a Global 1000 or a internet-based
start up needing help with their finance operations so they can focus on
growing the business from inception through the public offering and beyond.
We intend to be the finance and accounting business process outsourcing
partner for success in the new economy."
    Arthur Andersen's vision is to be the partner for success in the new
economy. The firm helps clients find new ways to create, manage and measure
value in the rapidly changing global economy.  With world-class skills in
assurance, tax, consulting and corporate finance, Arthur Andersen has more
than 72,000 people in over 80 countries who are united by a single worldwide
operating structure that fosters inventiveness, knowledge sharing and a focus
on client success. Since its beginning in 1913, Arthur Andersen has realized
86 years of uninterrupted growth, with 1999 revenues over $7 billion.  Arthur
Andersen is a business unit of Andersen Worldwide.