GM Board of Directors Statement

            GM Board of Directors Statement attributable to Kent Kresa, Chairman:

            "The General Motors Board of Directors authorized the filing of a chapter

11 case with regret that this path proved necessary despite the best efforts

of so many.  Today marks a new beginning for General Motors.  A

court-supervised process and transfer of assets will enable a New GM to emerge

as a stronger, healthier, more focused and nimbler company with a

determination not to just survive but to excel.  The Board concluded that the

proposed transformation will maximize the value of the enterprise, and the

return to the many stakeholders who have been involved with GM over the years.

            We are appreciative of the support from the U.S. Treasury, the

President's Task Force on Autos, the UAW and its members, salaried employees

and retirees, concurring bondholders, and very importantly, the American

taxpayers.  The Board is confident that this New GM can operate successfully

in the intensely competitive U.S. market and around the world.  The Board

stands behind the people of GM in embracing this unique opportunity to create

value and a new company that will design, engineer, build and market the best

cars and trucks in world."

            Media inquiries:

            Tom Wilkinson

            GM News Relations

            313.667.0366 (office)

            313.378.6233 (mobile)

            tom.wilkinson@gm.com

            Renee Rashid-Merem

            GM Financial Communications

            313.665.3128

            renee.rashid-merem@gm.com

            For additional media information visit http://media.gm.com .

            /PRNewswire -- June 1/