Director Resignation

General Motors Statement Regarding the Resignation of Jerome B. York 
                        from the GM Board of Directors 
 
    DETROIT, Oct. 6 -- GM has received Mr. York's resignation from the GM Board 
of Directors, effective today. 
    Under the direction of the GM Board, we remain focused on our North 
America turnaround, where we are making real progress, progress that is well 
ahead of what some skeptics thought possible.  Over the past 12 months, we 
have implemented several fundamental moves -- in health care, manufacturing 
capacity, hourly attrition, salaried and executive headcount and benefits, 
asset sales and liquidity enhancements, acceleration of key product launches, 
introduction of the industry's best warranty, and completely revamping our 
marketing strategy.  These actions are already yielding very significant and 
needed improvement in our results -- more than $9 billion in yearly cost 
savings on a running rate basis by the end of 2006, and record revenues in the 
first two quarters of this year, to name but two significant ones. 
    General Motors is focused today on several other key matters, as well:  
The successful resolution of Delphi and closing the GMAC transaction in the 
fourth quarter; on the acceleration of the GM Europe turnaround; and continued 
profitable growth, especially in Asia and South America. 
    With respect to the comments on the Renault-Nissan alliance study in 
Tracinda's 13D filing, it's appropriate to note that the decision to end the 
equity alliance discussions was unanimously approved by the GM Board, which 
consists of 12 directors, 11 of whom are independent of management.  This 
decision was made after a comprehensive process that included joint synergy 
evaluation by the management of all three companies and receipt of advice on 
the proposal by two prominent financial advisers.   
    The GM Board concluded that the alliance framework required by Renault-
Nissan would substantially disadvantage GM shareholders. This structure 
included the potential joint projects, which we agreed could yield significant 
aggregate synergies, but which were highly skewed to Renault-Nissan.  The 
structure also included the requirement to sell a substantial equity stake in 
GM at no premium, along with preferential rights, which could have had the 
practical effect of foreclosing GM from entering equity alliances with other 
OEMs.  Renault-Nissan made it clear they were unwilling to pay any premium in 
any of these areas.   
    Through its support and actions, the GM Board has indicated the best way 
to drive value is to continue to remain focused and vigilant in our stated 
turnaround program.   
 
    Forward-looking Statements 
    In this statement and in related comments by General Motors management, we 
will use words like "expect," "estimate," "plan," "goal," "project," 
"priorities," "target," "intend," "may," "would," "could," or "potential," to 
identify forward-looking statements that represent our current judgments about 
possible future events. We believe these judgments are reasonable, but GM's 
actual results may differ materially due to a variety of important factors. 
    Among other items, such factors might include: our ability to achieve 
reductions in costs as a result of the turnaround restructuring, health care 
cost reductions and an accelerated attrition program, to realize production 
efficiencies and to implement capital expenditures at levels and times planned 
by management; the pace of product introductions and market acceptance of our 
new products; the effect of a strategic relationship on the competitive 
environment and the effect of competition in our markets; changes in relations 
with unions and employees/retirees and the legal interpretations of the 
agreements with those unions with regard to employees/retirees; our ability to 
complete the timely sale of a 51-percent controlling interest in GMAC; labor 
strikes or work stoppages at our key suppliers such as Delphi Corporation or 
financial difficulties at those key suppliers; negotiations and bankruptcy 
court actions with respect to our relationship with Delphi; and changes in 
economic conditions, commodity prices, currency exchange rates or political 
stability in the markets in which we operate. 
    The most recent annual report on Form 10-K and quarterly reports on Form 
10-Q filed by GM provide information about these factors, which may be revised 
or supplemented in future reports to the SEC on those forms or on Form 8-K. We 
caution investors not to place undue reliance on forward-looking statements, 
and do not undertake any obligation to update publicly or otherwise revise any 
forward-looking statements, whether as a result of new information, future 
events or other such factors that affect the subject of these statements, 
except where expressly required by law. 
 
 
SOURCE  General Motors Corporation 
    -0-                             10/06/2006 P 
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